Timeshares are a great way to ensure annual vacations that create unforgettable memories for you and your family. However, whether a timeshare is the right choice often depends on your vacation style. Before jumping into a timeshare purchase, there are some factors of timeshare ownership that are important to consider. Understanding the different types of timeshares, the associated fees, and what to expect from ownership can help you feel confident in your decision. So, is owning a timeshare worth it? Here’s everything you need to know to make the best choice for you.
How Timeshare Ownership Works
A helpful way to determine whether owning a timeshare is worth it for you is to understand your own vacation style and how that matches up with the different types of timeshare ownership. Timeshares have evolved significantly from the original same-week, same-resort model, though that model still exists. Modern timeshares allow you to switch your destination each year, travel in different seasons, and more. Whether you want to stick to the same spot or switch things up each trip, there are timeshare options that may be worth it for you. Continue reading to discover the most common timeshare ownership types.
Is Owning a Timeshare Worth It: Right-to-Use Timeshare Contracts
A right-to-use timeshare is a contract that is set for a certain number of years that you are entitled to use the property. This contract is different from a deed and is a fixed agreement for a specific period at the resort, for the number of years listed in the contract. The typical right-to-use timeshare contract is anywhere from 30 to 99 years. Since there is no deeded property ownership, this type of timeshare is worth it for those who want to enjoy their ownership for life or for a set number of years, without worrying about what happens to it afterward. However, if you want to let go of the timeshare before the contract is up, you can resell your right-to-use timeshare on the resale market.
Is Owning a Timeshare Worth It: Shared Deeded Ownership
Unlike right-to-use timeshares, which are a set contract, deeded timeshares come with an actual deed to a week at a timeshare resort. This is also commonly referred to as fractional ownership and means that when you buy this kind of timeshare, you own part of the property. Deeded timeshares are typically owned in perpetuity. With this, you keep ownership of the timeshare for life and can pass it down, unless it is sold. With partial ownership of the timeshare property, you have the right to sell your property, rent it out, or give it away. This type of ownership is the most similar to owning a vacation home.
Timeshare Ownership Sub-Types
Within right-to-use or shared deeded ownership, there are variations in how and when you can utilize your vacation time. Here are the three primary types of ownership and which types of travelers will benefit the most from each.
Points-Based Timeshare Ownership
One of the most popular today is the points-based timeshare model, which is the most flexible kind. With these types of timeshares, owners purchase points from a timeshare brand at one of its resorts, making that resort their home resort. A chosen home resort is important for points systems because it is the resort that you own at. However, you can use the points that you get each year to stay at any resort within the brand’s collection. This opens up a world of possibilities for other locations, perfect for those who like to explore new places. With these kinds of timeshares, you can travel when you want, where you want, and for the length of stay that you want. If you are a frequent traveler and flexibility and variety are your preferred vacation lifestyle, owning a points-based timeshare is worth it.
Fixed Week Timeshare Ownership
When you think of a traditional timeshare, you probably think of a fixed week. This means the same property, during a set week, every year. Ownership of a fixed week allows you to return to a vacation property year after year, helping build tradition. Many owners even stay in the same unit at the resort each year they return. Owning a fixed week does not always mean you are tied to the same location. Many timeshare companies that sell fixed weeks also offer the opportunity to opt into vacation exchange programs. These programs allow you to trade your specific week at your resort for a week at another resort, even beyond your developer’s collection.
One of the biggest draws of this type of timeshare is the minimal vacation planning required and the guarantee of a getaway every year in a place you love. If you enjoy vacations in a familiar place each year, owning a fixed week timeshare is worth it.
Floating Week Timeshare Ownership
Floating week timeshares allow owners to reserve stays at their preferred property during specific time periods each year. Developers often break the year into seasons, such as summer, fall, winter, and spring. Or, they may do it by which seasons are busy for that specific property. This could mean winter in a ski destination or summer in a tropical location. With this kind of ownership, there is more flexibility than fixed weeks when it comes to when you travel. However, this does mean it requires more advanced planning, as reservations can fill up. If you want to stay in the same place but have the option to choose your travel dates, floating week timeshares are worth it for you.
Is Owning A Timeshare Worth It: Accommodations and Amenities
Vacation club resorts are famous for the luxurious accommodations that they have. This reputation stems from timeshare resort accommodations that go far beyond the average hotel room. They are typically suite-style villas with multiple bedrooms, dining rooms, and living areas. It is also common for them to have in-unit laundry and full kitchens, which makes traveling with kids easy.
Convinience and relaxation are a huge deal for timeshare resorts, and their amenities reflect that. Many timeshare resorts offer on-site dining, pools and hot tubs, fitness centers, and more. They also offer a range of amenities kids will love, including dedicated kids’ clubs and on-site water parks. Adults will appreciate taking advantage of amenities such as on-site spas and bars during their free time. Some brands’ ownership also offers access to special owner lounges and other perks.
Is Owning a Timeshare Worth It: Annual Maintenance Fees
Timeshare maintenance fees are annual fees that support the resorts’ operations, covering everything from staff salaries to general maintenance. Because it recurs annually, it is an important financial obligation to consider before signing on the dotted line. The best way to do this is looking at the average prices of maintenance fees at resorts you’re interested in. You should also understand how they have changed over time. Different destinations may require different types of maintenance, for example, saltwater corrosion at coastal resorts or repairs related to ice and snow at ski resorts. Once you understand how much you’ll be spending on ongoing fees, you can proceed with buying a timeshare with confidence.
Saving on the Initial Timeshare Cost Makes Owning Even More Worth It
After learning about the different types of timeshares and what they mean for owners, hopefully, you have found the right fit for you! Now, you may be looking for the best deal possible on the timeshare of your dreams. Good news, you can save money by shopping on the timeshare resale marketplace! As previously mentioned, timeshare owners can sell their timeshares if they no longer fit their current lifestyle. With this option, they are often motivated to find a new buyer. This means they will sell their timeshare for prices that you cannot find directly from developers. You may even find yourself paying a fraction of the price when buying a timeshare.
It is important to note, however, that the resale price reflects only the upfront cost, and you will still be responsible for ongoing maintenance fees. However, although you won’t be saving on the yearly maintenance fees post-purchase, the amount you can save on the initial timeshare transaction can go towards years of maintenance fees. If saving on incredible vacations with all the benefits of ownership year after year sounds like a good deal to you, then owning a timeshare off the secondary market is worth it!
Timeshares Only is Your Go-To Timeshare Resale Marketplace
Timeshares Only is a trusted timeshare resale marketplace where you can find your dream timeshare ownership at a lower initial purchase price. With a wide range of timeshares across hundreds of popular destinations, fantastic ownership deals are waiting for you. From warm weather destinations to the best winter wonderlands, our resale marketplace has it all!
Already Own a Timeshare and Want to Sell?
Timeshares Only has been helping owners like you successfully sell their timeshares for over 30 years. With an A+ rating from the BBB and recognition by ARDA (American Resort Development Association), Timeshares Only is trusted by owners all over the world. Want to get started on the process of selling your timeshare, or get some more information? Reach out by email or phone call, our friendly team is happy to help.
