In the present unstable economic times, many investors are looking for ways to diversify their portfolio so that risk can be distributed among different investments. One of the best investment options is timesharing, which will serve as both as a holiday vacation package and real estate asset. The timeshare industry first was originated in Europe in the 1960's. Timeshares, also known as "vacation ownership", "holiday ownership", and "interval ownership," are forms of ownership whereby a group of people share the use of a property by dividing rights into specific lengths of time that can range from five to over 20 years. This means the buyers can use the property for certain period every year for the duration of the contract. This program applies to condos, campgrounds, recreational vehicles, boats, planes, luxury cars, and cruises. Timeshares allow owners to purchase a fraction of the vacation property of a trust that owns several holiday resorts. The buyers of timeshares have to pay a lump-sum amount for owning the holiday package and a prescribed annual fee for cleaning, insurance, and local fees. They can even exchange their timeshares of one resort with others within the same timeshare organizations by paying an exchange fee. People looking to buy a timeshare have to keep several factors in mind, including location, price, flexibility, and their lifestyle and recreational preferences while purchasing timeshares. At present, the timeshare industry includes nearly 6,000 resorts worldwide like Walt Disney World, Marriott, and the Four Seasons with timeshares sold to almost 7 million families. This particular industry is generating around $9 billion annually. The modern timeshare industry is expanding with new franchises of timeshare companies and condo hotels in Europe, Asia and the U.S. Timeshares are an inexpensive way to own and enjoy prime real estate. |
