Owning real estate in another location is not only exciting, but it’s an investment towards your future. Most families, however, can’t afford an entire second mortgage, so they eliminate the idea of a vacation home. One good compromise for these families is investing in a Timeshare. Timeshares allow you to own a portion of real estate (in the form of time), which eliminates the hassle of hotels and allows you to truly feel at home when on vacation. Like anything in real estate, there are both pros and cons to owning a timeshare, and you should consider both before making any decisions.

PROS

Savings over a hotel – The concept of a timeshare is that you pay a one-time purchase fee and you are entitled to one week a year (sometimes two weeks, or more, depending on the resort). So you may pay $15,000 upfront and enjoy your timeshare for years to come. Some timeshares offer “fractionals,” which allow you to buy more time than the traditional one week stay.

Feels like Home – Many timeshares will closely resemble a hotel and can vary from studios to four bedrooms. Timeshares come stocked with living, kitchen and laundry amenities, which allow you to start enjoying your vacation the moment you walk into your room, instead of walking into an empty hotel room that you’ll need to furnish for the week.

Ability to exchange – The ability to exchange is one of the top reasons a person buys into a timeshare. Many resorts allow you to exchange to another partner resort. You can also purchase a membership with tradition exchange companies if your resort has an affiliation. This is a great option for vacationers, because they don’t have the worry of constantly selling and buying timeshares.

Less Maintenance – Vacation homes can be exhausting; you own a home year-round, that you may or may not be collecting rent on. If not, you’re basically throwing away money every month on taxes, insurance and a mortgage payment. Even if you are collecting rent on your vacation home, that means you’re probably hiring a cleaning crew to clean when tenants move out, plus the rent may not even cover your monthly expenses. Many people worry about buying a vacation home and getting sucked into it, but with timeshares you are only paying for the time spent.

To read more about Timeshares and Cherry Creek homes for sale, please visit PorchLight Real Estate Group.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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