All You Need to Know about Timeshares

There are many different things you need to know about a timeshare, ranging from how to purchase a timeshare, what a timeshare is, maintenance and fees with timeshares, and how to resell it. While this information is rarely discussed with the resort when you purchase a timeshare, it can be beneficial to know in the long run. In this article, we discuss the pros and cons of timeshare ownership, including how to purchase and resell a timeshare, what timeshares are, what kind of people should purchase a timeshare, and the benefits of owning a timeshare when compared to a hotel or resort.

All You Need to Know about Timeshares
[ image: pixels.com by asad photo maldives ]

What is a Timeshare?

Owned by multiple people, timeshares are properties that offer a permanent vacation spot at a specific location. The people who own the timeshare divvy up the time so that you are allotted a specific time in the year to visit your timeshare. If you don’t go to the timeshare that year, you still have to pay the fees associated with the timeshare.

Cons of a Timeshare

Timeshares can be great for the right group of people, but a lot of the time they’re a bad idea. For example, solo travelers who travel to multiple places a year and don’t stay for long periods of time might not find a timeshare worth it. Timeshares don’t change locations, meaning you have to go to the same place each year. They are also expensive in maintenance fees and don’t resell for a fair cost.

Get Rid of a Timeshare

Many timeshare owners eventually find themselves wondering how to get rid of timeshare maintenance fees. Canceling a timeshare can be difficult if the resort won’t let you out, but there are various timeshare exit companies that may be able to assist you. Timeshare exit companies like WFG and Chuck McDowell are Outstanding in this field and will use lawyers to attempt to get your timeshare canceled and stop future fees.

Resale of Timeshares

Timeshares are expensive to purchase from a resort when compared to the other options, and there isn’t a great resale market for them either. You can find timeshares on sites like eBay for a dollar or less resale value, making their return on investment quite low. 

This can be a positive or a negative, depending on how you look at it! If you’re looking to purchase a timeshare and plan on owning that timeshare for a long period of time, it is smartest to purchase a timeshare from a site like eBay as you’ll save a lot of money and don’t have to deal with the resort. If you’re looking to sell your timeshare, however, it can be bad news because the market isn’t great and you’ll likely lose money.

Pros of a Timeshare

There are many great things about owning a timeshare, one of which being the amenities that come with it. Timeshares are more like a small condo, oftentimes including full amenities like a washer and dryer, a full kitchen, and private bedrooms for family members. If you’re a larger family that loves to travel to the same place each year, timeshares can be a great option because they don’t change, they’re consistent in timing, and they have all the space and amenities you need to vacation on a budget!

Timeshares can be a great option for families and those looking for a more permanent vacation. If you’re a solo traveler or a family who likes to go to many places each year, it wouldn’t be smart to purchase a timeshare, however, because they are more permanent in location and timing and don’t offer any flexibility. If you’re looking to purchase a timeshare, looking at the resale market is the way to go as it offers cheaper prices and no hassle of the resorts.