Are you planning for a vacation? If you want to spend your vacation at a summer destination of your dreams, you can easily achieve it through buying a timeshare. Many people are buying timeshares as an investment. In fact, about 4.8 million household in the United States alone have timeshare ownership but you would wonder why most of them are wanting to get rid of their timeshares. So, if you are planning to purchase a timeshare of your own, think twice. It's better that you know first the advantages and disadvantages of timeshare ownership.
Owning a timeshare can be a good investment, aside from providing fun and relaxation, it can also be a source of income as you can rent it out. A timeshare week can also be a perfect gift to your friends or relatives for any occasion. Moreover, you can pass on the ownership to your heirs from generation to the next. These timeshare advantages can be considered a luxury, indeed, but as roses come with thorns, timeshare ownership also has corresponding disadvantages. Let's find out what are those disadvantages.
True enough, a timeshare is a luxury because just like any luxury it entails expensive fees. Timeshares come along with maintenance fees that increase over time even if you no longer use your timeshare unit. It also comes with special assessment fees you are obliged to pay as special circumstances arise.
Though luxurious, your timeshare unit will only be made available for you in a limited period of time. In fact, you'll only have one week per year to indulge in its luxury and before you can even get there, scheduling can take a while. Many owners book 2 years in advance and yet to no avail, they still were not able to have their timeshare whenever they want it.
Furthermore, the deeded contract of your timeshare ownership entitles your children to inherit your timeshare. They'll get to experience the luxury of timeshare ownership and at the same time the financial liability that comes along with it. Now, what if your children doesn't want it? How bittersweet!
Now, let the above information sink in and may it give you the wisdom in coming up a wise purchasing decision.
Owning a timeshare can be a good investment, aside from providing fun and relaxation, it can also be a source of income as you can rent it out. A timeshare week can also be a perfect gift to your friends or relatives for any occasion. Moreover, you can pass on the ownership to your heirs from generation to the next. These timeshare advantages can be considered a luxury, indeed, but as roses come with thorns, timeshare ownership also has corresponding disadvantages. Let's find out what are those disadvantages.
True enough, a timeshare is a luxury because just like any luxury it entails expensive fees. Timeshares come along with maintenance fees that increase over time even if you no longer use your timeshare unit. It also comes with special assessment fees you are obliged to pay as special circumstances arise.
Though luxurious, your timeshare unit will only be made available for you in a limited period of time. In fact, you'll only have one week per year to indulge in its luxury and before you can even get there, scheduling can take a while. Many owners book 2 years in advance and yet to no avail, they still were not able to have their timeshare whenever they want it.
Furthermore, the deeded contract of your timeshare ownership entitles your children to inherit your timeshare. They'll get to experience the luxury of timeshare ownership and at the same time the financial liability that comes along with it. Now, what if your children doesn't want it? How bittersweet!
Now, let the above information sink in and may it give you the wisdom in coming up a wise purchasing decision.
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