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Time Share: A Great Vacation Opportunity for the Family - May 15, 2008
 | | “Where are we going this year?’, Photo Courtesy of Photolibrary |
With a busy family, hectic work schedule and decisions to be made daily on a variety of topics and issues, one thing the average person does not want to struggle over is where to vacation to get some rest. For many, time share real estate offers a convenience that takes the edge off of the question, “Where are we going this year?’
Time share real estate is a deeded property that a person or family has the right to use one week a year at their convenience. The average person does not start out looking for a time share, it is often property that is stumbled upon from a variety of unassuming sources.
Real estate or management companies utilize crafty methods of introducing their product to potential buyers. Sometimes they receive a notice in the mail informing them they have won a prize and must go to a certain location to hear a presentation to receive their prize. The presentation is of course on the time share available for purchase.
Robert Lindquist, professor of business at Argosy University, Orange County advises potential owners to choose the location of the time share property carefully. “One thing to consider is whether there is a downside to selecting a location that has seasonal limitations such as ski resorts.” Lindquist says. He emphasizes it is important to select a location that will be attractive when trading for a new vacation spot when the family wants to make a change.
Lindquist sites several advantages to owning a time share:
* If this is a second home, the time share can be considered a second home and may be eligible as a tax write off.
* The time share guarantees the family a vacation spot one week out of the year in the original location or it can be traded for another site.
* The property can be maintained and kept until it is paid off or the family can choose to sell it.
* Time share resales are available.
For those who feel the cost of a full time share property is prohibitive, there is an option to buy the real estate in an every-other-year-arrangement for half the cost. This provides a reduced cost and still provides a family vacation site.
“Time shares provide stability within the family regarding travel, but they should never be looked at as an economical investment,” Lindquist says.
Courtesy of ARA content |
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