It’s a question that those of us thinking about owning a timeshare have asked again and again: is it worth it?
If only the internet would help with this question. There is a wealth of information out there on timeshares — what kind to buy, where to buy, etc. A lot of the information also tends to be related to getting you to sell your timeshare, or buy a timeshare. In short, much of this information is promotional. And of course it’s promotional — who after all, is spending their time writing about timeshares?
But what about those who already own timeshares? Do they think it’s worth it?
The answer is simple, but obvious: no.
Many timeshare owners who purchase a timeshare simply fail to use their property. This is what is known as procrastination to some, poor planning to others. But the reality of trying to plan a vacation within a specific time frame can be rather difficult. Work gets in the family. Family schedules can get messy. And sometimes, weeks are just not available.
Timeshares were once a luxury, only now timeshare resorts are now taking to the internet to rent out properties. Resorts that were once unique and pieces of real estate have becomes commodities like any other resort. And therein lies the rub – timeshares are not special.
But maybe you thought timeshares were cheaper. Actually, that can only be true in some cases, but not true in most. Keep in mind that timeshares bought by a timeshare sales company carry with them a hefty price tag, somewhere in the realm of several thousand dollars to over $20k. So you’re going to have to figure out how many week vacations you could have gone on using that money. Four? Five, if you get a good deal?
Next, add to that the fact that maintenance fees are billed either monthly or yearly, and these are usually around $800 and up. It’s at this point that a week’s vacation may seem like a good deal. $800 for a week at a great resort? Not a bad deal.
But miss one year, and you’re out $800 or more. Miss another year, you’ve already lost out on $1600. And sometimes, it is possible to rent your timeshare. But keep in mind this is not a guarantee, and many times, you will pay a rental listing fee, only to have no one rent your timeshare.
These associated costs quickly add up to a deal that is not going to be in your best interest. Timeshares are, in the end, going to cost you more money. Unless you’re one of the few who know how to plan ahead, don’t have sudden life changes, and never get sick of going to the same place year after year, then a timeshare is right for you. For those of you who have any of the above mentioned problems, timeshares aren’t going to be the best bet.
And what about those timeshare owners who want out of their timeshare but can’t? There are always options. The easiest one is going to be using a timeshare transfer company such as Timeshare Relief or Transfer on the Spot. There are also sales websites such as sellmytimeshare.now and Timeshare Lifestyles. Whatever the case, for most vacationers, it’s going to make more sense to get rid of a timeshare, and best to not buy one altogether.