Many people have one primary question when thinking about buying a timeshare. Does it make financial sense or does it make sense at all to buy a timeshare? Well the answer can be both yes or no depending on who is buying and for what purpose it is being bought. In this article we will discuss why it makes sense to buy a timeshare. One of the most traditional answers could be that you own it, whereas when you rent a hotel room or something similar you don't own it. Timeshare industry has grown by leaps and bounds since its inception in this country and many notions that people had earlier have been clarified. Timeshare sales are no longer a small business. Big hotels and resorts are into timeshare business now. It is estimated to be a Five billion dollar a year industry worldwide and approximately two million Americans have timeshares. You might be wondering what lured so many people in America alone to timeshares. Here are some reasons.
When you stay at a hotel, you're basically paying rent to the hotel for the use of a room. assuming you vacation for one week a year and that your average hotel cost is $900 for the week, if you were to do this for 30 years. The total cost for staying in a hotel will be $27,000. However, if you were to purchase a timeshare for $10,000 and pay the $450 annual maintenance fee, the total thirty-year costs for using the timeshare will be $23,500. So in reality, you are saving $3500 to stay in a property that you own, instead of paying a hotel to rent the room.
But here is the interesting fact. You still get to own your timeshare property which will earn some money if not the original price. So your actual expenditure on your vacation will be way less than renting a hotel suite. Then who can ignore the comfort of a home in a timeshare property. A typical timeshare unit has two or three bedrooms, more than one bathroom, a kitchen, a laundry room and a pool plus not to forget all the resort facilities.
Do you see the advantage in that? Another advantage could be the ease of planning your annual vacation. With a timeshare, you generally know exactly when and where you are going to go each year.
How many hotel rooms can accommodate large families and friends? With a timeshare vacation you can invite who ever you want and can host reasonable size gatherings.
A timeshare is like money lying safely in your bank. You can sell it whenever you want. Not only that if you buy a deeded plan, the timeshare gets inherited to your heirs also.
Compare the timeshare with buying a vacation home. You don't have to worry about upkeep and maintenance also. The management company will take care of everything. You just have to pay the maintenance fee for that. But what a pleasure you can live like you are living in a hotel and still get a feel of your home and have to do nothing.
Apart from these benefits, timeshare companies offer you so many discounts like bonus weeks, discounts on airfare, car rentals, attraction tickets, restaurants and much more. there are many reasons owning a timeshare does make sense, it all depends on your vacation needs, but the benefits of ownership can be great and can save you a lot of money in the future.
If you are thinking about timeshare ownership and want to learn 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 information and reviews of different timeshare locations and begin asking questions in the forum. Visit today.
Wednesday, October 6, 2010
Friday, July 9, 2010
Timeshare Ownership: The Pros and Cons of Timeshares
The pros and cons of purchasing a timeshare should always be considered in a rational way before making a decision. It is important to consider your choice of lifestyle, as well as your financial condition and giving weight to the advantages and disadvantages. For instance, if you are quite wealthy. The purchase price will be easier to pay that if it represents a substantial amount of your savings. The cost will also affect how you evaluate the pros and cons of other aspects of the investment. In either case, it is always wise to thoroughly research your decision.
First, we'll look at some of the advantages to timeshare ownership. To start with, timeshare properties can be quite economical when contrasted with buying standard real estate that you would only occasionally use. For instance, you could buy a piece of real estate for $200,000, or you could purchase a timeshare property were only $10,000 and pay an annual maintenance fee of $500 per year. Assuming you own a the timeshare for a period of 30 years, the total cost will be as follows:
(30years x $500)+$10,000 = $25,000 total.
Compare it with buying the real estate property; you will save $175,000. Isn't that a lot of money? Is it wise to invest that much extra money for once a year use?
Consider instead, that you spend $1200 a year to stay in a hotel during your vacation. To be fair, we need to consider that cost for the same 30 year period.
30 years times $1200 equals $36,000. This is still $12,000 more than the $25,000 you would pay to own the timeshare property for your lifetime.
Apart from saving money you get the comfort of your home. In a hotel you might get only a suite. But a typical timeshare condo has two or three bedrooms, one or two bathrooms, a kitchen, a dining room and even a laundry room. Also timeshare units are usually fully furnished. Most of the timeshare properties have an indoor or outdoor pool also these days. In addition to that you also get resort facilities. What more somebody might want when they get all these facilities and comfort of home?
