Frequently Asked Questions

Although the concept of vacation properties is not new to the public, people still have many questions about vacation properties. Few of the most important frequently asked questions that people enquire about are discussed as follows:

Is renting a vacation property better than buying it?

Buying a vacation property gives you much bigger choices. As an owner of the vacation property you get the amenities are better and cost much less. Owners can get discounts on lodging, entertainment, food, travel and many other resort facilities. The average rental fee is way higher than the average maintenance fee and is also increasing every year. In addition to all the above benefits a vacation property owner has equity in the property which can come to the advantage of the owner when he wants to sell it.

Is buying a vacation property a good investment

Many people get this question in their minds whether to buy vacation properties as an investment. The answer can be disappointing to you because it has been seen that the value of the vacation property depreciates with time and they can go as much as 30%-50% depending on the location and season. A vacation property should be thought of as an investment in life, for guaranteed vacations and better facilities. Also if you compare the cost of owning a vacation property with a hotel in the long term period, a vacation property would save you a lot of money.

Can you rent your vacation property to somebody else?

Sure you can as long as you are the legal owner of that vacation property meaning you cannot rent out a vacation property that is received in exchange.

What is the procedure of making an exchange?

Most vacation property companies have a business network with vacation property companies and you are automatically enrolled into the exchange program and also the fee for the first year is paid by the vacation property developer in most cases. You can also go to the vacation property exchange company and put your vacation property for exchange. But keep in mind a few things like you will get a similar kind of unit meaning you can’t expect to get a two bedroom vacation property in exchange for a one bedroom. Also plan in advance if you plan to exchange vacation property as it may take a while depending on the availability. Also remember there is a fee for exchanging vacation properties.

What are fixed weeks and floating weeks?

In a fixed week plan you are entitled to use your vacation property only at a specific week each year and specific unit. But in a floating week you have the option of choosing a range of weeks but only on a first come first serve basis as many owners would like to do the same thing. The advantage of a fixed week is that your vacation property week is assured and also the unit you want. While floating weeks is advantageous to people who have schedule conflicts with fixed unit vacation property.

Are there any other additional fees when you buy a vacation property?

The answer is yes. Typically there is a maintenance fee and other fees like transfer fee if you are transferring a vacation property. There may be property tax also.