Time At The House Is Allocated By Lottery

These questions determine what investing in a vacation home or timeshare will mean to you: How many weeks can you actually use it? Deeded Ownership v.

Do your own the property or just get to use it? Timeshare. Who takes care of the property? When do you get to use it? What is the monthly maintenance cost? Can you deduct your investment in the property? Do you share in the profit from any resale?

Can you really afford, or do you really want to afford to buy the whole property? Love to ski and longing to actually own a mountain home? Can you afford a luxury million dollar home or do you have to settle for a condo? 1 Will you get a profit locked in when you buy the property? Or have you always wanted to be able to enjoy the mountain climate and lifestyle during the summer months? Not enough vacation to justify owning the house? - You hate maintaining your own house and dread the thought of having to take care of a second house. - Your pocketbook can' t afford the house you would really want? - You want a house with room to invite friends not a condo that doesn' t really have enough room for your own family. - You realize timeshares are not a real estate investment and only make the timeshare seller rich? - The maintenance costs of a second home scare the you know what out of you? But: - You can only get there for two to four weeks per year?

Ask yourself the questions above before you take any action to achieve your dream. You should be able to buy the amount of the home you can actually use. A mountain vacation home should be that dream. It should be a real estate investment that builds equity for you, not a cash drain. You should be able to go fishing or skiing without having to worry about the home when you get there or leave. You should be able to have someone else deal with the maintenance and cleaning.

You should not have to worry about the home when you are not there. Not exactly what you had in mind? All you can find is 2 bedroom, 2 bath condos for over$ 300, 000 plus the cost of running and maintaining it every month? Why not buy more house than what you can afford but pay less than you would for the condo? Would you prefer not to worry about the maintenance? You want to own the house with a deed but why not just pay for the amount of time you can actually use at the house?

Would you prefer to just lock up and leave when you go home? You could of course buy the house all by yourself. How to own a luxury, over 4000 square, six bedroom foot$ 1, 200, 000 home. You would pay$ 240, 000 down and have a 30 year mortgage for$ 960, 000Your payments would be$ 6, 3800 per month. You would though have a luxury home instead of a condo that really isn' t big enough and is not what you really want. You would also have to pay the taxes, utilities, insurance, and maintenance. However, since you can only use your house two to four weeks a year, just buy the piece of the house you can use.

So how much would you pay to own two weeks? $300, 000 to own a condo? $200, the cost to, 000 own a luxury timeshare for two weeks? You can even use your house at other times on a space available basis. Buy a luxury home instead. Want more weeks, buy another share. Properly structured, you can buy your share of a house for$ 50, 000 to$ 80, 00Use it for at least two weeks and space available the rest of the year. Just pay your share of the taxes, utilities, insurance, and maintenance. Just renting a house like that will normally run$ 800 per night or$ 11, 200 for two weeks per year or IF you could pay monthly, $933 per month for just those two weeks.

Those costs will run about$ 400 per month. But by buying, you also get the appreciation in value of the house and if the house is also rented, your investment could be eligible for depreciation and deductions for the upkeep payments. You can donate your time to your favorite charity for auction. Your interest in the house can be sold, willed to your family, or gifted to your family. You can actually own the house for two weeks for less than you could rent the house for one week! A house like these luxury homes rents for at least$ 800 per night. Trick Question: Is it better to pay$ 5, 000 annually plus maintenance for at least two week's use( and not worry about the house when you aren' t there) or rent the house for$ 5, 250 for one week rental?

One week's rental would be$ 5, 250If you finance the whole$ 50, 000, your payments will be about$ 5000 per year. If you buy, you own the house and you have the memories of at least two weeks. If you rent, your money is gone and all you have is the memory. What two weeks do I get? Your pick is determined by when you buy. Time at the house is allocated by lottery.

Holidays are rotated so that everyone gets an opportunity. No more that 20 shares should be considered in any property.