Looking to own a property in Guadalajara but will not be using it most of the time? A timeshare is one of your options. Buying a timeshare is one way of experiencing the delights of this culturally rich city without the heavy price tag of ownership. Low maintenance rates, maid service and activities usually come with it.
A timeshare is an arrangement where the purchaser receives an interest in a real estate property and the right to use the accommodation or amenities or both for a specific period on a recurring basis.
Timeshares allow families to purchase a fractional share in a vacation property. It is usually one week per year (1/52 share), one week every other year (1/104 share), or four weeks per year (1/13 share). Some are sold as fractional ownership in a trust that owns one or more resorts.
“Special Packages” are sometimes offered by companies to entice the customer to participate in a vacation timeshare presentation that usually lasts a couple of hours. This is an excellent opportunity to stay and experience a property that is being offered for purchase.
Purchasing a Timeshare
A Guadalajara timeshare is a big investment not to be taken lightly. Make sure you do your research before signing. Location, price and amenities are usually the most important things to consider first.
NOTE: banks do not grant loans for timeshare properties so be prepared financially.
Renting Out Your Timeshare
If you are unable to use your Guadalajara timeshare, some contracts will let you exchange dates and locations for your preferred time. However, if this is not possible, you may be able to rent it out completely. Check with your property consultant.
Renting a Timeshare
If you can not afford to buy a timeshare, renting one is another good option. You will only be responsible for the expense of the time you will be using it and have the added convenience of being able to choose from a variety of places to stay.
5 Things You Need to Know Before Purchasing
1. Do your research on the web and figure out the location and price.
2. Make sure you understand what is included and not.
3. Use a licensed real estate broker that specializes in timeshares.
4. Have a licensed attorney look over all the documents.
5. Make sure you understand everything in the documents before signing.
Timeshares are usually offered in big resorts and condos with most amenities included. After youʼve made your decision to purchase a timeshare in Guadalajara, you are on your way to experiencing the vast culture and natural beauty of this Mexican city.