If you have a timeshare you don't have to worry about the upkeep and maintenance of the condo. It is taken care of by the developer. Now compare this with buying a real estate property for the life, you have to do all the maintenance.
A somewhat overlooked advantage of owning a timeshare is that it almost forces you to take a vacation each year. If you have a timeshare, you definitely make it a point to go for a vacation at least once a year so that you can take full advantage of the property. Also, you are also saved from the hassles of planning a vacation every year since you know where you're going and when well in advance.
Most of the timeshare companies are associated with other timeshare companies. This allows the exchange of timeshare. This is one of the many reasons why people prefer timeshare.
Let's quickly examine some of the cons of timeshare ownership. One of the common complaints people have with timeshares is the use of high-pressure sales techniques during a sales presentation that an unknowing customer is lured into after receiving a free gift from the timeshare company. It is wise to thoroughly research the company before going into the presentation and ensure that they have a good reputation for being honest and easy to deal with.
You'll lose some of your free capital when you have to pay a large fee upfront. Also, when you finance the cost through a loan you will be paying extra money in interest costs. Lastly, don't forget about the annual maintenance fees and any association fees.
Timeshares are one of the most difficult types of real estate to resell. Furthermore, they typically depreciate on the resale market vice appreciate. These facts are cons to timeshare ownership.
A final consideration is the flexibility of your timeshare property. You might have a floating week and an exchange program to take advantage of, but you'll have to plan your timeshare vacation months in advance. Remember that you are on a first come, first served basis with the other timeshare owners. If you have a fixed week, the lack of flexibility is an even greater con.
If you are interested in timeshares a good place to learn more is in aTimeshare Forum. We Own Timeshares.com is a new social network full of Timeshare Information and it has a great forum too. It is free and easy to join this timeshare social network. Create your own profile in minutes, share experiences and reviews of different timeshare locations and start asking questions in the forum today.
First, we'll look at some of the advantages to timeshare ownership. To start with, timeshare properties can be quite economical when contrasted with buying standard real estate that you would only occasionally use. For instance, you could buy a piece of real estate for $200,000, or you could purchase a timeshare property were only $10,000 and pay an annual maintenance fee of $500 per year. Assuming you own a the timeshare for a period of 30 years, the total cost will be as follows:
(30years x $500)+$10,000 = $25,000 total.
Compare it with buying the real estate property; you will save $175,000. Isn't that a lot of money? Is it wise to invest that much extra money for once a year use?
Consider instead, that you spend $1200 a year to stay in a hotel during your vacation. To be fair, we need to consider that cost for the same 30 year period.
30 years times $1200 equals $36,000. This is still $12,000 more than the $25,000 you would pay to own the timeshare property for your lifetime.
Apart from saving money you get the comfort of your home. In a hotel you might get only a suite. But a typical timeshare condo has two or three bedrooms, one or two bathrooms, a kitchen, a dining room and even a laundry room. Also timeshare units are usually fully furnished. Most of the timeshare properties have an indoor or outdoor pool also these days. In addition to that you also get resort facilities. What more somebody might want when they get all these facilities and comfort of home?
If you have a timeshare you don't have to worry about the upkeep and maintenance of the condo. It is taken care of by the developer. Now compare this with buying a real estate property for the life, you have to do all the maintenance.
A somewhat overlooked advantage of owning a timeshare is that it almost forces you to take a vacation each year. If you have a timeshare, you definitely make it a point to go for a vacation at least once a year so that you can take full advantage of the property. Also, you are also saved from the hassles of planning a vacation every year since you know where you're going and when well in advance.
Most of the timeshare companies are associated with other timeshare companies. This allows the exchange of timeshare. This is one of the many reasons why people prefer timeshare.
Let's quickly examine some of the cons of timeshare ownership. One of the common complaints people have with timeshares is the use of high-pressure sales techniques during a sales presentation that an unknowing customer is lured into after receiving a free gift from the timeshare company. It is wise to thoroughly research the company before going into the presentation and ensure that they have a good reputation for being honest and easy to deal with.
