Timeshares are becoming very popular because they allow people to prepay for their future vacation accommodations at an affordable, fixed price. A timeshare is a shared property that has many owners. A timeshare is also known as vacation ownership, and the reason that they are becoming very popular to purchase is because they allow families of all budgets to plan and prepay for their yearly vacations at top resorts. Another reason that timeshares are becoming more popular to purchase, is that there are no maintenance required for a timeshare property. No longer will you have to spend your vacation time making repairs to a property as they will be done for you, which gives you time to relax and actually enjoy your vacation with your family.
Timeshare Property Ownership vs Real Estate Property Ownership
Have you been researching timeshare information, but don’t know if investing in a timeshare is a good choice or if you should invest in purchasing real estate property? Which is better, a shared timeshare property or a privately owned real estate property? The main difference between a timeshare property and real estate property is that timeshares are owned and shared by many owners, and real estate properties are owned by one single owner. In a timeshare property, all of the owners have an equal amount of financial interest and each owner will get to use the timeshare property during the week or weeks that they have selected each year. A real estate property ownership allows the single owner to have access to the property any time that they want. There are no designated times to use the real estate property.
The Cost to Maintain Your Property
There is another difference with a timeshare property ownership and a real estate property ownership, which are the maintenance costs. All timeshare property owners will divide the maintenance fees cost equally, and they will be paid in small monthly payments. The maintenance fees monthly payments are approximately $20 up to $50, and the maintenance fees will cover all the repairs and upkeep for the landscaping and common areas at the property, all repairs to the timeshare unit, and amenities that the resort provides to the timeshare members. Timeshare members will not have to do any of the work themselves so they can relax and enjoy their vacation. With real estate property ownership, all of the maintenance and repairs will have to be paid by the sole owner of the property, so if you are not a handyman or woman, then you may end up paying a lot of money to hire professionals to tend to the repairs for your real estate property.
What is a Timeshare Resale?
While you were researching timeshare ownership and real estate property ownership, did you see something about timeshare resales and you want to learn more? What is the difference between timeshare ownership and timeshare resales? A timeshare resale is a timeshare property ownership that is sold by the current owner to a new owner. A timeshare resale is not purchased or sold from the timeshare resort. A good thing about timeshare resales is the price. The price is usually always sold at a lower price, which is perfect for families that are on a budget. Timeshare resales are sold at a lower price because there are no sales incentive costs added to the price, and there are no marketing fees added to the price either. When timeshares are sold at a resort these added costs are hike up the sales price.
Timeshare Resale Scams Are Common
Buyers can expect timeshare resales to cost at least twenty percent to fifty percent below what a similar timeshare would cost when it is bought from the resort. A timeshare resale will be sold at the fair market value of the timeshare and no added costs are added to the price. Be aware that timeshare resale scams are common though. In fact, most timeshare scams that occur these days are the result of third party fraudulent companies that falsely present themselves as legitimate timeshare providers. They scam victims by requiring an upfront fee or processing fee to be paid in order to use their services. Once the victim has paid, the scammer will disappear as it is likely that they did not even have a genuine timeshare resale product. Remember, to protect yourself it is best to only work with a respected timeshare provider and always buy directly from the resort. Ready to plan ahead for all of your vacations, make lasting vacation memories, and save money? If so, consider a traditional timeshare so you can make your money count and avoid potential scams at the same time. Traditional timeshares are a safe way to save you money for future vacations so you and your family can create amazing memorable vacations now and in the future as well.
Consult with a Licensed, Bonded, and Certified Title Company
If you are going to purchase a traditional timeshare or a timeshare resale, you should make sure that you only use a licensed, bonded, and certified title company. A professional title company will be able to handle all the paperwork for a timeshare purchase. They will oversee the deed preparation to make sure it is done properly, make sure the escrow of the funds are correct, and handle the recording and closing statements for you all for one fee. Once the title company has this process completed, they will send the paperwork to a licensed attorney who will review all of the title work to make sure everything is completely legal and ensure your timeshare purchase is in order.
Now that you know all the information about a timeshare ownership are you ready to buy one? Right now is the time that you can take control of your financial vacation future.