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al | Is it good investment to buy vacation house (Time share unit)? |
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Jules
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NO. They are NOT investments. You are basically just purchasing the rights to use. All i've heard is horror stories about them. Plus you can never recoup the cost of time-share unit (not at investment since investment usually appreciate or generate cash). |
|
.·:*RENE*:·.
 |
It's a good investment if you intend on using it often. You can save quite a bit of money on vacations.
If you are buying to resell, than no it is not a smart real estate investment. You can easily sell a time share unit... there is always someone looking one... but don't expect to profit from it. |
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Amber P
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Only if you plan on taking at least 2 vacations a year for the rest of your life at the exact same spot every time will it ever pay for itself. |
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alandicho
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I would not recommmend it. |
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sunshine_today
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No, timeshares suck. there are a lot of owners out there trying to unload their timeshares, look for those and don't buy directly from the developer. |
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Thin Kaboudit
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Time shares are not a good "fiscal" investment, but are a great idea if you want to spend the same two weeks every year in a spot you like without the cost of a whole second home.
But you will never make money from a timeshare! |
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Stephen Newman
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If you like to take 1-2 week vacations a year then I would reccomend it. But not as an investment! When you buy a time share you are buying a 1/52 share in a unit. This will give you a spot for your vacation for the rest of your life. You can sell it, will it, lend it, or even give it away.
Here is what I looked for when I bought my weeks (incidentally, I have only stayed at the location that I bought it once).
You will need to look at the trading organization(s) Interval International (aka II)or Resort Condominiums International (aka RCI) are the largest ones. This will allow you to effectively trade the week you own allowing someone else to use it while you will use someone else's week somewhere else.
You can go to
http://www.intervalworld.com/web/cs?a=1500 or http://www.rci.com/RCIW/RCIW_index?body=RCIW_rdMain
to get an idea as to where the resorts in question are. Some of the major hotel chains also offer them.
The other major factor to examine carefully other than the price is the maintainence fees. This is an annual fee that can get quite steep.
One other tip that I will impart to you is, if you go on one of these "free" trips to check out the resort and sit through a 30 minute seminar, if you really want to buy a timeshare hold out until the deals get better and better. you'll see..
Above all I would not consider this an Investment but a way to spend a vacation in a townhome or condo instead of a hotel.
Good luck. |
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Oh Boy!
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No, they tend to be TERRIBLE investments. You don't get the advantage of depreciation and if you want to sell there is no secondary market. |
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lsenn
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Time shares are never a good investment. You can only use them for a certain time each year, and the upkeep payments on them are not worth it. When you go to sell them, you never get the price you paid. In the long run you'd be better off renting places in different locations each vacation. You aren't locked into one place that way. |
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