What is the difference between condo-hotels compared to timeshares? One thing for certain is the two are not the same! Buyers who purchase a timeshare are an owner of the timeshare with many limits. Buyers who purchase real estate at a condo-hotels are the owner and they receive a deed for the property that they purchased.
There are many differences between condo-hotels compared to timeshares. Look below at the top differences:
- Which One is Better?
Which one is better a condo-hotels or a timeshare? The first thing that individuals think when “Timeshare” is mentioned is a timeshare vacation, but when individuals hear “Condo-hotels”, they are often confused about what it means. The descriptions of the two are similar but deciding which one is better depends on your needs and expectations. For example, for those people who want to purchase real estate, condo-hotels are better, but for those people who want to travel to lots of different places with their membership, a timeshare might be better.
- The Usage when comparing Condo-Hotels and Timeshare
Your usage when comparing condo-hotels and a timeshare is very different. Specific dates and times is the usage that the timeshare will have, which is not a good thing for those individuals who are not able to have the same weeks off from their job each year. The condo-hotel usage allows individuals to have a flexible times. You can use the condo-hotel unit any time you would like. If you are not using the condo-hotel unit, then you have the option of renting the unit out, and the hotel management can do all this work for you. You will be paid for the rental usage and you can use the money for your ownerships costs.
- Timeshare and Condo-Hotel Resale Values
Firstly, it is often advised that a timeshare should not be purchased as an investment but rather as an experience. Unfortunately, when a timeshare owner sells their timeshare they are not likely to make a profit. Purchasing real estate at a condo-hotel however can often offer a great resale value. This is very appealing to vacation buyers, and is why the condo-hotel resale value is generally much higher than timeshare resale values.
Thankfully for individuals that are looking for a vacation property to buy, Condo-hotels are starting to become very popular.
Remember, as a condo-hotel owner you are the sole owner of that condo hotel unit. You will always get priority dates. You don’t compete with any renters, because you are the condo-hotel unit owner.