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Q. What are the options available for vacationing?
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| A. The options available for vacationing are:
Owning a Vacation Home outright • "Pay as you play"
Hotels & Motels • Camping or Motor homing • Timeshare
or interval ownership, where you receive all the same benefits of vacation
home ownership, but only own what you use.
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Q. What is a Timeshare?
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A. Timeshare is vacation ownership/usage in
which you own certain weeks each year in luxury condominium style
accommodations for Four to Eight people.
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Q. What is the history and evolution of
timeshare? |
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A. Timeshare started in the early 1960s in
Europe, when various families
decided to share in the ownership of a vacation home. Rather than one
family owning the vacation home and only using it for several weeks each
year, it made more sense to share a home with other people. This way each
family owned what they used and shared the upkeep costs proportionally. This
"shared vacation home" concept made its way to the U.S. in the
early 70s. However, rather than vacation homes, timeshare was introduced
to condominiums and resorts throughout the country. Like any other new
concept, timeshare had its growing pains. But it is safe to say that
today, timesharing has become the fastest growing segment of the
hospitality industry. Over nine million American families own their
vacations rather than rent.
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Q. How do Resale's work, and how have they
evolved? |
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A. Resale timeshares are simply timeshare
weeks that have been previously owned and are now up for sale again. In
most instances, the memberships are resold at significant savings over the
original price. The resale market has grown over the past five years and
currently contributes approximately 8% of the annual $9 billion timeshare
industry volume.
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Q. Are resale timeshares inferior to new
timeshares? |
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A. Resale timeshares are not inferior to new
timeshares. In most cases, resale's are identical to new timeshares, but
with prices at 60-70% below original prices.
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Q. What are the benefits of purchasing on the
secondary market? |
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A. When a person purchases a timeshare
through the developer or owner, this person is paying development and
marketing costs. These expenses usually equate to about 60-70% of the
retail cost.
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Purchasing on the secondary resale market
saves you money, because these costs have already been absorbed by the
previous owner. Resale timeshare buyers can purchase the same timeshare
week for considerably less dollars
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Another great advantage of the resale market is bypassing the high
pressure sales tactics that a number of resorts use to sell their
timeshare weeks. Internet listings allow you to browse available
properties and call when you’re ready to buy.
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