A timeshare, which may also be referred to as vacation ownership, or shared ownership, is simply that — the shared ownership of a property. Many people dream of purchasing vacation homes or other vacation spots (such as a stretch of land along a forest or a private beach), but simply don’t have the funds required to go it alone.
By choosing a timeshare, which often allows for a group purchase through deeded property ownership, you are essentially purchasing partial ownership of a property, along with several other people. With all of you owning the property, you all have claim to it, and thus get to share in the enjoyment of it, as well as the expense of it. Some timeshares divvy up usage of the property in a calendar year at random, or by name; others may use some type of points system to assign various slots of time to the owners. Others may simply provide each partial owner with an equal amount of time as every owner has. For instance, a villa that is owned by eight people may be used by each of those eight people for six and a half weeks out of each year.
Timeshare properties such as Florida’s Bluegreen resorts gives vacationers the opportunity to experience a beautiful, scenic, and exciting vacation destination throughout the year. If you love to travel, then choosing a timeshare that is not close by is ideal. You can check out timeshares that are within driving distance, or ones further away that require flying, if you love to take to the skies. Of course, you’ll want to consider the fact that even though traveling to a vacation destination can be exciting, traveling itself can be costly.
Speaking of costs, when it comes to timeshare ownership, one of the nice thing about splitting the ownership with many other people is knowing that no cost will be solely your responsibility to take care of. Of course, there may be maintenance fees and insurance premiums to take care of, as well as yearly property taxes, but generally these are included in the cost of your monthly or yearly timeshare payments.
If you’re not sure if you want to commit to the cost and responsibility required of you for owning a timeshare, consider starting out with renting or leasing. Timeshare property managers realize that purchasing a timeshare is a big commitment, so the option to “try before you buy” is almost always there. Simply ask the property management company or resort company if you can rent or lease a timeshare for a period of a few weeks, and go from there.
The choice to invest in a vacation ownership is a big one, but it’s also a very rewarding one. You’ll have the guarantee of knowing there’s a special vacation spot waiting for you every year, and you’ll have the peace of mind knowing that while the property itself can be quite costly, your individual share is much more reasonable. And, you’ll always have a lovely getaway!