Pros and Cons of Timeshare Ownership
min Read
Do you dream of taking a vacation every year? Who doesn’t? Imagine spending that time in places you love, with dependable, spacious accommodations and top-notch amenities. Sounds perfect, right? Timeshare ownership can offer all of that—but it’s not the only option for how you spend your vacation time and money. While the consistency and reliability of owning a timeshare interest are appealing to many, they might not suit those with more unpredictable schedules. Before making any commitments , take the time to weigh the pros and cons of timeshare ownership.
Timeshare Ownership Pros and Cons Summary
We’ve compiled a list to help you weigh all the important timeshare ownership pros and cons and realities versus myths.
Realities
- Guaranteed vacation every year
- Flexible ownership options
- Easy to maintain
- Exchange flexibility
- Additional amenities
- Fit for families
- No surprises
Myths
- Pushy sales tactics
- Not an investment asset
- Difficult to get out of
- Annual fees
- Limited financing
- Affected by inflation
Benefits of Timeshare Ownership
Guaranteed Vacation Every Year
Think of a timeshare as a promise to yourself that every year you’ll go on vacation and know you’re going to enjoy it. One of the benefits of owning a timeshare interest is that your vacation is already paid for, so you only have to consider when and where you want to vacation and trying to reserve that time to make sure you can get away and truly disconnect from your everyday surroundings.
Flexible Ownership Options
Think about how you like to vacation, then choose a timeshare program that fits your vision. Whether you prefer traditional options (where you may own the right to stay at a particular resort at a particular time each year) or modern multi-site programs with points-based systems (through which you have options as to where you can stay and when you can travel), a timeshare interest can help you satisfy your wanderlust one vacation at a time. If you’re wondering how to narrow down your options, keep in mind that most timeshare companies today offer points-based systems, rather than more traditional fixed-term options.
How Much Do Timeshares Cost?
Easy to Maintain
When it comes to maintenance, repairs and upgrades to the property that is included within your timeshare program, you won’t have to lift a finger . The timeshare operating/management company does all of the planning and work, paid for by your yearly dues, to make sure everything stays well maintained.
Exchange Flexibility
Some timeshare programs allow you to trade times or locations with other owners so that you have the chance to try something new for a change. Even if you have a fixed-term and/or fixed-location timeshare interest, you can still get a little bit of variety in your vacation experiences.
Additional Amenities
Imagine spending your day unwinding at a luxurious spa, indulging in fine dining by night, or splashing the afternoon away with your kids at a waterpark. Whatever your interests, the onsite amenities may be a standout benefit of your timeshare getaway.
Timeshare properties themselves usually have the comfort of home, with 1-, 2-, or 3-bedroom villas that include separate living and sleeping spaces, so everyone has room to spread out. Go ahead and pack less because you’ll have your own washer and dryer to use. Feel free to cook in the fully-equipped kitchen just like you’re at home, or head out and treat yourself to one of the delicious culinary experiences on offer just beyond your doors. You can even bring your leftover meal home and enjoy it later at your convenience.
Fit for Families
The only thing missing from traditional hotel-based vacations is having the closest people in your life along for the ride. Timeshare resorts are designed to accommodate your whole family with ease. The spacious layouts and separate living and sleeping areas are especially convenient for people traveling with children, so not everyone has to have the same bedtime.
No Surprises
Have you ever booked a hotel or Airbnb, traveled to get there, and then only when you finally arrived did you see it didn’t match the pictures or description? One of the biggest benefits of owning a timeshare interest with a well-known brand operator 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 standards.
If you rely on the quality and backing of a known lodging brand you already trust, you won’t have that lump in your throat like every time you’re on your way to an Airbnb hoping it lives up to your expectations.
Timeshare Ownership Considerations
What Should You Expect in the Sales Process?
You can attend an ownership presentation, either online or in person, to learn more and make your decision with confidence. During the presentation, take the time to ask questions to learn and understand the benefits and downsides of owning a timeshare interest. Salespeople and sales pitches can be intimidating, especially if it’s your first time exploring timeshares. Remember, it’s important to become informed during this conversation, as you will be expected to make a decision by the end of the presentation.
What Kind of Investment Do You Want to Make?
A timeshare is a commitment to your happiness, and it is not a traditional investment asset like stocks and real estate. Owning a timeshare interest is for new experiences and relaxing moments with loved ones. It’s not an investment that will appreciate over time and is unlikely to return a profit if you ever want to sell it. But not every commitment needs to be a step towards financial wealth in order to have a positive impact on your life.
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 interest. Timeshare interests 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.
What Do Annual Fees Look Like?
In exchange for not having to handle any of the upkeep yourself, you will pay yearly dues that make sure it gets handled for you. You may also be required to pay annual fees for other usage rights, such as through an exchange program. Find out how much the annual fees cost (and it is likely they’re subject to increase/change). The cost can vary a lot depending on what kind of timeshare ownership you pursue, so find an option that fits your budget.
Are There Options for Financing?
Speaking of your budget, the ideal scenario for buying a timeshare interest is to do it when you have enough money saved up. If you don’t have the capital but still want to make the most of your vacations, there may be financing options available through the timeshare developer/seller, or you can try going to your own lenders.
How Is Timeshare Ownership Impacted by Inflation?
The benefit of a points-based timeshare ownership program is that you can choose your vacation every year based on what makes sense for your budget. That kind of flexibility is priceless. Typically, the primary costs that may rise for timeshare owners besides the purchase cost for the interest are annual fees, not the point value of resort villas.
Curious About Ownership?
Contact us for more information about our timeshare ownership offers and available resorts. We’re always here to help!
