When you buy into a timeshare, what you’re purchasing is a right to a given condo or resort property that allows you to use that property for a certain time during the year. You might own a timeshare that gives you the right to use a room at a resort for a week in May. Outside of this window, other people have rights to the place.
Timeshares are a popular way of nailing down vacation homes in good locations without the need to buy or rent a house that might only see use for a few days in a year. Three-million people enjoy their timeshares in the USA and seven-million worldwide own one. Given that timeshares are usually vacation homes, they pop up near resorts, yearly sporting events and tourist areas. In Tempe, many timeshares are near the golf courses and Tempe Town Lake.
A timeshare gives you access to a vacation property in the same town, at the same time, every year. If you have family in the area whom you enjoy visiting or a traditional vacation spot, this can work out great for you. In particular, sporting events, golf tournaments and spring training all happen on the about the same days each year. If you’re a fan, it could be worth doing to find a timeshare near your favorite event.
A Local Timeshare Can Take You Around the World
Owning a timeshare opens up several new options. The most important of which is that you may be able to trade your rights with someone else. This allows you to vacation anywhere in the world, so long as you can find someone else with the same time window. Timeshare owners can trade like this among themselves, or they can use one of the services that exist to assist in these trades. If your timeshare is in a resort, you may be able to trade those rights directly with the resort company to visit any of their locations in the country or world.
There’s Always a Price to Fit Your Budget
In Tempe, timeshares can be found at any price range. You’ll find that shares during the summer months are less expensive than other times. The winter months tend to be the most expensive, as crowds are drawn to Arizona by the mild winter climate. The price of a timeshare usually doesn’t include any monthly or yearly fees and dues, such as those for maintenance or property taxes. You will have to pay these as well. Before you buy a timeshare property, be sure to learn about all the fees and extra expenses in advance.
Investors are cautioned to stay away from timeshares. While they can be convenient and fun for vacationing, very few timeshares hold their value or appreciate. The market is saturated, since every new condo is, potentially, fifty-two new shares. You may, however, be able to rent out your share if you don’t plan on using it in a given year. This can help recover some of the costs involved. Whatever your choices, a timeshare unit is a vacation destination, not an investment.