A timeshare is a type of vacation club that give you the rights, along with other club owners to use a piece of property once a year, usually one week, every year for the same time period each year. (i.e. every January first through the fifth) Owning a timeshare/ vacation club may be a good deal for some, but is definitely not for everyone. There are many questions you may want to consider before signing the dotted line, they are:
*Do you really want to come to this resort every year at this time of the year?
*Can the timeshare be gifted or rented out?
*Can you afford the yearly fee and will they escalate overtime?
*What about the personal property taxes?
*Could your dollars be spent more wisely elsewhere, than on a timeshare/ vacation club?
After you answer these questions it’s time to do your due diligence regarding the different types of timeshares out in the marketplace. There are many benefits of owning a timeshare other than knowing you have a relaxing resort waiting for you each year. You usually get spacious vacation conditions, such as a one or two bedroom condo with a full kitchen with plate settings and silverware, range top, oven, microwave, dishwasher, living room/ dining room, television with DVD player and a clothes washer and dryer. All of the conveniences of home, including the ability to save some money on home cooking, rather than expensive dining out every night during your vacation.
Also, many vacation clubs own several units at different exotic locations. That allows you the option to experience different scenery around the world during your vacation.
However, there are many critics of the timeshare industry. They claim that:
*Timeshare units are overpriced.
*There are the ever increasing maintenance fees.
*There are personal property taxes that must be paid.
*The property value does not increase.
*You must pay the above fees regardless if you are able to use your allotted time slot or not.
To summarize the timeshare/ vacation club experience. The timeshare can offer an exciting, fun, relaxing yearly vacation, sometimes at different exotic locations. They offer nice home like lounging/ sleeping arrangements that can be far superior than many hotel/ motel stays and allow you to prepare your own meals. Also, they may be gifted out or rented depending on the terms of your contract. Always do your homework before committing yourself to a vacation club.