Timeshares are often a topic of hot debate among vacationers.
If you love going on vacation and have always dreamed of owning your dream timeshare, you’ll find plenty of folks who agree with you. So, does this mean you should jump at the chance to own your very own shared vacation home and timeshare contract?
Before you make a final decision, there are some details you should consider.
Is a timeshare in your future?
Are timeshares worth it?
Let’s get answers!
Table of Contents
Consider Your Vacation Consistency
Timeshares can certainly be a great option for families that have consistent vacation plans. They offer a form of vacation rental that guarantees:
- the same spot each year
- long term rental rates
- special discounts
For people that prefer to return to the same destination year after year, timeshares are a great investment. This is especially important if you and your family have this annual tradition like Christmas or Thanksgiving getaways.
Factor In Cost Savings
Timeshares can be a great way to save money on annual trips if you factor in cost savings. By purchasing a timeshare, you are buying into a larger home or complex and thus, the cost of lodging is considerably less than booking traditional vacation rentals.
Moreover, there are often discounts and promotions offered by the timeshare company, such as reduced or free services, complimentary upgrades, and other perks included in the cost. Additionally, many timeshares are leased out for years, so it can become an even bigger cost savings over time.
Financial Commitment and Upfront Investment
Timeshares are a complex financial decision. Owning one can require a lot of money upfront and potentially a long-term financial commitment. Life changes can happen quickly and suddenly make it difficult to honor this commitment.
Although amenities and discounts can be a huge draw for prospective buyers, these benefits must be weighed against the high financial commitments and upfront investment required. But, if you can afford it, why not? It’s going to be really worth the money.
Find Out Possible Resale Value and Exit Options
When considering a timeshare, it is important to find out the possible resale value and exit options. A consumer should be realistic about the resale value of the timeshare, as after the initial purchase there may be minimal, if any, increase in value.
It is recommended that research be done to find out if the timeshare company offers exit programs, which could provide financial relief if they are no longer able to use or keep the timeshare. Knowing the exit options and resalable value of the timeshare will help a consumer make an informed decision regarding their purchase.
Looking Into Flexibility and Exchange Programs
Certain timeshares like the club intrawest timeshares also offer more flexibility, allowing the renter to exchange their vacation time with other timeshare members for different destinations. This can provide a welcome opportunity to add variety to a family’s annual vacation plans.
This exchange program can also work in the renter’s favor when it comes to cost savings. As the timeshare will not be used all the time, the cost can be split between several renters. This makes the cost much more affordable.
So, Are Timeshares Worth It?
Timeshares can be a great option for people who travel frequently or have a specific vacation destination in mind. Although upfront costs and additional fees are something to consider, the benefits of having guaranteed vacation time and accommodations cannot be overlooked.
So, are timeshares worth it? Explore the options and decide if a timeshare is the best fit for you!
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