Why Buy a Timeshare?
What is vacation ownership?
Vacation ownership also known as timesharing offers consumers
the opportunity to purchase fully furnished condominium style
vacation accommodations in a variety of forms such as fixed
weeks, floating weeks, points based clubs, fractional and
cruises for only a percentage of the cost of full condominium or
vacation home ownership. Two basic types of timeshare units are
sold: fee simple where the buyer gets title to a fraction of the
unit; and right-to-use where the purchaser is entitled to use
the unit for a specified period of time, but does not have an
ownership interest. For a one-time purchase price and payment of
a yearly maintenance fees and taxes, purchasers own their
vacation either in perpetuity or for a predetermined number of
years. More than 5 million families have discovered the benefits
and affordability of buying one or two weeks of vacation
ownership rather than year-round ownership of a condominium unit
or second home.
Where are most vacation ownership resorts
located?
Vacation ownership resorts are found across the globe
in most every popular vacation destination. You'll find vacation
ownership resorts near beaches, ski areas, attraction areas,
major cities, rivers and lakes.
How does vacation ownership work?
Each condominium, or unit,
of a vacation ownership resort is divided into intervals, either
by the week or points equivalent, which are sold separately. The
condominiums are priced according to a variety of factors,
including size of the unit, resort amenities, location, and
season. For a one-time purchase price and payment of yearly
maintenance fees and taxes, purchasers own their vacation either
in perpetuity (Deeded) or for a predetermined number of years
(Right to Use). Ownership entitles you to a certain amount of
time in that property per year (Normally 8 Nights & 7 Days).
Owners share both the use and the costs of upkeep of their unit
and the common grounds of the resort property.
What are the advantages to becoming a vacation owner?
The
advantages are numerous. Vacation ownership secures affordable,
diverse quality vacations for life. Simply put, vacation
ownership provides tomorrow's vacations at today's prices. But
there's more. Typically your vacation ownership accommodations
far exceed your typical hotel room. Luxury rooms, kitchens,
multiple bedrooms and baths, they're really a home away from
home.
How many people are vacation owners?
It is estimated that
more than 5 million families have discovered the benefits and
affordability of buying one or two weeks of vacation ownership
rather than year-round ownership of a condominium unit or second
home. W
What are some of the most common vacation options?
- Whole ownership of a vacation home or condominium
- Pay rent to hotels & motels
- Rent or purchase a motor home
- Vacation ownership (Timeshare)
In timeshare you receive all of the same benefits of condominium or vacation home ownership at a fraction of the price because you only purchase the time that you need.
If I purchase, when will I receive my deed?
After the deed is
recorded at the county courthouse, it is then sent to you . With
most sales the usual time frame is approximately ninety days.
There are exceptions to this as some counties take longer to
process.
Can I ever sell my vacation ownership?
Yes. Once you are the
legal owner of a vacation ownership week, you may sell it at any
time. You can also will your timeshare, donate it, or sell it.