Timeshares- Is this a good choice?

Time Shares- is this a good idea or not? Always do your due diligence, and make sure you understand the financial implications that come with this type of ownership. Does it make better sense to rent a hotel room if you plan on regularly frequenting a vacation destination or not?

The Disadvantages:

• You will be required to use the property at a fixed time and period. If your are unable to use the property during your specific period of time, the share could be rented or possibly banked if allowed.

• Timeshares do not appreciate, and may be difficult to resell.

• They require to be maintained to a certain standard inside the unit, so wear and tear will be a concern. Who are you sharing with?

• There are maintenance fees and special assessments that will occur, and for which the owners is fractionally responsible. Assessment costs are generally an unknown number until they are assessed- be on the look our for any surprise charges or fees. See management documents to make an educated assumption based on historical accounting records. Do the math.

• Having to deal with unethical individuals and scams. You do not have to be licensed in New Hampshire to sell time shares, so these individuals are NOT held to the same standards as a real estate agents. They can and often do tell you what you want to hear and not what you need to know.

• Your time period is not flexible, unless you have a floating week timeshare.

• You do not build equity, however, one could generate some income if renting the share is permitted. Some timeshares can be exchanged or banked with other participating exchanges; there may be charges for this, membership, exchange fees, etc.

The Advantages:

• Guaranteed vacation at a resort facility, and use of all facilities; however, some services are not included, (i.e. spa services, ski lessons,) services such as these will likely be a la carte.

• No need to dine out for the entire vacation, you will have a kitchen and be able to prepare your own meals in a home-like environment.

• Access to Laundry facilities and possible on-site storage if available.

• No charge for bringing friends along, or extra charges that could occur in hotel situation. Long-term savings over hotels and less maintenance of a second home.

• Potential to generate a small amount of income. Pay only for the time that you use the property.

• Lower upfront costs but a timeshare cannot be traditionally financed.

• They are already decorated, but it may not be to your standard.

In the end, one must decide for themselves. Is this the right situation financially, and is it the best choice from a recreational and time frame standpoint?