Condos are the real estate of the future, but if you've been living in the Addington Highlands for most of your life, you've probably never even seen a condo except on vacation to big cities where there are signs everywhere for Toronto condo sales. Someone may have mentioned condo timeshares to you at some point and now you're wondering if one would be a good idea for you. We'll tell you all about condo timeshares in this article so you can make an informed decision.

What is a condo timeshare?

Time shares are not the same thing as rentals or sublets. A condo timeshare is simply a protocol for sharing a piece of real estate over the space of a year. Several different people may own rights to use the condo for a certain period of time that occurs at the same time every year. Sometimes they all own shares of the property and sometimes they simply own the right to use it. When they're not at their time share they're living at home in their Etobicoke real estate.

Where are condo timeshares usually located?

Condo timeshares are always located in very popular tourist areas where there is a high demand for living space during certain times of year, or even all year round. Condo time shares are very popular in Florida but almost unheard of in Toronto. Condos that are located in very warm or tropical areas are likely to be timeshares. This includes the Caribbean, Florida, and the Pacific Islands. Although big cities are popular tourist destinations, their condos are less likely to be time shares because living space is at a premium year round.

How do I buy a condo timeshare?

To buy a condo time share, you would approach a real estate agent in the area you had in mind. Your usual PEI real estate agent cannot help you find a condo time share in Florida, and neither can your travel agent because you will be buying a stake in the property rather than just renting it. Resort destinations will have a lot of time shares so search for one in your date and budget range with the amenities you need.

How do I make my condo a timeshare?

You can turn any condo into a time share if you only spend small chunks of time in it. To do so, approach a realtor to sell the shares for you. Not any condo will sell as time shares, however. You could likely not turn your Edmonton condo for sale into a time share because Edmonton is not a high traffic destination. It's too cold for too much of the year. If you do live in a likely area, you'll want to guest-proof the condo before you leave it to make sure nothing gets damaged.