Did you know that the timeshare industry brings in over 10 million dollars a year in sales?
Well, it’s true. But not surprising.
Buying a timeshare comes with plenty of benefits. they wouldn’t be in such high demand if people didn’t get any!
But unfortunately, there can be some negativity surrounding them. Whether it’s scams or people not researching what a timeshare is, it puts a dark cloud over the industry.
So this article is made to help you understand more about timeshares. And tell you everything you need to know.
If that sounds promising, you need to continue reading until the end!
How Does A Timeshare Work?
A timeshare is a housing unit where multiple people have access and ownership.
Each owner will have an allocated period throughout the year. So you will always have the property to yourself, but you can’t show up whenever you feel like it.
Costs and fees get split between each owner. American Resort Development Association (ARDA) states the average costs are over $22,000. This covers taxes, maintenance fees, and other hidden fees that add up throughout the year.
You’re Investing In A Vacation, Not Money
If you only want to purchase a timeshare to make money, then it’s not for you. The only thing you can invest in is a joyful vacation for you, your family, and your friends.
The key reason for going on vacation is to relax and get away from the stresses of life. And that’s exactly what you get from a timeshare.
There’s no stressing about when you can go or trying to figure out where to go and what to do. And certainly won’t deal with horror stories of hotels overbooking or not existing.
Over time, you’ll meet locals, find hidden gems handpick your favorite bars and cafes in the area. And the thought of going back here will give you something to look forward to throughout the year!
Timeshare Options
Not only are there different properties, but there are different ways they’re run. Knowing the different types will help you figure out what the best timeshare is for you.
Points Based Timeshare
The most popular timeshare today. An owner receives points and is used throughout the year. Rather than having an allocated time during the year.
You can use the points in multiple locations. Collect Hilton grand vacation club points if you want to travel more of the world.
Fixed Timeshare
This option is what first comes to mind when thinking about timeshares.
The owner has access to the properties for certain weeks or months in the year. If the original owners know they’re not going to be there during that time, they’ll rent it out. And return to live here during the rest of the year.
Floating Timeshare
This option is great for anyone who likes going away during a certain time of the year. But doesn’t like to be stuck to specific dates.
You have access to the property during a certain period, not the exact dates. For example, you might have access for two weeks during March and April.
Rotational Timeshare Units
If you’re not stuck to a strict schedule in the year, this might be for you.
Your allocated time is rotated throughout the years. In year one, you might get week 30 in the year. The next year it changes to week 16, and the third year changes back to week 30 again.
Is Buying A Timeshare Right For You?
At the beginning of the article, you were asked if buying a timeshare is a good idea. Now that you have a clear overview, it’s up to you to decide whether or not this amazing opportunity is right for you.
If you think that it is, go and check out our travel section to make the most out of your vacation!