Now is the right time to invest in your future
"We can see that our long-distance travels may not happen in the same way as in the past so having a choice of lovely houses to go to in a variety of places is hugely appealing."
- Fiona & David, Signature Collection
When we set out to create August, we wanted to help families own holiday homes in a way which made more sense. We understand homeownership is a long-term lifestyle decision so this investment should reflect how families envision to use their homes. Along with it are the perks of owning properties such as privacy, safety and the satisfaction that it's your own.
A global pandemic has really shaken things up. This "new" world has changed the way we live in so many ways, but how we work and adapt to this life is driving a new real estate market trend. With the shift to working remotely, popular second home destinations are seeing an unprecedented number of people looking to purchase holiday properties across Europe. This trend is followed by a surge in European House price stock making the dream of owning your private gate-away more expensive than planned as reported by the Financial Times.
"While the world suffered its deepest postwar recession between the first and second quarters, house prices in the richest countries not only kept rising but accelerated according to the OECD figures" - The Financial Times.
The ability to freely roam and travel may currently be limited but joining an August collection, just like buying a second home, is a long term commitment. So for many families joining an August collection now makes more sense than ever as it allows them to secure beautiful holiday homes in their favourite destinations for the many years to come.
Holiday ready homes as soon as early 2021
Our firm mission is to help families create these homes without the mind-bending stress that typically comes with buying and refurbishing holiday homes. However, the process of finding five potential August homes and renovating them to high standards takes time - to which you should expect 12 to 18 months for all properties to be ready for use. This is why our August families see great value in joining the current Signature Collection - because they want homes to escape to in 2021. The first two Signature Collection homes will be ready as soon as early April 2021.
"A few years back I started working on a project very close to my heart in Paris. It's done now but it took just over a year to complete and another year for renovations, not to mention the language difference. So I know very well, first hand what it means to not only own second homes but to renovate and design in a foreign country such as France! I won't be doing that again any time soon.
We love beautiful homes but know what's involved when it comes to the details and administration so it's really great that August just handles all of that. We're looking forward to visiting soon next year when we use our place in Paris as our base between the August homes. After all, this is a long term decision for us, so why wait?" - Lisa & Brian, Signature Collection
Demand for second homes continues to surge
With demand skyrocketing and supply staying level, there has been a big uptick in median sale prices in the 10 counties identified by Redfin as the most heated housing markets, with year-over-year increases ranging from 7% to 33%. Homes in those counties sold for as much as 57% over the listing price.
Rightmove also reported a 60% increase in searches for second homes in 2020. As such, many families are recognising the opportunity to better their lifestyle and have decided to take the leap to buy their dream homes in 2021. Experts also expect prices in sought after markets for second homes to continue to rise as soon as people can start arranging viewing trips. As the demands continue to increase, individual buying power starts to be squeezed, making it tougher to enter the second home market, especially within their initial budget.
The unique August concept offers many families a better way to own holiday homes in high demand markets by increasing their purchasing power through a unique co-ownership model. Allowing families to own multiple second homes in different destinations that are worth so much more than their initial purchase price.
By joining an August Collection, not only does your pound go even further as you multiply your buying power - by investing 325,000€, you will have access to five homes worth 1.3M€. You're also in the hands of professionals who ensure to get the best deals than any untrained buyers when it comes to searching, acquisition and renovations of your holiday homes. Check our Provence and Chamonix homes both values over 1.3M€ to see if our luxury properties are the right fit for you.
"I've always liked the idea of owning a holiday home especially this year with everything that's going on but I didn't realise it was possible to own multiple homes for a similar price until we started our home search. I didn't know much about co-ownerships and it took some time to convince my wife because initially, we had thought August was timeshare and that seems to get a bad wrap without really understanding how August is so different.
The team answered all our concerns owning equity is the biggest difference to timeshare but what was the most reassuring with August (and the main reason my wife agreed) is the fact that there are many families wanting to join a collection but only after the homes are ready. So the demand is there. It means that we can exit knowing that there will be families willing to buy right away." - Lila & William, Signature Collection
The confidence to get what you pay for without the unexpected
Most will agree that finding the right homes that ticks all the boxes takes time, but it is also often difficult to understand the budget required to renovate your home unless you're an expert and it is usually until you start renovating that you realise what is really required. It often takes twice the time, and costs twice what you've predicted!
“Once families find their dream home, the next stage is the purchase process when the language barrier is a frequent problem. The process is also long – very little in France happens quickly! Dealing remotely from your home country also makes it trickier.
Those who buy a property to renovate have greater challenges to face. Some bite off a bit more than they can chew and incur financial difficulties. Others bring their own team from their home country to help out, carrying out work based on their own experience whilst ignoring local building regulations, causing additional work and later additional expense, especially when coming to sell the property.
We hear a lot of these stories, so our aim is to provide families with as much information as is possible, and help them when they are facing difficulties.” - Ingram, French property industry expert of 25 years experience.
With August, you pay 325,000€ with a guarantee that five homes are purchased, designed, renovated and delivered within this cost. The first home renovations that are completed demonstrate a higher value that has been created on the homes than the renovation costs. This is the August commitment which is made possible by the extensive August resources and network, providing peace of mind for families without any unexpected overages.
Commit to a better long-term lifestyle, you'll thank yourself later
With property demand not slowing anytime soon, many families continue to seek out second homes as a getaway from their primary city residence to spend quality time together. It's also an opportunity to better their lifestyle. So why not finally make the move, after all, anything great takes time.
Any August family that joins the current August Collection will gain early access to the first two French homes without having to wait for the complete collection to complete by 2022. An appealing aspect that August offers.