Timeshare 101

If you’re searching for a way to own your own piece of paradise at a fraction of the price, a timeshare is a great option. When you own a timeshare, you literally “share” the property with other people, each getting a set number of days or weeks each year at the resort. When you buy a timeshare you may buy one of two types of timeshares; you either buy deeded ownership in a piece of real estate that grants you shared interest in a unit that you use for a defined time each year, or you buy a right to use, membership, or points program that lets you use various properties like hotel, resort or condo units for a specific amount of time.

When it is time to choose your vacation time there are usually two options for this as well; you either commit to a fixed time each year for use or you choose a floating use timeshare, where the available days for booking are in different use periods. For example, some floating time resorts use Red time for summer and winter and other resorts may have what is called “all season” which is for the entire year. The great thing about a floating timeshare is that you have a lot more flexibility for when you can use the timeshare, unlike fixed week timeshares. Be aware that you are competing with other timeshare owners for popular vacation dates so make sure you make your reservations as soon as it is possible. The other option for a timeshare purchase is a fixed week timeshare where you get the same week every year. This is great for planning, reunions, and guaranteed time in a desirable time period like New Years, Fourth of July, and other popular holiday periods.

Keep in mind that buying anything has pros and cons. Make sure to do your research and learn about any fees associated with the purchase and upkeep of a timeshare such as finance charges, taxes, maintenance, etc.  Find out if your timeshare includes a points program and if so how to use it. Timeshare Resales are a great way to save more money when looking into your fractional ownership.  It is helpful to work with a local, knowledgeable and reputable Timeshare Resale company that never charges upfront fees. A timeshare resale agent will act as a liaison between you and your resort; helping you book vacations, setting you up in the exchange program, and can generally make your process much smoother. The other benefit of buying through a resale broker is they can help ensure you receive 100% of what was promised. Having a timeshare affords you the opportunity to get away, relax and simply enjoy the finer things in life each and every year without the hassles of second home ownership. When you are on vacation the last thing you want to do is work on house repairs. However, if you want a good investment and don’t mind the extra work on a home, purchasing a home would be a good idea, especially in this buyers market.

If you are interested in more information or help in locating a good timeshare or second home in either Lake Tahoe or Hawaii you can email Paradise Real Estate & Timeshare Resale or call 1-800-996-2001 for more information. For more tips on timeshare resale and second home ownership in Lake Tahoe feel free to visit: www.timeshare-resale.com or for homes www.paradise-realestate.com

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