Timeshares are increasingly becoming an attractive option to owning a vacation home. This fact is evidenced in the growing number of buyers who are entering the market, despite the negative signs that todays residential real estate market is showing. So what makes timeshare industry click with consumers?
First of all, the term timesharing had its origins in the sixties. Back then, many European families found taxes too high that they decided to share vacation homes. The next decade saw the practice spread to America, in the form of one-week stays at resorts or condominiums. Another rationale for the birth of timesharing was the fact that maintaining a vacation property, which was used only once a year, was too expensive.
In recent years, the practice of timesharing has shown great benefits for many consumers. New research has showed that some Americans spend $5,000 and up for regular holidays, which is hardly affordable for most families. Maxing out credit cards can probably solve it. However, it is most likely that families would spend the next two years paying off for a No-Expense-Spared vacation just so they could do it again.
This has led some people to consider purchasing a timeshare. Basically, timeshares are vacation condos that are used for a certain period of time each year. They are patronized by many families because of their cost saving features. In 2006, consumers spent an average $17,620 to buy a timeshare week. That does not include the yearly maintenance charges that frequently add up to as high as $1,000, which has to be paid whether the property is used or not.
Despite that, many people consider timeshares a good investment into their vacations and their health. Here are the reasons why timeshares are becoming an appealing option to owning a vacation:
Affordability. Many former vacation home owners and would-be second home investors are buying timeshares at a fraction of the costs of a vacation property. In timesharing, no mortgage is often necessary and funds are not tied up in one big investment.
No vacancy concerns. Timeshare owners do not need to make their homes available as vacation rentals. There is no need for them to be concerned about maintenance issues with tenants, nor is there a need for them to maintain the property long-distance. They also have no such concerns when they sign out of their timeshares.
Reasonable maintenance fees. Compared to second home ownership maintenance charges, the annual expenses are inexpensive. Fees normally include property insurance, maintaining the premises, future furniture replacements and other updates, resort management and personnel, maid service, and other operational expenses involved in running the property.
With the varied features that timeshares offer, such as flexibility and different vacation lifestyle experience, families now have wider choices when it comes to location, time and length of stay. What is more, timeshares are not prone to blackout dates, so traveling anytime is possible. Thanks to the concept of timesharing, families now do not have to put up with vacations that demand thousands of dollars upfront.
Matthew Stanton has written many articles related to Timeshares. You may check this website if you want to get more information and how it can benefit you at Timeshares