For Timeshare Buyers

By: Bryant Anderson

A timeshare basically refers to a property where many people have the right to use it. The most typical of timeshare properties is the condominium unit. There are many classes of timeshares: timeshare with a deed or sale, timeshare for right to use, fixed-week ownership, floating ownership, and rotating ownership.

Timeshares have similar features as homeownership or landownership. Still, there are several kinds of timeshare. There are those that allow you to buy a property completely - a full blown purchase complete with a deed of sale. Some forms involve a lease program or points system. While there are no similarities, the basic concept is that timeshares are real estate units of a definite size that you can buy, sell, or trade.

There are instances when you can only purchase small timeshares. Small timeshares are typical of these situations: (a) should you want to own property for a definite amount of time, (b) when it is purchased as a gift, (c) internal exchange of timeshares at the same resort by a group of members, and (d) timeshare exchanges among owners of other timeshare locations.

There are some things to consider if you want to buy timeshares:

  • Buy only timeshare at locations that you're going to use in the coming years.

    Keep in mind that a timeshare is not something you buy to get financial gain (read: it's not an investment vehicle). Instead, it's something that you invest in for some intangible benefits, like an extended vacation.
  • Know yourself and your tastes before you even go through some timeshares product literature. Do you like the beach? Or do you choose a villa on some mountain resort? What is your ideal and moss treasured vacation spot? Always opt for the choices that are not so far off from your tastes.
  • If you're going on holiday, take the time to visit at least one timeshare resort. A tour guide will surely aid you with a better feel and impression of the site. Discuss with other timeshare owners and gather from them their own experiences. When you inquire, even for a little while, you will find timeshare vacation spots that give you better approach to experience and information.
  • When you have chosen a timeshare and you already have documents before you, always make sure that you've read all stipulations, and terms and conditions within the document. Understand the timeshare that you've bought and picture out what it means to you. Bear in mind, there are fixed or floating time timeshares, pay simple or right-to-use timeshare plans, and vacation club memberships.

Often do an ocular inspection at a timeshare resort. Is it properly managed and well maintained? Remember, you are buying a timeshare for the vacation experience, not for the investment opportunity.

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