Here you will find out about all the subtle and obvious differences between a timeshare and a condo-hotel. If you are thinking about purchasing a unit at a condo-hotel, then you should read on…
What the main difference between timeshare and a condo-hotel?
Many people think that condo-hotels and timeshares are the same, but they are not! If you are a timeshare owner, then you are limited to when you can actually use the timeshare, and condo hotels provide you with a deed and title to the property and you are the sole owner and have many more rights.
Timeshare or Condo-Hotel?
Which is better a timeshare or a condo hotel? If you are wanting to buy a vacation property, then the first thing that people think of is “Timeshare”. Many people understand what is involved in buying a timeshare. A term that many people don’t quite understand is “Condo-Hotel”.
Timeshare and condo-hotels are very similar; however, when you purchase a timeshare, then you are an owner of vacation time in a particular property or group of properties, whereas, when you purchase at a condo-hotel, you can actually purchase real estate and be the sole owner or fractional owner of the property. Just because the two have very similar descriptions it doesn’t mean they are the same. Actually there are many differences between a timeshare and condo-hotel.
More recently, condo-hotels have come to be very popular and are in big demand. If you are wanting to purchase a vacation home, then you now have many different options and choices. How can you choose if a timeshare or condo-hotel is best for you to purchase? You may be surprised to know that condo-hotels have many more benefits and features.
Condo-Hotels and Timeshare Usage
If you purchase a timeshare, then that is what you will get: a share of time! This means you will be given a time and specific dates that you can use your timeshare, and you also will be able to only use a specific resort with the resorts’ network. This may be difficult for many people, because you may not be able to take vacation time at the same time each year.
Purchasing a condo hotel will allow you much more flexibility.
You can choose to stay at the condo hotels the same weeks each year if that is what you would like to do, but if you have a hectic and unpredictable schedule, then you can also change the dates that you want to stay at the condo hotels. Another difference between the two is that condo-hotels allow you to rent your condo out to other hotel guests when you are not using it, and the hotel management staff can assist you in doing this. The rental fee will be shared, which is a great way to pay your ownership costs.
You and only you are the owner when you purchase a condo-hotel unit.
What does this mean? It means you will always get first choice when you want to reserve dates. Of course, you can allow others to rent the condo when you are not using it, but the bottom line is you are the owner.
Now you can see the difference between timeshares and condo-hotels.