What will co-ownership with Lazazu cost?
Have you been browsing our selection of beautiful holiday homes and imagining yourself sipping an apéritif poolside or enjoying an après-ski in the mountains? If so, your next thought is probably, “What will co-ownership cost?” And you are right to want to know. At Lazazu we are committed to making sure our buyers understand every cost so that they can enjoy a truly carefree second home ownership experience, whilst relishing in the fact that they are purchasing it at a fraction of the cost.
What is the upfront cost of buying a second home with Lazazu?
The price per share is composed of four components: the purchase price, the cost of the home upgrade, the standard purchase fees, and the Lazazu fee. You contribute to these costs in accordance with the number of shares you buy, unless otherwise specified.
The price breakdown on our listing pages is a good estimate of what your upfront cost will be, and we will share a detailed final breakdown during the purchase process, ensuring full transparency at the outset. You’ll know exactly what costs you can expect when you buy a second home with us.
Let’s explore the four price components in more detail.
1. Purchase price
We calculate the home purchase price per share as the full purchase price of the property divided by eight. We state the asking prices for the homes on our website, and will negotiate these on behalf of the owners when we purchase the home. If you wish to purchase more than ⅛ of a home, simply multiply the price by the amount of shares you would like to own. You can buy up to 50% of the home, the equivalent of four shares.
2. Home upgrade
All homes are refreshed, professionally decorated and beautifully appointed before your first stay. This includes bathroom and kitchen upgrades, furnishing, installation of the technology and added details to ensure your comfort and convenience, as well as any necessary improvements such as repairs and painting. We manage all of this for you – you can simply arrive and enjoy your home. The costs for upgrading your home is a calculated estimate that may vary (most likely decrease) and will be finalised before purchase and passed on directly without a markup.
3. Standard purchase fees
The standard purchase fees include the transfer duty (or value added tax for new homes), as well as legal, notary fees and company set-up fees. Unlike a regular home purchase, where you still have to add these fees to your expenses, our price per share includes the standard purchase fees.
4. The Lazazu fee
We charge a flat commission for finding like-minded buyers, managing the purchase transaction, setting up the legal structure, working on the home upgrades, and arranging financing as needed. We are happy to walk our buyers through the breakdown on an individual basis.
What are the ongoing costs of owning a holiday home with Lazazu?
The annual running costs of the home are carefully budgeted each year and your monthly contribution is based on this. All charges are passed on directly without any markup and are split equally between the owners in proportion to the number of shares they own. We secure the best relation between price and quality of service to the home. A typical breakdown of your home running costs would include:
– Gardening
– Pool service
– Cleaning (off-season and annual deep clean)
– Home consumables
– Utilities – electricity, gas, water, internet and TV
– Alarm service
– Insurance
– Maintenance
– Taxes (such as property tax and rubbish collection tax)
– On site property manager’s fee (if applicable)
To ensure that you can use your home absolutely stress-free, we provide you with the technology that allows you to book your stays at the click of a button and manage all administration around the running costs of the home and the management of the details for your home. For this service we charge a monthly management fee of EUR125 per month.
Are there any costs per stay?
A standard changeover fee for cleaning and changing of towels and linen applies per stay, as opposed to being shared pro rata between the owners. Cleaning during your stay and external services such as private chefs, personal trainers, childcare, or transportation are available upon request and will be charged separately.
The takeaway?
Our highest priority is to ensure your enjoyment of your fully managed second home at a fraction of the cost. Unlike full home ownership, all the costs are shared amongst the owners and carefully managed by us whilst providing full transparency on them. You won’t have to think about anything but how good it feels to walk through the front door and start your vacation. That’s what co-ownership with Lazazu is all about.
Discover more about Lazazu:
How Lazazu co-ownership works | Frequently asked questions about shared holiday homes | The benefits of fractional ownership | Browse Lazazu’s selection of second homes | The difference between timeshare and co-ownership