ford91exploder
Resident Curmudgeon
Why not just rent from some one else???? I'm not buying a condo or a timeshare anywhere. The only point would be real estate speculation. Renters can pay your mortgage and insurance covers any liability.
Trust me insurance does not cover any liability, In a past life I was a underwriter for an insurance company most people have huge holes in their insurance coverage,
When you RENT your property it becomes a commercial property and your normal homeowners insurance is null and void because there is a big difference between RENTING and having GUESTS.
Now you need to insure with commercial insurance which is more complex and has many more rules and or place your property with a management company which should have the necessary coverages, However you STILL need to maintain coverage in case the management company lets their coverage lapse or it's insufficient. Figure you will need a 5 million dollar liability policy at a minimum.
Timeshares I agree from a financial PoV are a terrible investment, However as a type A who does not go on vacation unless forced to from a family point of view it has been a magnificent use of money. Because without the DISCIPLINE of the timeshare I would not GO on vacation.