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Renting, Buying, or Co-Owning a Second Home?

In this article, we will evaluate the options of renting, buying, and co-owning a house that many people wonder about.

Buying a Home vs Co-Owning

In general comparison, there are major differences between buying a home and co-owning a one. These differences are quite significant in terms of financial decisions and the number of options. First of all, attention should be given to the following point: buying a house means you have full right and ownership over that house. In other words, the whole house belongs to you and this is permanently fixed with the title deed. At this point, it may be more advantageous to own a home rather than co-ownership. On the other hand, if you have a house of your own and you want a second house or a summer house, then instead of buying a second house, you can consider owning a house with a co-ownership model. Because, when you buy a second home or a summer house, there will be no compensation for the cost you have incurred in cases where even if you do not use it. This is highly inefficient. When you buy a second house with a co-ownership model you will own the house and cover only the costs of your house for the time you use it.

Koesta offers you this opportunity. By being a co-owner in a Koesta home, you can use your house as you wish throughout the year, up to your share ratio.

Renting and Co-Owning Options

If you already own a house but want a vacation home or a second home, the option to rent has many disadvantages. When renting is preferred over buying a house, you may have to sign a contract for a certain period of time and pay rent even if you do not stay regularly. In addition, if you are renting under a certain agreement for only a certain period of the year, you can pay high amounts according to the period. Another disadvantage is the service possibilities. When you rent a house, you have to put up with the condition of the house. On the other hand, when you choose the co-ownership model, your house is restored to its original state before you, and all facilities are well maintained. With the co-ownership model, the length of stay in the house is determined according to the amount of the share you own, each share gets to spend 45 days in a year.

In Short

To summarize the evaluations about buying, renting, and co-owning a house; If you don't have a house, buying a house can always be your primary goal because it not only saves you the cost of rent but also makes it possible for you to have a strong investment. If you already own a house, then it will always be the right option for you to own a house with co-ownership.

To own your second home, you can contact Koesta right away and reach your dreams in just a few steps.