Everything You Need To Know About Timeshares - To those who haven't spent a lot of time researching timeshares, there seems to be the reputation that they are a good investment, and that it will go up in value because it is "deeded" property. But one thing that many people fail to do when they are at the point of making the decision "to buy or not to buy," is to check what timeshares are actually reselling for in the current market. |
|
Business Related Topics...
Computer Related Topics...
Entertainment, Recreation & Sports Related Topics...
Health & Fitness Related Topics...
Home & Family Related Topics...
Shopping Related Topics...
Would you like to submit articles to our site? Have a question or a problem?
You are here: DIME Home > Travel - Tropics > Everything You Need To Know About Timeshares
To those who haven't spent a lot of time researching timeshares, there seems to be the reputation that they are a good investment, and that it will go up in value because it is "deeded" property. But one thing that many people fail to do when they are at the point of making the decision "to buy or not to buy," is to check what timeshares are actually reselling for in the current market.
Author: Marie Phillips
Date: Sep 30, 2009 - 12:38:34 PM
Buying a timeshare can be an unforgettable moment for a lot of us. The sandy beaches, beautiful sunsets, amazing food, free gifts and your salesperson can leave quite a mark in your memory and it sure helps to get an annual reminder of that day in the form of a maintenance fee. Many timeshare owners have been frustrated with the results of their timeshare ownership and seem to look back to the moment when they purchased and ask themselves, "Why did it make so much sense back then?" The answer to those questions is really quite simple. A lot has changed in the industry since many of us purchased a timeshare, chances are timeshares were a much more sound investment at one point, but today it is simply not the case at all. Owners are finding that the resale market is practically non-existant and are beginning to wonder why their salesperson told them it was a good idea. A large portion of upset owner's questions can be answered simply by taking a good look at the changes that have occured in the past several years.
One of the biggest changes in the industry is the availability of travel through other means. The internet, like in so many other industries, has changed the face of the travel industry forever. It used to be that one had to be a timeshare "OWNER" to be able to stay at a timeshare resort, and today that is no longer true. There are a plethora of timeshare vacation rental sites that anyone can visit and book a vacation through. Today, anybody can stay at a timeshare resort, whether they've invested thousands of dollars in to the unit or not, if you are willing to pay for the weeks vacation, you have a place to stay. Most timeshare resorts today function exactly like a standard hotel; last minute bookings, discounted rates, and no "ownership" necessary. And ofcourse, a lot of these changes have been made possible via the internet.
To those who haven't spent a lot of time researching timeshares, there seems to be the reputation that they are a good investment, and that it will go up in value because it is "deeded" property. But one thing that many people fail to do when they are at the point of making the decision "to buy or not to buy," is to check what timeshares are actually reselling for in the current market. Property value is not determined by the price it is listed at, but rather by how much it actually sold for and what properties like it/around it are also selling for. It doesn't take long to see that timeshares on the resale market such as ebay, are "listed" for $0.01 to $200. What you would also find on ebay, is that timeshares for that price aren't even selling at those low costs. Many people at this point would ask, "how could you pass up the great deals on ebay," but the better question to ask is, "even if you could find someone who wanted a timeshare, why would they pay thousands for it when they can practically get it for free on ebay?" Resale sites like ebay have made the market incredibly competitive and many owners who have already spent thousands of dollars to buy into their program aren't able to come to terms with the idea that all that money is gone. Yet, the harsh reality is, it IS gone...
Even withouth the fact that the accessibility of timeshare rentals and a depressed resale market has resulted in timeshare ownership becoming non-existant, there are many other factors that are a part of timeshare ownership that can be unbelievably discouraging. One of the frustrations is called “maintenance fees.” Owners are billed each year (right around Christmas time) for their annual dues, which for numerous owners have gone up anywhere from $20 to 200% systematically. And “yes” if you take a vacation it pays for itself…but what will you think when 10 years from now you’re paying $3000 for a week on the beach while everyone else is getting there through orbit at $1000 for the week. The truth is, an ever-increasing bill will only stay competitive for so long, until you are paying beyond premium.
