A timeshare, on the surface, looks like the perfect vacation solution for people across the globe…and for some it is. It has plenty of dynamic features and benefits to draw people in. Likewise, there are plenty of reasons to give pause before purchasing a timeshare. Here are some pros and cons of timeshare ownership to consider before diving in along with some basic information you will need:
Most timeshares are based around buying vacations in advance. The way this is done varies, but there are basically two kinds of timeshares. One is when you have deed ownership of property and the other is when you purchase or lease usage rights to the property. Although many variations can exist within these types, these are the basic categories.
The positives of timeshare ownership
It is a buyer’s market – Timeshare ownership can be had for a song in most places of the world and compared to other vacation options, you can surely save a ton of cash. Money is the bottom line and for those that use the timeshares they purchase, they save plenty of it. The key to owning timeshares is to use the spots that you purchase and take advantage of the opportunities provided.
No need for extra luggage – Unlike purchasing a rental home or condominium, timeshares are generally fully equipped with everything you need. You don’t have to purchase towels, furniture, sheets, pillows, appliances or anything else when you buy a timeshare. All of it is already there.
Quality that is known – When you go on vacation, quality is always a concern when you rent a home or condo. With a timeshare, you know what you are going to get and can feel good about your quality of stay.
Easy flex schedules – When you buy a timeshare, you are not locked in to a certain schedule in most cases. If you do have a change needed, you can generally find a trade, use some points or make it happen in some way or fashion. It is necessary to work on a plan ahead of time, but you can generally find someone to help you out.
The downside of timeshares
You can lose money – Like is mentioned as a positive above, you have to use timeshares to save money. If you don’t, you will lose money. This can be a problem if you have a last minute emergency or otherwise can’t make it. The bill keeps coming no matter what.
It is a buyer’s market – Again, this is also listed as a pro up above. The reason? Because one day you might want to sell your timeshare. If you are not very careful about what you purchase, you may have a very tough time selling your timeshare. For this reason it is vital that you buy one because you know you will hold onto it and use it. Don’t go with timeshares for investments.
Have you considered a timeshare? What made you consider or reconsider the idea?