Re-sale Timeshare or New Timeshares

What’s the Difference Between a Timeshare Unit, Condominium, Villa and Suite?

The primary meaning of condominium is “joint administration” or “joint rule.” Later it came to mean the individual unit or home in a multiple dwelling development. It was then shortened to “condo,” and used to describe apartments, or individual homes in a multiple-dwelling complex or building. “Villa” is a more general term and originally referred to a country home, with a group of country homes known as a village. Through common usage, villa now describes all single level apartments. Unit is a descriptive term that is interchangeable with condominium and villa. A suite is a villa, unit, condo or condominium, with at least two rooms, not counting bathrooms and kitchens.

Is it better to buy a New Timeshare Condominium or a Re-sale Timeshare Condominium?

The main benefit to buying a re-sale property is price. Re-sale units can be as much as 50% less in price than a new unit. There are benefits to buying a new unit however. New buyers have warranties from the builder that are not always transferable. The developer has obligations to new owners and a direct legal relationship that will give you peace of mind. Additionally, there are incentives given only to new buyers worth many thousands of dollars. Things like bonus weeks, bonus points from developers like Marriott and Hilton that can be exchanged for hotel stays. New owners are often given free membership in exchange companies such as Resort Condominiums International and Interval International. And, in some high demand resorts, buying a new condo is the only way to obtain ownership In these resorts, even re-sales are often handled directly by the developer/operator, and are almost the same, including price, as buying new.

Why is there such a price difference between new sales and re-sales?

A developer has a sales, marketing and administration budget. This can be as high as 50% of his selling price. Re-sellers are not able to recover these costs as market forces operate in the buyer’s favor and work to bring prices to the actual costs expended on hard assets---bricks and mortar!