Many individuals buy timeshares after research and analysis. But same is not true with some individuals who simply buy timeshares hearing the buzz surrounding it with poor perception and ignorance about timeshares. Obtaining a timeshare is a massive investment and thus should be resolved utmost importance. Before purchasing a timeshare you need to first question yourself whether is it really for you? How often do you try for vacation? Is that place appropriate for you to go year after year? Do you want to buy a timeshare just for vacation purpose or you are buying it as an investment?
Even if you determine to obtain a timeshare property you ought to start your research a minimum of nine months before you obtain a timeshare. But let us weigh in various aspects to know whether timeshare is really for you or not. A vacation home could be a minor financial investment for few rich and wealthy but to many middle class people it is workable only in dreams. Middle class people badly needed a choice to this costly investment. The look for a choice lead to the discovery of timeshare in Europe in 1970′s. This was a welcome relief to many people who couldn’t afford to obtain a costly vacation home. This concept gained huge popularity with every passing year and these days over two million U.S. citizens own timeshare places which is a big number.
A timeshare is nothing but a real estate property split into many ownerships. The price is shared among the owners. Timeshares are basically classified into two types of plans, deeded and non-deeded. In a deeded plan the owner buys the timeshare unit and the unit for 30-40 years. It can again be classified into fixed use and flexible use. A fixed use allows only a specific time and specific number of years where as a flexible use timeshare allows you to choose vacation any time of the year but only on first come first serve basis as many people would like to go for that option. The other types of plan called non-deeded plan is likewise called right to utilize plan which is like a lease, you have similar facilities but only for specific period and you lose all the rights after the lease expires.
Having understood what a timeshare is and different types it is likewise important to dig into the facts of timeshare. » Read more: Timeshare – Is it Appropriate For You?