Pacaso Is Making It More Affordable (& Sustainable) to Own a Second Home

Let’s say you’re in the market for a second home. First of all, lucky you! But think about how much you and your family will actually use it. Between family weddings and soccer tournaments and work trips, all of which you can’t miss, there’s a pretty solid chance your second property will go unused for the vast majority of the year. When you crunch the numbers, it might not make a ton of sense to go all-in on a second space that you’re not really going to use that much.

Enter Pacaso, a tech real estate company that’s making it easier to own a second home through co-ownership (no, it’s not like a timeshare—more on that below). Pacaso CEO Austin Allison explains, “Co-ownership is like carpooling for second homes. Just as carpooling allows people to share a car and reduce costs and environmental impact, co-ownership allows multiple people to share a second home and reduce ownership costs, making better use of available housing stock, benefiting everyone involved.” From Jackson Hole, WY, to Cabo San Lucas, Mexico (where one Pacaso property, Esperanza, shown below, recently became the fastest sell out in Pacaso history), here’s what you need to know about this buzzy company.

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pacaso cancun

What Is Pacaso?

Co-founded by Allison and Spencer Rascoff in 2020, Pacaso is a tech real estate company focused on co-ownership of second homes. Pacaso curates luxury listings and then offers one-eighth to one-half ownership with integrated financing. Then, depending on how many shares you own, you’re allotted a specific number of days to use the house throughout the year.

Pacaso also aims to make second home ownership more sustainable. Allison explains, “By consolidating buyers into fewer luxury homes, Pacaso's co-ownership approach significantly increases property occupancy. By sharing ownership and using homes more frequently throughout the year, Pacaso reduces the strain on resources and lessens the impact of vacant properties, contributing to more vibrant communities and efficient use of housing resources.” The model also, then, positively impacts local businesses, which are going to see more business from a second home that’s almost always occupied versus one that’s almost always empty.

pacaso tahoe

How Is It Different Than, Say, a Timeshare?

When you think about home co-ownership, you might think about timeshares. Pacaso is not a timeshare. Timeshares typically sell the right to use a fixed amount of time at a property shared by others. With Pacaso, on the other hand, you’re buying an actual part—or parts—of the house.

Maintenance, management and all those other costs that come with home ownership are divided between all of the co-owners, and each property is decorated by the company’s in-house design team and professionally managed by Pacaso (so, say, you don’t have to worry about cleaning the house after your stay or figure out what to do if a raucous night ends with a broken wine glass or two).

Should you choose to sell, Pacaso facilitates the process, which it says is typically totally seamless. (On average, the company says Pacaso homes resell in 12 days for a 12 percent gain, with all profit going to the owners.)

pacaso malibu 1

Where Are Pacaso Homes Located?

Today, Pacaso operates in 40 communities worldwide. The combined value of Pacaso homes has $1 billion in cumulative revenue, with over 1,500 owners spending over 56,000 cumulative nights in their Pacaso homes. As for where the company is headed next, Allison teases, “We've seen growing interest from buyers for our model in the Pacific Northwest and more Florida coastal communities, and we're excited to announce a new project in Washington soon.”

The bottom line is, that second-home dream might not be so far-fetched after all.

sarah stiefvater

Wellness Director

Sarah Stiefvater is PureWow's Wellness Director. She's been at PureWow for ten years, and in that time has written and edited stories across all categories, but currently focuses...