Timeshare: Frequently Asked Questions

What is the need to buy timeshares?
The timeshare units are more comfortable and luxurious than any hotel providing an array of services to its customers. It serves both as a holiday vacation package and also as a real estate asset. It provides a right to enjoy ownership of the timeshare resort at a specific period of time. It provides quality accommodation to frequent travelers.
On what factors does the cost of timeshares rely on?
The factors which determine the cost of timeshares rely on the location of the timeshare unit, the season it is used and the size of the accommodation purchased. Apart from the purchase price, timeshare owners share all the developmental costs, maintenance costs, and management fees and to upkeep certain amenities like the swimming pool, tennis court etc.
What are crucial criteria to be thought of when buying a timeshare unit?
The price, location, flexibility of usage, lifestyle of the people who have purchased it and recreational facilities available in it are all very important. Apart from the above one needs to be very sure about the maintenance fees, ownership rights he is entitled to, the way the timeshare is managed etc. It is good to buy a timeshare through a reputed, licensed real estate broker.
Is there any difference between timeshare and vacation ownership?
Actually, there is no difference between them. The fundamental of vacation ownership is the same as the timeshares, but with lot of variants.
What are advantages of owning timeshare units?
Timeshares enable the person to spend his vacation at a swanky resort located at popular destinations at just a fraction of the money of what it would cost him if he were to buy it on his own. It can not only be used by the person owning it, but also can be rented out or gifted to his friends or relatives.
Whether the owner of the timeshare will be able to sell it anytime he wants to?
Although it is not impossible to sell it, selling the timeshare can be a little bit tricky as the availability is much more than the demand actually. If the timeshare is priced competitively and advertised well, a good price can be got out of the sale.