Getting Started With Timeshares
Don’t you just love a good deal? Timeshares are a great way to save money on vacations. If you’re not familiar with the concept, timeshares are basically like owning your own hotel room that can be used whenever you want!
In today’s world, there are a lot of ways to travel and see the world. With the internet and technology, you can book a trip from just about anywhere. One option that is growing in popularity is timeshares!
If you have not heard of them before or know someone who has been able to use this method of traveling then keep reading. Timeshares allow people to purchase time at an amazing resort which means they get their own room, but also get access to all amenities at that resort!
This can be perfect for anyone looking for an unforgettable vacation with friends or family members. Who wouldn’t love waking up every morning on vacation? Now if you want more information read below on how it works & tips for getting started with timeshares.
Contents
Before you can purchase a timeshare you need to figure out what resort or location will work best for your next vacation.
The first thing that will come to mind is where do I want to go? Just because you have been wanting to travel the world doesn’t mean it’s going to be easy.
If you have never done anything like this before then there are things that you need to keep in mind.
First, every timeshare has its own rules and regulations so it’s important that you know exactly what those are & how they apply to you!
There are also certain dues and fees associated with some resorts which can make them not as fun as others if they end up costing too much money.
When doing your research, make sure you check out any resort’s cancellation policy. Some resorts charge a fee if you need to cancel your reservation, and it can be pretty costly!
Also, keep in mind that most timeshares will require some kind of maintenance fees. These vary from place to place and aren’t too much money – but they do add up over time – so remember that when you’re considering whether or not this is the right choice for you.
Make sure you know what kind of commitment is required by the timeshare (are there penalties if you break the contract early? What about those maintenance fees?) as well as the average costs associated with each one so you’ll be able to plan accordingly.
One big concern with buying a timeshare is that it can be an expensive “pass.” If you’re not able to afford the fees and maintenance, then essentially you’re stuck with a contract you can’t uphold which means no one will want to buy your future stays.
If the timeshare sounds like something you know that you’ll be able to commit to for many years, however, this might just be the perfect investment for you!
You should also think about what sort of vacation experiences you’d like out of your timeshare. Do you want somewhere sunny or somewhere cool? Somewhere nice to relax or somewhere with lots of attractions?
Knowing what type of experience appeals most to both yourself and your family members will help narrow down which resort would best fit your needs – and your budget.
You can also make a timeshare as unique as you want it to be. Some resorts offer villas for two, three, or even four people all sharing one vacation property! There are also family-sized suites which give everyone their own bedrooms and bathrooms… perfect for awkward families on the road!
It’s important to remember that there are some timeshares available that aren’t so luxurious, though. You might find yourself with a small apartment in the middle of town or an old cabin up in the mountains – so always take time to think about where you want to go on vacation before committing to anything.
The first question most people want to be answered if they’re looking into purchasing a new home is ‘how much will I have to pay?’ Although prices will vary depending on the location of your dream vacation home, you can expect to have to pay about half a million dollars for really nice timeshares.
If you don’t have that much spare cash lying around, though, never fear! Many companies are now offering 0% finance options when buying timeshares.
Instead of paying all your money upfront, you can choose to make low monthly payments over an extended period of time. This option is especially attractive if you plan on trading in or upgrading your property within a few years… but it’s definitely not available everywhere!
There are also other forms of payment that may be available in some regions – for example, some companies let you make weekly installments towards the purchase of your timeshare.
Figuring out how much you can spend on a timeshare, and whether or not it’s in your budget, is the first step to taking home that perfect vacation property.
If you have poor credit or are simply looking for a quality investment but don’t have hefty savings, renting may be an ideal way to sample the delights of timeshares… no pressure!
Look around online to find some great deals on short-term accommodations in desirable locations. Not only will this give you the opportunity to try out different destinations, but if you rent from good operators they’ll also help take care of any maintenance issues with your property while you’re away.
This means that when you eventually come back after your trip, your room will be clean and fresh, without a ripped cover or any strange smells to greet you.
If you feel the timeshare is a good investment in your future – meaning you can see yourself making regular use of it in years to come – then take out a holiday club membership instead. You’ll have to pay an initial deposit that will vary from company to company but this should be reimbursed when you reach the break-even point for taking holidays at their resorts.
You can expect this period of membership to last around 10 years, after which time you should receive a lump sum rebate based on how many days you have used up in total at their resorts. For example, if during those 10 years, you have reserved for 15 days each year and there are 180 in total, you should receive (180 x 10) = 1800.
Final Thoughts
Timeshare resorts offer a number of incentives and benefits that make them rather more attractive than holiday clubs or traditional self-catering holidays.
But there is one major drawback with timeshares – if you decide not to use your given weeks for whatever reason, tough luck – they cannot be exchanged or sold on.
This means they generally work out much more expensive than membership schemes because you aren’t getting any value from those ‘free’ weeks without using up resort facilities and amenities at their prices.
There is a lot more that goes into buying timeshares, so we recommend you continue to browse through our content to get a wealth of information on how timeshares could possibly be beneficial to you and your family.
