The post-bubble housing market for second homes has yet to recover, but there is a new twist on a concept that could make second home purchases more appealing in the coming decade: access to prime “third homes” worldwide.
PrivateCommunities.com has partnered with The 3rd Home LLC, an international second home exchange firm, affording owners of second homes the opportunity to exchange their properties with other second home owners from Paris to Costa Rica to Palm Beach. The modest fee of $495 for a two year membership allows second home owners to place their second home in the program to give them access to vacation homes around the globe.
“Second homes have plenty of advantages, but this new service changes the game,” said Elisabeth Miller-Fox, co-founder of PrivateCommunities.com, an internet portal that has showcased privately developed communities throughout the U.S. and the Caribbean since 1996. “People who have second homes can leverage one of their least utilized assets to get a 3rd home. This makes buying a second home more appealing to Americans and Europeans who may not want to limit themselves to one location.”
Although large timeshare exchange companies have developed a conduit for owners to access other locations, luxury second homes have not been made available this way. The partnership lets new members begin vacationing immediately through http://www.privatecommunities.3rdhome.com.
3rd Home is the first international second home program of its kind. The company touts the highest standards in the industry, is fully automated, simple to use and a trusted source for second home owners. It offers inviting homes on magnificent beaches, in vibrant cities and mountain resorts in the portfolio of residences.