Bay Tree Solutions on the Timeshare Market in New Orleans

As property values increase around the nation, purchasing homes becomes harder. People are now looking for alternatives where direct ownership is not prioritized. In other words, finding properties that one can use without making a full purchase, such as through renting or shared ownership, is one of the most popular trends in the current market. This is where timeshares have begun to grow in popularity.

“Timeshare” stands for a property where multiple owners have a legal right to use the home for a specific period of time. For example, individuals can purchase a part of the ownership so that they can have a vacation destination. Doing so effectively lowers the amount of capital that they must invest, according to Bay Tree Solutions, a timeshare resale company. After all, buying a part of the ownership for a limited time is much more affordable than buying an entire home.

Choosing the Right Destination

Buying a timeshare tends to be a decision made without much previous consideration. Although it is not quite an impulse buy, most buyers do not spend months planning to engage in such an untraditional transaction. Nevertheless, one thing that almost everyone who owns a timeshare must look into is the destination. After all, having a vacation home with limited rights to use is futile if the location is inaccessible during your share! So, how do timeshare owners go about determining where they would like to buy this form of property?

In the vast majority of cases, timeshare buyers look for properties located in areas where they would not mind moving to indefinitely. Someone residing in Texas, per se, may wish to move to California at some point in their life. Obtaining a timeshare that lets them experience life on the West Coast, however, is a great compromise.

Choosing New Orleans

Even though the number of options is almost limitless, there are great incentives for buying a timeshare here in New Orleans. As a city that earned $8.7 billion from visitors in 2017, it is fair to say that it heavily relies on the tourism industry. Thus, making it a vacation destination would be a perfect fit for those looking to unwind. So, what are some of the positive factors that propel New Orleans as one of the top timeshare locations in the nation?

- The Climate

The weather in New Orleans is amongst its strongest selling points. Given that the temperatures almost never go below freezing, visitors do not have to worry about being constantly cold. Additionally, although there is some rainfall during the year, most months see less than a week of rainy days. Since timeshare owners tend to take vacations lasting a few weeks or more, those few days with rain should not be a problem. Additionally, the summer months almost always come with temperatures that exceed 90 degrees Fahrenheit while seldom falling below 74.

- Local Events

According to Bay Tree Solutions, most buyers are looking for an escape from their reality. Thus, purchasing timeshare tends to boil down to an area where there are a lot of events, local attractions, festivals, and more. Well, there is hardly a better place than New Orleans when it comes to all of the aforementioned. Besides sleepless nights in the French Quarter, the city also offers all of the following:

• Mardi Gras - One of the top 20 celebration-like events in the entire nation;
• Soul Fest - two-day festival that is over a decade old;
• Jazz and Heritage Festival - a seven-day event with thousands of musicians from around the world;
• Tales of the Cocktail - Created in the French Quarter and recognized as the world's leading cocktail festival.

Of course, there are many more events that take place on a daily basis. Thus, New Orleans is a perfect fit for someone looking to visit an exciting city once a year.

Affordability

Ultimately, according to Bay Tree Solutions, buyers need to have a reason to buy a timeshare instead of a home in its entirety. With New Orleans, this is easily satisfied as the current listing prices exceed the national average by $45,000. According to Zillow, the average listing price of a home in the U.S. is $275,000 while New Orleans' rates are around $320,000.

This means that people who are unable to make transactions of this size will be inclined to rely on timeshares. After all, doing so will let them get access to their dream homes while spending much less money. Hence why timeshares tend to be a perfect alternative for everyone who is limited on capital!