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Friday, August 21, 2009

What is a Timeshare?

By Larry Evans

Way back, people who have real properties were considered rich. A mans place in the society is determined by how many hectares of land he owns. People of royal descent and the big business men had castles, villas, vacation homes, and farm lands while those who belong to the lowest class in a society did not have any amount of land. This scenario is still very much alive today. A mans riches is gauged by the number of homes and condominiums he has.

Back then, only those who had the money can afford to purchase a house. Nowadays, the cost of top quality housing is cheaper than the yesteryears making a lot of us acquire our very own properties. Now there are property developers who are building low-cost, top quality housing perfect for the entire family. Loans and financial programs abound for anyone who wants to have a house under his name.

There are those who prefer to have a two-bedroom house or a cottage right at the heart of a popular tourist destination to let them be at the center of all fun filled activities. There are varied designs and any location is possible. With this modern-day trend, timesharing gained its foothold to globetrotters and adventure seekers. Timeshare is a method where people can use the home of another person for certain period of time.

This method lowers maintenance costs for the owner would not incur costs in maintaining the property while he is away. The other owner does this in his behalf. Maintenance costs may include household repairs and fees agreed by neighborhood associations where the property belongs.

Many people prefer timeshare for it is easy to do and it is cost effective at the same time. The key to a worry-free timeshare is to draft a good contract and to find a responsible co-owner. There are a lot of resources in the Web that can help you do this, be sure to check them out.

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