Timeshares
Created | Updated Jan 28, 2002
A timeshare is arguably the easiest thing to buy on earth, and the most difficult thing to sell.
If you are not fortunate enough to know what a timeshare is, I will divulge the information... A timeshare is born when a group of people get together to purchase something--whether it be a condominium, boat, apartment, cabin, house, etc. Every person wants to own the item, but only use it for a few weeks out of the year. Thus being the case, each person does not think he should buy the entire item for himself, as he will not use it most of the time. So everyone purchases it together and agrees on terms on who uses it when, and how to manage the upkeep.
However, as happens with most things people own, they may one day wish to sell the timeshare. Unfortunately, the persons rarely all wish to do this simultaneously. Thus, a person may choose to sell his "share" of the timeshare to someone else who wishes to purchase only a portion of something.
Timeshares are most often sold to persons who have not yet seen what they are buying into and are lured solely by the price. Analagous to buying a piece of beachfront property in Kansas, a timeshare is something that anyone would love to sell you.
Timeshares are generally considered a bad idea, and the few people that keep the concept alive are as follows:
1) persons who currently own timeshares and hope to all that is hopeful that someone will pay them half what they paid for it
2) persons who want to own something to use on rare occasions at a discount, but do not account for the upkeep and for the diminishing condition of the timeshare, not to mention the inability to sell
3) persons who will buy anything if someone tells them it's at a discount
If you are not fortunate enough to know what a timeshare is, I will divulge the information... A timeshare is born when a group of people get together to purchase something--whether it be a condominium, boat, apartment, cabin, house, etc. Every person wants to own the item, but only use it for a few weeks out of the year. Thus being the case, each person does not think he should buy the entire item for himself, as he will not use it most of the time. So everyone purchases it together and agrees on terms on who uses it when, and how to manage the upkeep.
However, as happens with most things people own, they may one day wish to sell the timeshare. Unfortunately, the persons rarely all wish to do this simultaneously. Thus, a person may choose to sell his "share" of the timeshare to someone else who wishes to purchase only a portion of something.
Timeshares are most often sold to persons who have not yet seen what they are buying into and are lured solely by the price. Analagous to buying a piece of beachfront property in Kansas, a timeshare is something that anyone would love to sell you.
Timeshares are generally considered a bad idea, and the few people that keep the concept alive are as follows:
1) persons who currently own timeshares and hope to all that is hopeful that someone will pay them half what they paid for it
2) persons who want to own something to use on rare occasions at a discount, but do not account for the upkeep and for the diminishing condition of the timeshare, not to mention the inability to sell
3) persons who will buy anything if someone tells them it's at a discount
