Reminders before a Timeshare Investment

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Reminders before a Timeshare Investment

Posted On : Jan-11-2011 | seen (277) times | Article Word Count : 513 |

With life’s little annoyances, it only seems fit to enjoy a much deserved break from time to time. Clever people understand the importance of planning their vacations long before they actually go out for one. However, even more clever individuals understand the importance of buying a timeshare to make sure that they get to have a peace of mind somewhere in a piece of paradise.

The following is a sort of checklist or collection of guidelines for what to keep in mind when picking out a timeshare:

1. Before you make your purchase, you have to understand first the different types of timeshare. There are generally two types of timeshare. A floating time agreement offers flexible schedule when you can use your timeshare. And since this is the more preferred option, reservations may be only on a first-come, first-serve basis. This type is considered a leased timeshare wherein as soon as your lease expires, you no longer have the rights to the property. A deeded plan, on the other hand, is when you actually buy a piece of real estate property, share it among owners and use it accordingly to the timeshare agreement. Sometimes called a fixed unit, deeded timeshare allows you to own a particular timeshare (which, in most cases, lasts for 1 week) at a particular time every year.

2. Research and do your homework on the location of your timeshare. While you are at it, you might also want to check out prices of other alternative accommodations in that place. If an alternative costs you less, then there is no point buying a more expensive timeshare. But then again, consider your comfort as well. For example, what if the alternative accommodation might not provide you with the same comfort as the timeshare accommodation? In the end, it is up for you to decide whether it’s cost over comfort or the other way around.

3. Understand your timeshare rights before you make your purchase. Generally, timeshares are governed by legal documents known as Covenants, Codes, and Restrictions. Make sure that you get acquainted to these documents, so you know how the timeshare properties are being managed and what your rights are as an owner.

4. There are some who might think that the cost of purchasing the timeshare property is the same as the cost of buying the whole thing outright. This is not the case. The ownership is partial and the cost of it is much lower, but there are other factors to consider. These include maintenance fees, mortgage payments, real estate taxes, and other charges that may be applicable, depending on the property itself and the company managing it.

5. Read and evaluate the documents thoroughly before signing. When you sign the papers, it means that you are agreeing to the terms and conditions, so make sure that you understand everything. For example, don’t accept unfurnished properties if you do not want to spend more. It is better if you request everything in writing, so you can have proofs of your agreements.

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<h1>Reminders before a Timeshare Investment </h1> Author: <a href='http://www.articleseen.com/profile_Alfred Hinkley.aspx'>Alfred Hinkley</a> With life’s little annoyances, it only seems fit to enjoy a much deserved break from time to time. Clever people understand the importance of planning their vacations long before they actually go out for one. However, even more clever individuals understand the importance of buying a timeshare to make sure that they get to have a peace of mind somewhere in a piece of paradise.

The following is a sort of checklist or collection of guidelines for what to keep in mind when picking out a timeshare:

1. Before you make your purchase, you have to understand first the different types of timeshare. There are generally two types of timeshare. A floating time agreement offers flexible schedule when you can use your timeshare. And since this is the more preferred option, reservations may be only on a first-come, first-serve basis. This type is considered a leased timeshare wherein as soon as your lease expires, you no longer have the rights to the property. A deeded plan, on the other hand, is when you actually buy a piece of real estate property, share it among owners and use it accordingly to the timeshare agreement. Sometimes called a fixed unit, deeded timeshare allows you to own a particular timeshare (which, in most cases, lasts for 1 week) at a particular time every year.

2. Research and do your homework on the location of your timeshare. While you are at it, you might also want to check out prices of other alternative accommodations in that place. If an alternative costs you less, then there is no point buying a more expensive timeshare. But then again, consider your comfort as well. For example, what if the alternative accommodation might not provide you with the same comfort as the timeshare accommodation? In the end, it is up for you to decide whether it’s cost over comfort or the other way around.

3.	Understand your timeshare rights before you make your purchase. Generally, timeshares are governed by legal documents known as Covenants, Codes, and Restrictions. Make sure that you get acquainted to these documents, so you know how the timeshare properties are being managed and what your rights are as an owner.

4.	There are some who might think that the cost of purchasing the timeshare property is the same as the cost of buying the whole thing outright. This is not the case. The ownership is partial and the cost of it is much lower, but there are other factors to consider. These include maintenance fees, mortgage payments, real estate taxes, and other charges that may be applicable, depending on the property itself and the company managing it.

5.	Read and evaluate the documents thoroughly before signing. When you sign the papers, it means that you are agreeing to the terms and conditions, so make sure that you understand everything. For example, don’t accept unfurnished properties if you do not want to spend more. It is better if you request everything in writing, so you can have proofs of your agreements.About the Author: <a rel="nofollow" href="http://timesharepages.com/scam-watch">Timeshare rip-offs</a> are very widespread nowadays. Always make sure that you are dealing with a credible company so as to avoid any unnecessary stress on your end. Article Source: <a href='http://www.articleseen.com/Article_Reminders-before-a-Timeshare-Investment_48114.aspx'> http://www.articleseen.com/Article_Reminders before a Timeshare Investment _48114.aspx</a>

Article Source : http://www.articleseen.com/Article_Reminders before a Timeshare Investment _48114.aspx

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Timeshare rip-offs are very widespread nowadays. Always make sure that you are dealing with a credible company so as to avoid any unnecessary stress on your end.

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Category : Business : Business

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