Timeshare?
I'm asking because my brother owes us money, which will take a few years to be paid. He said he will give us his timeshare for the rest. The timeshare is in Kissimmee Florida. I'm interested, if it can be used elsewhere. Dh says no because when we go on vacation we like to go to new places. |
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| I'm not sure how the value of Timeshares work, but just be aware that the value of property has really taken a plunge in Florida. |
| Every property is different so be sure to check out all the timeshare terms for the specific property he wants to give you. Chances are good that your brother is trying to get out from under something that's a burden on him. Be sure to understand that timeshares are not investment property and if you need the money, hold him to paying it back to you. If you are having doubts about whether you would use a timeshare, chances are you won't. Transportation from WI to FL isn't cheap and if you don't use a timeshare once a year there's not much point in having it. Family friends had a timeshare in Florida and got tired of it after awhile. You guessed it; they lost a lot of money getting out from under it. They still talk about how badly they were ripped off. Neighbors have a timeshare plan that includes properties all over the country. They are financially comfortable, know it's not an investment and actually use every week they are allotted and go to a different destination every year. It makes sense for them. The value of a timeshare just depends on how much you use it and whether you enjoy it. |
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