The Ins and Outs of Timeshares

If you like to go on vacation every year and would like the convenience and stability of always knowing where you’re going to stay, a timeshare may be for you. When you own a timeshare, you essentially own a portion of a condo, or a portion of different condos in different locations. Timeshares these days are incredibly flexible and add a ton of freedom to your vacation.

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Costs

Timeshare prices vary considerably, depending on the size of the unit, time of year you want to have it, location, amenities and a variety of other factors. There are timeshares for really any price range imaginable. You can even purchase a used timeshare for a significantly lower price. But in addition to the initial cost of the timeshare, make sure you think about things like maintenance fees, utilities and taxes. And don’t forget about the costs to travel to your time share!

 

Timeshares are Changing

While traditional timeshares usually meant that the owner controls a single property for a single block of time, nowadays you can own a timeshare for a hotel, resort, or even boats and campgrounds. Rather than being locked into a particular time per year or just one location, you can purchase credits or points that go towards different timeshares each year. That way, you can vacation in many different locations while still enjoying the benefits of a timeshare.

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How to Buy

The most important thing to remember when buying a timeshare is to do plenty of research in advance. You don’t want to make a big purchase like this on impulse. Find people who own timeshares and ask them questions. Find out firsthand how much their maintenance fees cost, and any quirks that may be involved with owning their timeshare. Contact property managers directly, rather than going with a timeshare salesperson who will try to sway you with their persuasive speech and freebies.

 

It’s a Great Investment

Instead of looking up resort prices every year and stressing out about where to stay, a timeshare makes it so easy to have your vacation planned out and at a fixed cost. Your property won’t inflate in price like hotels or resorts might. Check out Resort Management Association to learn more about some great timeshare plans. Investing in a timeshare can benefit you in the long run since it can be inherited by your children and you can even rent it out when you’re not using it.