What You Need To Know About Buying Timeshare

Author: Jon M Arnold

People within the US do not take enough time to relax. Their parents’ advice to “take time to stop and smell the coffee” usually ends at a hurried stop at Starbucks on their way to the office for yet another day of stress in corporate America. This is one of many reasons that buying a timeshare can look like a very attractive opportunity at a reasonable price, where the couple usually will make promises to take 2-3 vacations per year so that they can actually enjoy their timeshare purchase.

But purchasing a timeshare is not nearly the same as purchasing a house or even a condo. Some things are very similar but there are distinct differences that you need to be aware of, and you need to make sure that you have all the necessary details in front of you before you make any kind of go/nogo decision.

For example, when someone purchases a timeshare, as opposed to buying a house, they are NOT buying the structure and the property it sits on. Owning the timeshare means that the person have the ability to use the timeshare for a defined and very specific period of time each year. They do NOT have access to it at their leisure or whim 52 weeks a year, because OTHER people “own” the timeshare during those other weeks. That is basically where the name “timeshare” comes from, because you only own a SHARE of the unit.

That should not turn you off, that is the way all timeshares work but it is different than buying a house and you need to understand that huge difference. When buying a timeshare unit, you need to know that the owner has the responsibility to pay their share of the unit. If you are buying from a contractor or developer, they can usually provide some attractive financing options, but if you are buying from the previous owner, the normal expectation is that you will pay in cash.

It is also important for you to know that as part owner of the timeshare, you are expected to pay your share of the associated expenses, which would typically include the property taxes, the maintenance fees, and perhaps utilities as well such as water, electricity, sewer, trash pickup, and maybe even DSL or cable. Even if you currently live locally or within easy driving distance of the timeshare unit, you are likely to need to also pay your share of the management fees, which is assessed for the company that looks after the property on a day to day basis.

Although this might all sound negative, the right timeshare in the right location can be a great deal. It can provide you with a guaranteed place to take a vacation every year. If you purchase through a timeshare agency, there is also the possibility that you could swap your assigned week at this timeshare for a week at a different timeshare somewhere else in the world. This is in fact what most timeshare owners do, allowing them to experience different parts of the country and the world.

Purchase a Timeshare for Your Dream Vacations

Author: Gail Metcalf

Investing in a timeshare is ideal for people who schedule regular vacations. For a nominal fee, most timeshares let you journey to other timeshares around the world over and above the time your timeshare is available to you. If you select a destination that you want to return to every year, you’ll save a lot of money as opposed to residing in hotels.

Purchasing a timeshare will provide you with a 1 or 2 week resort, villa or estate that you can use every year or you can exchange it with any other timeshare in your category around the world. Write down all the destinations that you have discovered or those you look forward to visiting. This will assist you in locating the best timeshare location for you.

Now that you have decided purchase one for yourself, allow the time to assess which timeshare would be best for you. Finding a suitable timeshare for your vacation is not an easy task. There are many types of timeshares and you will want to ensure your money is spent on exactly what you want for a lifetime. Imagine owing your dream vacation spot and having the means to hand it down to your children. They will continue to enjoy your purchase with their family for many years to come.

You must do your research to find a place that suits you. You will want vacationing to be a pleasure not a chore. The first step in the process is to find the perfect location that suits your travel requirements. The number of rooms, amenities and accessibility to local attractions are some important points to be considered.

Start your research by defining your criteria. There are many types of timeshares and fractional holiday programs to choose between. Select a timeshare that matches your criteria and budget. Ask if you will be allowed to rent it out. This will be important if and when you find yourself unable to travel.

Many people save for years to take their dream vacation. Unfortunately, this vacation becomes one of just a few they are able to enjoy over a lifetime. By researching what timeshare options are available and matching your selection to your specific requirements, you will enjoy your dream vacation year after year.