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Here are some of the pros of owning a timeshare:

Timeshares are economical. Instead of buying a property and only using it for a couple of weeks out of the year (while paying for it 52 weeks of year) you only pay for time that you actually use it.

A timeshare takes care of itself. You don’t have to deal with the upkeep of the property as you pay annual maintenance fees that take care of that. Also someone always has an eye on your property if anything goes wrong which is not always true if you own a cottage or a similar vacation property.

A time share is a guaranteed vacation. If you are bad at organizing your vacation days then a timeshare is a vacation destination that is guaranteed to be there one week a year. This can make it easier for you to save for and make plans for your annual vacation.

A timeshare suits large families. If you have a large family then you will suffer less financial and mental stress by simply housing them in a timeshare. You do not have to worry about booking hotels or extra rooms. Most timeshares also have kitchens so you can save on food bills and not have to eat out all of the time.

You can rent it out for a profit. Many individuals make money by renting out their timeshares if they are not able to make their time slot. Some rent out extra times slots and then profit by renting them out to others instead. Many timeshares are also auctioned off on places like e-bay.

You can exchange your timeshare for another. Most timeshares have an exchange program that will allow you to trade your timeshare with another timeshare owner’s unit of time. This allows you to experience different exotic locations and not be stuck in just visiting your time share every year.

You can trade renting opportunities like a market share. Some people invest in timeshares so that they can make a profit by trading it with another time share that is more profitable to rent out. This is true if you are savvy about where the next vacation hotspot is going to be in the world.

Here are some of the cons of owning a timeshare:

Timeshares have high maintenance fees. Many people who buy a time share forget to figure in the cost of the maintenance fees for the place. These fees are anywhere from $200 to $500 a month depending on the location and type of property. They have also been known to rise at a rate of 4% per year.

Timeshares can be bad investments. If you invest in a timeshare that is hit by a hurricane then of course it will depreciate in value. Most retail (new) timeshares depreciate in value by thousands of dollars the minute you buy them as a lot of what is factored in their price are inflationary dollars such as taxes, closing fees and price of agent’s fees. Often they are resold for pennies on the dollar by people desperate to dump a timeshare they can’t get to.

You might be locked into a limiting time share contract. Timeshare resorts do not want you selling or renting your deed too much. Some time share contracts may stipulate that you can’t rent, exchange or sell your place for a certain period of the year or for a number of years.

Your vacation schedule is not flexible. If you do not have a popular time of year or location then you may not be able to exchange your timeshare and be stuck having to visit it every year.

A timeshare involves financial commitment. The concept of timesharing is like a prepaid vacation. If you can’t prepay then you will lose your opportunity to vacation. Timesharing needs a commitment from the owner to pay upfront and also to pay fees on time.

The resale is often at  huge loss. There are so many timeshares on the market that if you need to sell yours, you will most likely have to do it at a loss. If you are carrying financing on the property, you may have to come to the settlement table with cash, or else risk your personal credit.

In summary, if you are interested in a time share, consider purchasing one from someone who already has one. Much like buying a used car, you are not paying for all the initial depreciation on a new purchase. Do some internet research on buying timeshares and for timeshare sales.

About My Services

I believe in providing service to all my clients even after the mortgage closes. If you ever need assistance in dealing with any issues that you may run into, please let me know. Here are some of the ongoing services I can provide you:

• Evaluate any "low mortgage rate" offers you get in the mail or via email
• Assist you in obtaining a home equity loan or home equity line of credit should the need arise
• Help you properly manage the equity in your home to achieve the highest return
• Assist any friends, family or co-workers who may be in the market to buy a home or refinance their mortgage
• Review your credit report with you if you feel you may be a victim to identity theft
• Provide you with names of trusted financial planners or tax planners if you need this type of assistance
• Review your auto and homeowner's insurance to make sure you have the coverage you need and to make sure you are not paying more than you should
• Advise you when you may want to consider refinancing your mortgage based on prevailing interest rates, and your level of debt.

At Your Company Name, we offer mortgages for most buyers, including ones who are self-employed or who have damaged credit. We have lenders who offer 100% financing meaning no down payment for qualified buyers.

We also offer mortgages with start rates as low as 1%, making it easier to get a buyer into a home or use their equity to create an investment portfolio while having a minimal impact on cash flow.

If you know anyone who can benefit from my services, please call my office. Referrals are very important to me and my company.