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Transforming the dream of vacation homes into reality
Owning a vacation home in Europe may seem like a distant dream for many, especially the idea of having multiple residences in sought-after holiday destinations. However, August, a pioneering real estate group, is changing this narrative. They offer a unique co-ownership model that enables passionate travelers to enjoy four to five beautiful holiday homes, ranging from a stylish apartment in Paris to a cozy townhouse in Mallorca—all at a fraction of the cost of owning a single property.
The genesis of August
Founded in 2019 by the dynamic duo Mélie Dunod and Nico Watzenig, August emerged from the realization that owning an entire vacation home is impractical when it’s typically used for just 35 days a year. The founders recognized that travelers shouldn’t have to choose only one destination when they could relish the benefits of various properties across Europe. Unlike traditional timeshares, August allows individuals to invest in shares of a collection of homes, simplifying the process by handling all necessary paperwork, thus minimizing hassle.
Confronting the challenges of overseas property buying
Before launching August, Dunod and Watzenig ran a successful interior design business, where they witnessed firsthand the complexities of purchasing property in foreign countries. One client described her experience of buying a vacation home in France as a “real nightmare,” citing inflated prices and a lack of trust in local agents. She felt that newcomers to the market faced significant barriers, including language differences and unfamiliarity with local pricing. This inspired Dunod to consider a co-investment model with friends, ultimately leading to the creation of August.
Unique collections for diverse lifestyles
August offers an array of properties located across ten coveted European cities and regions, categorized into collections based on lifestyle and budget preferences. For those drawn to vibrant city living, the Pied-à-Terre collection features stunning apartments in iconic locations like Paris, Barcelona, Rome, London, and Cannes. Alternatively, if you prefer a tranquil escape, the Signature collection showcases beautiful homes in the South of France, the French Alps, Tuscany, Mallorca, and the Cotswolds, catering to diverse tastes and desires.
Understanding the co-ownership model
Each collection consists of 16 to 21 shares, allowing homeowners to own one or more shares depending on their preferences. On average, this translates to eight to twelve weeks of usage per year for each owner, with flexibility based on individual travel plans. The August team carefully vets potential buyers to ensure they align with the community’s values—appreciating exquisite homes and sharing a passion for travel.
Seamless ownership experience
Once a buyer is approved, August facilitates the creation of a co-ownership real estate company, ensuring that all properties are owned collectively. Each homeowner has a defined ownership interest in the properties, which includes the homes, their land, and contents. While meeting other homeowners is not mandatory, August organizes events to foster connections within each collection.
Affordable pricing and transparent processes
The cost of ownership varies by collection, with the popular Signature collection priced at €435,000 for a 1/21st share. Each home in this collection averages around €1.5 million, and homeowners are also responsible for an annual maintenance fee of €14,600. After the establishment of the co-ownership entity, August’s committed teams begin the exciting process of acquiring and renovating homes, keeping homeowners updated with monthly reports on progress.
A flexible booking system
Homeowners can schedule their stays through August’s intuitive online booking platform, which operates on a points-based system. Each owner receives an annual allocation of points that cannot be rolled over, offering flexibility for both long-term planners and spontaneous travelers. The system accounts for peak and off-peak seasons, with points required varying based on demand. Homeowners can even extend their stays or book last-minute trips without incurring point costs, provided there is availability.
Traditional timeshares typically limit individuals to one specific property and designated weeks, making resale challenging due to strict conditions. In contrast, August’s model provides the opportunity for co-ownership of multiple homes through a corporate entity, with no restrictions tied to specific weeks. If a homeowner wishes to sell their share, August assists them in finding a buyer, with reports indicating quick resales due to high demand for available collections.
The perfect solution for aspiring travelers
August caters to those eager to invest in a second home across Europe but who are reluctant to commit to a single location or deal with the complexities of overseas property management. With all properties maintained by August, owners can fully immerse themselves in their vacations, enjoying the comfort of a home without the stress of arranging accommodations.
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