Timeshare: Is it worth it? If you’re looking for a way to save on vacations, you’ve likely come across timeshares before. These vacation homes take the stress out of vacation planning, allowing owners to visit their favorite timeshare resorts in dream vacation spots across the world. However, if you’ve seen the average price for a timeshare ownership on the retail market, you may be reconsidering your timeshare purchase. So, is owning a timeshare worth it? Though the timeshare cost may be steep, there are ways to save on your ownership and make the most of your annual vacations. Let’s dive in.
What Are Timeshares?
To determine whether a timeshare is worth it, it’s vital to grasp a clear understanding of what a timeshare is. A timeshare is a property that is, on average, three times larger than the average hotel room. So, think of them like a villa or condo-style suite with home-like luxuries, such as full kitchens, separate bedrooms, washer/dryer, and more. Timeshare properties are most commonly divided into 52 timeshare weeks so that each owner can have one full week at the property (depending on their ownership type).
So, the meaning of “timeshare” is just as it sounds! Timeshare owners share the property over time. However, as the needs of owners have changed, the format of timeshares has changed as well. There’s no more “one size fits all” mentality with timeshares. Explore the different types of timeshare ownership below.
How Owning a Timeshare Works
Is owning a timeshare worth it? Well, that depends on the type of ownership you have and your vacation style. Nowadays, there are numerous types of vacation ownership types to choose from. Whether you’re interested in deeded, partial ownership or want to visit multiple resorts in sought-after destinations using the points system, there’s a timeshare ownership type out there for you! Browse the most popular types of ownership in the timeshare industry below.
Shared Deeded Ownership Timeshare Ownership
The owner of a deeded timeshare, also known as fractional ownership, has a deed to their specific week at a timeshare resort, meaning they own it. They are co-owners with the other timeshare owners of that resort, and the ownership is typically perpetual. Because of this, these timeshare owners can legally sell their timeshare, rent it out, or give it away since it is a deeded week.
Right-to-Use Timeshare Ownership
A right-to-use timeshare ownership does not come with a deed but a contract stating how long the owner has the right to use their timeshare. Most right-to-use timeshare contracts are over after 30-99 years, depending on what’s written in the agreement. There is no actual property ownership, and they act instead like lease agreements. However, you can still resell your interest on the resale market.
Points-Based Timeshares Sub-Type Ownership
Many timeshare agreements in the modern world are points-based timeshares. As the most popular timeshare model today, the points system arguably provides the most travel flexibility. Owners purchase points from a developer at a home resort, where you often receive priority booking. Yet, owners can also use their points to stay at other resorts in the developer’s collection. These owners receive an annual allotment of points each year and use them like vacation currency to book trips where they want and for how long they want. So, is owning a timeshare worth it? If you like vacation variety, points-based ownership is worth it.
Fixed-Week Timeshares Sub-Type Ownership
A fixed-week timeshare is the traditional model of timeshare. Owning a fixed week means you own the right to use your vacation condo during a specific week every year at the same resort, often in the same unit. This type of ownership is great for people who want to travel during the same time each year and favor one resort location. Yet, many developers that offer fixed-week timeshares, such as Westgate Resorts, also feature vacation exchange programs that can add variety to your getaways.
Floating Week Timeshare Sub-Type Ownership
A floating-week timeshare: Is it worth it? A floating-week timeshare allows owners their travel dates to their home resort within a certain time period or season. For example, if you have a summer season, then you can choose any of the weeks during summer to visit the resort. This ownership type gives owners a little more flexibility than a fixed-week timeshare because you can pick your dates instead of visiting the same week each year, though dates are subject to availability. There’s always the risk that if you wait to long to book, you won’t get the travel dates you want.
Timeshare: Is it Worth It?
