Real Estate / Mansions

Making Owning a Second Home Easier — Buzzy Pacaso Lets You Truly Buy Part of a Dreamy Mansion in Vacation Wonderlands

This is No Timeshare

BY // 02.23.22

It’s one thing to own a stunning mansion as your primary residence, but adding a second or third home brings things to another level. Pacaso, an innovative luxury second home ownership platform, is trying to make that easier. Pasaco is built around group ownership — but in a new way.

Pacaso offers shares in luxurious single family homes, allowing up to eight buyers, while streamlining the entire home ownership process. Unlike traditional fractional ownership, each Pacaso share means real ownership of the actual property rather than the old system of just granting you a certain amount of time at the residence each year.

Pacaso creates a property LLC for each home and handles all the sales details for the group of owners. At closing, the co-owners get 100 percent ownership of the house. Pacaso does not retain any shares.

The idea is to avoid both the hassle of traditional home ownership and messy traditional timeshare situations. You can own part of a $10 million chalet in Colorado or a $10 million beachside stunner in Malibu — the type of house you might not able to otherwise afford— for around $1.5 million. With everything completely turnkey. 

Perhaps the most exciting perk of Pacaso’s ownership program is that the company takes care of all furnishings, repairs, utilities and property management. Even scheduling visits is easy and equitable through a mobile app. You never have to personally coordinate with your fellow home owners. Each home also gets a dedicated home manager to help coordinate trips and provide peace of mind that the house is being taken care of. 

Pacaso may not be reinventing the wheel, but it’s point of difference is certainly attracting attention. And money. Co-founded by former Zillow executives Austin Allison and Spencer Rascoff in 2020, the startup recently reached a $1.5 billion valuation after raising $125 million from investors. 

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The company’s collection of property offerings span the globe in 30 of the world’s most coveted vacation spots. That means Park City, Vail, Palm Springs, Malibu, Napa, Tahoe, Miami and recently some new locations in Spain.

Here are some of the houses Pacaso is currently selling:

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Aspen, Colorado

$2,638,000 for 1/8 Ownership

The recently remodeled home overlooking Shadow Mountain is available for purchase. There is an open floor plan ideal for entertaining at this stunning five bedroom home just off Aspen’s popular Main Street.

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Malibu, California

$974,000 for 1/8 Ownership

Owners of this three bedroom beachside home get dreamy oceanfront views — and a true California cool lifestyle. With a modern aesthetic and a spacious patio for soaking up the seaside, this dream home is stylishly designed for vacation living.

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Jackson, Wyoming and Pacaso

$1,379,000 for 1/8 Ownership

In an area known for impeccably modern estates designed to put nature at the forefront, this Jackson Hole dream house is an architectural masterpiece. The five bedroom manse boasts a grand living room and a water feature to complement the Grand Teton views.

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Healdsburg, California

$715,000 for 1/8 Ownership

This Sonoma County wine country community has been long been a hidden gem compared to its much buzzier Napa neighbors, but the houses are plenty stately. Pacaso’s Healdsburg home comes complete with contemporary finishes and an enormous swimming pool overlooking the wine country.

1033 Homestake Circle 4

Vail, Colorado

$1,742,000 for 1/8 Ownership

This five bedroom home on the Vail Golf Course is the ultimate in mountain living. With natural stone walls and several roaring fireplaces, owners get a spacious mountain retreat with modern perks and state of the art finishes.

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