There are many ways to travel and to explore the globe, and purchasing timeshares is one option. But what are timeshares, and how do we buy them? Are these good investments? Find out in this beginner’s introduction to timeshares.
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Timeshares: No More Post Vacation Blues
Everybody has a dream vacation tucked inside their planners, diaries, and bucket lists. But what if you can own that very spot in the planet you so desire to be in whether you just wanted to chill, party like it’s Spring Break forever, or start a thoughtful journey of finding yourself, even just for a time being each year? Enter timeshare. A timeshare is a property where multiple people have the rights to use said property for an allowable period of time, depending on the type of timeshare you have purchased.
The concept of buying vacation spot timeshares has been around since post-World War II. Then called as vacation home sharing or holiday home sharing, European families would jointly buy a vacation cottage which they would have exclusive rights to use alternately for a season. Today, the average timeshare is a 1/52 share or one week per year. In recent years, timeshares have become so much of a trend that timeshare sales for the first quarter of 2013 have significantly increased to 8.3% during the first quarter of 2014, in spite of the terrible reputation of timeshares as an investment. Because the value of timeshares depreciate and that there are many scammers out there who take advantage of the clueless timeshare buyer, timeshares have been negatively criticized. That did not stop the growth of timeshares being bought and sold each year, because its cons can be avoided if you know how to manage your timeshare. First, find reliable sellers such as timeshare owners (instead of developers) and timeshare resale sites such as Online Timeshare Portal (oTimeshare). You have the choice to either purchase and own part of the resort or rent a portion of it. Once you have decided what timeshare type you want to purchase, understand and be prepared for the additional costs such as maintenance fees. Lastly, buy because you plan to keep using the property in a long-term perspective; not because you are planning to sell. However, should the need to sell arise, do sell to fellow timeshare owners, always be alert for scammers, and sell your timeshares where you also bought them.
Travel is good for the soul. Buy a timeshare that you can both afford and enjoy for as long as you can, because cheap as they are when bought, the final rewards for being in a place where you want to be are immaterial.