How Pacaso Helps Shape Communities

Recently, Pacaso surveyed our owners across the country to better understand how we as a company can meet their needs, but also to continue learning more about how owners are engaging with and contributing to their communities. Why is this important? As co-ownership gains momentum as a viable home ownership model, we are focused on meeting the needs of our owners, and the communities in which they live.Roughly three quarters of owners surveyed said that they spend at least $1,000 per stay in the community where they live. For the small businesses in Truckee, California and the locally owned restaurants in Hilton Head, South Carolina, this means important additional revenue that helps to keep their doors open, especially during the off-season travel months. Research conducted by EBP, a national economics firm, found that co-ownership creates significant economic opportunity in communities. Pacaso homes generate nearly 10 times in annual household spending compared to the average second home. On average, Pacaso homes also generate 10 times more in state sales tax revenue and nearly 10 times more in local sales tax revenue, providing important additional resources for cities and counties. All to say, co-ownership, a growing trend in how people buy homes, is a major contributor to local economies. But the real story is how Pacaso owners are connecting in their local communities. In our recent owner survey, nearly two thirds of owners say that they have established personal connections with their neighbors and their local businesses. New neighbors swapping stories and family photos over a shared bottle of wine in the backyard and Sunday morning exchanges with the barista at your new favorite local coffee shop are the moments and memories that stand out most to me. When Pacaso owners invest in co-ownership, they are investing in more than just a vacation home. Families lay roots, build traditions, and over time, adopt and integrate into their new communities making them their own. While none of this is new for Pacaso owners, it’s encouraging to see these traditions and interactions building and growing.As we look ahead to what the rest of 2024 holds, I’m excited to see how co-ownership continues to benefit local communities. We look forward to all that is to come and to learning more about Pacaso owners are making these houses their homes.

How Pacaso helps shape communities

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