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.