This as-told-to essay is based on a conversation with 61-year-old Doug Beachy, a Cincinnati-based business owner who bought a vacation home with Pacaso in 2022. Pacaso is a platform for fractional ownership of luxury vacation homes. The company allows multiple individuals to co-own a second home and share ownership of the property. This conversation has been edited for length and clarity.
Hilton Head Island’s scenic beauty and vast beaches have long been a favorite destination for Doug Beachy and his family. Instead of renting vacation homes annually, Beachy and his wife Jamie decided to take a different path in 2022. They opted for a fractional ownership model offered by Pacaso, allowing them to buy a share in a luxurious vacation home.
Family Dynamics and Home Space
Doug and Jamie have been married for 37 years and are parents to four married children with 16 grandchildren. Their Cincinnati home, though spacious at 4,000 square feet, feels cramped during family gatherings. This challenge led them to explore alternative options for family retreats.
“Once our kids started having children, they all moved back closer to home in Cincinnati, where we live,” Beachy shared. Despite having ample home space, gatherings felt hectic.
Exploring Fractional Ownership
The Beachys explored various homeownership options and discovered Pacaso. The platform allows families to co-own luxurious properties, offering a solution to their space issue without the need for full ownership or maintenance.
They settled on a spacious 5,000-square-foot home in Hilton Head with six bedrooms, a large kitchen, and an ocean view. This setup accommodates their large family comfortably.
Benefits of Co-Ownership
The decision to own a 1/8 share of a $5 million property proved to be a practical investment. Doug explained, “It sounds like a timeshare,” but emphasized its transparency and long-term investment potential.
Pacaso’s model eliminates personal maintenance concerns and unexpected fees, making it a hassle-free option for families seeking regular retreats.
Quality Family Time
With Pacaso handling property management, the Beachys focus solely on family time during their 44 reserved nights a year. The property offers various amenities, including bikes, a pool, and games, enhancing their vacation experience.
Beachy noted, “We just love how much more quality time we’re spending together as a family.” Their grandchildren eagerly anticipate these trips, enjoying activities like biking and pickleball.
