Owning Timeshares - Advantages And Disadvantages

Feb 17, 2009 • By • 2,374 Views

Almost everything we come across in this life has attached advantages and disadvantages; the challenge is weighing them and forming a conclusion. The same scenario holds true when it comes to the timeshare sector, whether you're buying or selling. You are required to seriously consider all options available prior to reaching a concrete decision.

Let's first focus on the advantages that come from owning a timeshare, before switching to the negative. It's pretty obvious that the most cost effective way of buying a timeshare is for holiday use rather than purchasing the property for your own purposes that may mean you use it only once or twice annually. Most holiday properties are priced at above US$200,000, so, unless you frequent the place, it may not be worth it. You could possibly stay in a five star hotel for each and every holiday to come and end up spending less that you would in the latter option, leave alone the additional cash you may have to cough for taxes, property maintenance, and possible landscaping. The usual cost of a timeshare is around US$ 10,000, or a little bit higher when you incorporate all the additional fees that owners share.

Besides saving money, which is very essential to any buyer, you also get the chance of spending your holiday in a domicile similar to yours, other than spent your precious time in a stifling hotel. Majority of timeshare residence are at least two bed roomed, fully functional kitchen, and two bath rooms at minimum, wash rooms, and dens. That makes it similar to a home stay, the only difference being the location. Timeshare holiday homes are fully furnished, and some offer the luxury of a personal swimming pool.

Timeshare properties also saves you the worry of maintenance, because all you have to do is pay for the monthly fees and have all that work taken care of by someone else. If there is a timeshare property manager present, then you don't even have to bother about finding staff, just part with part of the bills.

When you have a timeshare property, you simply forget about the hassles of getting reservations, or the difficulty of deciding your holiday destination in your annual vacations, because you all that is taken care of and all you have to do is pack up and go.

On the downside, timeshare potential buyers and timeshare owners are often targets for scammers that mean you have to be on high alert all the time when dealing in timeshares, until all the legalese and paperwork is fully taken care of. Remember that you are obliged to cover monthly charges on the timeshare. This can be hard to meet sometimes, more so if you have the responsibility of other monthly liabilities.

Timeshares don't appreciate in value over time, so, should you decide to sell yours, you should anticipate getting half of your original investment. This disqualifies timeshares as an ideal investment option. You can also be limited on when and how you use the timeshare, and if you didn't take adequate time to read over the fine print of the contract, you could possibly end up in trouble. This can be a situation where you are only able to use a timeshare in November, just imagine how that could be, not a very nice thing to do.

This means you have to be extremely cautious when buying timeshare, the above points should serve to help you stay informed if you ever decide to purchase timeshare for your holiday needs.

About the Author

Abhishek Agarwal Abhishek Agarwal

Abhishek is an investment expert and he has got some great Timeshare Secrets up his sleeves! Download his FREE 113 Pages Ebook, "How To Get...

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