Owning a &Hamlet

An overview of your ownership costs

By
Kristian Ellertsen
5
min read

A &Hamlet is more than just a building. It goes beyond carefully selected furnishings. It is more than the rich interiors. It is more than the well-equipped kitchen, more than the home gym, more than the home office workstation. A &Hamlet encapsulates experiences and memories. However, before making your purchase, it is essential to have the complete financial picture in place.

The price of an ownershare:

Acquiring an ownershare in a &Hamlet is akin to buying a traditional cabin or property. Yet, there are distinct differences: When purchasing an entire cabin, one typically receives an empty "shell", requiring a time-consuming process of interior design, furnishing, possible upgrades, and eventually moving start using the cabin. Additionally, there are always closing costs when buying a vacation home. In Norway, these costs amount to nearly 3% of the purchase price, while in Spain, it reaches 12-14% of the purchase price. At &Hamlet you purchase a fully furnished holiday home, with professionally executed interior design and furnishing, including everything imaginable for your dream retreat. Moreover, every &Hamlet is equipped with over 100 types of extra amenities and facilities. All transaction costs are also included in the price.

The price for a 1/8 ownershare consists of the following elements:

  • "Listing Price": This is the purchase price in the market, as seen on platforms such as Finn.no, Blocket.se, or JamesEdition.com. There are always additional costs when acquiring a vacation home.
  • Transactions costs and Finalization: We pour a dose of love into each property. All homes feature modern designs and updated qualities, and if necessary, we carry out minor surface renovations and interior redesigns. All the amenities needed to make the most of your time at your holiday home are included. This encompasses everything from furniture and major items like sofas and a large dining table, to in some cases even a jacuzzi, to the waffle iron, wine glasses, and all baking equipment. Each home is uniquely furnished by our interior designers. Real estate transaction costs are also included in the share price, covering everything from document fees, taxes, registration fees, to broker commissions.
  • &Hamlet Service Fee: This covers the buyer aggregation and vetting of the owners, as well as establishing the legal structure for co-ownership.

By summing up these elements and dividing by eight, you arrive at the price for a 1/8 ownershare, as listed for each &Hamlet under Listings.

For owners interested in financing, &Hamlet collaborates with Nordea, offering competitive mortgage loans with personalized, tailored guidance and service to suit you and your finances.

Keeping the wheels running:

To ensure your &Hamlet is always well-maintained and ready for your arrival, we take care of the property management. This includes ongoing maintenance, cleaning, and bill payments. As an owner, all you need to do is show up and enjoy your time. Here is where the advantage of shared ownership becomes evident: When you share the ownership, you also share the costs. In fact, you have lower monthly expenses when owning a ownershare in a &Hamlet than if you owned an entire cabin of the same value as the ownershare; even when accounting for &Hamlet's additional contributions. We also do not mark up the operating expenses; you pay at cost.

Operating expenses are outlined in an annual budget, paid in advance each month, and include items such as:

  • Ongoing and preventive maintenance: Regular upkeep such as gardening, snow removal, pool cleaning, and ad hoc maintenance, as well as setting aside funds for future maintenance, upgrades, and replacements.
  • Cleaning: Each home is thoroughly cleaned and inspected between each owner's stay, with basic supplies replenished. When you arrive at your &Hamlet, you can be sure of that wow feeling every time. Cleaning is invoiced per use.
  • Municipal fees and insurance: &Hamlet manages the payment of these bills, and you contribute only 1/8 of the total amount per share.
  • Electricity and other utilities: Electricity, heating, and gas are billed based on usage.
  • Property management: This includes accounting, coordination of suppliers, and ensuring the property's day-to-day needs are met. &Hamlet collaborates with several local actors, including cleaning services, ensuring exceptional quality control.
  • Internet and TV: High-speed internet is provided, allowing you to take a few Zoom meetings in between leisure activities.

Everything taken care of: 

Owning a holiday home can involve a lot of work, worries, and costs, especially when the property is located in another country. &Hamlet eliminates potential concerns that may arise when owning a holiday home, particularly when owning together with others. We take care of maintenance, cleaning, and ensure fair usage distribution. In the fixed monthly platform fee of NOK 1,000/€ 99, the following is included:

  • Collecting monthly payments for operating expenses and managing payments for the co-ownership group.
  • Continuous development and new features in the &Hamlet app and other technology.
  • Supervision and administration of the co-ownership, including handling any discussions and voting.
  • Support for owners.

We believe in full transparency, so the price you see is what you finally pay for your 100% fully-furnished dream home. You only need to bring your toothbrush.

Kristian Ellertsen
CEO
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