Tag: timeshare

Real Estate, Time Shares

Should You Invest in a Vacation Home Time Share?

Even before the 70’s the concept if timeshare vacation plans have been in existence in the US. According to research, the first ever timeshare vacation was opened in the city of Kauai, Hawaii and is still in existence up till now.

The American Resort Development Association eludes that the timeshare concept is one that will continuously see growth over the years as most vacation homes involved have been seeing a continuous increase in sales over the years. Most individuals when given a choice between a timeshare and outright buying, opt for the timeshare. Statistics show that one out of 10 Americans owned at least one timeshare plan in 2016.

Timeshares: Amazing Vacations

Timeshares are a guarantee that you get vacation time owing to the fact that they come with a stipulated date of use annually. The resorts involved in timeshare often come with larger accommodations and in-house amenities that other vacation homes lack. Individuals engaged in timeshares can decide to exchange the shares at other participating resorts around the globe.

In the past, individuals connected to the image of timeshare owners were viewed as being part of the elderly (senior citizens) But that has since undergone a change. Timeshare owners are now part of the younger generation as someone of the age of 29 can be seen taken one. Also, ethnic diversity is another thing that has seen a positive growth as the majority of timeshare owners happen to be Hispanic or of African-American descent. With most of them earning annual incomes within the $100,000 bracket, three-quarters of the timeshare owners have college degrees.

Pros:

– Makes it easier to save on travel expenses as the accommodations one equipped with gadgets and amenities. Things like paying for a dryer or buying foid can be eliminated as kitchen and laundry accessories are part of the time share package. The timeshare accommodations are almost like a home away from home bringing the comforts you would only associate to a home-like furnishings.
– Timeshares can be traded in for travel across the world.
– Having a timeshare definitely means that regardless of whether you plan a vacation or not, you ate guaranteed one just by having a plan.
– Using a timeshare that operates on points ensures you have the flexibility of choice when it comes to vacation location. This is more advantageous than buying a vacation home where it becomes boring to stay in one place over time.

Cons:

– Once a timeshare has been bought, it becomes difficult if not impossible to unload. The properties tied down to the timeshares cannot be easily exchanged and even the sale of the timeshare might not rove profitable as they end up selling for less than they are worth.
– A lot of fraud has been associated with the timeshare plan especially when it comes to reselling. Even sites that enable timeshare owners to sell their property charge fees where there is no guarantee a sale will be made.
– Even if you decide to trade in your timeshare for units to travel the world, websites that encourage this charge at least $150 for their services and within $30 to $400 for any transaction. This is usually paying more than the timeshare is worth.
– This is a long term commitment as annual fees called maintenance costs are usually attached to holding on to the timeshare. This is because the timeshares often come without an expiration date and you are therefore required to pay the annual maintenance fees indefinitely.