Articles for Interval Ownership Timeshare Issue

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Are timeshares a good value?

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What is timeshare?

Timeshare is the generic name for purchases of shared property ownership or the right to use a week or more at at property location. Also known as interval ownership and vacation ownership, the purchase allows you to use purchased property at during a specified week or time frame. If desired, you can exchange your time. For a nominal fee, their are reputable businesses dedicated to helping exchange with other owners allow people wanting to travel to "space bank" their time. Owners can then travel to another location and stay in a resort of similar quality to their own. Exchanges are possible throughout the world. Trading is done through your home resort's affiliation with an exchange company. Limited trading may also be done internally if your home resort is affiliated with other "sister" resorts.

Does it work?

Timeshare ownership works very well for its intended purposes. If you want to stay at the location you bought, you obtain all the benefits of accorded ownership during your week. You buy the kind of place you want to stay in. This works great for exchanges too. When you travel, you are assured that the location you exchange into is comparable to your tastes. You can exchange for less comparable if you find other benefits to be present. Resorts are usually set up like an apartment, condominium, or house. They are as complete as you would prefer (kitchens, multiple bathrooms, fireplaces, etc.). Yet the cost per day for you vacation stay is usually less than a hotel or other accommodations.

Is it worth it?

Owning a timeshare means you save money on comfortable and attractive vacation accommodations. Most timeshares are often located at the more high demand, exclusive, or luxury resorts. With ownership of a timesharing your ensure that you have exclusive use of accommodations that meets your lifestyle for a particular period of time each year. Since the cost of hotel reservations are highly dependent on economic and resort demand, timeshare vacation ownership establishes a guaranteed vacation at a stable price. The cost for rental of hotels typically rise faster than the cost of ownership. Thus, the vacation becomes a better value the longer you own it. Timeshare ownership is worth it, provided: 1.) you buy only the time (or your share) of a resort which you can sensibly use during a year, and 2.) with a style that meets you long term desires.

When should you buy, and when should you not?

If you like to take vacations for one week or more and like nice accommodations, purchase of a timeshare would probably be perfect for you. Buy with a resort with a good management group and an owner elected board (that looks after owner affairs). The highest quality resorts will be a member of one or more of the better exchange associations and the American Resort Development Association (ARDA). (Ed. Some of these are listed in the other sites of interest.) Buy only when you can use it or exchange in a way that allows you to use your vacation time.

Timeshares escalate in value much less than typical ownership. For most, they do not qualify as an investment for profit. Thus, if you cannot use a timeshare for vacation enjoyment, you should probably stay with hotels or other options. Due to their vacation value, for a time, many less scrupulous developers overbuilt and even oversold timeshares. That is over now. However, due to that previous era, the timeshare was saddled with a poor name for a while. Most properties have outgrown this stage and are on pretty solid footing now.

Conclusion

For most, timeshares are a good value. My husband and I have owned two for many years and we are happy with them both. As always, check any property (timeshare or year around) before you buy. Then use it and enjoy it.

Carol Partines, timeshare owner.

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The opinions stated are those of the author. The Timeshare Spot provides this location as a means to serve timeshare owners and users.Opinions expressed are not necessarily those of the Timeshare Spot, and unless otherwise stated, the people expressing them are not affiliated with The Timeshare Spot.

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