timeshares?

Question

what exactly are they, and how do they work? is it worth the money?
nothing to do with beauty or style i know, but i didnt know where to put it.

Answer 1

you pay a yearly maintenance fee to a manager. They will maintain the place in exchange you letting you stay there one week out of the year.... you generally pay for one location but you can exchange your week at that place for a week anywhere else in the world. The price you pay depends on the week of the year you buy, the property, location, best time of the year to be at that place, etc.

If you travel a lot and use it this is good. Otherwise its like doing time.

Answer 2

Timeshares are properties that you share with other owners. Since there are 52 weeks in a year, a timeshare can have 52 owners including you. You get a week every year. If you own a timeshare in an expensive location like Hawaii, you may be able to trade your 1 week in Hawaii for 2 weeks in Mexico.
It is only worth it if you use it because some contracts force you to use your week within a certain timeframe. Basically it is a prepaid vacation. If you are planning to go on vacation every year and stay at a 4-5 star hotel then timeshares are better in the long run.
Timeshare salespeople are like New Car Salespeople. They will show you all the great statistics but in the end hit you with a high rate. So before you buy you might want to arrange a rate with your bank first.
Ive been to 2 presentations but I did not buy because I like looking for last minute deals on-line and do not mind staying in cheaper hotels. Maybe when I get a family I will reconsider and buy.

Answer 3

What T said is one way Timeshares work. The basic premise is you buy a condo/suite for 1 week. You get a deed and everything so it is property. So you can go to that resort and stay in your condo every year. This is what alot of people do in Hawaii that like going there every year.

Here where it gets confusing. There are timeshare networks like RCI, that will let you exchange your week at your resort for another week at another resort. That's is the old way timeshare networks work.

The new way is a points system that is more flexible and allow you to stay at resorts for less than a week. For example, I will book weekends at timeshares in the Wisconsin Dells during the summer months.

Timeshares are a good deal if you are not super old and you use it every year. The timeshares will only save you money in the long run, ie after 10-15 years of use. Remember since timeshares are deed property it can be passed along to your kids as well.

Also with the new system of points at RCI, you can use the points you get to purchase air fare, get reduced prices on cruises, to name a few.

Answer 4

A timeshare has been defined in different solutions, yet the following is extra perception into the theory. you're a developer who builds a apartment challenge in a visit vacation spot. The condos would promote for $four hundred,000 each and every in a classic marketplace. you be certain to promote one weeks classes for $20,000 each and every. in case you promote each and every of the weeks, you've received over $a million,000,000 for a $four hundred,000 resources. once you promote 20 weeks, each and every extra week is organic income or maybe if in case you do not promote the perfect 32 weeks, you could employ them and keep the proceeds of the leases until eventually you do promote the week. it really is a strong initiate. yet the following is more beneficial. You, the developer, actually have a settlement that promises the administration "duty" for the challenge. For that administration, you cost anybody a share of the taxes, upkeep expenditures (which covers the painters and roofers and housekeepers employed to maintain the resources powerful) and a cost (your administration income). Win win for the developer. those who personal timeshares now ought to apply them or lose the cost they paid for. And make annual funds to cover resources expenditures and upkeep and taxes. And heaven help you in case you opt to promote your timeshare interest to get you money back out. traditionally, resales are for below the unique revenues cost.

Answer 5

the above answers are good, i actually own one also and we're kinda thinking of selling it so if you're interested, let me know... the deed is actually in colorado but again, you can use your weeks anywhere in the world.. even on a cruise.