You'll lose some of your free capital when you have to pay a large fee upfront. Also, when you finance the cost through a loan you will be paying extra money in interest costs. Lastly, don't forget about the annual maintenance fees and any association fees.
Timeshares are one of the most difficult types of real estate to resell. Furthermore, they typically depreciate on the resale market vice appreciate. These facts are cons to timeshare ownership.
A final consideration is the flexibility of your timeshare property. You might have a floating week and an exchange program to take advantage of, but you'll have to plan your timeshare vacation months in advance. Remember that you are on a first come, first served basis with the other timeshare owners. If you have a fixed week, the lack of flexibility is an even greater con.
If you are interested in timeshares a good place to learn more is in aTimeshare Forum. We Own Timeshares.com is a new social network full of Timeshare Information and it has a great forum too. It is free and easy to join this timeshare social network. Create your own profile in minutes, share experiences and reviews of different timeshare locations and start asking questions in the forum today.
Timeshares – The Best Way To Have Your Own Vacation Place For A Small Price
Timeshares allow vacationers to become part-owners of their favorite vacation resort. The individuals sharing a specific vacation accommodation may use that place at specified times during the year. The fees that have to be paid are not so much more expensive than renting the place while at the same time offering the “timesharer” more control. They may be re-sold or rented out to other people or exchanged for other shares in the same or other localities.
Someone who exclusively owns accommodation shoulders the total cost of the unit as well as all the responsibilities of maintaining it. If the owner resides in the place for most of the year, the cost of owning and maintaining it will be worth his while. On the opposite end, considering that he will only be staying in for a few weeks or months in a year, paying for full ownership of a seasonal accommodation and shouldering the regular costs of maintenance as well as the annual taxes for the place is not a wise financial move for the average individual. Full ownership of seasonal accommodations is only resorted to by people in real estate who purchase housing for the purpose of renting or re-selling them.
That accounts for the fact that timeshares have become very popular for regular vacationers who find it quite reasonable to pay a small maintenance fee as well as his pro-rated share in the taxes for the place, and always have the accommodation ready for him when he needs it. Although similar to renting, this is actually an investment of sorts that can be regained with the proper technique.
While there are many different kinds of timeshares, we are considering here deeded timeshares which offer the people the convenient middle option where they have deeds of periodical ownership for leisure accommodations and pay only for that period for which they will be owning it in a year. Just as the ownership of the accommodations is shared, so are the annual taxes paid on a proportional basis.
As the owner of a deeded timeshare in a resort accommodation, a person may lease the place to a third party and even re-sell his ownership. Of the two, leasing will be a better way to recover expenses and make profits since the owner will be receiving payment for as long as the accommodations are occupied by others. Re-selling timeshares are not usually lucrative business moves because a great part of the original expenses incurred in the initial purchase have to do with expenses not related to the value of the property. Consequently, if the timeshare is re-sold on the basis of the property’s value, the re-seller will be lucky to sell at a break-even price.
One of the most attractive features of timeshares for vacationers is the fact that they can be exchanged for other timeshares in other locations. This is especially useful for people who want to go to a different vacation spot ever so often. All they need to is to publicize their timeshares as being open for exchange and wait for the appropriate party to transact with. Exchanges may be conducted between leased or deeded ownership. For the purpose of facilitating exchanges for vacationers, the companies which sell or lease these units will usually have website where such exchanges may be advertised. This is one very good way for them to promote their units to the public.
There are many reasons to use timeshares, from a short getaway to a long retreat, knowing that there are timeshares almost everywhere now: http://www.timeshares4you.info
Someone who exclusively owns accommodation shoulders the total cost of the unit as well as all the responsibilities of maintaining it. If the owner resides in the place for most of the year, the cost of owning and maintaining it will be worth his while. On the opposite end, considering that he will only be staying in for a few weeks or months in a year, paying for full ownership of a seasonal accommodation and shouldering the regular costs of maintenance as well as the annual taxes for the place is not a wise financial move for the average individual. Full ownership of seasonal accommodations is only resorted to by people in real estate who purchase housing for the purpose of renting or re-selling them.
