The “dog days” of summer are upon us! Does anyone know where that old saying comes from? I don’t — but ever since I can remember, when August comes around, the saying is on everybody’s lips. It is probably much more likely that what IS on everybody’s mind right now is HOLIDAY (known in USA as VACATION). August 2019 is spoken for by most now. We at CCI would like to get you thinking about next year. Where will you choose, what type of activity, etc. etc. Yes, yes you say, but let us have this year’s holiday first; then we will think about next year. Well, we at CCI like to be on the cutting edge, as it were, about everything real estate — including holiday venue puchase, so a year in advance is not too soon for us. With that in mind, we present this newsletter about Timeshare for your consideration.

TIMESHARE ANYONE?

As our regular readers would know, our usual newsletter subjects have ranged from travel logs, interesting Italian institutions, food shopping, and some philosophical musings about fence-sitting, among others. This time, however, we want to let you know about an interesting type of real estate offering you might want to think about in your search for Italian property – timeshare property.

Surely the timeshare concept is not anything new to you who have shown an interest in real estate here in lovely Italy. Yes, most of the other offerings will be country villas, lakeside properties, and elegant city apartments for example, but this is another sector which offers a kind of cross between a hotel/resort vacation location and your very own vacation property. With the timeshare concept you can have your vacation time pre-arranged with little effort on your part, and your property always waiting for you in perfect order. All you need to do is get here – the rest is all taken care of. If you want to, you can even change the venue by trading points for different locations.

Types of timeshare properties are infinitely variable, ranging from apartments in hotels, homes in resort communities, country villas – well, you get the idea – so you should be able to find something which fits your needs and desires.

So…why would you be interested? Well, for one, it makes sense if you are primarily interested in a vacation home only, and not so much in the home as an investment, since the value of your reserved time does not increase over the years. Secondly, it also makes sense if you are secure in your choice of location and time of year. Stability is the name of the game here. Trading does happen but, bottom line, it is the contract which has the final say. Thirdly, it is this very stability which differentiates the timeshare from just picking out a BnB place – everything is the same, the residence, the apartment, the neighbors, the payment, etc. Fourth, even though you are not a deed holder per se, your timeshare becomes a part of your estate and can be willed, as well as rented out to others or sold. Fifth, you are liable for no taxes or insurance costs – only monthly maintenance fees based on the size and type of your property.

How does it work? Well, you decide from the timeshare properties on offer which best suits your needs and interests. CCI can of course assist you with this! This includes cost, location, amenities, building style, etc; then you choose the time of year and the amount of time (usually in weeks). Financial arrangements in terms of down payment and mortgage financing need to be arranged, recommended with the help of CCI and a lawyer.

It is pretty evident then that the big difference between timeshare and other types of real estate transactions in Italy (as well as in other countries) is if your intent is on increasing your investment or no? If investment is not at the top of your priorities, but a holiday home in Italy is, then you should consider this opportunity.

Just below have a look at two timeshare properties on offer from CCI. Let us know how we can help.