What Is A Timeshare, The Different Types Of Timeshares, Why People Should Not Invest In Buying Timeshares, And The Problems With Investing In Buying Timeshares

Download or read book What Is A Timeshare, The Different Types Of Timeshares, Why People Should Not Invest In Buying Timeshares, And The Problems With Investing In Buying Timeshares written by Dr. Harrison Sachs and published by The Epic Books Of Dr. Harrison Sachs. This book was released on 2024-01-18 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay sheds light what is a timeshare, reveals the different types of timeshares, demystifies why people should not invest in buying timeshares, and explicates the problems of investing in buying timeshares. Succinctly stated, a timeshare can represent fractional ownership in a real estate property, such as a house or condominium, or can alternatively represent a “lease allotment of usage” at a resort. For instance, purchasing a shared-deeded timeshare furnishes a buyer with “a form of fractional ownership” in a real estate property. When you buy a shared-deeded timeshare in a real estate property, the real estate property is often located at a desirable vacation destination. Having fractional ownership in a real estate property allows a buyer to be conferred with the benefit of having a percentage of ownership in a real estate property. Having fractional ownership in a real estate property in the form of a shared-deeded timeshare provides the fractional owner of the real estate property with exclusive access to the real estate property for a finite period of time every year. Purchasing “one month of a shared-deeded timeshare” would, for instance, culminate in a buyer owning one twelfth of the real estate property. Purchasing a shared-deeded timeshare not only provides a buyer with fractional ownership in a real estate property, but also affords him the option to be able to sell his fractional ownership in a real estate property. Purchasing a shared-deeded timeshare in which you have fractional ownership in a real estate property that is located at a desirable vacation destination can bear a recurring fee, such as a monthly recurring timeshare maintenance fee, that is significantly lower than the recurring fee, such as a monthly recurring HOA fee, that is associated with entirely owning a real estate property that is located at a desirable vacation destination. “In 2018, timeshare maintenance fees cost $1,000 per year on average, according to ARDA”. As of January of 2024, the annual amount of timeshare maintenance fees that are associated with having fractional ownership in a real estate property that is located at a desirable vacation destination are often infinitesimal relative to the amount annual amount of homeowners association fees that are associated with entirely owning a real estate property that is located at a desirable vacation destination. “Homeowners association fees tend to vary drastically, depending on the property or community. The fees range anywhere from $100 to $1,000 per month. The more services and amenities” that are offered in the residential community that the homeowners association is located in, “the higher the homeowners association fees”. Even though purchasing a shared-deeded timeshare significantly reduces the cost of being a real estate property owner due to having fractional ownership in a real estate property, having fractional ownership in a real estate property in the form of a shared-deeded timeshare not only still bears a steep recurring timeshare maintenance fee, but is also not commensurate to entirely owning a real estate property. When you have fractional ownership in a real estate property in the form of a shared-deeded timeshare, then you are unable to access your real estate property for the vast majority of the year. Having fractional ownership in a real estate property in the form of a shared-deeded timeshare provides the fractional owner of the real estate property with exclusive access to the real estate property for a finite period of time every year which is often a duration of one week per year as of January of 2024. When you have fractional ownership in a real estate property in the form of a shared-deeded timeshare, then the specific annual “allotment of usage” periods that are associated with the shared-deeded timeshare are apt to be stipulated in its corresponding shared-deeded timeshare contract. On the other hand, when you entirely own a real estate property, then you can outright have access to the real estate property for the entirety of the year. When you entirely own a real estate property, then you also are not restricted from accessing your own real estate property for the vast majority of the year. When you entirely own a real estate property, then you also do not have to deal with the potential issues that can arise from splitting ownership of a real estate property with other people, such as the grave issue of the real estate property being tainted with thirdhand smoke.