What Is Home Co-Ownership? A Smarter Way to Buy a Holiday Home

Co-ownership has become much more common in Spain in recent years, but plenty of people still aren't sure how it works.
It's an increasingly popular choice for people who want their own holiday home without paying for, or looking after, an entire property on their own.
If you're wondering what co-owning a home involves, and how it could get you a place in your favourite holiday spot, we at Vivla explain it all below.

In practice, home co-ownership is simpler than it sounds.
Say you'd love a holiday home in Formentera, Menorca or Baqueira, but buying one outright is beyond your budget.
With co-ownership you buy a share of the property and get full use of it for your weeks, without paying for the whole house.
- You buy a share of the property: instead of buying the whole home, you buy part of it. A 1/8 share, for example, gives you six weeks a year in the house.
- Shared calendar and booking system: the home is shared between several co-owners, and each one books and uses it during their own weeks. Bookings are flexible and organised so that every co-owner gets fair access to the best dates.
- Shared maintenance and management: one of the biggest advantages is that you don't have to look after the house yourself. Maintenance, repairs and cleaning are split between the co-owners, so there are no logistics or nasty surprises to deal with while you're away.
- Legal ownership and the right to sell: unlike other shared models such as timeshares, where you don't own anything, co-ownership makes you the legal owner of part of the home. You have the right to use it and, if you ever decide to sell your share, you can.

Co-ownership is often confused with timeshare, because both involve sharing a property. In fact they work very differently.

1. Real ownership vs. a right of use

With co-ownership, each co-owner owns part of the property. Your share is a real asset, so you can sell it, transfer it or leave it to your heirs.
With a timeshare, you buy the right to use a property for certain weeks each year, but you don't own the property itself. That right usually can't be transferred, sold or inherited, so it's far more limited and can't gain value.

2. Flexibility and control

As a co-owner you have a say over the property and can take part in decisions about it, such as repairs or improvements, if you want to.
With a timeshare, control usually stays with the company that runs the scheme. Owners only get their allocated time and can't make changes or freely swap their weeks.

3. Shared costs and responsibilities

With co-ownership, running costs (maintenance, cleaning, taxes and repairs) are split between the co-owners according to the size of their share. That makes them far more manageable than paying for everything yourself.
With a timeshare you also share some maintenance and management costs, but purchase costs and annual fees aren't always clearly defined, and they can go up over time with little room for owners to negotiate.

If co-ownership sounds like the right way for you to buy a second home, Vivla can help.
Vivla specialises in luxury homes in some of Spain's most sought-after destinations, all sold through co-ownership.
If you've always wanted a home in Formentera, Menorca, Ibiza, Baqueira or on the Costa del Sol, somewhere to make memories with your family year after year, Vivla gives you a way to make it happen.

Why co-own with Vivla?

• Real ownership: you own a share of a luxury home, with your name on the title deed.
• Full management: we handle maintenance, cleaning and administration, so all you have to do is enjoy it.
• Flexibility: you get access to your home at the best times of year, through a simple booking system.
• Sought-after locations: homes in places like Formentera, Menorca, Ibiza and Baqueira.
• Long-term value: your share is a property asset, so its value moves with the home's, and you can sell it whenever you decide to.

Have a look at our co-owned luxury homes and find the one for you.