Timeshare Buying Guide News

Timeshare Buying Guide News
PR-USA.net (press release), Bulgaria - Jan 29, 2008 Americas Watchdog's Homeowners Consumer Center has developed a free 20 page mortgage guide, ...

Many people, however, decide to just stay home, because they don’t want to go through the trouble of deciding where to go, making reservations, dragging the kids along, etc. If you aren’t able to plan your vacation well in advance, then odds are, you won’t go. One way to get past this problem is by purchasing a timeshare. In general, there are two main varieties of timeshares today, a deeded timeshare, and a floating timeshare. If you go with the deeded timeshare option, you are actually part owner of a property, and will be able to use it according to the terms of the contract that is drawn up with all of the other owners. You will only be able to use the property at a certain time each year, and if you can’t go at that time, and another owner isn’t willing to trade with you, then you lose your time for the year. With a floating timeshare, you reserve the dates that you want to have the property available to you, again, according to the contract terms. Anyone who knows these rights, and knows that you aren’t aware of them, can easily take you for a ride if you aren’t careful. Keep in mind as well that it is not advisable to purchase a timeshare for a financial investment, and if that is what you are thinking of, then you should maybe look at some other investment options. When it comes to reselling a timeshare, most of the time the owner loses money, so keep that in mind.Remember, when buying a timeshare, you are not only responsible for the initial fee, but will also be sharing costs with the other owners. You will need to pay a portion of the mortgage payment each month, maintenance costs, property taxes, and any other fees that come up with the purchase of the property. You should look at the average monthly costs of the timeshare, and then weigh that with the average hotel costs in the area, and decide whether or not it really is worth it to you. You may find that you can save money by reserving a room in a four star hotel for the week of your vacation, rather than paying the high costs associated with many timeshares.