Pro: If you can not afford to buy a vacation home, owning a timeshare will allow you to live in the property for the duration of the time that you reserve it for at a lower cost that if you were to own the property.
Con: There are more fees involved then people initially believe. You will have to pay monthly payments, special assessments, and maintenance fees, whether you use them or not. You may also be subject to pay for utilities and property taxes. All of the fees added up can be way more than people anticipate.
Pro: You do not have to deal with the maintenance of the property as that is included in the maintenance fees. In addition, you will also not need to worry about the security of the property aside from major damage.
Con: Timeshares are contracts that will lock you into paying for a specified amount of time. Some are even lifetime meaning that your future generations will also be bound to the timeshare whether or not they want it or can afford it.
Pro: Timeshares offer the opportunity to make profit through subletting as long as the monthly payments, maintenance fees, and special assessments do not cost more than you make from subletting.
Con: Due to the amount of timeshares available, the price of the timeshare a depreciate after you purchase the contract. This means people will sometimes be forced to basically give them away when they choose to sell. In addition, the market for timeshares is limited which means that selling your timeshare could prove to be very difficult.
Pro: Timeshares provide large families with bigger places to stay than a hotel as well as access to a kitchen and common areas to relax and spend time.
Con: Maintenance fees will appreciate every year meaning every year the amount you will pay for your timeshare will increase.
Pro: If you prefer to vacation in the same spot at the same time every year, a timeshare can take the hassle out of planning a vacation by eliminating the need to deal with booking or availability because every year the space will be reserved for you at the times you specify.
Con: Some resorts will misrepresent the availability of the timeshare which can make booking the timeshare more difficult.
For all of your real estate needs, please contact the Hornburg Real Estate Group at Keller Williams Realty at DallasFtWorthHomeSearch.net or (817) 264-7087.