6 Second Home Down Payment Options for 2023 | Pacaso (2024)

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• 8 private and semi-private airlines to consider for your next vacationFor most travelers, the flight is a means to an end — a way to get to your destination but certainly not a highlight of the trip. With long security lines, limited leg room and inconvenient flight times, flying commercial is usually far from luxurious. Alternatively, an ever-growing list of private and semi-private aviation companies are ready to whisk you away on your next vacation. Here’s what you need to know about ditching commercial carriers and choosing a more comfortable, convenient flight. Private aviation vs. semi-private aviation You may hear the terms “private airlines” and “semi-private airlines” used interchangeably, but there are a few important differences between them. Private You charter an aircraft and crew to whisk you and your companions from point A to point B. Private aviation has plenty of perks. Since most operate from smaller airports or FBOs (fixed-base operators), you can arrive just a few minutes before takeoff or relax in a lounge before your flight. Inflight, the only other passengers will be your traveling companions, and you’ll have plenty of space to stretch your legs. The customer service is top notch, too. Of course, flying private doesn’t come cheap. Prices start at between $1,250 and $3,000 per hour of flight time for 4-6 passenger planes, and prices go up from there. Some private jet companies offer memberships, where you pay a flat yearly rate for access to flights with as little as 24 hours' notice (an hourly charge still applies). Semi-private This offers many of the same benefits of flying private, but without quite as much sticker shock. You’ll still enjoy a quick security screening and boarding process, great customer service, and the convenience of flying out of smaller or private terminals. You’ll fly on smaller, often more luxurious aircraft, but unlike private aviation, you’ll be sharing the space with passengers who are not in your party. Semi-private flights are most commonly available for flights of two or three hours or less. Costs vary based on duration and destination, but you can expect to pay more than a commercial flight and quite a bit less than true private air travel. Top private and semi-private aviation companies There are many choices when it comes to flying private or semi-private, and each company structures its offerings a little differently. Here’s what some of the most popular companies offer their travelers. 1. SurfAir Considered one of the more affordable options for semi-private travel, 2. Aero Launched in February 2021, Aero is one of the newest companies on the scene. Similar to SurfAir, Aero offers personalized concierge service, luggage service, a curbside welcome, ground transportation coordination and pet-friendly flights. The planes themselves are works of art, with custom-designed interiors that feature dynamic lighting, professional sound systems and hand-stitched Italian leather seats. 3. FlyExclusive FlyExclusive owns a fleet of over 90 planes, including light jets, mid-size jets and super-mid jets available for both domestic and international trips. 4. JSX 5. Blade With a fleet that includes jets, turboprops, helicopters and seaplanes, 6. NetJets NetJets is one of the best-known carriers in the semi-private and private aviation space, and for good reason. It’s the biggest and oldest private jet operator, founded in 1964, with 700 planes in its fleet from Embraer light jets to 14-seat Bombarbiers. Unlike carriers that pair membership fees with per-hour flight charges, 7. XO With Membership costs vary significantly. For $595 a year, you can purchase individual seats on private jets. This option can be appealing to occasional fliers. Full membership is available with a minimum deposit of $100,000, which you can use to schedule flights and seats on XO’s fleet of over 360 aircraft. The highest tier of membership is available with a minimum deposit of $250,000. It boasts priority access to the fleet, no blackout dates and a price cap for non-peak days. Membership isn’t the only option. You can also fly on demand by searching on their website or the app and choosing from non-member rates. 8. Wheels Up Another big player in the private jet scene, Wheels Up members enjoy a myriad of on-the-ground perks, like invites to exclusive events, the ability to earn Delta miles and elite status, president’s circle status with Hertz, and more. Jet set to your dream second home With private or semi-private air travel access and a second home in your Looking to fly to your second home in style? As a Pacaso owner, you can also enjoy complimentary Read
• How to own abroad with ease: Unlock hassle-free international co-ownershipExplore how Pacaso simplifies international property ownership for buyers, offering a seamless experience to own luxury properties in top global destinations such as Paris, London, and Cabo. In our recent webinar, Pacaso's SVP of New Development, Head of Sales for Mexico and Senior Director of European Expansion take a deep dive into the ease and benefits of co-ownership abroad. Key takeaways include: Read
