Exploring the Benefits of Timeshare Ownership
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Owning a timeshare lets you take yearly vacations in places you love with spacious accommodations and quality amenities you can depend on. But it’s only one way to spend your hard-earned holiday time and money, and it may not be right for everyone. While the consistency and predictability might be appealing to some people, it can feel confining to others. Before you jump into any purchases, take the time to think about all of the pros and cons of timeshare ownership.
Timeshare Pros & Cons Summary
To help you weigh out all the important timeshare pros and cons, we’ve compiled a list.
Pros
- Guaranteed vacation every year
- You pay for what you use
- Flexible Ownership Options
- Ease of exchangeability
- Additional amenities
- Fit for families
- No surprises
Cons
- Pushy sales tactics
- Not an investment asset
- Difficult to get out of
- Annual fees
- Limited financing
- Affected by inflation
Benefits of Timeshare Ownership
There’s Nothing Better than Vacation Every Year
Think of a timeshare as a promise to yourself that every year you’ll take a real vacation and know you’re going to enjoy it. Life can get busy, which makes it hard to think about when and where you’ll be able to fit in some me time. One of the benefits of the upfront investment of owning a timeshare is that your vacation is already scheduled, year after year.
You Pay for What You Use
If you purchase a traditional vacation home, it’s most likely going to sit empty for the majority of the year that you’re not there. Which means that for about 51 weeks every year, you’re paying for an empty house. Why not share that cost with other people? With a timeshare, that’s exactly what you’re doing: paying for what you use and not a penny more. Suddenly that luxury vacation property looks a lot more affordable now that you only need to pay for the week that you stay!
Flexible Ownership Options
Think about how you like to vacation and then buy a timeshare that fits your desires. If you’re someone who likes predictability, you can get a fixed-term or floating-term timeshare. With each one, you get to vacation at the same property each year. The only difference is whether you want it to be the same exact week yearly (go with a fixed option), or if you’d rather leave in that little flexibility of choosing your week every year based on what else you’ve got going on (a floating option is for you).
If you’d rather be more spontaneous and mix things up year to year, then you might like buying timeshare points which you can trade in for a different week and different location for every vacation. If you need a balance between dependability and variety, a vacation club timeshare lets you purchase a right-to-use that can be applied to a number of different, incredible locations.
Types of Timeshare
Easy to Maintain
When it comes to repairs and upgrades on your vacation property, you won’t have to lift a finger! All of the planning and work is handled by the timeshare company and in return you pay yearly dues to make sure everything stays well maintained.
Ease of Exchangeability
Even if you have a fixed-term timeshare, you can still have a little bit of variety. Find other owners interested in mixing things up and you can trade times or locations for a year so that you all have the chance to try something new.
Additional Amenities
Picture yourself enjoying a relaxing spa during the day and then indulging in fine dining at night. Or letting your inner child splash the afternoon away at a waterpark. Whatever you’re into, onsite amenities will be a major benefit of your timeshare getaway.
Take advantage of additional accommodation facilities, like kitchens and laundry, that make it feel more like home and can also cut down on your overall vacation expenses.
Fit for Families
Imagine how special your vacations will be when you’re surrounded by all of your loved ones. Timeshares are designed to accommodate your whole family with ease. You guys can spread out in the spacious condo-like layout, and take comfort in knowing that returning to a favorite place all together year after year will create memories you’ll cherish forever.
No Surprises
Have you ever booked a hotel or Airbnb, traveled to get there, and then only when you finally arrive you see it doesn’t match the pictures or description? One of the biggest benefits of owning a timeshare is that you know exactly what you’re going to get. Even if you have an ownership model that takes you to different locations, you already know what type of place is waiting for you and that it meets your home-away-from-home standards.
Timeshare Ownership Considerations
Sales Tactics
Salespeople and sales pitches can be intimidating, especially if it’s your first time diving into the world of timeshares. Before making any decisions, take the time to learn all the benefits and downsides of owning a timeshare. You can attend an ownership presentation, online or in person, to learn more so that you can make your decision with confidence.
What Kind of Investment do you Want to Make?
A timeshare is an investment in yourself and your happiness, not a traditional investment asset like stocks and real estate. When you decide to be a timeshare owner, it’s for the new experiences and relaxing moments you’ll have with loved ones. But it’s not an investment that will appreciate over time, making it unlikely that you’d make a profit if you ever want to sell it. Just remember, not every investment needs to be a step towards financial wealth to have a positive impact on your life.
Types of Timeshare
What if You Want to Sell?
There may come a point, after years of incredible vacations, that you can’t keep traveling and want to sell your timeshare. Timeshares can be difficult to sell, and you might end up selling it at a discount. If you don’t want to navigate the market alone, there are resale platforms that can help.
Annual Fees
In exchange for not having to handle any of the upkeep yourself, you will pay yearly dues to make sure it gets handled on your behalf. Before you buy a timeshare, find out how much the annual fees cost and if they’re subject to change at all. The cost can vary a lot depending on the size and location of the timeshare, so find an option that fits your budget.
Financing Options
Speaking of your budget, it’s in your best interest to buy a timeshare when you already have enough money saved up to do it. While you can get a mortgage for traditional property ownership, it’s not as simple to get a loan or mortgage for timeshare ownership.
Inflation
The benefit of a points-based timeshare is that you can choose your vacation every year based on what makes sense for your budget. That kind of flexibility is priceless! But you do have to take into consideration that the cost and value of points can change with inflation. What you paid for a certain number of points one year may cost more the following year, or the kind of vacation you could trade your points for one year may get you a different kind of vacation another year.
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Frequently Asked Questions
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Why Timeshare is Not an Investment
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Curious About Ownership?
Contact us for more information about our timeshare ownership offers and available resorts. We’re always here to help!
