If so, have you done this before? There are some things that you should know before you decide to get involved in timeshare ownership. Timeshares do require some ownership of course, but they may cost you more than you think if you aren't careful. I am going to share with you some of the biggest challenges that timeshare owners face, and what to do about them.
Timeshare Ownership 101 A timeshare means that you aren't the only one who will be using a property, so to keep it simple you will be sharing this property with someone else. You will have the rights to use this property for specific time periods only, so it isn't yours to use all year long. So, first ask yourself if you are willing to do this, and if you aren't then it's time to move on. Generally, the property is a condo or some sort of residence which makes it nicer than a hotel room because you get more space and amenities than you would otherwise for just a standard hotel room.
Initial Investment This is the first consideration for individuals as well as couples. With a Timeshare, the initial investment is, on average, anywhere from $7,500 to upwards of $40,000. There are also annual fees, maintenance, and management fees that are the responsibility of the owner. By becoming a member of a luxury resort travel program as a timeshare alternative, the initial investment is $3,495 to $4,995. Quite a considerable savings over investing in a Timeshare. There are no management, maintenance fees, additional fees should you decide to add additional weeks to your holiday, or transfer fees.
In the good old days of the mid-seventies I was a sales representative and toured hundreds of prospects who were solicited from breakfast houses and public areas. I remember one promotion that awarded the prospect a whopping five Susan B. Anthony silver dollars as the incentive to tour, and they came. But timeshare was a new thing back then. As the public became more aware and less willing to commit to the tour, it demanded higher incentive offerings. Today these incentives may cost the timeshare resort $100 or more.
With a luxury resort travel program membership as a timeshare alternative, you may choose to reserve a room in a luxury hotel, on a cruise ship, or a nice quiet cottage during any season and week of the year. All of the resorts your membership gives you access to are 3-5 Star Resorts worldwide. If you decide on a Monday that you want to head to the beach on a Wednesday for a week of sand and sun, you have the freedom to do so. Your travel plans can also be made online with help from a live person.
Point Systems Many Timeshares offer a points system. With traditional timeshares, the owner is limited to a set time each year that the timeshare is available to them. The system is not a flexible system. By the use of a Points System, timeshare owners have more flexibility in choosing where they want to stay, what time of year, and for how long. Points have a monetary value and can be saved, swapped, or sold. There is also a fee for participating in Points Systems offered by various timeshare companies.
Bingo. Welcome new timeshare owner. A bell rang and they were congratulated over the public address system. All the salesmen applauded. A split of champagne was delivered to the table on a complimentary silver plated tray emblazoned with the resort's logo. Two hours and a barrage of paperwork later, following an elaborate 'closing' and 'verification' process, they were back on the street; silver tray, 'free' dining certificates and new owner's kit in hand, and $15,000 lighter.
Timeshare Ownership 101 A timeshare means that you aren't the only one who will be using a property, so to keep it simple you will be sharing this property with someone else. You will have the rights to use this property for specific time periods only, so it isn't yours to use all year long. So, first ask yourself if you are willing to do this, and if you aren't then it's time to move on. Generally, the property is a condo or some sort of residence which makes it nicer than a hotel room because you get more space and amenities than you would otherwise for just a standard hotel room.
Initial Investment This is the first consideration for individuals as well as couples. With a Timeshare, the initial investment is, on average, anywhere from $7,500 to upwards of $40,000. There are also annual fees, maintenance, and management fees that are the responsibility of the owner. By becoming a member of a luxury resort travel program as a timeshare alternative, the initial investment is $3,495 to $4,995. Quite a considerable savings over investing in a Timeshare. There are no management, maintenance fees, additional fees should you decide to add additional weeks to your holiday, or transfer fees.
In the good old days of the mid-seventies I was a sales representative and toured hundreds of prospects who were solicited from breakfast houses and public areas. I remember one promotion that awarded the prospect a whopping five Susan B. Anthony silver dollars as the incentive to tour, and they came. But timeshare was a new thing back then. As the public became more aware and less willing to commit to the tour, it demanded higher incentive offerings. Today these incentives may cost the timeshare resort $100 or more.
With a luxury resort travel program membership as a timeshare alternative, you may choose to reserve a room in a luxury hotel, on a cruise ship, or a nice quiet cottage during any season and week of the year. All of the resorts your membership gives you access to are 3-5 Star Resorts worldwide. If you decide on a Monday that you want to head to the beach on a Wednesday for a week of sand and sun, you have the freedom to do so. Your travel plans can also be made online with help from a live person.
Point Systems Many Timeshares offer a points system. With traditional timeshares, the owner is limited to a set time each year that the timeshare is available to them. The system is not a flexible system. By the use of a Points System, timeshare owners have more flexibility in choosing where they want to stay, what time of year, and for how long. Points have a monetary value and can be saved, swapped, or sold. There is also a fee for participating in Points Systems offered by various timeshare companies.
Bingo. Welcome new timeshare owner. A bell rang and they were congratulated over the public address system. All the salesmen applauded. A split of champagne was delivered to the table on a complimentary silver plated tray emblazoned with the resort's logo. Two hours and a barrage of paperwork later, following an elaborate 'closing' and 'verification' process, they were back on the street; silver tray, 'free' dining certificates and new owner's kit in hand, and $15,000 lighter.
