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What is shared ownership?

Shared ownership means you and other co-owners share the legal ownership of real property and enjoy exclusive use of the entire home during scheduled reservation periods. Shared ownership is not a timeshare because each owner holds a legal interest in the property and you truly have a place to call "home".

Each owner and his or her family and guests will enjoy all the benefits of Savvy's concierge services while in residence. A storage area may be provided for owners' personal items that can be stored between visits to their home.

What is Savvy?

Savvy is a vacation home experience company. Savvy assists buyers of vacation homes in purchasing, managing, and selling co-ownership interests in their dream home. Savvy offers end-to-end service handling all aspects of the vacation home experience, from purchasing the home to managing the home once it's purchased.

Will I own the property?

Yes. You and your co-owners own 100% of the property through an LLC. Ownership interests can be resold, willed, placed in a buyer’s personal name, trust, or corporation

Can I own a share in more than one Savvy home?

Yes. Some owners prefer to buy more than one Savvy home. This allows the owner to enjoy vacation home living at diverse locations.

How many weeks do you get each year?

Savvy offers two luxury ownership structures to fit the lifestyle of our owners -- 1/8 homes and 1/12 homes. The difference between the two experiences is simply how many owners there are in each home.

Our 1/8 homes have anywhere from 2 to 8 owners in the home. Owners may purchase 1/8 to 1/2 of the residence. 1/8 owners receive 45+ nights per year in residence. 1/2 owners receive 180+ nights per year in residence.

Our 1/12 homes have anywhere from 2 to 12 owners in the home. Owners may purchase 1/12 to 1/2 of the residence. 1/12 owners receive 30+ nights per year in residence. 1/2 owners receive 180+ nights per year in residence.

Additional time is also available and will be on a first-come, first-serve basis as reservations are used.

Are the homes fully furnished?

Yes. Savvy homes are exquisitely furnished by a professional interior designer. Each home features complete audio-visual, linen and kitchen packages.

Will a Savvy home appreciate in value?

Savvy homes appreciate in value just like other homes on the market. You may resell your ownership interest at any time after the first year of ownership, at any price you want. You'll work with a real estate agent who markets the home just like a whole home real estate listing.

What if I want to sell?

After 12 months, you can sell your interest in the property at any time. It works just like a typical real estate transaction. You will work with a real estate agent to market the home, just like you would for any home sale.

How are my co-owners selected?

We look at each applicant to a home and ensure the home is a good fit for them and other co-owners. All owners agree to a common-sense owner code of conduct.

Can I finance my purchase?

Yes. As a Savvy buyer, you may use any source of capital such as home equity financing or cash.

Does this work like a typical real estate transaction?

Yes. The closing process and transaction documents are similar to a typical real estate transaction. We partner with local real estate agents and pay full commissions to streamline the process for buyers and sellers.

Who will be responible for maintenance and repairs on the home?

Savvy manages all the details of routine maintenance on the home, including landscaping, gutter cleaning, and pool maintenance. Savvy also arranges any repairs, through locally hired professionals.

Can owners rent out the residence?

No. By agreement of the owners and to maintain the quality of the owner experience, the homes are reserved for the exclusive use of owners and their guests.

What if a co-owner damages the home?

We find that co-owners take pride of ownership in their Savvy home. Homes are inspected after each use. Should damage beyond regular wear and tear occur, the repair costs will be billed to the owner who was using the home.

How do I schedule use of the home?

You book time using the Savvy owner app. It’s easy to use and equitable for owners, based on the number of shares you own. The system supports two types of stays: planned and last-minute. Planned stays are scheduled 8 days to 24 months in advance, and each owner has access to a planned stay that falls on a special date (e.g., federal holidays). Last-minute stays are booked 1 to 7 days in advance of arrival.

See additional scheduling questions for more details.

Can owners use an LLC or trust to buy their share?

Yes. You may purchase your share under your individual name, the name of an LLC, or the name of a trust.