What is a Timeshare?

Question

What is a timeshare?If i buy one does it mean its mine and im the owner and i can sell it whenever i want too??

thanks=]

Answer 1

A timeshare is simply purchasing the right to access a vacation resort or condominium for a designated period of time. Bellow I listed the advantages VS the Disadvantages

Advantages: Timeshares on an annual basis can save you money on vacations and the amenities the resorts offer BLOW away a standard hotel or motel. You can find inexpensive resorts for sale on the resale market and the annual maintenance fees most likely will run you about $500 to $700 a year (depending on what location and size of unit you choose). You don't have to stay at the same location on an annual basis all timeshares affiliate with an exchange company, which enables you to stay at resorts across the country and world.

Disadvantages: You will be responsible for paying the maintenance and taxes every year whether you use the unit or not. There will be restrictions on exchanging depending on the rating of your home resort (that's where research comes in). Selling the timeshare can also be a challenging task, but if you buy resale your losses will be minimal if at all.

If you are planning on buying a timeshare I suggest doing lots of research and lots of financial planning.

.:Gene:.

Answer 2

We must first discuss what a timeshare is. A timeshare is a property which is jointly owned. Two or three groups might sign up to own a vacation rental and use it throughout the year. Each person/group will use the property at specific times. One person might use the family vacation property during the spring. Someone else might use it during the fall. It all depends on when the person/groups wants to use the house.There are some who do a timeshare-exchange. This is when one person/couple swaps out one property rental for another. This is actually becoming a very popular thing to do. It saves money on booking a hotel.
what is a timeshare exchange -
THE ACCOMMODATIONS
What are the benefits of having a timeshare or timeshare-exchange resort program?

You can pick the amount of space you want. With a hotel room, especially at a fancy resort, you don’t always get the option of space. The room is pre-designed. You have to sometimes take what you get. With a timeshare you can choose how much space you want. If you want to have big, you can go big. If you and your party prefer a smaller area, you can do that.

Always check with the other parties involved about the spacing. What you might think is good enough for you, might not always be a good fit for the other people. Other people are going to be sharing the space too, at a certain point. Even if the person/group only stays a few days, the idea is to be comfortable.
Source(s): http://www.whatisatimeshare.net/what-is-a-timeshare-exchange/

Answer 3

A timeshare is an agreement between you and the managers of a resort property where you have the right to use the unit for a specific time. You might be able to go every year, every year, or some other variation like that. You may be charged maintenance fees, cleaning fees, etc. The agreement will spell out all of this, as well as how you can go about selling it.

They were really popular about 20 years ago, then they faded. Some people love 'em, some don't. I say you could put the money in the bank, and pay for part of your vacation with the interest it earns.

Answer 4

A timeshare is a real estate transaction where you buy an interest in a piece of real estate , a condo or an apartment or a house and your interest gives you ownership rights that are for a certain period of time (2 weeks) at a certain time of the year ( first two weeks of July).

You may switch your rights with another owner or with someone else and there are actually clubs that help you find people who would rent your timeshare or exchange it for a timeshare someplace else.

You can typically sell your ownership rights to someone lease just like you would sell your title to any other piece of real estate.

Just remember that it is not only the price for th etimeshar but there are typically monthly maintenance payments for upkeepof the complex.

Answer 5

DONT DO IT!!!!!!

...well, unless you have plenty of money to waste. You buy "stock" in their properties, pay monthly maintance fees on top of the "low low monthly cost" of the timeshare, think my offer was around $300/month for 10 years. Then you are stuck going only to their properties forever. Nobody but them will tell you its a good deal. Just look in the newspaper for someone selling theres, there should be plenty.