Buying timeshare condos became popular in the 60s in Europe. A ski resort developer in the French Alps who realized that most people could not afford to buy a vacation home developed the concept. He offered the opportunity to purchase a piece of a hotel, rather than renting a room.

These days, timeshares have become an increasingly popular way for people to own a vacation spot. The American Resorts Development Association reported that there in the United States alone, there are over two thousand timeshre resorts, with nearly four million owners making it the fastest growing segment in the tourism industry. Timeshares are found all over the world in major cities, near beaches, rivers and lakes and mountains.

Timesharing means that for a set fee and during a certain period each year you own time at the resort you bought in to. The average buyer purchases two to 13 weeks per year. You can trade your time through different timeshare networks if you find a week you purchased is not convenient. This makes owning a second-home easy because you are living in a hotel environment with all the amenities like housekeeping, restaurants, fitness centers, pools, etc. Timeshares are available as studios, one, two and three bedroom units. Owners, can rent their spaces out as well, bringing in a little extra income. The income is not substantial because the management company usually takes a percentage of the rental fee, and you also have to pay yearly maintenance fees as the owner of the property.