If you’re a frequent vacationer, you may have crossed the word timeshare and wondered, “Is owning a vacation worth it?” Deciding whether a timeshare is worth it is purely based on the needs of the person and whether it satisfies their goals. It’s important to take a second and jot down what is and isn’t vital to you on a vacation. So, if you’re a regular traveler and want to know if buying a timeshare is worth it, continue reading to learn more.
What Are Timeshares?
To determine whether a timeshare is worth it, it’s vital to grasp a clear understanding of “what is a timeshare.” A timeshare is a property that’s, on average, three times larger than the average hotel room, so think of them like a villa or condo-style suite. Each property is divided for multiple owners by time. They are most commonly divided into 52 timeshare weeks so that every owner can have one full week at the property. 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.
How Owning A Timeshare Works
Before deciding if a timeshare is worth it, it’s essential to understand how it works. As the name implies, a timeshare is a type of vacationing arrangement where you share time at a resort with other timeshare owners.
Nowadays, there are numerous types of vacation ownership types to choose from. Whether you want to be a partial owner or stay at multiple resorts in sought-after destinations, there’s a timeshare ownership type out there for you!
Shared Deeded Ownership Timeshare Ownership
The owner of a deeded timeshare has a deed to their specific week, and they own it. Timeshare owners can 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 leases are over after 30-99 years, depending on what’s written in the agreement.
Points-Based Timeshares Sub-Type Ownership
Points-based timeshares are the most popular type of timeshare today. You purchase points at a home resort and can use them to stay at your home resort or exchange them to stay at other resorts in the network. You get a certain number of points each year and can use them like vacation currency to book trips where you want and for how long you want.
Fixed-Week Timeshares Sub-Type Ownership
A fixed-week timeshare means you own the right to use your vacation condo during a specific week every year at the same resort. This type of ownership is great for people who want to travel during the same time each year and make one location their home away from home.
Floating Week Timeshare Sub-Type Ownership
A floating week timeshare allows owners to choose the week that they wish to stay at a resort within a certain period of time 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.
To learn more about the types of timeshare ownerships and the different types of sub-type ownerships, read more here: A Quick Look at Types of Timeshares.
Why Owning a Timeshare is Worth It
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. Take a look at the benefits of owning a timeshare, including perks just for owners.
Read More: How To Choose A Timeshare Home Resort!
Owning A Timeshare Is Worth It For Astonishing Amenities
Timeshare properties tend to have plenty of top-notch amenities to utilize. Many timeshare owners can enjoy spacious swimming pools, spas, soothing hot tubs, fitness centers, and much more!
Owning A Timeshare Is Worth It For Spacious Accommodations
Most vacation properties include spacious and luxurious accommodations that typically feature fully equipped kitchens, living and dining rooms, as well as private porches of balconies. So, you can forget about those small and lousy hotel rooms.
Owning A Timeshare Is Worth It For Priority Booking
Undoubtedly, frequent travelers appreciate the ease of priority booking. With a timeshare, you generally will have priority booking at your home resort months in advance. Priority booking gives you more options over non-owners when planning your vacation, especially if you own or want to travel to a high-volume resort.
Owning A Timeshare Is Worth It For Great Family Vacations
One of the best things that does make owning a timeshare worth it is the memories you get to make with your loved ones. You won’t have to worry about planning vacations. You’ll simply be able to go. Buying a timeshare for less means you’ll not only be saving money but also securing vacations for your family for years to come. You can take them to world-class destinations and exciting restaurants, amusement parks, and events every year. Undoubtedly, traveling is a great way to let your family experience more.
Top Of The Line Vacation Clubs
The concept of timeshares has developed a lot since the 70s. Timeshares now feature a vacation club style of offerings. Timeshare companies like Hyatt Vacation Club, Disney Vacation Club, Hilton Grand Vacations, Holiday Inn Club Vacations, and more provide their members 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. You’ll get exclusive offers reserved for owners you won’t find anywhere else. Read more about each brand’s vacation club in our other blogs to decide which club sounds most appealing to you. Making a pros and cons list of prospective vacation clubs can help determine if owning a timeshare is worth it.
Learn more: Are Vacation Clubs Worth It? Here’s What You Need to Know!
Vacation Exchange
Additionally, you can add a vacation exchange membership to your existing timeshare membership and travel to new resorts every year. Most timeshare brands allow members to travel to different resorts within the network for no extra cost! An example of this is WorldMark. Vacation exchange means you can take your family to new places every year. The spacious accommodations at timeshares also make it ideal for families due to their extensive space and ability to allow everyone to vacation comfortably.
Is Owning A Timeshare Worth The Cost?
Of course, the main question you are asking is, “Is a timeshare worth the money?” and the answer is it depends. Some would argue buying a timeshare directly from the resort is not worth the premium price tag. However, there are certain exclusive benefits you can only get when buying retail. Particularly in the case of buying DVC resale versus direct.
The Yearly Cost Of A Timeshare
According to the American Resort Development Association (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. Timeshares are often more luxurious and better equipped than most hotels, which means that you could be getting a great deal. 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. I’ll explain more about that later!
What Are Timeshare Annual Maintenance Fees
Once you purchase a vacation property, you are now a timeshare owner! 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. It’s vital to pay maintenance fees because it covers the beautification of the resort, upgrades to rooms, and the resort amenities among other things.
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, so 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, making sure you get the best use out of it.
Perhaps you want the flexibility to vacation when and where you want. Most top brands, like DVC and Wyndham, offer points-based timeshares. Or maybe you are looking to travel to Myrtle Beach every year at the same time, making family traditions. You might find a fixed-week timeshare on Myrtle Beach worth buying.
Many brands offer different ownership types and resorts. Even better, you can decide exactly what you want if you buy a timeshare resale. Browse our timeshares for sale by price, location, usage type, points, and more.
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. We recommend buying a timeshare resale if you are looking to save money. That way, you can receive incredible vacations, luxurious accommodations, and priority booking while saving. While resales still have 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, we 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 at 1-800-410-8326 or [email protected]. Our licensed agents are happy to help!
Or, if you are looking to sell a timeshare, fill out the form below.