That accounts for the fact that timeshares have become very popular for regular vacationers who find it quite reasonable to pay a small maintenance fee as well as his pro-rated share in the taxes for the place, and always have the accommodation ready for him when he needs it. Although similar to renting, this is actually an investment of sorts that can be regained with the proper technique.
While there are many different kinds of timeshares, we are considering here deeded timeshares which offer the people the convenient middle option where they have deeds of periodical ownership for leisure accommodations and pay only for that period for which they will be owning it in a year. Just as the ownership of the accommodations is shared, so are the annual taxes paid on a proportional basis.
As the owner of a deeded timeshare in a resort accommodation, a person may lease the place to a third party and even re-sell his ownership. Of the two, leasing will be a better way to recover expenses and make profits since the owner will be receiving payment for as long as the accommodations are occupied by others. Re-selling timeshares are not usually lucrative business moves because a great part of the original expenses incurred in the initial purchase have to do with expenses not related to the value of the property. Consequently, if the timeshare is re-sold on the basis of the property’s value, the re-seller will be lucky to sell at a break-even price.
One of the most attractive features of timeshares for vacationers is the fact that they can be exchanged for other timeshares in other locations. This is especially useful for people who want to go to a different vacation spot ever so often. All they need to is to publicize their timeshares as being open for exchange and wait for the appropriate party to transact with. Exchanges may be conducted between leased or deeded ownership. For the purpose of facilitating exchanges for vacationers, the companies which sell or lease these units will usually have website where such exchanges may be advertised. This is one very good way for them to promote their units to the public.
There are many reasons to use timeshares, from a short getaway to a long retreat, knowing that there are timeshares almost everywhere now: http://www.timeshares4you.info
Sunday, May 30, 2010
What are the Alternatives to Timeshares?
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.
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.
Tips For Buying Timeshares & Renting Timeshares
Timeshare: Making the Decision to Buy
A vacation home without the long-distance hassle: a timeshare might be the perfect solution.
You’ve found it: the place you’d like to return to again and again for your vacation. Having a home base rather than trying to find hotel accommodations makes sense to you, but the thought of buying a house and trying to maintain from a distance while only using it a few weeks each year seems daunting and expensive. Looking at timeshares for sale may be your best solution. You have the option of buying new, or the option of buying timeshares for sale by owner.
When you buy a unit, usually a condo, you agree to share it with others but have the option of using it for your own vacations. Often a maintenance or management company will assess an annual fee, and in return they’ll make sure the building is maintained and protected.
How the timeshare arrangement is set up varies by timeshare company. It’s a good idea to look at both new properties and timeshares for sale by owner. But some key factors to consider include:
Decide if the area you’ve picked is one you’ll be happy to vacation at for years to come.
Inspect the timeshare for sale. If possible, have a professional home inspector take a look as well.
Check the timeshare company’s record with the state’s Better Business Bureau or State Attorney General’s Office to see if there are outstanding complaints regarding maintenance and association agreements.
When possible, talk to other timeshare owners in the complex. Find out what they think of the area and the timeshare.
Don’t let someone pressure you to make a decision on the spot. Always take time to think it over.
Consider what’s more important—having a brand-new unit that will cost anywhere from 30-60% more, or being able to buy a previously-owned timeshare that will be less expensive.
Timeshares for Sale: Where do I Find Them?
You’ve decided to buy—now how do you find just the right one?
The world of timeshares for sale can be confusing. And unfortunately, scams do happen in this market, so it’s worth your while to take your time and be sure of your choice.
In terms of price, timeshares for sale by owner will save you money. Buying direct reduces the costs associated with middlemen, saving you money and costing the seller less, so both sides win.
First, of course, you need to know where you want to be. Beaches? Lakes? Mountains? Private getaways? Once you have zeroed in on the place that sounds like heaven for upcoming vacations, figure out what you need. Nonsmoking? Number of bedrooms? Now it’s time to look at the time shares for sale available.
Now you’re ready to get more specific. VacationPropertyDirect.com lists time shares for sale by owner, sorted by state. Whether on a gentle mountainside in Vermont, on the shores of one of Minnesota’s 10,000 lakes, or relaxing in Scottsdale’s lovely desert environment, the choices are extensive.