Is owning a timeshare worth it for you? When purchasing a timeshare, it’s critical to consider how frequently you travel, where you travel, and who you travel with. Once you know these things, it’ll be easier to determine if a timeshare is worth it for you and your family. Do you travel often? Are you tired of cramming into small hotel rooms? Are you craving more luxurious on-site amenities? If you answered yes to any one of these questions, then ownership is likely right for you. Take a look at the benefits of owning a timeshare and see how you can maximize your vacation value with a timeshare.
Owning a Timeshare Is Worth it for Astonishing Amenities
Unlike your average hotel, timeshare properties tend to have plenty of top-tier amenities to enhance your stay in stunning vacation destinations. Many timeshare owners can indulge in on-site spas, delicious restaurants, poolside bars, state-of-the-art fitness centers, and glamorous pool decks. Many timeshare resorts even feature family-focused entertainment and activities
Owning a Timeshare Is Worth it for Spacious Accommodations
Is owning a timeshare worth it? If you’re tired of eating dinner in bed and fighting for the bathroom, then yes, we’d say so. Most vacation properties include spacious and luxurious accommodations that typically feature fully equipped kitchens, living and dining rooms, separate bedrooms, as well as private porches and balconies. So, you can forget about those small, lousy hotel rooms. When traveling with the whole family, a timeshare is the best way to go.
Owning a Timeshare Is Worth it for Priority Booking
If you’re visiting the same resort(s) over and over and are tired of fighting for dates, then owning a timeshare is worth it. Undoubtedly, frequent travelers appreciate the ease of priority booking. As a timeshare owner, you generally will have priority booking at your home resort months in advance of others. Priority booking gives you more options over non-owners when planning your vacation, especially if you own at or want to travel to a high-volume resort.
Owning a Timeshare Is Worth it for Spectacular Destinations
Too few of us get to explore the beautiful corners of the world. But timeshare ownership makes exploration possible. The best vacation clubs feature expansive portfolios with resorts in breathtaking destinations around the world. From Mexico to Europe, to the Caribbean and Asia, owners can book getaways in sought-after vacation destinations using their points or their vacation exchange network. So, timeshare: Is it worth it? If you crave diversity in your vacations, yes!
Owning a Timeshare Is Worth it for the Savings
Other than for taking spectacular vacations, the purpose of a timeshare is to help you save money on travel! When you buy a timeshare, you are securing a lifetime of vacations at today’s rates. That means that if travel rates rise in the future, you remain unaffected. So, if the hefty average sales price for a retail timeshare frightens you, remember that you are paying for years of vacations in advance. Moreover, you spend only a fraction of the retail timeshare price when you buy off the secondary market! So, is owning a timeshare worth it? If you like saving money, then yes, timeshare ownership is worth it.
Top-of-the-Line Vacation Clubs
Is owning a timeshare worth it? Yes, especially when you pick a club that fits your travel style. Timeshares have evolved since the 70s. Today, timeshares feature vacation-club-style offerings. Timeshare companies like Hyatt Vacation Club, Hilton Grand Vacations, Holiday Inn Club Vacations, and more provide their owners with exclusive vacation club memberships and benefits. Valued members can receive extra vacations, longer stays, car rentals, and tickets to live shows just for using their timeshare. When you buy a timeshare, you are entering a world of vacation bliss. Moreover, industry leading brands each offer distinct resort portfolios with signature hospitality, in-room luxury, and award-winning amenities. When deciding which club to join, consider making a pros and cons list of prospective vacation clubs to see where your travels needs are met and unmet. Bottom line, making an educated decision on which developer to choose is crucial is making sure timeshare ownership is worth it to you.
Vacation Exchange
Additionally, you can add a vacation exchange membership to your existing timeshare membership and travel to new resorts outside of your resort portfolio every year. This way, you’ll never grow tired of your ownership or seeing the same property over and over. The two leading vacation networks are RCI and Interval International (II), and you’ll find that the majority of vacation club brands are partnered with one of them. RCI features 4,000+ resorts across 110 countries, while II offers over 3,200 resorts in 90+ countries. These collections include resorts from top brands in stunning destinations that you may otherwise not get the chance to visit.
