I Want To Buy a Timeshare
A timeshare is a piece of real property shared/owned by multiple partners.
Back in the late 70s (or early 80s), my friends introduced me to the timeshare concept. When they explained it to me, I thought it was the dumbest idea I had ever heard.
They had purchased a cabin in North Carolina. For two weeks out of the year, they got go vacation there. The rest of year, other people were vacationing there.
My question was: Why the heck would anybody pay for a property they can only occupy for two weeks out of the year and own this piece of property with a bunch of strangers?
Of course, my friends were doing quite well financially. They owned their home and had houses on rent, they both had full-time jobs that paid well, owned a Volkswagen beetle and a full-size family-style van. And me? I was broke!!
So I rationalized. Surely my friends - my financially savvy friends - didn't just jump into a bottomless pit without first counting up the costs before they made a sound wise financial decision to purchase a timeshare property. There must be more to this than what meets the eye. I mean ... MY eye. There had to be benefits.
Contents at a Glance
So What Are the Benefits of Buying a Timeshare?
In a nutshell, benefits of investing in timeshares are:
- 1You do not have to pay the entire cost of the house.
- 2Timeshare has more facilities than a hotel and it is like a condominium. They generally have 3-4 bedrooms with bathrooms, washing machines, swimming pools, kitchen, barbecue grills, and lot of other home facilities. Unlike hotels, the entire house is yours for those specific days.
- 3You don't have to worry about the hotel bookings and don't have to bear the expenses of staying in a luxurious hotel.
- 4If you cannot make for the yearly vacation, you can also treat it like a rental property. You can rent your timeshare at increased rate and earn some extra income. Many people buy timeshares as an investment and use them as vacation rentals.
- 5Most importantly, you can enjoy the luxury of coming back to your favorite holiday destination every year.
- 6You know the exact details of the property, so you know what to expect. You can carry different things to the destination and plan your holiday as per your recreational preferences.
Read more:
Some say "PRO". Some say "CON". I say "Don't be quick to write stuff off as a dumb idea (like I did)". Gather accurate intelligence and make an educated and informed decision.
To me the obvious benefit is this:
- Consider a place where you wouldn't mind going on vacation more than once. But you just can't afford to buy a second home there. And you hate staying in hotels. Timeshare?? Hmmm ... ???
This lens hopefully provides useful info, links and products to get you moving in the right direction.
[Image Credit: Geograph Britain and Ireland project. | Picture of a holiday timeshare.]
Additional Links
- Total Cost of a Timeshare Purchase | Suite101.com
- There are four ways to break down the costs of a timeshare purchase, and they are usually glossed over at best by the sales representatives.
- Opportunity Costs in Buying a Timeshare | Suite101.com
- Timeshare purchases cost thousands of dollars over the course of a lifetime, and they also can cost thousands more that go unseen.
- Timeshare Industry
- Most industries in the world have not escaped the effects of the global economic crisis. One of the worst hit business sectors in the world is the timeshare...
- Growing Timeshare Market in India
- The timeshare industry is one of the most controversial industries in the whole world. Nevertheless, the market os growing in India.
Blog to Follow: The Timeshare Authority
Subscribe to RSS Feed for Timeshare News, Info and Advice
Most recent blog posts below:
TWEETS to Follow: Buy a Timeshare
Helping Timeshare Owners Sell or Rent Their Timeshares.
Did you say eBay?
No. I didn't say eBay. Someone else said it.
Someone said that you could purchase timeshare properties real cheap on eBay. When they suggested eBay, I said to myself "Hmmmm???"
OK. It's not an original quote. But I'll bet you would have said the same thing!
If you are going to buy something pre-owned, where else but on eBay?
Pre-owned timeshare properties on eBay? Hmmmm??? Why not?
Embitca said it!
It makes sense!
"Embitca" is a conscientious freelance writer with an impressive background. In addition to the "Tips" recommended in the article below about purchasing timeshares via eBay, visit embitca's website, Timeshare Resales for more comprehensive information and to find timeshares at great prices.
- Tips for Buying Cheap Timeshares on Ebay
- Timeshares often show up on top ten lists of things not to buy new. And if you are going to buy something pre-owned, where else but on eBay?
Embitca a.k.a. WowReviews is also a Giant Squid right here on Squidoo.
Timeshare tips advice (and more!)
On eBay you can buy your TIMESHARE from the market leaders on eBay.
eBay Timeshare Property Auctions
(Feed updates daily)
Google News
Stay "in the know" About The Timeshare Industry
- Got a penny? Buy a timeshare
- How about buying a timeshare? If you are savvy on the Internet, you can find timeshare owners who are eager to sell their well-loved vacation spots for $1. That is, of course, if you will pick up the annual maintenance fees.
- Got a penny? Buy a timeshare
- How about buying a timeshare? If you are savvy on the Internet, you can find timeshare owners who are eager to sell their well-loved vacation spots for $1. That is, of course, if you will pick up the annual maintenance fees.
- 2012 Annual Salary Survey for the Timeshare/Vacation Ownership/Fractional ...
- Executive Quest, Inc., the only company to provide this particular salary snapshot of the timeshare/vacation ownership/fractional industry, finds the industry's economy is looking up. Keith W. Trowbridge, Ph.D., President of Executive Quest, ...
- Timeshare's Lobo keynotes with Apple co-founder
- Nigel Lobo,vice president of resort operations at Grand Pacific Resort Management (GPRM), joined Apple co-founder Steve Wozniak to speak at an event hosted by the Vacation Club Association of Quintana Roo. Lobo wasn't the only familiar face from the ...
Sign GUESTBOOK | Leave COMMENTS
Did You Found This Real Estate Investing Information Useful? Please let us know you stopped by.
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lifestylebuilders
Mar 30, 2012 @ 6:50 am | delete
- Buying a new home can be a very exciting time in a person?s life. There are many considerations one should be aware of before taking the plunge into new homeownership. Richmond VA New Homes
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logreen
Mar 4, 2012 @ 2:19 pm | delete
- Nice and useful tips
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highereducationmarketing
Mar 4, 2012 @ 2:17 pm | delete
- Very informative post, I enjoyed reading it :)
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wilfredpadilla
Oct 22, 2011 @ 10:49 pm | delete
- Best tip ever!
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Treathyl FOX, Cedar Park, TX.
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