Timeshares Online - Timeshare Resale Advice - Guide and Advisor
A timeshare is a vacation program whereby a single unit, or vacation property, is divided into time-based intervals. These intervals are normally in one week increments and are sold to a number of buyers who will then share the occupancy and costs of that property. It's a bit like selling slices of cake in a bake sale, thereby sharing out the whole cake between a number of individuals. The property is normally a condominium in a resort but developers have extended the timesharing concept to campgrounds, recreational vehicle parks, cottages and boathouses.
Deeded timeshares and right-to- use timeshares are the two main types of vacation ownership available. Deeded is an actual ownership of a portion of the property and is essentially the same as owning a share in real estate. This gives the owner the right to sell, rent or give their share away. Right to use timeshare allows the vacationer to use that property at a certain time of year for a certain number of years but once that period ends, ownership reverts back to the developer. A deeded timeshare belongs to the owner indefinitely.
The concept of timesharing was born in Europe in the mid 60s and spread quickly across the Atlantic to America by the late 60s. These first timeshare programs were based on the idea of fixed week time intervals but a lot has changed over the years. Today there are various uses for timeshares that enable owners to tailor their vacations to suit their particular lifestyle, making vacation ownership far more flexible and appealing. There are now floating weeks, rotating weeks, points systems, vacation club memberships and exchange options. Vacation owners no longer have to go back to the same resort on the same week every year; but have the opportunity to stay in various locations around the world at any time of the year.
Timeshare has a reputation for high-pressure, misleading and deceptive sale techniques that put many people off. In general, timeshare sales presentations have improved and since major resort operators (Marriott, Hilton and Disney) have entered the industry the image of timeshares has also improved. However, consumers do need to be aware of the fact that deceptive tactics are still used and the best defence they have against this is education. Having an understanding of the timeshare industry and how it operates enables buyers to recognize dishonest sales practices and avoid being misled. It is also important to know your rights as a consumer.
Most problems occur in the marketing and sales of timeshare rather than the concept itself. By doing a bit of research on vacation ownerships and how they work, consumers would be better able to spot deceptive, misleading and fraudulent dealings. Knowledge is also the key to finding good deals and an ownership that will cater to your needs. Before you buy a timeshare you need to think about what sort of vacation ownership would best suit you and your lifestyle. Check out the how to buy timeshare page for more information.
In addition to the purchase price owners pay annual maintenance fees for the upkeep of the property and to pay for property management and services. There are also a number of other fees involved in the sale and purchase of a timeshare property. Although vacation ownership is a good way to allocate and control your vacation budget, it is not a good financial investment. Owners can expect the market value of their timeshare to decrease by at least 50 percent on resale.
A possible new alternative to prevent this loss is to explore what this company, "HPB" (Holiday Property Bond), offers. See their website for details at http://www.hpb.co.uk/.