What Do You Know About Timeshares?

A piece of property that is shared among a number of owners is called a timeshare. Even though many timeshare properties are condominium resorts, it is becoming more common to find timeshares that involve cruise ships, motor homes, hotels, or even campgrounds. The concept of timeshare properties gained strength during the 1960s in Europe as real estate rates were dramatically increasing and vacation homes are becoming unaffordable. However, when the ownership of a property is shared between many people the burden of maintenance and other costs become greatly reduced for the individual. This allowed for more people to own a vacation property and for real estate developers to market the properties to a larger number of people. The key to a timeshare property is that it is owned by a number of people with no connection to each other.

With a more traditional timeshare, the owner controls the use of a single property during a single block of time. However, just as timeshare ownership has grown in popularity, the flexibility of ownership has also increased. Under a more flexible ownership option, you may have a choice of choosing from more than one timeshare destination, as well as choosing the time period in which you will use the property. This means you won't be limited to a specific time of year.

Since timeshare properties are commonly used for vacation, they are often found in warm destinations such as Florida, but they may also be found near ski resorts, lakes or golf courses. A typical timeshare property will have between one and three bedrooms, several bathrooms, a kitchen and a living room. Most locations will also feature pools, day spas and fitness centers. A variety of amenities are common features at most timeshare locations today.

Most timeshare properties are owned in one-week increments. The price of purchase a week of use varies depending on the location and the time of year that you own the property. Essentially, rates vary depending on demand during different seasons at that location. For instance, the ownership of a timeshare property during the month of June in Southern California will carry a higher cost than it will during the month of October. It is common for resorts to use color codes that indicate increasing demand during various high use seasons. Therefore the color red may indicate a high demand for the timeshare property and you can expect that to translate into a higher cost of purchase.

Since timeshares are deeded real estate properties, they can typically be inherited by your children. this makes them a great long term vacation investment that your family will benefit from for years to come. It is also possible to rent out your timeshare to others when you are not using it. Since it is your property, you will receive the full value of rental income that your timeshare can generate. another advantage to timeshares is the fact that they can be exchanged or traded with other timeshare properties. Just remember that when trading the use of your timeshare during a low demand season, it may be difficult to find another person that wants to use the property during that time.

Just as in purchasing any other piece of real estate, a timeshare property may be purchased in cash or through some type of financing. The cost of the management of the property, as well as the maintenance of the facilities is spread out among the owners through the payment of annual fees. Fees may vary widely depending on location and should be considered prior to purchase.

There are many different types of timeshare ownership options to consider before making a purchase. however as indicated by its growing popularity, timeshare ownership can be a great long-term investment option for your families future vacations.

If you are interested in timeshares and want to learn more about owning a Timeshare Property, or if you want to network and associate with other timeshare owners, visit We Own Timeshares.com. We Own Timeshares.com is a new social network full of Timeshare Information. It is free and easy to join this timeshare social network.