What is a timeshare?

Question

What is a timeshare. I see them on sale at ebay and want to know what they are. Do you make money of them. What is the point of having a timeshare.

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Answer 1

A timeshare - you buy part ownership in a resort, which gives you the right to use it for 1-2 weeks each year.

Buying timeshares are horrible investments if you buy directly from the resort, because the prices are bloatyed with massive sales commissions paid to the sales staff. many people buy them for $15,000-35,000, then discover it is not worth their time. they then sell them for what they can on Ebay - normally $500-$1,500.

Answer 2

A timeshare is a form of vacation property ownership. With timeshares, the use and costs of running the resort are shared among the owners. While the majority of timeshares are condominium vacation resorts, developers have applied the timeshare model to houseboats, yachts, campgrounds, motor homes and cruises.

The notion of a timeshare was originally created in Europe in the 1960s. A ski resort developer in the French Alps innovatively marketed his resort by encouraging guests to "stop renting a room" and instead "buy the hotel". The developer was successful in increasing occupancy and the idea spread worldwide. While a useful tool for many, the timeshare industry has also become a magnet for attracting illegal and barely legal methods for the sale and resale of property.

Answer 3

A timeshare is a segment of time you buy into a resort. It is like buying a new car. You don't buy it for the great return on the investment, you buy it because you want to travel. The timeshare industry is heavily regulated. Contrary to popular belief, a timeshare company cannot sell more than 52 weeks per unit. If they do, they can be subjected to license revocation, and serious litigation. I own a ttimeshare with Hilton. I have never had problems getting the time I want. There is plenty of flexibility and I'm not limited to just one resort. Buying into the "one resort" timeshare is foolish. Every year there is a maintenance fee that you pay on your home resort. The home resort is the property you have agreed to help keep up with the maintenance. With mine, I can go to any resort I want or transfer my club points to my Hilton Honors account and stay at regular hotels. I would never buy one on ebay. Remember 25-50% of people buy into timeshares and never use them. This is why there is so much flexibility. Travelling in off seasons is much better and much cheaper in the timeshare world. People say a timeshare is a horrible investment. Like I said earlier, it's like buying a new car. It's not for fiancial gain. Here's a link to Hilton's timeshare program.

Answer 4

DON'T BUY A TIME SHARE ONLINE!
Most of the time they become a HUGE waste of money & they are the tool of many scams!
Some people invest in properties and recieve a Timeshare, but I wouldn't buy one! Most banks & lending institutions will not loan on a timeshare. That means that they know that if someone doesn't pay that loan, they will NEVER get their money out of it.

Timeshare means that you buy the right to use a property for a certain period of time out of the year. Basically you are buying "occupancy" time in that property. If you want to know how good an investment is, check the "secondary markets"! There is almost 0 secondary markets for timeshares. This means if you buy one, you will mostlikely have it for life, unless you are willing to discount it to nearly nothing!

I'm a property realtor/property investor. Don't buy a timeshare, unless they are close to several nights stay of a hotel in that area, you have visited that resort, & you go through all of the avenues & contracts of aquiring it legally! (in my opinion!!!!)

Answer 5

Actually, it's perfectly fine to buy a timeshare on Ebay. There are plenty of rip-off sites out there for selling timeshares, but Ebay is not one of them. I've bought two timeshares on Ebay. Just be sure to do your due diligence and factor in the closing costs to the final bid.

Answer 6

A timeshare is ownership of a specific time slot in a resort condominium community.

In other words, if you own one week in this condo, you share ownership with perhaps 51 others in the same unit who have also purchased a week.

They are NOT money making investments. I know a number of folks who have purchased these things and seem to never use them.

Answer 7

You buy time in a condo, house ,townhouse, etc. along with other people and you own a share of the property. You pick the weeks you want and it is yours for that specified time. Alot of people buy timeshares for vacation property which is usually a pretty good idea. If you foresee not using the place during your time, yes, you can rent it, remember, you paid for this time and own a share!