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Kyla Brooke, Vanguard PropertiesPhone: (707) 481-0098
Email: [email protected]

Owning a Timeshare Home

by Kyla Brooke 01/13/2021

Image by Steve Heap from Shutterstock

If you love vacationing at the same place every year you may consider investing in a timeshare property. This can often help control vacation costs and planning time. However, owning a timeshare home may not be not the right choice for everyone. It is important to understand that a timeshare is not like other real estate because you do not own the property yourself. Carefully consider what that means before signing a timeshare contract.

Should You Invest in a Timeshare?

Timeshare properties are homes that are co-owned. Similar to condominiums, the units usually have several rooms that allow more than one family to share the space at the same time. Each owner has the right to use the home for scheduled periods each year. If you are considering a timeshare investment, here are the advantages and disadvantages associated with owning such property. 

Advantages

  • You have a vacation home every year: If you own a timeshare property, you save some vacation planning time each year. You won’t have to deal with booking hotel arrangements or spend time determining a destination.

  • Scheduled time: If you vacation during the same timeframe every year, this is a great option because you won’t have to worry about having good accommodations available to you when you want to use them.

  • Cost-efficient: When you calculate how much you spend on hotel bookings whenever you go on vacation, you may realize it is more cost-efficient to buy a timeshare property. 

Disadvantages

  • Your vacation is restricted: Owning a timeshare property makes it difficult for you to vacation whenever and wherever you’d like. If you like to visit new destinations or vary your vacation weeks each year, a timeshare may not be the best fit. 

  • Additional expense: If you opt to exchange the timing or destination of your timeshare stay, you may meet with considerable fees during the process. You may also be billed for routine maintenance, utilities, taxes, and other fees related to the timeshare complex itself. 

  • Difficult to sell: It is often difficult to sell a timeshare if you decide you do not want it anymore. You might end up selling at a loss as timeshare value tends to depreciate over time.

Before investing in a timeshare home, weigh your cons against your pros to determine if it is the right decision for you. You might find it just as cost-effective to purchase a vacation home in your favorite location that you own outright. In some cases, you could even rent it out to other vacationers when you’re not using it to help pay for the mortgage. Contact your real estate agent for professional advice on buying the right vacation home for your situation.

About the Author
Author

Kyla Brooke

Since 2005, I have been helping clients find dream homes and investment properties in the Russian River area of Sonoma County. I am also serious about affordable housing, and understand the issues related to life transitions. With Russian River Home Sales my intention is to reach out to those who wish to achieve their dream — of buying or selling a home — in the Sonoma County area.

My life’s work is about making sure that you can have the greatest quality of life possible. I am here to provide you with the professionalism and integrity needed to ensure that you feel secure in what can be a big decision in your life.

I’ve helped individuals; families, couples and investors sell and purchase properties in Sonoma County for years. Whether you’re buying, selling, investing or just doing research, you’ll need an agent who understands technology, integrity and teamwork. More importantly, you’ll want an agent who understands you and your goals. I combine this with the area’s unique market-knowledge. I have excellent negotiating skills. This enables me to team with you to get you the optimal price for any property you plan to sell or buy. 

Please feel free to use my website as a resource for all your Russian River and Wine County real estate needs. If you have any additional questions, don’t hesitate to contact me today. As a top agent in a unique market, I look forward to working with you.