This company pays for the renovation of a piece of your home

A company offers to take care of all your renovations, in exchange for a stake in your home.

Sell ​​a piece of your home for finance the work this is what the Vasco company offers. Its concept: to buy a share of your property to allow you to recover the money needed for the renovation.

Let’s take the example of a house worth 400,000 euros, with work estimated at 40,000 euros, or 10% of the value of the property. To provide you with this sum Vasco will therefore become the owner of just over 10% of the home because the company is interested in it.

It will therefore pay the equivalent of 10% of the value of the property but will actually own 13%. The company will own part of the walls but not their use. And this contract has an expiration date: within 10 years, the famous share must be repurchased.

The operation could cost you much more

But be careful, it will be at the value of the moment. In other words, 13% could be worth much more than the 40 thousand euros of work initially financed. Especially since the renovation of the home should also give it more value and therefore increase the price of the share you sold.

Better to pay in advance and above all to repay as quickly as possible. You do not have to wait until the end of 10 years to redeem this share. At any time, after evaluating the price, you can repurchase full ownership.

For those who want to go even further, Vasco can extend it for another 10 years but will have to give up a little more ownership of their home.

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