Once you’ve found something that sounds like it fits your needs, you can contact the owner directly. Make arrangements to visit the timeshare and the neighborhood, so you can see firsthand if it’s what you want. Consider the availability of things like grocery stores and doctors, if you are planning to use the timeshare a few times a year. Find out about the year-round climate, if you’d like to use it for more than one season.
If the time share meets your checklist, you’re on the road to peaceful, worry-free vacations for years to come!
Timeshare Resales: Know Your Market
Interested in selling a timeshare? Understanding the market is key.
You’ve got a timeshare, and now you’d like to sell it. How do you go about selling timeshares?
While we’ve been trained to think of buildings and condos as real estate, what you’re really selling is a vacation. Play up the aspects of your location: beach, mountains, skiing, solitude, family-friendly—that’s what gets people’s attention.
Price is key. Do your homework—check with the building management company or local tax offices to find out what kind of prices timeshares have sold for recently.
When checking resale, make sure you look for comparable prices—look for units similar in size, location, and age as the one you want to sell.
If available, consider hiring a timeshare appraiser. Find one that’s licensed in the same state as the timeshare is located. They may have access to recent sales information that you can’t easily get.
Check with the timeshare management company to learn what regulations they may have regarding resale.
You can advertise locally through newspapers, or you can use the power of the World Wide Web—VacationPropertyDirect.com is an excellent and cost-effective way to reach a huge potential pool of buyers.
Be careful if approached by a timeshare broker—some are legitimate, some are not. Some may offer services that are identical to what you can do yourself via the internet.
Above all, make sure your timeshare is in top condition, clean and repair-free.
Timeshare Rentals – The How To’s
Have a timeshare available, or want to borrow one for a bit? Here’s what to know.
There’s a misconception that says timeshares are strictly for-sale properties. That’s not the case. Potential timeshare buyers have the option of renting a timeshare from an owner who isn’t using the timeshare, but doesn’t want to sell it. Or someone thinks they may eventually be interested in timeshare sales, but they’re not ready for the full commitment just yet. Timeshare rentals by owner allow both owners and renters to have flexibility. It’s a win-win for both sides.
A few things to keep in mind when renting a timeshare, whether you’re the landlord or the renter:
Even though the timeshare is not changing ownership, the rental should be done in writing with specifics about what is expected for both sides. Payment, damage deposits, check-in and check-out times, rules regarding pets, smoking, or children, should be spelled out and signed by both parties.
Timeshare owners should consult the property managers of the timeshare to see what the rules regarding rental are, and share those regulations with the renter.
Timeshare renters should treat the timeshare as what it is: property that belongs to someone else. Follow the rules, keep everything clean, and notify the owner if you notice anything amiss (plumbing problems, appliances not working properly, etc.).
Renters should make their payments on time, and timeshare owners should refund damage deposits promptly.
For both sides, be respectful of neighboring timeshares. If you know the timeshare owner next door is sensitive to loud noise, consider putting a “quiet time” clause in the rental contract—and if you’re the renter, comply with those clauses.
If the rental goes well, the renter should provide a reference for the owner, if the owner plans to rent the property again.
It’s all about respect—and a fun use for a vacation rental!
www.vacationpropertydirect.com is a vacation property and timeshare listing service that allows buyers, renters, and owners to connect directly and save middle man costs.
A vacation home without the long-distance hassle: a timeshare might be the perfect solution.
You’ve found it: the place you’d like to return to again and again for your vacation. Having a home base rather than trying to find hotel accommodations makes sense to you, but the thought of buying a house and trying to maintain from a distance while only using it a few weeks each year seems daunting and expensive. Looking at timeshares for sale may be your best solution. You have the option of buying new, or the option of buying timeshares for sale by owner.
When you buy a unit, usually a condo, you agree to share it with others but have the option of using it for your own vacations. Often a maintenance or management company will assess an annual fee, and in return they’ll make sure the building is maintained and protected.
How the timeshare arrangement is set up varies by timeshare company. It’s a good idea to look at both new properties and timeshares for sale by owner. But some key factors to consider include:
Decide if the area you’ve picked is one you’ll be happy to vacation at for years to come.
Inspect the timeshare for sale. If possible, have a professional home inspector take a look as well.
Check the timeshare company’s record with the state’s Better Business Bureau or State Attorney General’s Office to see if there are outstanding complaints regarding maintenance and association agreements.
