Posts

Advantages and drawbacks of Timeshare

The purchase of a timeshare — a way to own a piece of a vacation property that you can use, generally, once a year — is often an emotional and impulsive decision. At our wealth management and planning firm (The H Group), we occasionally get questions from clients about timeshares, most calling after the fact — fresh and tan from a vacation — wondering if they did the right thing. We’ve also had to deal with clients in financial distress wanting to get out of their timeshare units. If you’re considering buying a timeshare, so you’ll have a place to vacation regularly, you’ll want to understand the different types and the pros and cons. 4 Types of Timeshares First, a little background about the four types of timeshares: 1. Fixed Week The buyer usually owns the rights to a specific unit in the same week, year in and year out, for as long as the contract stipulates. There is predictability, but also little flexibility and the potential for long-range boredom. With a fixed-rate timeshare,
Post a Comment
Read more

Guide to buying your timeshare

Timeshare vacation plans have been around in the U.S. since 1969 — the first opened in Kauai, Hawaii — and they generated $8.6 billion in annual sales in 2015, up 9% from a year ago, according to the American Resort Development Association, or ARDA, which represents many timeshare developments. For some people, timeshares are a good option, and about one out of every 12 Americans (7.9%) owned one in 2014, up from 7.2% in 2012, ARDA says. Timeshares can guarantee you vacation time since they often come with fixed annual dates for right-of-use. On top of that, timeshare resorts typically offer larger accommodations (often two bedrooms or more) and more in-room amenities, such as kitchens and washing machines, than a hotel room. Timeshare owners can also “exchange” their shares for accommodations at other resorts around the world. ARDA says that the image of timeshare owners as elderly seniors playing shuffleboard has changed too, with timeshare owners becoming younger and more ethnicall
Post a Comment
Read more