Over the last several decades, the popularity of timeshares has grown by many folds. So much so that over two million Americans have timeshare properties, both in and out of the country. But the rise of timeshare industry also saw the rise in scams and frauds. More recently the timeshare industry has been plagued by unscrupulous activities of frauds and scammers. Notwithstanding these serious problems with timeshares a new breed of alternatives are emerging. One of the main reasons why people were attracted towards timeshares was that it will be an expensive affair for a big family to vacation every year at a hotel or a resort. Timeshares proved to be an economical solution to all that.
Most times, a timeshare property provides a good value for its cost. However, there are large upfront purchase costs, which must be paid. Purchase prices can range from $5,000-$50,000. Furthermore, the owner of the property is responsible for property taxes and make as well as maintenance and management fees that support the upkeep of the property. These fees can range from $200 to more than $1000 per year. Occasionally these fees outweigh the long-term benefits of timeshare ownership.
Exchange programs allow a timeshare owner to trade the use of their property for the use of a property at a different location. However not all timeshare properties offer this option. Even when they do they're usually fees associated with the exchange. Selling a timeshare can also be very difficult. It is not common to see timeshares selling at 40% reduction from their original price.
Recently the vacation industry has been washed over by a wave of new concepts. One of these concepts is the idea of a resort membership. With a resort membership for your one-time investment you can enjoy the benefits of the resort without having to pay taxes or maintenance fees, although there may be a yearly fee of some sort involved. Prices vary widely from several thousand to more than $100,000, but the odds are, you can find something within your budget.
You might be able to find a lifetime membership at a resort for approximately $3000. This would be a pretty good deal. They may also offer a limited five-year membership for a little bit less. This resort membership would give you access to the resort when ever you want to go and would likely allow the use of other resorts within that company's network. So, this could be an affordable vacation solution.
Condo hotels are another new concept that have been gaining popularity as of late. Currently there are few owners, but the concept is receiving high reviews and seems to work well. Essentially, you would be buying a condo in a high-class hotel and receiving all the benefits and amenities available at the hotel. If you are not using your condo you can put it up for rent and receive a percentage of the revenue that it produces. Compared to a timeshare property a condo hotel may offer you more flexibility and a wider range of amenities across a variety of locations.
These newer alternatives in addition to traditional timeshare programs have expanded the range of possibilities available to you. When considering making a long-term investment in your future vacations. It is always wise to thoroughly consider the benefits and drawbacks of each alternative program before making your purchase. Although timeshare programs continue to grow they may or may not be the best solution for you. It's up to you to decide.
If you are interested in timeshare ownership and want to discover more Timeshare Information, you should check out We Own Timeshares. Meet and connect with timeshare owners on this Timeshare Ownership social network. It is free to join and you can create your own profile in minutes. Share experiences and reviews of different timeshare properties and begin asking questions in the forum. Visit today.
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