When possible, talk to other timeshare owners in the complex. Find out what they think of the area and the timeshare.
Don’t let someone pressure you to make a decision on the spot. Always take time to think it over.
Consider what’s more important—having a brand-new unit that will cost anywhere from 30-60% more, or being able to buy a previously-owned timeshare that will be less expensive.
Timeshares for Sale: Where do I Find Them?
You’ve decided to buy—now how do you find just the right one?
The world of timeshares for sale can be confusing. And unfortunately, scams do happen in this market, so it’s worth your while to take your time and be sure of your choice.
In terms of price, timeshares for sale by owner will save you money. Buying direct reduces the costs associated with middlemen, saving you money and costing the seller less, so both sides win.
First, of course, you need to know where you want to be. Beaches? Lakes? Mountains? Private getaways? Once you have zeroed in on the place that sounds like heaven for upcoming vacations, figure out what you need. Nonsmoking? Number of bedrooms? Now it’s time to look at the time shares for sale available.
Now you’re ready to get more specific. VacationPropertyDirect.com lists time shares for sale by owner, sorted by state. Whether on a gentle mountainside in Vermont, on the shores of one of Minnesota’s 10,000 lakes, or relaxing in Scottsdale’s lovely desert environment, the choices are extensive.
Once you’ve found something that sounds like it fits your needs, you can contact the owner directly. Make arrangements to visit the timeshare and the neighborhood, so you can see firsthand if it’s what you want. Consider the availability of things like grocery stores and doctors, if you are planning to use the timeshare a few times a year. Find out about the year-round climate, if you’d like to use it for more than one season.
If the time share meets your checklist, you’re on the road to peaceful, worry-free vacations for years to come!
Timeshare Resales: Know Your Market
Interested in selling a timeshare? Understanding the market is key.
You’ve got a timeshare, and now you’d like to sell it. How do you go about selling timeshares?
While we’ve been trained to think of buildings and condos as real estate, what you’re really selling is a vacation. Play up the aspects of your location: beach, mountains, skiing, solitude, family-friendly—that’s what gets people’s attention.
Price is key. Do your homework—check with the building management company or local tax offices to find out what kind of prices timeshares have sold for recently.
When checking resale, make sure you look for comparable prices—look for units similar in size, location, and age as the one you want to sell.
If available, consider hiring a timeshare appraiser. Find one that’s licensed in the same state as the timeshare is located. They may have access to recent sales information that you can’t easily get.
Check with the timeshare management company to learn what regulations they may have regarding resale.
You can advertise locally through newspapers, or you can use the power of the World Wide Web—VacationPropertyDirect.com is an excellent and cost-effective way to reach a huge potential pool of buyers.
Be careful if approached by a timeshare broker—some are legitimate, some are not. Some may offer services that are identical to what you can do yourself via the internet.
Above all, make sure your timeshare is in top condition, clean and repair-free.
Timeshare Rentals – The How To’s
Have a timeshare available, or want to borrow one for a bit? Here’s what to know.
There’s a misconception that says timeshares are strictly for-sale properties. That’s not the case. Potential timeshare buyers have the option of renting a timeshare from an owner who isn’t using the timeshare, but doesn’t want to sell it. Or someone thinks they may eventually be interested in timeshare sales, but they’re not ready for the full commitment just yet. Timeshare rentals by owner allow both owners and renters to have flexibility. It’s a win-win for both sides.
A few things to keep in mind when renting a timeshare, whether you’re the landlord or the renter:
Even though the timeshare is not changing ownership, the rental should be done in writing with specifics about what is expected for both sides. Payment, damage deposits, check-in and check-out times, rules regarding pets, smoking, or children, should be spelled out and signed by both parties.
Timeshare owners should consult the property managers of the timeshare to see what the rules regarding rental are, and share those regulations with the renter.
Timeshare renters should treat the timeshare as what it is: property that belongs to someone else. Follow the rules, keep everything clean, and notify the owner if you notice anything amiss (plumbing problems, appliances not working properly, etc.).
Renters should make their payments on time, and timeshare owners should refund damage deposits promptly.
For both sides, be respectful of neighboring timeshares. If you know the timeshare owner next door is sensitive to loud noise, consider putting a “quiet time” clause in the rental contract—and if you’re the renter, comply with those clauses.