Some timeshare brands even have internal vacation exchange programs, such as Abound by Marriott, that allow owners to trade in their points/stay for a vacation with another brand within a brand family. So, timeshare: Is it worth it? Many owners would agree that vacation exchange makes ownership marginally more enjoyable.
Is Owning a Timeshare Worth it? Discussing Cost
Of course, when you ask, “Is owning a timeshare worth it?” you really mean, “Is a timeshare worth the money?” The answer is, it depends. Some would argue buying a timeshare directly from the resort is not worth the premium price tag. These individuals typically don’t see the value in travel or do not travel often, making their ownership a waste of money. Plus, new owners should consider the financial obligations of timeshare ownership, such as maintenance fees, annual dues, and closing costs, which are nothing to sneeze at. Learn more about how much a timeshare costs.
The obvious solution to this financial burden is taking personal loans and/or buying resale. Resale prices are often a fraction of retail, saving new owners thousands on their ownership. However, there are certain exclusive benefits you can only get when you buy your timeshare straight from the developer, particularly in the case of buying DVC resale versus direct. Be sure to check with your developer to see what club restrictions are in place for resale properties. Check out Club Wyndham resale restrictions, Marriott resale restrictions, and DVC resale restrictions. All in all, if you are someone who loves to travel and does so often, then owning a timeshare is worth it.
The Yearly Cost of a Timeshare: Financing and Annual Maintenance Fees
Like servicing a car, there are ongoing fees for timeshare ownership. Timeshare owners are typically required to pay annual maintenance fees. Your timeshare annual maintenance fee will differ depending on the timeshare company you purchased from. Paying yearly fees helps to cover the cost of your timeshare property. According to ARDA, the average maintenance fee for a timeshare in 2022 was $1,120 per year. Although this may seem like a lot, purchasing a timeshare resale can help you save money in the long run. Moreover, timeshare financing can help lift the financial burden of your initial purchase. Our friends at Vacation Club Loans offer low-interest rates on personal loans and down payments as low as 10 percent.
Timeshares are often more luxurious and better equipped than most hotels, which means that you could be getting a great deal on a lifetime of spectacular vacations. If you’re someone who values high-end accommodations and wants to save some cash, owning a timeshare may be worth it for you. This is especially true if you buy on the resale market instead of directly from a resort.
So, Is Owning a Timeshare Worth It?
In all reality, timeshares are only worth buying if you’re going to use them. The “value” comes from using your ownership every year. this way, your maintenance fees are put to good use, and you don’t waste any vacations. Finding a timeshare worth buying is all up to personal preference, but be sure to choose the right one to make the most out of your purchase.
Many brands offer different ownership types and resorts. Moreover, you can choose exactly what you want when you buy a timeshare resale. Start by browsing our timeshares for sale, filtering by price, location, usage type, points, and more. Once you find a listing you love, simply make an offer! One of our licensed real estate agents will be in contact with you soon.
Buy a Timeshare Resale with Fidelity Real Estate
Are you ready to take your dream vacation? Fidelity Real Estate has you covered. Our secondary market offers a wide selection of timeshare resales for a fraction of the cost of retail. Timeshare resales are a great way to save money while still receiving unforgettable vacations at beautiful resort destinations. Although resales still require you to pay maintenance fees, you will be less likely to have to take out a large loan for your initial purchase, saving you money now and later.
At Fidelity Real Estate, our licensed real estate agents help owners list their timeshares for sale and market them to prospective buyers at no upfront cost. With hundreds of listings from nearly every brand, there is sure to be a resale listing that suits your vacation needs. To get started, browse our timeshare resale marketplace. If you have any questions or need assistance, we’re happy to help! Please give us a call 1-800-410-8326 or email us at [email protected].
Or, if you are looking to sell a timeshare, fill out the form below.
