Skip to playerSkip to main contentSkip to footer
Pennygem
  • 10/20/2023
People are starting to get creative to set foot on the property ladder and are exploring options like fractional homeownership and multigenerational homeownership. PennyGem’s Johana Restrepo has more.

Category

📚
Learning
Transcript
00:00 (upbeat music)
00:03 People are starting to get creative
00:05 to set foot on the property ladder.
00:07 According to Forbes, people are exploring two options,
00:11 fractional home ownership
00:12 and multi-generational home ownership.
00:15 Those exploring fractional home ownership
00:18 can look into companies like Picasso,
00:20 which helps people own second homes
00:22 by allowing them to own a portion of a house.
00:25 It sounds like a timeshare,
00:26 but they specifically focus on family homes
00:29 and the amount of time you get to use the home
00:31 depends on how much of the home you own.
00:33 The minimum you're allowed to purchase is 1/8.
00:36 They handle everything for you,
00:38 like legalities, payments, and maintenance.
00:41 You just have to really do your research
00:43 because some of the homes are valued
00:45 as high as $750,000 a share.
00:49 The New York Times reports that multi-generational homes
00:52 where two or more generations live together
00:55 are on the rise because the cost of long-term care is rising
00:59 and so are the prices of homes.
01:01 If you think the process of buying a home with your family
01:03 will be a positive experience
01:05 and will be happy living with them, it's a win-win.
01:09 (upbeat music)

Recommended

1:12
Up next
These Are Some of the Most Popular Homeownership Alternatives That You Should Look In To
Pennygem
4/2/2025
1:12
What Homeownership Option Is Best for Your Family?
Pennygem
9/24/2024
1:07
How To Get Your Home Ready for Retirement
Pennygem
3/6/2024
1:15
Saving for a Down Payment on a Home Is Hard Work But Worth It
Pennygem
4/25/2024
1:08
How To Pay Off Your Mortgage Faster
Pennygem
9/22/2021
1:07
Getting Your Home Ready for Retirement
Pennygem
3/29/2021
1:15
How You Can Get Your Hands on That Down Payment for Your Dream Home!
Pennygem
5/1/2025
2:33
Home Renovations Done Right
LifeMinute.tv
10/12/2021
3:07
Real estate experts advise "houses before spouses" – buy with friends to step onto the property ladder
SWNS
4/8/2024
0:40
Randy Travis Is Reaching the Younger Generations With His Music
Southern Living
today
1:01
How to Make Fried Green Tomatoes
Southern Living
today
1:50
Retire at the Age of 55 With These Helpful Tips
Pennygem
yesterday
1:12
These Might Be The Two Most Important Types of Insurance That You Could Possible Have
Pennygem
7/1/2025
1:03
Should You Get That Joint Credit Card With Your Spouse?
Pennygem
6/26/2025
1:00
Pay Attention to These Mistakes You Might Be Making on Video Calls
Pennygem
6/25/2025
1:15
Stop Car Crime in Its Tracks With These Helpful Tips That Do Not Cost a lot of Money
Pennygem
6/23/2025
0:57
The Smart Way to Handle That Bonus Paycheck.mp4
Pennygem
6/20/2025
1:00
The Most Common Video Call Mistakes—And How to Avoid Them.mp4
Pennygem
6/17/2025
0:48
The Best Strategy for Retirees to Combat Loneliness.mp4
Pennygem
6/16/2025
1:00
Saving for a Down Payment Is Hard — But It’s Crucial
Pennygem
6/9/2025
1:22
Be Careful Financially If You Want to Install a Pool This Summer
Pennygem
6/5/2025
1:12
Should You Retire Or Actually Start Working Again?
Pennygem
6/4/2025
1:09
Why Did These Things That Used to Be Free Cost Us A Lot of Money Now
Pennygem
6/3/2025
1:09
If You’ve Been Laid Off, Use That Time to Learn New Skills
Pennygem
6/2/2025
1:04
If You’re The Friend With Less Money, Here’s How to Have Those Conversations
Pennygem
6/2/2025