Owning a timeshare can be a very good option to enjoy flexibility and freedom during your vacation. Whether it is a part of a unit in a resort, or simply a part of a condo, it is yours and you can use it as you wish, anytime you need it. You are also free to rent it when you are not using it and earn a regular sum of money, depending on its size, location, amenities, season etc.
Another advantage is that a timeshare, just like any real estate property, can be inherited and/ or passed down to your successors. Timeshares can also be traded or exchanged with other timeshare properties.
However, the main advantage of being a timeshare owner is that you do not have to book a resort anytime you go in vacation and browse for the cheapest rates. Costs will not inflate in time, which makes this investment profitable in the long run.
However, before you jump in, you must also consider the cons.
Timeshares are cheaper to rent than to purchase. Renting costs are similar to or even cheaper than hotel costs, so you might be more interested in this option than in undertaking the maintenance costs and the risks that come with ownership, and it will keep you from asking, can I and how do I sell my timeshare quick, if you make the decision to buy.
Article Source here: Things You May Never Knew About Timeshares
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Owning a timeshare is not always as you have pictured, so you should carefully consider the decision to purchase before signing the contract. There are however licensed Timeshare Lawyers who can help you with terminating the contract if you have already signed, and are now re-thinking your decision.
The most important thing is to be informed and understand exactly what means to own a timeshare. Many people do not fully understand the advantages and disadvantages and they end up regretting their decision.
Timeshares are not always good investments, because they are expensive, and when we say "expensive" we do not take into account just the initial cost. There are also special assessment and tax bills that do not pay themselves. Failing to keep up with all the costs will face you with foreclosure. Another aspect is that you may need to get a mortgage for purchasing your timeshare, if you can`t afford to pay cash and we all know that mortgages are a huge financial stress factor, sometimes over many years.
Timeshare salespeople are very convincing and insistent; make sure to say yes only if you feel comfortable with this, not because you feel pressured into making a decision that will only bring you headaches.
Not least, you must know that timeshares are typically very difficult to sell, so you may lose money in the process.
Original Post on: Thinking Twice Before Investing in a Timeshare
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Purchasing a timeshare is purchasing an interest in a piece of real estate, most often a vacation property.
Timeshares sell very hard, this is why sellers do their best to trick people into purchasing. So, if you attended a sales presentation and walked out owning a timeshare, take a little time and try to determine if that was really what you wanted and needed.
Owning a timeshare is not cheap and you will have to keep paying fees, taxes and assessments, just for having a place to use maybe about 1-2 weeks per year.
If weighting the pros and cons make you want to cancel your timeshare contract, you can do this, but do not lose more time and act quickly. There are laws in most states that allow buyers to cancel the contract. The reasons why you may want this cancellation do not matter. Whether you realize you cannot actually afford the ownership, or you simply have second thoughts about the necessity of owning a timeshare and you find that it is not as you have imagined, it is time to regain the control and cancel the contract. The companies that sell timeshare ownerships are also another process to consider. Talk to an attorney and start the preparations as soon as possible.
Original Post over here: Why Might I Want to Cancel My Timeshare?
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There is no guarantee that you will need your timeshare forever and all reasons why you may want to change your mind once you have signed a contract are perfectly acceptable: you need the money from the original investment, the maintenance-fees are ever increasing and you take no significant benefit from timeshare ownership etc. So you may be asking yourself how to get rid of a timeshare legally?
However, you will soon find out that getting rid of your timeshare is not easy at all. Even if you actively list it for sale, it will take a long time to sell it, so be prepared to wait some months. Meanwhile, you may want to try renting it; timeshares tend to rent quickly, especially if they are, high-value, high season.
Another aspect about the best time to get rid of your timeshare is related to determining its realistic value. A timeshare (especially an older legacy timeshare) doesn`t always have an inherent value, as many people are tempted to believe. You will have to use all the available resources to determine its true value. You can contact LTRBA for a written estimate or use various free online tools that offer you resale and renting prices, for any resort, as well as pricing guidance.
Not least, you can also contact a lawyer specialized in timeshare contracts.
Originally Posted over here: When is The Best Time to Get Rid of My Timeshare?
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