Introducing Ownermatch
“Ownermatch provides an innovative formula that cuts the cost of owning a second home or recreational property in half. This is accomplished by facilitating two "well-matched" co-owners, who each provide half the investment capital and half the ongoing ownership costs. They can then each enjoy up to six months "exclusive" use of the property every year according to a pre-determined schedule. Simple, practical and cost-effective. A Win-Win for both parties.”
Read all about it > http://www.ownermatchresorthomes.com/locations/tucson/
It may be a Win-Win, as they say, though, with all the complicated personal & money issues involved in such an up close and cozy co-ownership arrangement,
it doesn’t sound the least bit simple and not at all like fun to me.
And before anyone begins to deal with those sticky issues, now, instead of having to find one buyer for each million$$+ luxury home, two must be found - and yes, the price is half, but you also only get half and you have to check in with your “well matched” co-owner on all decisions. imagine. How likely is that, two buyers who want half of the same luxury home and who agree on the price and terms and who are willing to share it. And not just any two buyers, but two “well matched” buyers, who are able to walk down the aisle together and agree on the endless decisions that need to be made regarding the big and small details of setting up, owning, maintaining and sharing the house. Good luck with that!
And this is not a time share– which they may have thought about when dreaming this up - which has many participants and is therefore very impersonal and is more like a permanently reserved hotel room than a cozy and complicated co-ownership arrangement of a large multi-million $$$ home.
Also, Ownermatch may have misconstrued the cause of the poor state of
the high-end market here in the Tucson Foothills.
It’s not for a lack of high-end buyers, no that’s not it. There are plenty of buyers, it’s just that they’re not willing to pay the prices being asked for many of the high-end homes that are for sale. So, ironically, the real issue is that there are not enough
well-priced high-end homes to go round.
And the odds of finding two buyers who are both willing to overpay - albeit by only half as much as they would individually - to own half of and share in one overpriced million$$+ home – is, it seems to me, a very unlikely outcome.
But there it is, you decide.