So if you are considering purchasing a timeshare as a wise way to spend your hard-earned money, then definitely do your research beforehand. Statistics show that, only 3.3% of people have ever been able to resell their timeshares over the last 25 years. If those statistics sound positive to you then by all means take your chances. If you are already a timeshare owner, perhaps some of this information can be intimidating to you but there are options available to help you with your timeshare problems. Timeshare listing companies haven't shown that they are able to give owners much hope for their money, but companies like Timeshare Depot can help timeshare owners shrink their long-term debt into a short term solution so owners never have to pay another maintenance fee ever again. Timeshare Depot encourages prospective timeshare owners to do their due diligence before making the commitment to sign on the dotted line. So whether you already own a timeshare or you are a prospective buyer, definitely keep a close watch on this ever-changing industry.
Going to Boracay Island? 5 Fun Things to Do on Your Beach Holiday ThereJan 10, 2010 - 12:06:16 AM |
Best Beach Resort in Boracay - Where to Have the Best Beach VacationJan 10, 2010 - 12:04:09 AM |
A good Web Hosting Service will Help to Increase BusinessNov 24, 2009 - 9:33:01 AM Every company prefers a top web hosting provider because it will help them to attract potential customers and sell their products online. These days there is a tough competition in the market. It does not make any difference whether your business or organization is small or large; it is very important that you need to have the right information on top web hosting. A good web hosting provider can help you to get a right plan and service to help your viewers to access your website and view your creation.... [Read the full story] |
Hotel & Restaurant & Spa in Vence, near St Paul de Vence in ProvenceOct 13, 2009 - 4:33:27 AM The French Riviera is famously known for its sea front tower high hotels where the rooms at the front are nosier but have a view. Now imagine a Hotel set further back from the concrete Cote d’Azur sea line up in the green hills of Provence, imagine a hotel with gardens full of Mediterranean frequencies, imagine your hotel room with a private terrace and all the luxury modern comforts. Imagine the hotel Cantemerle. The Cantemerle hotel in Vence is set in a beautiful terraced garden with views of the Mediterranean. The hotel is 800 meters for the centre of Vence, a lively Provence town typical of the French Riviera. 5 minutes over the hills is Saint Paul de Vence a village made famous for the... [Read the full story] |
Search for articles: |
Latest Articles in All Categories |
Putting Up a Small Commercial Printing Business |
So You Might Be Unemployed And Desire To Become A San Francisco Real Estate Investor Now |
Meditation and Mindfulness: Dealing With Emotion |
CPA Websites: Five Essential Ideas for Composing Convincing Articles |
Set Goals In Order to Come Up With Your Action Plan |
Is the Air in Your Home Safe to Breathe? |
Coarse Fishing Tackle Review: The JW Young 13ft Trotter Rod |
Section 1031 Exchanges For San Diego Real Estate Investors |
Phoenix Real Estate Investing For Highest Possible Earnings |
Legendary are the Volk Racing TE37 Wheels |
Developing the Next Generation Wall Station (ChaseDesk™) for Healthcare - A Case Study |
What are step down transformers? |
Introducing Sharehype, the Revolutionary Tool for Online Marketers |
Rewards To Shopping For Austin Real Estate On The Web |
Hydroponics for Beginners |
Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.
Dime-co.com Home |
|
|
|
|
|
|
|
|
|
|
|
|
|
Disclaimer: Dime-Co.Com is an online information article and video article network. All articles, video articles, comments, and other features herein are for informational purposes only and are provided "as is" without warranties, representations or guarantees of any kind. The views and opinions expressed in an article, comments, links or blogs are the author's own, and not necessarily those of dime-co.com's owners. For full disclaimer, please read our TOS.