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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. 

We’ve found some articles that may contain interesting information for your search. Below, you will find links and short summaries. Browse away, and remember, discuss any major changes or decisions with a legal or real estate expert before you make them! 

Can I get a Tempe Mortgage in Today’s Market? 

We’ve heard all the bad news day after day on the evening news programs. Many prospective new home buyers are beginning to wonder if they can get a mortgage at all. Fear not! There is a silver lining of this dark foreclosure cloud. New home buyers may find that real estate in many areas is somewhat more affordable than it might have been 3 years ago. Further, though the rules may have toughened up some, lenders are still making new mortgage agreements and houses are still selling. In short, you can still purchase a home in Tempe, Arizona. 

Find an Honest Lender to get a Good Mortgage 

We’re learning the price of not asking enough questions or paying enough attention to the financial details when buying a home. Unfortunately, there will always be a few bad apples and you will want to be able to recognize them. Look for misleading advertising or claims that the company’s interest rates are tied directly to federal interest rates. 

One good way to avoid getting ripped off is to go with a local vender. Ask lots of questions and look for referrals from your friends, co-workers and family.  

Should I Purchase my New Tempe Home Before Selling the Old House? 

Realtors can tell you that this question is asked not only by Tempe, AZ home buyers, but all across the U.S. The answer, as is the case with most complicated questions, is “it depends.” Think about your budget and financial situation. Can you afford to make for two mortgage payments for several months? Will your lender even approve you for another loan? What is the likelihood that you will be able to sell your old home quickly? 

Are ARM Mortgages ever a Good Deal? 

ARMs, or Adjustable Rate Mortgages have received a lot of bad press lately. This is often because people who received these types of mortgagees were not fully aware of the details of their loans. However, there are perfectly good reasons that some people choose ARMs over more traditional Fixed Rate Mortgages. 

If you plan to stay in a home less than five years or are very sure that your income will rise very soon, it might make sense to look at an ARM.  

Investment in real estate is a hot topic. Prospective Tempe home buyers may wonder why, in this new market, investment is such a good idea. However, over time, properly researched property tends to make money for its owners and many investors are seeing lots of opportunity in the current market. 

Of course, research is important. You want to get experts to check out the background on the title, inspect the property and look into issues like zoning and utilities. Remember, while real estate investment can be a great thing, you want to do your research and go in with your eyes open. 

What Tempe Investors need to Know 

Too many beginning investors jump right in without a plan. Unfortunately, they learn the lessons of what they should have done too late. Planning completely and ahead is the first sign that you are on the right track. Realizing that investment is ongoing work and building up a team of experts are others. 

Smart investors in Tempe and elsewhere know that they have to keep track of their budgets. When emotions get in the way, homework and preparation are often forgotten and mistakes are made.  

Should I use an Agent when Investing in Tempe Homes? 

Real estate investors can use an agent or realtor to find, and help the process of buying, property for investment purposes, or they can do the investigative work themselves. Both options have pros and cons that a new investor may do well to take the time to understand. 

A realtor can find you a great many properties. Often, they have insight into the market that you may not. After all, an experienced Tempe realtor is likely to know a great deal about the neighborhoods and trends in Tempe or even Maricopa as a whole. They also know the product and can help you find other experts to complete your team. However, a realtor is paid to help you. The commission they earn comes out of your investment, so you may earn less on any particular deal.