I am writing to explain what a deeded interval ownership timeshare is and what the difference is between types of timeshares people are selleing these days. I hope this guide helps everyone out there decide which is best for them when they purchase their vacation.
As an old timeshare salesman from when it was big I have done alot of research about what I sold. From what I understand there are many types of timeshares out there such as deeded , lease and the points system. The two I am going to talk about are the two most popular, deeded and lease. Hopefully I can explain what the differences are and can help you decide.
When taking a vacation there are several ways to go. You can go stay with family but family is like fish, after a couple of days they start stinking. You can go camping in a tent (yuck) or a camper but you then have to pay for the campsite,gas and not to mention the camper. Let me tell you I have done the camper thing and it is great for the first year but then when the camper sits in the yard during the off season you are still making $300.00 a month payments. At the end of several years you have all of the memories you created during your vacations and you have a $30,000.00 camper that is worth $4,000. BEEN THERE DONE THAT.
The second way is staying in a hotel. You have different places to go and you don't spend any money until you actually go on vacation. The bad things are this...............
(1) When the Days Inn opened in the 1960s it was called the 7 Days Inn because it was only $7 per night. The same hotel now is around $160.00 per night. Say the avarage price of a room right now is $80.00 per night. You stay for the week, that is $560.00. For the $560.00 you a room, thats it 1 room with two beds and a bathroom. Pretty crammend for a family. Lets say you vacation for 10 years and the price of the hotel never goes up (which is crazy) . At the end of the 10 years you have spent $5,600.00 for 1 bedroom. Other than the memories what do you have? Nothing! you just payed all of that in rent and helped the guy that owns the hotel pay the mortage. Kinda sounds stupid doesn't it!
(2) When you stay in a hotel you don't know who stayed there before you and if you ever watch a maid clean a room ......(YUCK)
(3) Think about who goes to hotels.....hookers,drug dealers,child molesters, etc.........
The third way is TIMESHARE. But there different types so you need to be informed. The two types I'll discuss are leased timeshare and deeded timeshares.
(1) Leased timeshares go like this........... You buy a timeshare for $10,000.00 to $20,000.00 and it is yours for a limited time. It's great because you know you are gong to stay in a nice 2 bedroom 2 bath condo and you know there wasn't any trashy people before you because you are all owners and you take care of what is yours.l At the end of 20 years you have wonderful memories but you still payed RENT to someone so they could pay there mortage.
(2) Deeded timeshare go like this..........Plane and simple, you own it ! You actually get a deed to the property and it is yours forever. When you die it goes to to your heirs, just like your house and land. It is recorded in the county courthouse and you get a deed . You spend the upfront cost and once it is payed for thats it . All you will owe after that is the maint. fees which covers your expenses and taxes and insurance. This guarenties that your family will have the same kind of vacation you have grown accustomed too for the rest of their lives. What you are actually doing is locking in the price of your vacation at todays prices not to mention the price for your children and their children etc...etc...
With a deeded timeshare you also have that sense of knowing that everyone else that owns with you has the same investment. People tend to take care of their investments. On this note I can mention that all of the resorts try to take care of their investments so you don't get the same type of people that stay in the hotels
One more thing is this.................... As an owner, you have your say in everything that goes on at the resort so you know that things will be run as you would run your property
So now you know what to pick when looking for a timeshare so now I can tell you a couple of secrets that I found out when getting the timeshare I own
(1) Look for a resort that has a high exchange rate so you can join RCI and vacation anywhere in the world
(2) Make sure your resort in a resort of international distinction or close. That way you know it is a first class resort
(3) The most important thing I can tell you is this........ Buy the cheapest way you can . Look for foreclosers and people just wanting out for some reason. This way you can get a week that cost $8,000.00 new for alot cheaper. You still get a deeded piece of property for a fraction of the cost
(4) You don't have to buy close to home. If you plan on using it for exchange then you can own across the country. You'll never be there so why buy close to home
(5) BUY CHEAP AT THE BEST RESORT YOU CAN FIND
I hope I have answered some questions and this is useful