Sharing the purchase of a holiday home:  is it a good idea?

You want to spend your weekends in the countryside, buy a family house by the sea or an apartment in the mountains to spend the winter. In short, like a majority of French people, you dream of owning a second home.


Before you buy, do your calculations: as the owner, you will have to assume a large set of charges. In addition to the monthly repayments if you finance the purchase on credit, it will be necessary to pay the subscription to the various networks (water, electricity, telephone ...), insurance, local taxes (property taxes and housing), as well as the repair costs. Do not underestimate the maintenance bills of your property, which on average represent between 1 and 2% of the purchase price of the house, or up to 4% if it is a second home with swimming pool subjected to the sea air, and therefore to rapid degradation.


The idea is therefore very different from that of the "time-share", since the site does not offer individuals to buy predefined weeks in a condominium, but to set themselves the rules of use.


To be certain that you are compatible with other potential buyers, has created a simple questionnaire. Interested buyers must register and answer five questions by defining their profile. "They must specify their ability to maintain and repair the house (the choice from" only if necessary "to" I like to maintain a home "), their appetite for storage (from relaxed to manic), their taste for decoration and the equipment (free or imposed) They must also indicate the presence of children and specify if they are amateurs of great calm or party ... ", explains Eric Chatry. These simple filters let you know at a glance if people interested in the same house as you have the same philosophy of life. If so, the site offers a meeting between future co-buyers, which can be done during the visit of the property. Then everyone is free to push further or stop there. If you and your co-buyers are on the same wavelength, the site accompanies you in the purchase process. The acquisition of the property is via a SCI (real estate Company) that the legal service of the site helps you to create. Each will therefore own shares in this SCI for its contribution in the purchase of the house. Then you will sign a contract of good governance, which fixes very precisely the periods of occupation of the house, the expenses of each one, the modalities of vote for the works or the resale...

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