If the rental goes well, the renter should provide a reference for the owner, if the owner plans to rent the property again.
It’s all about respect—and a fun use for a vacation rental!
www.vacationpropertydirect.com is a vacation property and timeshare listing service that allows buyers, renters, and owners to connect directly and save middle man costs.
Wednesday, March 3, 2010
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.
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.
Timeshare Buying Tips
Timeshares are a large part of the vacation travel industry. Travellers who cannot afford to own a home abroad, or who don't want the worries associated with exclusive ownership, often see timeshare as an affordable alternative.
However, unscrupulous salespeople, poorly maintained properties and unexpected hidden costs have brought a lot of bad publicity to the industry. A well-informed consumer can avoid the common pitfalls.
It is always risky to buy property sight unseen, but many people do this when they purchase timeshares. If you purchase in an area where you wish to vacation, you may be unpleasantly surprised when you arrive at your destination.
However, many timeshares are purchased with the intent of trading them for others in different locations, and in this case the location of the property is a bargaining chip, not the actual physical property. Timeshares in prime locations such as Hawaii are easier to trade than others.
Recently, big corporations such as Disney, Hilton, Marriott and Hyatt have entered the timeshare market, and their properties are of a uniform standard around the world. First, you should know that if you buy a new unit directly from a timeshare company, it may cost up to 60% more than if you purchased from the resale market.
Buying from a time-share company is more expensive primarily because of the company's marketing costs, which include free trips, meals and vacation activities for prospective buyers. Most customers of these timeshare companies buy on impulse, without any intent to purchase when they first walked into the timeshare seminar. Hard-sell tactics and "Buy-it-NOW-one-time-only-offers!!!" are the rule, and to avoid being pressured into a bad deal, the best tactic is to avoid these sales presentations altogether.
Try the resale market for better deals. Time-share resales are listed on many websites, on eBay and with independent time-share brokers. The search term "timeshare resale" produced approximately 500,000 results on Google, so there are plenty of services to choose from.
If you buy directly from an individual, a resale broker or a lawyer can handle the closing for a charge of $300 to $500.
If you are buying a timeshare for the resale value, consider regular real estate instead. Timeshares do not increase in value in tandem with conventional real estate. From a strictly financial point of view, time shares are poor investments.
Most real estate increases in value, but this is not always the case with time-shares, especially those bought directly from timeshare companies. If you get a good deal on a resale timeshare in a prime location, it may increase somewhat in value. But usually time-shares are like cars -- they are commodities to be used, and are resold for less than the original purchase price. Don't think of timeshares as real estate; you are buying a vacation plan.
Also, unless you buy in a prime location, swapping them may not be easy. Timeshares are frequently sold on the claim that the buyer can trade a week in one place for a week at another location. This is only true if the location is in demand by other vacationers. Otherwise, expect to vacation in the original location each year.
To find out whether or not you will be happy with a timeshare, it may be a good idea to rent one for your next vacation. Many timeshare units are placed on the rental market by owners who couldn't get away to vacation at their alloted time, and these units often rent at bargain prices. Check the same websites that offer timeshare resales for available rentals.
There is a new "points" system being offered by some timeshare properties. Instead of getting a week each year, buyers purchase a set number of "points." These can be redeemed for a week's stay during the peak season, for longer periods during the off-season, or even spread over the year in two- or three- day segments.
Some large hotel companies such as the Marriott also offer a points systems whereby a stay at their hotel earn points in the company's time-share system. Points systems can be confusing, so be sure you have a clear understanding of the services you are buying. For instance, find out how much advance time is required to reserve a week at the resort during peak season, whether the points have an expiration date, and if it is possible to transfer the points to other facilities in the same resort chain. However, when it comes to vacation planning, the points system offers more flexibility because the buyer is not locked into the same week every year.
Most important, don't forget the annual maintance fee. Time-share owners are responsible for paying a portion of the property's upkeep. These annual fees, including maintenance and real estate taxes, typically range from $300 to $700 per week of ownership.
