Our model is very simple. We bring together 21 families or individuals to form what we call a 21-5 Owners’ Association. We search, purchase, and develop five vacation homes in five carefully selected destinations for the 21 families. Once the homes are ready for occupancy, we act as the owners’ association’s managers.
At 21-5, we handle all the complexities. From finding the perfect homes, negotiating and purchasing them, to renovating and furnishing them, to refurbishing and preparing them for the families in the association. Once the vacation homes are in use, 21-5 remains involved as the management of the association and the homes, ensuring that everything is well-organized and runs smoothly—from assisting with the association’s annual general meeting to cleaning the pool, grounds, gardening, and much more.
The homes are not purchased upfront; they are selected and purchased only after the association has been established and the first families have made their payments and had the opportunity to express their preferences for the features of each location. We often have interesting prospects in mind when establishing a housing association, but we only purchase the properties once the first families have signed up.
In a 21-5 owners’ association, you can become co-owners of up to five holiday homes, primarily located throughout Southern Europe. You share ownership with 20 other families and share all costs and use of the properties. 21-5 has no ownership rights in the properties or the owners’ association, as all 21-5 owners’ associations are 100% independently owned by the 21 families.
Families join the owners’ association based on a brochure and documents outlining the properties they will co-own, the general terms and conditions between the families, and the membership fee.
In its simplicity, it makes sense for families to join together and jointly own multiple holiday homes, rather than each family buying their own. For some families, it’s the desire to be free from the hassle and responsibility for the maintenance and operation of individual homes. For others, it’s the economics: when you share, you simply get more bang for your buck.
As a family, you can buy your own vacation home anywhere in the world with an investment budget of €435,000, but you’re limited in size and location to stay within your investment budget.
You can also choose to invest the same amount in a 21-5 Homeowners’ Association. In that case, you become co-owners of as many as five vacation homes in carefully selected, attractive destinations. It’s important to know that these five homes have an average value of more than four times your investment. On average, each home will be worth more than €1,800,000. This is one of the decisive factors, along with many other obvious reasons, why 21-5 is making sense for a growing number of families.
Most private vacation homes, when not in use or rented out, remain empty for a large part of the year. Many vacation homes are only used for a few weeks a year, which we believe is a huge waste of resources and a disgrace to the property, the surrounding area, the local community, and businesses. Because multiple families jointly own multiple homes, they are occupied more often, which benefits the association. Moreover, an empty home is simply not cost-effective. It is also very beneficial to the local community, including local businesses, because it increases their activity.
Regardless of your perspective on the 21-5 concept, it’s hard not to be fascinated by the beautiful homes we find and create for our families.
We know that 21-5 isn’t for everyone, but interest is steadily growing, and more and more families are seeing its benefits.
Reservations are made through the user-friendly members’ website of the Homeowners’ Association. The system is designed so there’s no rush to reserve the most attractive vacation weeks; booking is done in peace, from the comfort of your own home and at any desired location. The booking system is designed to ensure a fair distribution of the most attractive vacation weeks, so that first-come, first-served availability isn’t a problem or a deciding factor.
On average, each family stays in the homes for a total of 12 weeks each year. This is usually more than enough. Families in our established Homeowners’ Associations book an average of 9 weeks per year, leaving plenty of time in their schedules for spontaneous vacations and short weekend getaways. Some families are happy to lend their homes to neighbors.