• 5 pro tips for hosting guests in your vacation home this summerEmbrace a sunny state of mind and become the host with the most this summer. Here are five tips for wowing your guests and throwing the ultimate summer party — all of which are made easier when you own a Pacaso vacation home. 1. Give guests a warm welcome Nothing makes a bigger impression on guests than your welcome. Greet friends and family with their favorite co*cktails, freshly plumped pillows, flowers by the bed or new towels. Little things can instantly make them feel right at home. If you’re an owner of a Pacaso, you can easily invite your guests to view your stay details in the app. This gives them direct access to arrival and departure information, Wi-Fi, home amenities and home manager contact, all of which makes settling into your home a breeze. 2. Supply the summer essentials Pool time is likely on your summer party agenda. As a host, you’ll want to provide towels, sunscreen and plenty of refreshments for your guests. If you’re near the ocean, beach towels, umbrellas and lounge chairs are also an absolute must. These essentials are key to keeping your water-loving friends comfortable and prepared. Depending on the location, many Pacaso homes feature outdoor umbrellas, pool floats and outdoor games to maximize the fun. Plus, every vacation home includes a private storage locker for you to keep supplies handy. 3. Host an al fresco feast Nothing says summer like a memorable meal outdoors. Plan an al fresco hour on your balcony, patio or backyard. Prepare an assortment of make-ahead cold dishes, entrees for quick cooking on the BBQ and store-bought deli options. This makes it easier for you to spend more time interacting with your favorite people. As temperatures drop at night, provide outdoor blankets and throws to keep everyone cozy. As a Pacaso owner, you can expect a fully equipped kitchen with all the pots, pans, tableware and accessories you need for your outdoor feast, along with outdoor seating, lounges and deck space. Some homes also feature an outdoor kitchen, along with heaters and fire pits for breezy summer nights. 4. Provide outdoor Keep your guests entertained with a variety of entertainment options. Things like cornhole, card games, board games and a curated collection of summer movies ensure there’s something to entertain everyone. If your home is near the mountains, consider providing equipment for biking, hiking and any other outdoor activities to make the most of the season. Every Pacaso home contains classic games like Jenga, backgammon and playing cards, and select properties have theater rooms, pool tables or access to pickleball courts. Some of our homes even include a golf cart. 5. Provide comfortable guest accommodations Summer gatherings are best when you’re with everyone you love, so make sure your home can comfortably accommodate them overnight — especially after a long, warm day. Each guest room should have crisp sheets, cozy blankets and plump pillows so your guests get a restful sleep. You’ll find spacious guest rooms and bunk beds at every Pacaso home — all equipped with quality mattresses and bedding, duvet inserts, down pillows, throw blankets, hangers, a hamper and luggage rack. Summer gatherings made easy Ready to host a summer shindig in a vacation home of your own? Pacaso second homes are equipped with every essential you need to be an extraordinary host. Explore our listings in Read
• Webinar: 5 ways to get a deal on a Pacaso before summerFrom leveraging Pacaso's low financing to accessing lower-priced homes in thousands of new destinations, watch to learn the insights you need to make a smart and affordable Pacaso purchase just in time for summer. Hosted by Whitney Curry, Pacaso's Chief Marketing Officer and Joe Maehler, Chief Investment Officer, they'll share five ways to secure the best deal on a Pacaso vacation home. Read
• The best times to visit FloridaFlorida has a lot to offer vacationers: year-round sunshine, gorgeous beaches, fun-filled attractions and more. According to Sun-worshiping vacationers flock to Florida during every month of the year, but if you’re hoping to ensure a great travel experience — and avoid crowds, hurricanes and high prices — here are a few things to consider. What to expect each season in Florida Winter December, January and February are great months to visit Florida. While much of the country is battling cold weather and winter storms, the Sunshine State boasts temperatures in the 60s and low 70s in the northern region, and 70s and low 80s in South Florida. Rainy days are rare this time of year, making it a great time to explore. You’ll enjoy fewer crowds than other times of the year, but keep in mind that Florida has roughly one million seasonal residents (aptly named “snowbirds” who flock to Florida during the colder months) so you’re not likely to have the beach all to yourself. Spring Weather-wise, March, April and May are some of the best months in Florida. Sunny days abound and rain levels are minimal. Unsurprisingly, it’s also a busy time of year for tourists, so be prepared for higher-than-average hotel costs and plenty of people in and around popular tourist attractions. If you plan to visit beach towns like Panama Beach and Daytona Beach but don’t want to relive your college years, avoid March and April. These towns, and a few others on the Florida Panhandle, turn into spring break hotspots for young revelers from around the country. Summer Some like it hot, and if that’s you, visit Florida in June, July and August. Temperatures are regularly in the 80s and 90s, with high humidity and frequent afternoon storms. Temperatures can be even hotter inland, where you won’t have ocean breezes to cool you off. Speaking of storms, it’s important to note that the Atlantic hurricane season traditionally begins in June, so be sure to pay attention to the weather forecast before and during your trip. Despite the soaring temperatures and hurricane risk, summer is still a popular time for visitors, especially families. Fall Autumn brings slightly lower temperatures and smaller crowds, making it a great time to visit. Across the state, you’ll find fall festivals, from the Hotel rates start to drop after Labor Day, making the fall a more affordable time to visit. It’s important to remember that the Atlantic hurricane season runs through the end of October, with the most activity occurring between August and October. If you’re traveling to Florida during any part of hurricane season, it’s smart to buy travel insurance. The best time to visit Florida theme parks The Orlando area, the epicenter of American theme parks, is home to Walt