What exactly are timeshares, and how do they work?
According to Yahoo! Reference, a timeshare is a joint ownership or lease of vacation property by several people who take turns occupying the premises for fixed periods. Timeshares aren’t deeded real estate, but are more akin to club membership. Timeshare “owners” lay claim to specific weeks during the year. The costs of these weeks vary with popularity. For instance, on Cape Cod, a sunny, summer week will cost you more than a brisk October respite. Timeshares work in a number of ways. They are often condominiums or apartments in popular vacation areas. Management companies maintain them and sell weekly lots. Timeshares aren’t generally considered good real estate investments due primarily to their low resale value. They’re usually billed as an alternative to future vacation costs. Those thinking about joining the club will want s
