Friday, April 2, 2010

Is a Timeshare Property Really Your Best Choice?

In recent years the popularity of timeshare ownership has grown several times over. There are now more than 2 million Americans that own timeshare properties. Some of these properties are in the US and others around the country. However, along with the rise of the timeshare industry an increase in the number of scams and frauds has also been seen. The prevalence of these scams has turn some away from timeshare opportunities. This has led to an increase in the number of alternate options besides traditional Timeshares. Some some of these options are also good alternatives to providing your family with an affordable vacation solution.

Most times, a timeshare property provides a good value for its cost. However, there are large upfront purchase costs, which must be paid. Purchase prices can range from $5,000-$50,000. Furthermore, the owner of the property is responsible for property taxes and make as well as maintenance and management fees that support the upkeep of the property. These fees can range from $200 to more than $1000 per year. Occasionally these fees outweigh the long-term benefits of timeshare ownership.

Exchange programs allow a timeshare owner to trade the use of their property for the use of a property at a different location. However not all timeshare properties offer this option. Even when they do they're usually fees associated with the exchange. Selling a timeshare can also be very difficult. It is not common to see timeshares selling at 40% reduction from their original price.

Because of some of these drawbacks and large range of new concepts is invading the vacation industry. Some of these new concepts are led by resort memberships and condo style hotels. For example, and one time investment costs can buy you a resort membership, and you'll be able to enjoy the benefits for the rest of your life without maintenance fees or taxes. These resort memberships can cost between $1000 and $100,000. Some resorts also have a yearly fee. Proper research will help you determine what is most affordable for you.

You might be able to find a lifetime membership at a resort for approximately $3000. This would be a pretty good deal. They may also offer a limited five-year membership for a little bit less. This resort membership would give you access to the resort when ever you want to go and would likely allow the use of other resorts within that company's network. So, this could be an affordable vacation solution.

Condo hotels are another new concept that have been gaining popularity as of late. Currently there are few owners, but the concept is receiving high reviews and seems to work well. Essentially, you would be buying a condo in a high-class hotel and receiving all the benefits and amenities available at the hotel. If you are not using your condo you can put it up for rent and receive a percentage of the revenue that it produces. Compared to a timeshare property a condo hotel may offer you more flexibility and a wider range of amenities across a variety of locations.

These concepts, as well as some other new ones are worth considering when comparing the value of timeshare property ownership. Traditional timeshare programs remain a viable and affordable vacationing solution while providing a solid long-term investment. But it's always important to thoroughly research your decision prior to purchase.

If you are thinking about timeshare ownership and desire to learn more Timeshare Information, you should check out We Own Timeshares. Meet and connect with timeshare owners on this Timeshare Ownership social network. It is free to sign-up and you can set up your own profile in minutes. Share experiences and reviews of different timeshare locations and start asking questions in the forum. Visit today.
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