Disney World Resort, Universal Orlando Resort and LEGOLAND Florida, among others. You’ll also find no fewer than seven water parks to cool off on hot days. Any Disney aficionado will tell you there is no crowd-free day at Disney World or other area parks. However, you will find Florida theme parks to be less crowded right after the holiday season (January and February) and in September, once schools are back in session. Regardless of the season, your best bet is always a weekday trip. The best time to visit Miami Miami is an action-packed South Florida destination every month of the year, but the best time to visit depends on your preferences. Winter offers the mildest weather, without the sky-high temperatures or sticky humidity. Yet you’ll have to contend with crowds and high hotel prices. In summer, the temperature is hot but the deals are next level. The best time to visit the Florida Keys A 125-mile-long archipelago off the coast of South Florida, the Florida Keys are a unique destination. With island vibes and incredible natural beauty, the Keys are a bucket-list destination for many. But The Keys have distinct rainy and dry seasons. The rainy season runs from May to October, during which time the islands get the majority of their yearly rainfall — not to mention hurricane risk. The dry season is the most popular time to visit, as you’ll enjoy average temperatures in the 70s with very little rain. As with much of the state, prices and crowds are lower in the summer, but the weather can be unpredictable. Find your year-round Florida getaway with Pacaso If Florida is your favorite vacation destination, perhaps it’s time to make it official! As a second home owner in the Sunshine State, you’ll enjoy a place to call home, without the unpredictability of hotel costs. Pacaso has luxury vacation homes Have a property in mind? Read
• Guide to buying property abroad as an American (and how Pacaso makes it easy)International real estate has its benefits, but the complexities can be intimidating and risky. From navigating legal regulations and language barriers to working with local vendors and securing financing, buying a home abroad requires careful consideration and expert guidance. If you’re looking to Understanding international markets Like owning a second home in the United States, an international second home offers many benefits. The main advantage is having a familiar place to enjoy every time you and your loved ones vacation abroad. However, international real estate ownership comes with unique challenges. First, buyers need to comply with regulations that can vary greatly from country to country. For example, in Mexico, people from outside the country are restricted from owning residential property in certain areas. Canada When you buy a Pacaso vacation home abroad, we do the work of understanding the local market. Our legal team conducts thorough research and background checks tailored to each locale to ensure your home (or Navigating international loans, financing and taxes When buying a home abroad, buyers will also need to consider tax regulations and navigate financing. Foreign buyers often face obstacles in securing a loan because they are perceived as high-risk by local banks and international home loan lenders. Pacaso simplifies this process by offering Researching legal and administrative processes In the United States, buyers are used to signing a deed when purchasing a home and recording it at a county office. As an international buyer, you will need to research the procedures and departments for the specific country you want to purchase in. You might also consider working with local legal counsel and agents to streamline documentation and ensure a smooth transaction. When you buy a Pacaso second home, our team conducts these administrative processes on your behalf. From signing deeds to navigating notary departments, Pacaso takes care of the nuts and bolts so that you can focus on enjoying your new home. — Managing your home remotely Owning (and enjoying) your vacation home goes beyond the initial purchase. Managing a property overseas can present its own set of challenges, like conducting routine maintenance and responding to issues. While you might consider hiring a Pacaso provides a safety net for you by Buy a home in another country with confidence Pacaso's mission is to match more people with their dream vacation home — including homes in another country. Our co-ownership model facilitates buying and affording a luxury home abroad. While international real estate can be a difficult undertaking, we make the process manageable. By conducting — Meagan Licata, Pacaso Real Estate Senior Counsel Ready to find your vacation home? Contact our team to explore our Read
• Free down payment calculator + tips to calculate your ideal payment in 2024Dreaming of owning your first — or We crunch the numbers to estimate how much home you can afford and how much cash you’ll need, plus share helpful tips to discover your ideal down payment. How to use the down payment calculator To use our house down payment calculator, you’ll need to pull together somefinancial data, enter it into the calculator and review your results. Here’s how to use the down payment calculator. Step 1: Gather home data Assemble the financial information relevant to the home you want to purchase. Here’s what you need: Step 2: Enter your data into the calculator Next, you’ll enter your data into the calculator. Step 3: Review your results Once the calculations are complete, it’s time to see how much down payment you can afford for this home price. Now that you know how to calculate down payment estimations with our calculator, let’s explore the manual way to calculate down payments. How do I estimate a down payment manually? Here’s a step-by-step walkthrough of estimating your down payment, which will help you determine if you can You can use this process to calculate the down payment for any