The benefits of owning a timeshare

The purchase of a timeshare is a way to own a piece of a vacation property that you can use, generally, once a year.
If you’re considering buying a timeshare, so you’ll have a place to vacation regularly, you’ll want to understand the different types and the pros and cons.  There are two types of timeshare ownership: fee simple, which is the deeded ownership of real estate, and certificate, which is a lease that allows use of the property under terms the lease specifies. Timeshare buyers may purchase fixed or floating weeks, or purchase points that can be redeemed for a choice of weeks or locations.

Why buy a timeshare

Timeshare  Accommodations

When you choose your timeshare, you pick the amount of space for your own situation, from a studio apartment to a three- or even four-bedroom unit. Unlike hotel rooms, many timeshares are spacious and offer a fully-equipped kitchen, a dining room and a living room. Amenities including hot tubs, Jacuzzis, a fireplace and an entertainment center may also be available. Owners enjoy a washer and dryer and home cleaning services.

Onsite and Nearby Amenities

If you like predictability, you have a guaranteed vacation destination.

Typically, timeshares offer on-site amenities such as swimming pools, tennis courts and hot tubs. Many have fitness centers, and even spas offering treatments for health and beauty. Off-site activities are often located conveniently nearby, including family activities such as boating, skiing, golfing and water sports. Special children’s activities may also be available. When choosing timeshare destinations, whether using your own timeshare or “swapping” for another, you will undoubtedly be close to the attractions of your choice. Some timeshares even offer cruises.

Value, Flexibility and Convenience

Unlike a vacation home which may be vacant part of the year, you only pay for what you use. Thus, the use of a very expensive property could be more affordable; for one thing you don’t need to worry about year-round maintenance. Many people find that they save money by owning a timeshare. One advantage is that you can lock in future vacation accommodations at today’s prices, and you have the option to rent your timeshare space or share it with family and friends. Timeshare owners have the flexibility of choosing where and when they want to travel, the amount of vacation time they would like to spend, and the size of the unit. Typically, timeshare owners belong to an exchange, and can “swap” their units yearly for another destination worldwide. Timeshare owners may be able to vacation at another time of the year and group allotted weeks together for future vacations. For convenience, many timeshare owners are required to pay a yearly maintenance fee to the resort, eliminating monthly maintenance fees, utility charges, tax, insurance and cleaning services. Timeshares are a form of ownership that can be willed to family members. You may be able to rent out your block of time if you can’t use it, although some timeshare contracts may not permit this and website exchange services may charge you to play matchmaker.

Exchange Programs 

You may be able to trade times and locations with other owners, allowing you to travel to new places, allowing each one to experience a different place in the world every couple of years. Some companies have locations all over the world including South America, the Caribbean, Europe and Australia, as well as dozens of locations around the United States.
Only Pay for What You Use
Unlike a vacation home, which you pay for throughout the year but only use for a few weeks, you only pay for a timeshare during the time that you are using it. Because you are sharing the cost with others, there is much less financial strain throughout the year.
You can also rent out your timeshare if you do not plan on using it that year and save the money for other things. Having control of your timeshare allows you to decide who rents from you and it also allows family members or friends to take advantage of your timeshare.

Maintenance Free

A timeshare takes care of itself. Annual maintenance fees insure your timeshare and resort upkeep and any repairs that it may need. Your fees also pay for on-sight management and insurance so there is always someone looking after the property, which cannot be said for vacation homes or condos that may sit vacant for months at a time.
Guaranteed Vacations
A timeshare is a guaranteed vacation. If you are bad at organizing your vacation days, then a timeshare is a vacation destination that is guaranteed to be there one week a year. This can make it easier for you to save for and make plans for your annual vacation. Your contract usually requires that the property be occupied by you once a year. If you enjoy visiting the same place every year, this is a good way of securing your vacation.

Cheaper, Roomier Alternative to Hotels

Hotels are great for some, but anyone who has traveled with a large group of people or children can tell you that the accommodations are not ideal. Staying in a nice hotel is expensive and adding extra rooms compounds the cost so that a week in a hotel for a family of four can quickly climb into the thousands of dollars. Timeshares are most often modeled after two bedroom, two bathroom condos and include a living room, laundry and fully stocked kitchen which can cut out costly restaurant dinners every night.