Orange Beach Condos for Sale vs. Timeshares
Author : Junonia Beach Resort
Orange Beach in Gulf Shores was a vacation hotspot known to local for many decades. However in the recent years, real estate in the area has increased drastically and you’ll see several Orange Beach condos for sale. If you want to own one, yet, your budget still doesn’t fit to the price tag of getting your own unit, you still have another option – timeshares. A concept that has originated in the UK, timesharing means a property (usually in beach condo resorts) is shared by multiple individuals and has the right to use it for a certain time of the year, intended for vacation purposes. You can find many timeshare offers in Orange Beach and prices differ depending on the condominium or resort.
You simply buy a share, pay for annual maintenance fees and you have a week or months’ worth of stay. The duration of your given accommodation depends on the share size you have. It’s a cheaper option, as compared to buying your own condo. Tempting, isn’t it? It’s given, you are ensured to have an accommodation yearly at a certain resort, but to tell you- it’s not really that advantageous! Most investors advise not to take timeshares because of its limited ownership rights and high administrative fees. As an alternate, they’d rather advise to choose from the various Orange Beach condos for sale. Timeshares may have its perks but take a look at the following:
- Vacation time. You can only use the property for a week or a month, and it’s same time every year. Is it okay for you to go back on the same vacation destination every year? If you’re not satisfied with this arrangement then timeshares won’t work well for you.
- Annual fees. You’re made aware that you have to pay annually, but bear in mind that the value you have to pay depends on the season. It’s a fact, you’ll be charged higher annual fees if you pick the peak season, which is most often, the time where you and everyone goes on vacation.
- Maintenance fees. Timeshare holders are charged with maintenance fees yearly. Should the resort aim for changes and improvements, you have to ready your wallets for you are going to be charged of that too. Rather than buying timeshare, get one of Orange Beach Condos for sale. That way, you only have to pay the bills and fixed monthly associated dues for maintenance of the building.
- Flexibility issues. Same time and same place each year, is that good for you? When buying, it’s tough competition to get the time you want. They have addressed this concern by suggesting time swap with other timeshare owners, but the problem is, how easy is it to look for a willing trading partner?
- Reselling value. Prior to buying, buyers are usually told of the profit they would make should they intend to resell. Unfortunately, with the unpredictability of the present economy plus the big number of timeshares being sold- creating profit is uncertain. Apart from that, timeshares are very tricky to sell. It depends on the management and the contract you’ve signed up with. Instead, choose Orange Beach condos for sale, and once its paid, you have full rights in reselling the unit.
These are just few of the downsides of buying a timeshare. If you compare with the option of buying a condo unit, it still shows more advantages. Take this reminder, timeshares are intended as vacation accommodation, which is not like buying a condo, which is a sound investment.