If you love to plan your next vacation, but you don’t like to budget for it, then you might think about buying a timeshare. Timeshares are often overlooked because of “sticker shock” and the exorbitant amount you pay upfront. You are paying upfront for a lifetime of vacations.
Has that ever crossed your mind? Imagine a lifetime of vacations! Okay, with that said, let’s not waste any more time getting into the details.
1. Buying a Timeshare or Renting a Hotel Room?
If you vacation with children or with an extended family, you may find that you must book multiple hotel rooms to accommodate everyone. With a hotel, you don’t know until you get there if all the rooms are in close proximity or if you are on separate floors. When you need to juggle multiple hotel rooms, things can get complicated quickly.
With a timeshare, you have one unit. Typically, you’ll have a unit with one, two, or three bedrooms. This is great for larger groups that are looking to stay close together and not feel scattered across a building.
Even better is that a timeshare has a full kitchen and living room. You feel at home when buying a timeshare.
2. Do You Want Timeshare Points or a Fixed Week?
When buying a timeshare with what is called a “fixed week,” you have a scheduled week at the resort each year. The timeshare industry has made a shift to more of a points-based system for timeshare owners.
A points system means that they promise you vacation time at the “home” resort each year or you can use your annual allotted points for other resorts that are still in their brand’s portfolio.
You can get deeded interest with HGVC resorts (Hilton Grand Vacations Club). HGVC offers a fixed week timeshare ownership, or you can convert to Hilton Points to use at their other resorts.
You’ll want to weigh the pros and cons of a points or fixed week deal to determine how to buy a timeshare that works for you.
3. Can You Rent Out Your Timeshare?
You may find that life gets too busy for one year and you can’t find the time for a vacation. Most timeshare resorts understand this. Renting a timeshare to someone else can also help pay your annual dues.
Timeshare rental is a way that you can make the most of your timeshare. Check with the resort, too, before you purchase a timeshare. It is helpful if they have a referral program to better accommodate you with this.
Who Typically Buys a Timeshare?
Buying a timeshare is for everyone and anyone that values vacation. It’s not just for the older generation. Timeshare owners today include people who are young and diverse.
The average owner of a timeshare is 47 years old. Often, it can be parents that want to create lifelong memories for their families. It’s the time you spend with the people you love at the timeshare that makes them so special and worth every penny.
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We hope you feel more informed with these tips for buying a timeshare. Can you picture your feet in the sand already? We sure can!
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