I see Timeshares Only everywhere – TV, radio, billboards! What are timeshares anyway?
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Timeshare is basically a group of people sharing the cost of a vacation home. It is also commonly referred to as Vacation Ownership or Interval Ownership.
The main benefit of timeshare ownership is that it makes it economical for you to afford a vacation home. While you may not be financially able to purchase a second home in Key West or Breckenridge, you can afford to purchase a timeshare interval in a luxury resort villa!
In simple terms, it’s the pre-purchase of future vacation accommodations. But, this is not just prepaying for hotel rooms! Resort villas are traditionally larger and more deluxe than simple hotel rooms. Condominium-style timeshare units usually feature fully furnished kitchens, generous living areas, and ample amenities for family or friends. Accommodations range from studio villas to four bedroom homes. The resort lifestyle is vastly different from that short one or two night stay at the local motel.
Ownership of a timeshare is very similar to ownership of a condominium except that your rights are limited to a certain period or interval of time. The ownership can be conveyed to you by a deed or by a leasehold interest, commonly called right-to-use ownership.
Purchasing resale is also very important. Resale weeks are sold for thousands less than developer prices! Using the services of a licensed brokerage can be vital in ensuring you are fully aware of any restrictions and limitations of the ownership you purchase. A resale specialist can provide you with helpful information about the different types of vacation ownership available, and assist you in making a good decision on which property will best meet your needs and lifestyle!
Finally, it’s important to remember that timeshare should never be purchased on impulse or as a financial investment! Like most luxury items such as a boat or car, a timeshare does not increase in value over time. The true value of vacation ownership is in the usage itself, and in the ability for owners to enjoy more consistent, and more luxurious vacations!
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