The Long And Short Of A Timeshare

Timeshare are fractional ownership of a specific resort property. A timeshare allows you to purchase the right to use a given property a certain number of days per year. There is a lot of misunderstanding about timeshares and what it does and does not offer. Here, we will discuss the advantage and disadvantage of timeshares.

There is a lot to like about timeshares, the primary of which is you can get to go on a vacation in a property without having to get a hotel or deal with all the amenities that you cannot get with a hotel like a kitchen, separate bedrooms.

However, there are also disadvantages in the timeshare model. One weakness is that although you only have use of the property a certain number of days per year, the maintenance costs continue forever regardless if you have completely paid for the timeshare interest or not. As a result, you will end up with a timeshare payment and a property maintenance fee. This maintenance fee does not seem unreasonable given that the property needs to be maintained throughout the year and not just when you are using the residence.



There is something absurd about paying sometimes hundreds of dollars a year in maintenance costs plus the initial thousands to buy the timeshare, for the privilege of using the property one or two weeks a year. Before you buy a timeshare property, it is imperative to check the ongoing maintenance costs before signing up.

In buying a timeshare, you also have to commit to the vacation property. Your vacation plans are pretty much set year after year if you buy a timeshare in, say, Florida. However, there will come a time when you will want to try the Caribbean or Mexico. You will need to decide what to do with the timeshare in Florida on top of planning and organizing your vacation at a different spot. It seems absurd not to use the timeshare as you are paying for the maintenance costs of the property. If the property is popular, the management of the property could sell your space for this year. This alternative will work only as long as the property is in demand and your space can actually be sold during that time period.

An alternative to letting your timeshare spot lapse is trading the timeshare. There are many companies today that specialize in trading timeshare time. This will allow you the benefit of using another timeshare investors timeshare in Mexico while another family uses your place in Florida. This alternative will work only if your property is in high demand and comes at perfect time to vacation

If you are considering buying a timeshare, there are several important factors to consider on top of the purchase price. You should make sure that the ongoing maintenance fees are reasonable and not a burden on your budget. In addition, you should only select a timeshare property in a popular area and at a popular time. Although they may cost more, a popular resort is much easier to trade allowing you maximum flexibility with future vacation plans.