home, but understanding the long-term costs is also important. Down payment calculator example Here’s an example of how the home down payment calculator works using a theoretical home listed at $500,000. Tips to figure out the right down payment amount for you To ensure that you’re able to achieve your home ownership goals and remain financially healthy, keep the following tips in mind while using our mortgage down payment calculator. Assess your financial situation Before embarking on the home buying process, review your financial situation. Take stock of the following factors that can influence your down payment amount: Your financial situation doesn’t need to be perfect to qualify for a home, but a healthy amount of savings can help smooth the home buying process. Consider your funding options There are several ways to source the cash you need for a down payment. Here are a few Carefully evaluate the pros and cons of each funding option based on your financial situation and long-term goals. Consulting a financial advisor can provide personalized guidance for your home ownership goals. Anticipate closing costs In general, If you don’t pay closing costs in cash upfront, they’ll roll into your mortgage and can affect your monthly payments and the amount of interest you pay during the duration of your loan. Choose a loan with care While lenders are motivated to provide you with the highest possible loan amount due to interest incentives, it's important to note that Saving for a higher down payment that reduces your loan amount may benefit your financial health in the long run. In terms of the length of a loan: What to look at when calculating a second home down payment When A down payment calculator can help you quickly understand if your ideal home is within reach or if you need to make financial adjustments to prepare for your next home purchase. If you want to Read
• 20 types of vacation homes [plus, tips on how to choose one]With a blend of comfort and privacy, 1. Condominiums Condominiums are multi-family units within a larger building. Condos are a convenient, relatively low-maintenance option and may feature 2. Villas Villas are typically larger, freestanding homes offering ample space and privacy in a tranquil or 3. Cottages Cottages offer a charming escape for those seeking a simpler, more intimate vacation experience. These quaint dwellings often feature fireplaces and rustic decor. This 4. Cabins A cabin serves as the perfect 5. Chalets Chalets are quintessential 6. Single-family homes Single-family vacation homes are the best 7. Beach houses 8. Lake houses A lake house can be a 9. Mansions 10. Townhomes Townhomes blend condo-style living with the feel of a single-family home. These multi-story residences share one or two walls with neighboring units but have their own private entrances and, often, small yards or patios. Townhomes are great for vacationers seeking an urban escape with easy access to restaurants, shops and attractions. They can also be a good option for 11. Apartments An apartment is a convenient and affordable option for shorter vacations in cities or neighboring suburbs. You will often find these multi-family units within large complexes. They provide basic living amenities and a place to rest your head after a day of exploring. Apartments come in many styles, containing both luxury and budget-friendly vacation accommodations. 12. Studios Studios are compact living spaces with affordability as its biggest perk. They are often in prime urban locations that put you steps away from the action. Plus, with minimal cleaning required in a single space, 13. Timeshares Owning a 14. Short-term rentals 15. Aparthotels Aparthotels, or 16. Lodges Lodges are full of rustic charm and a sense of remoteness, perfect for those seeking an escape into nature. Many lodges provide staff-guided adventures and excursions, allowing you to fully immerse yourself in the natural environment.The communal atmosphere of lodges fosters social interaction with fellow travelers, creating a unique opportunity to share stories and experiences while vacationing. 17. Bungalows Bungalows are single-story dwellings known for their compact size and charm. They offer a cozy, affordable option for couples or small families who want to share a small space. The simple layout with minimal living space encourages quality time together. You will often find bungalows in 18. RVs RVs, or recreational vehicles, are the poster child of travel flexibility while vacationing. They come in various sizes and offer a range of amenities, from basic campervans to luxurious motorhomes. This allows you to customize your experience and choose a vehicle that satisfies your vacation needs. RV parks can provide convenient overnight locations with amenities like hookups for electricity and water. 19. Houseboats Houseboats are a great way to vacation on lakes and rivers. Cruise waterways in some of the country's most 20. Unusual homes Unusual homes represent a chance to stay in one-of-a-kind or quirky accommodations, from tree houses nestled in a forest to converted windmills and traditional yurts. These unique properties provide an unforgettable experience and a chance to connect with nature in an innovative or time-honored way. This vacation home option is perfect for avid travelers who want to try something new. Tips for choosing a vacation home type Here are some key factors to help you narrow down your search and find your perfect vacation housing. Be clear on its intended use Consider your budget Calculate travel logistics Decide how remote you want to be Determine if you’ll rent it out Ready to find the best vacation home? With so many types of vacation homes available, there are sure to be a few options that best suit your and your loved ones' needs. Beyond the initial excitement, however, the prospect of managing and maintaining your vacation home on your own may feel daunting. That's why Explore our Read