Fractional ownership of vacation homes in Mexico grows

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New real estate firm gives people the opportunity to be co-owners of a vacation spot

FOR THOSE WHO WANT A VACATION HOME TAILORED TO THEIR NEEDS

Buy the home of your dreams that accommodates to your travel needs. You choose how many weeks per year you want to go and everytime you get there it will be in perfect conditions, with hotel cleaning service and maintenance.

That place in the beach can now be yours, buy it in slices, use it and enjoy true ownership.   

During the confinement due to the Covid-19 pandemic, the desire of people to have a home to vacation or escape for a weekend grew, so a Mexican company developed the concept of buying a home for rest among several people under the scheme of co-owners.

'ANCANA BE PART OF THIS'

Thus was born Ancana, a firm that is dedicated to the shared purchase of real estate in tourist destinations such as Tulum, Valle de Bravo, San Miguel de Allende, Acapulco, and Puerto Vallarta.

Unlike timeshares, the company offers the possibility of being a co-owner of a vacation property, while the other model only allows you to exercise a user contract for certain dates and under strict clauses.

 'ANCANA'

How does it work?

Basics of Fractional Ownership

A trust or co-ownership is the best way to buy and be a true owner of a 2nd home through fractional ownership. By owning a slice of the property you have legal certainty of the home you purchased but paid for the time you are going to use it as well as the monthly maintenance costs to have your home in perfect conditions. Let us take care of your investment through our qualified property managers that will take care of the property, schedule your check-in and pay your utilities.

'ANCANA'

In an interview, Andrés Barrios, founder of Ancana, explained that homes are acquired between four and 12 owners, at most, so that each owner can spend at least a month in the home.

“During the pandemic, we realized that many people do not have access to a vacation home that would give them an escape from the city to spend time with their family or simply to work from a more pleasant place.

“We set ourselves the goal of making this a reality for millions of families so that they would have the opportunity to acquire a rest home through fractional properties,” he said.

Due to the purchase scheme, most acquisitions are in cash and the investment ranges from 700,000 to 5.2 million pesos, depending on the location and size of the property.

“There is something called fractional co-ownership, it is a title in which you are the rightful owner in the percentage that you buy, and on the beach, it is done through trusts in which trust certificates are granted on the percentage that you have bought of the property ”Barrios explained.

ancana

Ancana has achieved the shared purchase of real estate by eight families that are already co-owners of vacation houses and has 45 new clients who are defining what their future property will be.

Barrios recalls that when developing this project one of the main challenges was the insecurity of the clients regarding the acquisition of a fractional house: “They were afraid that the house was really theirs because it was shared.

“However, each co-owner has the same guarantees of having acquired his own house and is very friendly when they want to take their vacations in their own home.”

To solve the time of use of the properties, calendars are made for the allocation of the weeks that each family requires. According to Ancana, the average use of a vacation home is 60 days a year maximum.

'ANCANA MINDFULLIVING'

Buyers also split maintenance fees, taxes, and payment for services.

Source: eluniversal.com.mx

Mexico Daily Post

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