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To Timeshare Or Not
imeshares are a large part case the location of the property
of the vacation travel is a bargaining chip, not the
industry. Travelers who actual physical property.
cannot afford to own a home Timeshares in prime locations
abroad, or who don't want the such as Hawaii are easier to
worries associated with exclusive trade than others.
ownership, often see timeshares
as an affordable alternative. Recently, big corporations such
as Disney, Hilton, Marriott and
However, unscrupulous Hyatt have entered the timeshare
salespeople, poorly maintained market, and their properties are
properties and unexpected hidden of a uniform standard around the
costs have brought a lot of bad world. First, you should know
publicity to the industry. A that if you buy a new unit
well-informed consumer can avoid directly from a timeshare
the common pitfalls. company, it may cost up to 60%
more than if you purchased from
It is always risky to buy the resale market.
property sight unseen, but many
people do this when they purchase Buying from a time-share company
timeshares. If you purchase in an is more expensive primarily
area where you wish to vacation, because of the company's
you may be unpleasantly surprised marketing costs, which include
when you arrive at your free trips, meals and vacation
destination. activities for prospective
buyers.
However, many timeshares are
purchased with the intent of Most customers of these timeshare
trading them for others in companies buy on impulse, without
different locations, and in this any intent to purchase when they
first walked into the timeshare shares are poor investments.
seminar. Hard-sell tactics and
"Buy-it-NOW-one-time-only-offers! Most real estate increases in
!!" are the rule, and to avoid value, but this is not always the
being pressured into a bad deal, case with time-shares, especially
the best tactic is to avoid these those bought directly from
sales presentations altogether. timeshare companies. If you get a
good deal on a resale timeshare
Try the resale market for better in a prime location, it may
deals. Time-share resales are increase somewhat in value. But
listed on many websites, on eBay usually time-shares are like cars
and with independent time-share -- they are commodities to be
brokers. The search term used, and are resold for less
"timeshare resale" produced than the original purchase price.
approximately 500,000 results on Don't think of timeshares as real
Google, so there are plenty of estate; you are buying a vacation
services to choose from. plan.
If you buy directly from an Also, unless you buy in a prime
individual, a resale broker or a location, swapping them may not
lawyer can handle the closing for be easy. Timeshares are
a charge of $300 to $500. frequently sold on the claim that
the buyer can trade a week in one
If you are buying a timeshare for place for a week at another
the resale value, consider location. This is only true if
regular real estate instead. the location is in demand by
Timeshares do not increase in other vacationers. Otherwise,
value in tandem with conventional expect to vacation in the
real estate. From a strictly original location each year.
financial point of view, time
To find out whether or not you Points systems can be confusing,
will be happy with a timeshare, so be sure you have a clear
it may be a good idea to rent one understanding of the services you
for your next vacation. Many are buying.
timeshare units are placed on the
rental market by owners who For instance, find out how much
couldn't get away to vacation at advance time is required to
their alloted time, and these reserve a week at the resort
units often rent at bargain during peak season, whether the
prices. Check the same websites points have an expiration date,
that offer timeshare resales for and if it is possible to transfer
available rentals. the points to other facilities in
the same resort chain. However,
There is a new "points" system when it comes to vacation
being offered by some timeshare planning, the points system
properties. Instead of getting a offers more flexibility because
week each year, buyers purchase a the buyer is not locked into the
set number of "points." These can same week every year.
be redeemed for a week's stay
during the peak season, for Most important, don't forget the
longer periods during the annual maintenance fee.
off-season, or even spread over Time-share owners are responsible
the year in two- or three- day for paying a portion of the
segments. property's upkeep. These annual
fees, including maintenance and
Some large hotel companies such real estate taxes, typically
as the Marriott also offer a range from $300 to $700 per week
points systems whereby a stay at of ownership.
their hotel earn points in the
company's time-share system. In summary, timeshares can be a
good buy if they offer some night, a timeshare purchase may
flexibility in terms of be a cheaper way to travel.
transferring to other locations However, if you are a mobile
and timing your vacation. traveller who likes to stay in a
different town every night, a
The typical timeshare is a small single person who doesn't need
condo with kitchen facilities and the extra space, or if you travel
one or two bedrooms, ideal for a at unpredicatable times, then a
family vacation, and since such time share may not be suitable.
units rent for $150-200 per
About the Author:
To Timeshare Or Not by Frank Hague Living on a Cruise ship by Frank Hague Your own Condo on a Cruise ship by Frank Hague
Source: www.isnare.com
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