The Pros and Cons of Buying a Timeshare

There are several types of properties that you can choose to invest in. timeshare- a property where you can spend your holiday once a year- is one of the such types which people find interesting to invest in. sometimes, it can turn out to be an emotional decision. Mainly, because there are few technicalities that might cause financial distress on the part of the buyer. Even the sellers, have to face few challenges at certain pints. Regardless of whether you are going to buy or sell timeshare, it bears some bright as well as dark sides- just to help you take an informed decision.

Let’s find out here, what things you must consider before investing in this business:

The Pros:

Helps you Save on Travel Expenses:

Owning a timeshare helps you save money. Especially, when you get one with facilities. For instance, if your timeshare has laundry or kitchen facilities, you save money instead of spending on these facilities.

You ONLYPay for What You Use:

it’s a big plus that you pay for what you use, unlike many vacation homes. An expensive property becomes, thus, an affordable one. Isn’t it good to have a vacations in a luxurious home, without staying hard on your pocket? Moreover, the maintenance of such property becomes no more your headache.

You Have a Guaranteed Destination Accommodation:

Since, you own a property at your destination, you don’t have to worry about booking a hotel or resort. You will not worry about the availability of the accommodation. It’s your property that you can use on your will and save money on other hotels or resorts.

Trading in Timeshare and Travel:

An interesting benefit about timeshare is that you invest in diverse experience in travelling. Here’s how: there is always an open option to trade your time and location with other community members. You can visit to new places in different times in trade of your location and time. Isn’t it good to travel to different places every year and collect memories and experience?

The Cons:

You HAVE to Pay Fees, No Matter What:

It is true that you don’t need to worry about the booking fee or maintenance, however, you have to pay annual fees. Moreover, the rates are increased which is out of control of the owner. In case you don’t pay the fees, you become liable for assessments for not being able to pay. This can result of loss of your timeshare.

Selling Timeshare Can Be Harder:

You might find yourself in a situation when you need money or want to sell your timeshare. In that case, it becomes difficult to sell as you will have to sell on unreasonable discounts. This is because of better deals prevailing in market. Keeping in mind this fact, it is better to buy a secondhand timeshare.

No Claims in Case of Loss:

A big dark side of selling timeshare is that if you sell your timeshare at loss, you will not be allowed to claim your capital loss through Internal Revenue Service, unlike other investments and properties.

Few Tips for Buyers:

  • Timeshare unleashes more as a lifestyle instead of investment. You need to pay more, regardless of using your property.
  • Before spending money on a fixed destination, analyze whether you really like to go to same place every year? What if someone doesn’t trade timeshare. It gives you a fixed type of vacation every year.
  • Since, timeshare depreciates in value, it is not wise to lend money from banks for this purpose. In case, developers finance your money, they can go after your other assets if you become unable to pay.
  • Check if you are offered race period to reconsider your buying decision and cancel before commitment.





Making Space: The Shortcut to Peace

Life seems to be getting increasingly stressful. Whatever your political affiliations, each news cycle and daily paper seems to contain more sources of anxiety, and we’re working longer hours than ever while apparently achieving less.

In these difficult times it’s important to be able to come home to a house you’re really able to relax in. If you’re as stressed out by your home as you are by the rest of the world, you’ll soon be consumed by worry and unable to relax. While there are lots of different ways to relax – from meditation and mindfulness to knitting and other crafts, the first step has got to be to create an environment that lets you foster a sense of peace.

Studies have shown that an untidy home actually creates stress for the people who live in it: excessive clutter makes it harder to find things when you need them; it encourages feelings of guilt, as you get trapped in cycles of regret and recrimination about the tidying you should have done, which paralyse you and stop you beginning the process of clearing your home out and an overcluttered home actually overstimulates your brain with excess visual information! It’s exhausting, and the first step to creating a new sense of peace and relaxation is to rid your home of clutter.

Tidying and sorting can itself be a relaxing activity if you’re able to overcome the natural temptation to procrastinate and actually start. Rather than creating more mess in your home by embarking on a mammoth cleaning campaign, you might find it easier to simply box up everything but the essentials and put them in a storage facility. From there you can sort them into things you want to keep, things to sell, donate or pass on, or things to simply throw away.

If you look for short term storage in London you’ll find plenty of options to suit your needs, and let you process through an accumulated life’s worth of clutter.

The aim isn’t simply to produce a minimalist house with nothing in it but the bare essentials. This might be right for some, but for others it would feel eerily empty and produce just as much stress! You have create a home that is right for you, specific to your needs and tastes. If you like a home that is cluttered with decoration, ornaments, and carefully chosen mementos of shopping trips, and holidays then that’s something to aim for! Stripping things back will allow you to make a choice about what you keep to decorate your home with and make sure it’s a carefully arranged nest, rather than filled with arbitrary clutter.

 

What is Long-Term Care Insurance and How it Works

A long-term care policy can be expensive, but there are ways to make it more flexible and affordable. The definition of long-term care is when a person with disabilities, a choric illness or other medical conditions needs help daily on an extended basis. One type of care this would cover is home care says a caringpeopleinc’s article recently.

Home care is when professional caregivers assist with activities such as personal care which includes bathing, dressing, and meals. It will also includes needed skilled care which is provided by nurses, doctors, therapist and other professionals. Some insurance companies which have this policy will only pay for services used from a home care agency which has certified or licensed professionals. However, other ones will let you hire a caregiver who is an independent or who is a non-licensed provider. Some companies will even allow you to retain family members for care.

Buying a policy

There are some factors to consider when buying a long-term care policy. Your age is one because a policy will cost less if you’re in good health and younger. Getting coverage could be difficult if you already have a severe or chronic illness. Or, if you do, it will cost more.

What about the premiums? You might think about whether the premiums will be something that you’ll be able to afford if your income decreases. Policies increase in cost over time which will be a problem if your income drops as well. If you buy a policy and then, after a period of time, you can’t afford the premium; then you will have lost that money that you’ve already invested.

If you have a problem paying bills at the present or are worried about paying bills in the future, then this type of policy may not be for you. If you have few assets or have a low income when in-home care is needed, you could qualify for Medicaid. But to be eligible for Medicaid, you would have to exhaust all other resources and meet their guidelines.

When you have determined what the best long-care term insurance for your situation is and have figured the cost calculations, then you will be ready to buy a policy if its right for you. The first thing to do is to ask your state insurance department for an approved list of companies that sell long-term care insurance policies within your state. Then check out how stable the company is and what the history is of this type of insurance coverage.  

Next, compare the costs of policies and information from at least three different companies. Find out how often premiums were raised and how much they were raised. Plus, get a written copy of the policy you’re considering and review it. Write out any questions that you might have and have the representative you’re talking to answer your questions in writing. Make a thoughtful and intelligent choice when you’ve made your decision on which policy to choose.

Other tips

Whenever you make a premium payment, don’t make it in cash. Write a check or pay it with a credit card where you have a paper trail for proof. Always make your payment in the name of the company, not the individual who’s collecting it.

Trying to decide if long-term care insurance is right for you or if you are going to need it in the future, will take some time. Don’t let anyone hurry you into making a choice. After you do decide on the policy you want to purchase and purchase it; you have 30 days to review your signed policy and cancel it if you decide that you don’t want the policy afterward.

Decisions about a long-term care policy are something to consider carefully.