INTRODUCTION:

Timeshare is worldwide vacation ownership/usage in which you own certain weeks each year in condominium style accommodations. There are different types of timeshares available to match your personal vacation style.

Maintenance fee A maintenance fee is an annual charge, on top of your initial purchase cost, that goes toward the upkeep of your timeshare. Your maintenance fee usually covers property taxes, insurance, utilities, cable, telephone and all property upkeep, such as furniture, carpet and the resort's common facilities. The resort's Homeowners Association usually decides upon the fee. On average, you can expect this fee to increase by about 2-4% annually.

Transfer Fee A transfer fee is what resorts charge to transfer the ownership from one party to another. This fee applies directly to resale timeshares. Transfer fees are determined by the resort and vary.

Recording Fee As in all deeded properties, the recording fees are the nominal costs associated with the county from which the deed is being drawn. It is the county to which the timeshare resort is located.

Assessments If a resort's maintenance fee does not have a built in reserve fund for replacement and or major repairs, the timeshare homeowners association may reserve the right to charge a special assessment in the event improvements or repairs are required.


Timeshare ownership creates substantial savings over renting and provides superior vacation value. You'll usually pay more for a hotel room than what it will cost you to stay in your timeshare. Instead of paying for a room, however, you'll receive a fully equipped spacious vacation villa, which generally will include kitchen, living room, bathroom, one or more bedrooms and a private balcony or patio. Some even come with hot-tubs and fireplaces. Also usually included are towels, linens, TV's, VCR's, kitchen utensils and maid service.

By pre-paying your future accommodation expenses at today's prices, you are saving on the higher cost of future vacation lodging. Take the money that you would spend anyway on renting a hotel room and put it towards ownership. Owning a timeshare is like owning an affordable vacation home that's used efficiently! Unlike owning a year round vacation home (typically used less than three weeks a year), owning a timeshare allows your investment to be made in as little or as much time as would regularly be used. The ongoing year-round personal obligations of home ownership are also eliminated and expenses like maintenance, utilities, taxes, insurance and housekeeping are reduced to the time owned, which are covered by the resort's annual maintenance fee.

A Timeshare Basics downlable booklet is available at TStoday for TStoday subscribers only.