Timeshares get a bad rap thanks to the high-pressure presentations. All too often, unsuspecting customers are lured into a presentation with free goodies. After they make the purchase, they realize they’ve dumped thousands into vacations that are difficult to schedule and at less-than-stellar locations.
Fortunately, timeshare owners can cancel their contracts by contacting the team at https://acagroup.org/timeshare-cancellation-letter. Then, they can choose the better product: fractional ownership.
Timeshare vs. Fractional Ownership
Timeshare ownership has been around since the late 1960s, and the original meaning of the product was to purchase a vacation in advance. Timeshare contracts have changed lately, as companies sell flexible time. When it first started, customers would purchase a specific week at a specific resort. Now, people buy weeks that they can use throughout the year at any resort included in the holding company’s catalog.
Fractional ownership is different, as it includes several people who own a fraction of an asset. Property management companies take care of the upkeep, while the owners pay enough to cover the expenses to own and maintain the property.
Vacation Locations with Timeshare vs. Fractional Ownership
People who are part of a fractional ownership share a single property or a multi-unit development. The fraction can be used during a specific time each year.
Timeshare vacations vary based on the organization that holds the contract. In some situations, timeshare owners can only go to one multi-unit development. In other contracts, owners have an entire catalog of properties they can use. However, they are competing for time with the other owners who all want to vacation at the best properties.
Value of Timeshare vs. Fractional Ownership
Both vacation ownership products involve an actual deed. Timeshare ownership often includes owning a small part of large multi-unit development, but as resort developers add more locations, the older sites tend to lose value.
With fractional ownership, the value is determined by the location and the deed. If you own a fraction of a high-end ocean-front property, it could increase in value. But, it might not. Just like any property ownership, the value is determined by what people will pay for.
The true value of timeshares and fractional ownerships involve the time you spend with your friends and family while on vacation. Timeshare presentations never include resale values, instead they talk about the value of memories. Fractional ownership is also designed for vacationing, so it’s always best to consider vacation time as the value of all time-based properties.
What’s Right For You?
Timeshare and fractional ownership isn’t for everyone. If you are dedicated to vacationing in the same location year after year, fractional ownership might be best for you. You could end up getting a return on your investment.
If you want to vacation in a condo with a kitchen, washer and dryer, and other amenities, a timeshare might be right for you. You probably won’t get a financial return on your investment, but you’ll get to choose from a variety of resorts all over the world.