What Is A Timeshare? Is It Worth It?

timesharingMost people have heard the term “timeshare.” What they may not know, however, is exactly what a timeshare is. Are they a good deal? Are they a scam? Here are the pros and cons of owning a timeshare.

What Is A Timeshare?

A timeshare is nothing more than a way for a group of people to be able to own a piece of a vacation property. They are usually condos in a resort setting, but they could be any piece of real estate in theory. Those who invest in a timeshare will “buy into” a particular time frame where they are allowed to use it as they wish within the contractual rules. Before signing a timeshare contract, it is a good idea to have a real estate attorney Glendale review the contract first.

Benefits Of Timeshares

For those who like to vacation in the same spot at the same time every year, timeshares can be a wonderful opportunity. There is a certain comfort in knowing exactly what you will be getting every year when you go on vacation. If you cannot use it during a particular year, most timeshares offer the ability to let friends or family stay there. Make sure to consult a Glendale real estate attorney to ensure this is an option.

Drawbacks Of Timeshares

If you are the type of person who likes to vacation in a different place every year, then a timeshare is not for you. There are also costs to owning the property such as taxes and maintenance fees for which you will be partially responsible. A Glendale real estate law firm may be able to suggest a better option for your vacation needs.

If you have already signed a contract without fully realizing what you were getting into, contact Minassian Law Group. They can review the contract and offer possible solutions.