TimeshareRegeneration.com
Can I (or should I) buy resale timeshares?
Approach a resale broker or visit a few timeshare-resale Web sites. Timeshare resales do offer the perks, luxury, and other facilities that accompany new ownership. Before moving on to the second question, which would be 'Should I buy a resale timeshare' - load yourself with information to ensure you are on the right track. Timeshare resale offer vacationers the opportunity to buy fully furnished vacation accommodations for only a fraction of the cost of new timeshare purchases.
What are timeshares?
To understand 'what are timeshares', you will first need to understand what defines a timeshare. It's a piece of real estate that is commonly owned by a number of individuals. The next logical question follows: why don't people simply book a hotel room instead of buying a timeshare? Timeshare gives the owners a home-like experience and is far different from the feeling of being locked up in a cramped hotel room. A fully furnished kitchen, swimming pools, spa, multiple bathrooms and roomy bedrooms are some of the common features of most timeshare properties.
A fixed week guarantees your accommodation at the resort for that week and that week only each year. In most cases, you may exchange your accommodation for a stay in another resort, but your power to trade for the destination and the time you want is restricted by the type of week you own.
What benefits come when buying a timeshare?
Luxuriate in spacious, high-quality accommodations, varying from studio units to spacious three-bedroom villas. Swimming pools, tennis courts, jacuzzi, spa and fitness facilities, you name it and you got it. Once you own a timeshare, the vacation choices are simply endless. The flexibility is offered through alternatives in location, unit size, time of year, and the opportunity to exchange with other resorts worldwide. Having a timeshare ownership, you can avoid what is typically called "Vacation Inflation": price increases during school holidays and at other times imposed by special events. You can also rent out your timeshare instead of using it. This can be a good alternative if you don't plan to vacation in a particular year or if something happens and you are not able to. If you are a deeded timeshare owner, you can pass on your ownership interest to your family's next timeshare regeneration. There are benefits galore but one has to do some background research to find which timeshare best fits their own personal needs and will continue to do so for years to come. So get ready for some wonderful holidays and please do evaluate timeshare resales as an option.
What Types of Ownership is available?
Deeded Ownership - True property ownership with deed recorded in the county where the property exists. This type of property has the same rights of ownership accorded to it as other deeded real estate. The owner may sell, rent, bequeath, or give away the property.
RTU (Right-To-Use) - Occupancy rights for a specified number of years, with no ownership interest in the property. Some states and some foreign countries do not allow deeded ownership of timeshares. Alternatively, a lease ownership or Right-To-Use ownership grants the Lessee the right to use the property for a specified period of time; usually from 20 to 99 years. The resort developer or Management Company holds ownership of the physical property. However, during the right-to-use period, the owner may rent, transfer, or bequeath the remaining years of their right-to-use property.
Points - This third option is a system where the consumer purchases an interest, shares, or "points" in a Vacation Club membership in lieu of (or sometimes in conjunction with) deeded ownership or right-to-use. The point-based system is neither solely time-based nor real estate-based -- it is initially described as "value-based."
Many methods are used to determine points valuations. All are under the sole control and at the complete discretion of the company running the program. For example, the developer or management company places a specific "points value" on: (1) the season of the year (high to low demand periods); (2) the size of the unit (from an efficiency or studio to a 3-bedroom villa); (3) length of stay (from one night to a full week or longer); and various other factors.
Please refer to the specific points programs for exact information on how each individual program works. This information is solely provided only as basic information.