Timeshare is concept that has been around for many decades. The principle is quite simple – instead of buying a whole property abroad you simply buy a share in that property and use it during your allotted time whilst other people use the property for the rest of the year.
The advantages of Timeshare are quite obvious;
- You are only buying a share in the property and therefore don’t have to find the full purchase costs.
- The total costs of running the property (maintenance, taxes, insurance etc) are shared between the owners so it costs you less to run the property.
- A property that is used all year round is less likely to have problems in terms of maintenance or burglaries than one that it always used.
- If you only need a holiday home for a certain time of the year you are not tying up your money in a property that you have exclusive use of but hardly ever utilise.
Since Timeshare was invented and subsequently developed, another advantage has been added on – that you can swap (exchange) your time at that resort for a different resort and therefore don’t need to go back to the same resort if you don’t want to.