My husband and I are tossing around the idea of purchasing a time share mainly for use in las vegas but we have no idea what we are doing. We are now looking at one listed on Ebay but I would feel better being better informed before clicking buy.
I want to know that we have made a good decision, and that we spend our money wisely, what info can you offer on timeshares in general as well as the pros and cons of them. and what ways are best to purchase them?
2007-05-21 16:06:16 · 6 answers · asked by Amanda B 1 in Business & Finance ➔ Renting & Real Estate
There seem to be more cons than pros in time shares. While time share is getting better there are still a lot of questionable practices out there.
1. Think with your head, not your eyes.
2. You have a yearly cost just to own, not including the vacation itself. Don't forget to include all costs.
3. Why are ther more time share resales that ever.
4. Unless you have a really fabulous week(s) will other people want to trade.
5. Do you really want to vacation in Vagas every year.
6. Do a spread sheet for about the next seven years to see what your real costs are.
2007-05-21 16:17:28 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
A timeshare has been defined in different solutions, yet right it is added perception into the assumption. you're a developer who builds a apartment undertaking in a holiday trip spot. The condos could sell for $4 hundred,000 each and every in a classic industry. you establish to sell one weeks sessions for $20,000 each and every. in case you sell all the weeks, you have gained over $a million,000,000 for a $4 hundred,000 assets. once you sell 20 weeks, each and every added week is organic income and whether you do no longer sell the final 32 weeks, you may lease them and shop the proceeds of the leases until you do sell the week. that's a stable initiate. yet right it is extra. You, the developer, actually have a settlement that provides you with the administration "accountability" for the undertaking. For that administration, you charge genuinely everyone a proportion of the taxes, maintenance costs (which covers the painters and roofers and housekeepers employed to maintain the valuables staggering) and a cost (your administration income). Win win for the developer. people who very own timeshares now could desire to apply them or lose the cost they paid for. And make annual money to hide assets costs and maintenance and taxes. And heaven assist you to in case you like to sell your timeshare interest to get your money decrease back out. traditionally, resales are for below the unique sales cost.
2016-11-25 23:53:42 · answer #2 · answered by smallwood 4 · 0⤊ 0⤋
Typically, time shares are a loosing real estate purchase, the lure to get in to real estate with a low entry point in cost is tempting. But rarely do you make your money back. Look at all the management fees, association dues, lots of little things they tag on. Your better off saving your money, putting it into your own house or buying a property of your own locally to fix up and rent out. People get caught up in saying, yes we have a place in the islands, or wherever. I would look elsewhere for an investment. REIT's are a great realestate investment with less risk. It is a stock fund of managed realestate properties. (apartments, malls, office building). You can buy them like a stock, and sell them just as easily. Just google REIT's and you will find plenty. Good luck and happy investing...
2007-05-21 16:21:02 · answer #3 · answered by Briandking 2 · 0⤊ 0⤋
don't buy on ebay, look up "timeshares" in Las Vegas, try putting in Grandview (it's located on the south strip, just south of the new South Coast Casino) on Las Vegas Blvd.
my friend worked there selling timeshares, but there are a lot of choices in Las Vegas.
2007-05-21 16:13:33 · answer #4 · answered by Miss Emily 3 · 0⤊ 0⤋
I have 2 timeshares, one in Orlando and 1 in Virginia. the best and safest way to go by buying the timeshare is actually visiting one the places you want to buy at. It is much safer, and sometimes, you can name your price.
in Vegas, Club De Soleil is good
2007-05-21 16:10:58 · answer #5 · answered by princessh 1 · 0⤊ 0⤋
Beware!, Time shares are only good if you know how to use the complex time table. Honestly think it through good because for 1/4 of what you spend on a time share for two weeks out of a year, you can buy a condo at your fav. spot and you have equity.
2007-05-21 16:16:16 · answer #6 · answered by timothy y 2 · 0⤊ 0⤋