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What is a Timeshare

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									What is a Timeshare?

A time share is a name given to a piece of property shared among number
of owners. This involves use and cost of maintaining the property.
Although the majority of the timeshare properties are condominiums
resorts but it will not be a surprise if you find a hotel timeshare or a
motor home timeshare or a cruise timeshare or a campground.

The choices are increasing by the day. The idea of a timeshare property
originated in Europe in 1960s when the property rates were skyrocketing
and it was impossible for people to afford a full time vacation house.
But by sharing the ownership the burden of maintenance and other costs on
single person were greatly reduced. These also boosted the fortune of
real estate developers as they were able to successfully market and sell
the properties to a greater number of people. But a key point to remember
in timeshare properties is that a timeshare is owned by a number of
people who have no relation to one another like a standard home
ownership.

A technical definition of timeshare property is that an owner has
specific time to share you own in a property. But as more and more
properties are being converted into timeshare, flexible timeshare options
cannot be ruled out. The flexible timeshare offers owners the option of
choosing more than one timeshare destination and also more than one
specific time of a year.

Timeshare properties are usually found in warm destinations like Florida
where people like to vacation a lot. They can also be found in cold
weather areas near ski resorts. The timeshare properties are typically
furnished in full and usually have one to three bedrooms, multiple
bathrooms, a kitchen and a living room. It may not come as a surprise if
you find timeshare properties with indoor or outdoor pools. They have
become a common feature of most timeshare properties nowadays.

The typical duration of a timeshare ownership unit is one week. Depending
on what time of the year you own the timeshare the price may vary. For
example, a timeshare property in the month of April in Florida will be
much higher than in August. So the rates may vary with varying season
and demand. Some resorts give color coding to different seasons depending
on the demand. For example some resorts term high demand season as red
season meaning the prices of the timeshare will be highest in that
season.

Timeshares can usually be inherited to your children like any other real
estate property. Timeshare offers not only a great vacation but also
great investment. Most people rent their timeshare to others when they do
not use their timeshare. This has a double advantage. You earn rent also
along with appreciation of the property with passage of time. Timeshare
properties are exchangeable and tradable with other properties in most of
the cases. While it may be easy for the owners of the red season
timeshares to exchange their unit with other owners in any season it
might be impossible for owners of low season timeshare owners to get a
high season timeshare unit in exchange.
Timeshares can be purchased through financing also but mostly the resale
properties purchased from individuals are paid in cash. The cost of
maintenance, management and cost to maintain common areas like pools and
tennis courts are paid by timeshare owners. Fees may vary and always make
sure to find it out before buying a timeshare.

There are many types of timeshare properties. A fixed unit, fixed week,
deeded timeshare allows you to own a specific timeshare at a specific
time each year. A floating time agreement allows you to be flexible about
the dates that you can use your timeshare. But reservations may be only
first come first serve as many owners would like to go for that option.
Right to use timeshare is a leased timeshare. You no longer have rights
to the property after the lease expires.

								
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