In summary, timeshares can be a good buy if they offer some flexibility in terms of transferring to other locations and timing your vacation. The typical timeshare is a small condo with kitchen facilities and one or two bedrooms, ideal for a family vacation, and since such units rent for $150-200 per night, a timeshare purchase may be a cheaper way to travel. However, if you are a mobile traveller who likes to stay in a different town every night, a single person who doesn't need the extra space, or if you travel at unpredicatable times, then a time share may not be suitable.
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However, unscrupulous salespeople, poorly maintained properties and unexpected hidden costs have brought a lot of bad publicity to the industry. A well-informed consumer can avoid the common pitfalls.
It is always risky to buy property sight unseen, but many people do this when they purchase timeshares. If you purchase in an area where you wish to vacation, you may be unpleasantly surprised when you arrive at your destination.
However, many timeshares are purchased with the intent of trading them for others in different locations, and in this case the location of the property is a bargaining chip, not the actual physical property. Timeshares in prime locations such as Hawaii are easier to trade than others.
Recently, big corporations such as Disney, Hilton, Marriott and Hyatt have entered the timeshare market, and their properties are of a uniform standard around the world. First, you should know that if you buy a new unit directly from a timeshare company, it may cost up to 60% more than if you purchased from the resale market.
Buying from a time-share company is more expensive primarily because of the company's marketing costs, which include free trips, meals and vacation activities for prospective buyers. Most customers of these timeshare companies buy on impulse, without any intent to purchase when they first walked into the timeshare seminar. Hard-sell tactics and "Buy-it-NOW-one-time-only-offers!!!" are the rule, and to avoid being pressured into a bad deal, the best tactic is to avoid these sales presentations altogether.
Try the resale market for better deals. Time-share resales are listed on many websites, on eBay and with independent time-share brokers. The search term "timeshare resale" produced approximately 500,000 results on Google, so there are plenty of services to choose from.
If you buy directly from an individual, a resale broker or a lawyer can handle the closing for a charge of $300 to $500.
If you are buying a timeshare for the resale value, consider regular real estate instead. Timeshares do not increase in value in tandem with conventional real estate. From a strictly financial point of view, time shares are poor investments.
Most real estate increases in value, but this is not always the case with time-shares, especially those bought directly from timeshare companies. If you get a good deal on a resale timeshare in a prime location, it may increase somewhat in value. But usually time-shares are like cars -- they are commodities to be used, and are resold for less than the original purchase price. Don't think of timeshares as real estate; you are buying a vacation plan.
Also, unless you buy in a prime location, swapping them may not be easy. Timeshares are frequently sold on the claim that the buyer can trade a week in one place for a week at another location. This is only true if the location is in demand by other vacationers. Otherwise, expect to vacation in the original location each year.
To find out whether or not you will be happy with a timeshare, it may be a good idea to rent one for your next vacation. Many timeshare units are placed on the rental market by owners who couldn't get away to vacation at their alloted time, and these units often rent at bargain prices. Check the same websites that offer timeshare resales for available rentals.
There is a new "points" system being offered by some timeshare properties. Instead of getting a week each year, buyers purchase a set number of "points." These can be redeemed for a week's stay during the peak season, for longer periods during the off-season, or even spread over the year in two- or three- day segments.
Some large hotel companies such as the Marriott also offer a points systems whereby a stay at their hotel earn points in the company's time-share system. Points systems can be confusing, so be sure you have a clear understanding of the services you are buying. For instance, find out how much advance time is required to reserve a week at the resort during peak season, whether the points have an expiration date, and if it is possible to transfer the points to other facilities in the same resort chain. However, when it comes to vacation planning, the points system offers more flexibility because the buyer is not locked into the same week every year.
Most important, don't forget the annual maintance fee. Time-share owners are responsible for paying a portion of the property's upkeep. These annual fees, including maintenance and real estate taxes, typically range from $300 to $700 per week of ownership.
In summary, timeshares can be a good buy if they offer some flexibility in terms of transferring to other locations and timing your vacation. The typical timeshare is a small condo with kitchen facilities and one or two bedrooms, ideal for a family vacation, and since such units rent for $150-200 per night, a timeshare purchase may be a cheaper way to travel. However, if you are a mobile traveller who likes to stay in a different town every night, a single person who doesn't need the extra space, or if you travel at unpredicatable times, then a time share may not be suitable.
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