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Get Out Of Your Timeshare

Are you confused about all the mixed opinions you hear about owning a timeshare? Are you wondering if it makes sense? You’re not alone. In fact, many people are unsure about whether or not a timeshare makes sense for them.

On the one hand, some people swear by their timeshare and say it’s the best vacation option. On the other hand, some claim that they are nothing more than a scam. So, what’s the truth? Does it make sense to own one or not?

As with most things, owning a timeshare has pros and cons. In this article, we’ll take a close look at both the good and the bad of timeshare ownership so you can make an informed decision about whether or not it makes sense for you.

What Is A Timeshare?

A timeshare is vacation ownership, where multiple parties have the right to use a specific property or accommodations for a set period. They are usually for a week at a time, and the owners take turns using the property. Timeshares usually have to be reserved in advance, and there may be restrictions on how often or long you can stay.

These vacation homes usually have amenities like pools, golf courses, and restaurants. Some also have exchange programs where you can trade your timeshare for another one in a different location. Timeshares are a popular way to vacation, but they can be expensive, and there may be maintenance fees.

How Much Do Timeshares Cost?

While the cost of timeshares can vary depending on the location and amenities of the property, the average cost for a timeshare interval was $24,140 in 2019, according to the American Resort Development Association (ARDA). Maintenance fees, which cover utilities, housekeeping, and property taxes, typically range from $700 to $1,500 per year. And while some timeshare resorts offer discounts on travel and accommodations, others require owners to pay full price for their stays.  

In addition, there are different types of ownership models, which can also impact the price. For example, some people opt for a points-based system, which allows them to use their timeshare at various resorts. This flexibility comes at a cost, though, as points-based timeshares are often more expensive than traditional ones. 

Ultimately, timeshare ownership costs are determined by a variety of factors, but potential buyers should be aware that there are both up-front and ongoing costs associated with timeshare ownership.

The Pros And Cons Of A Timeshare

A timeshare is a vacation ownership option allowing you to purchase the right to stay at a specific resort or property for a certain period each year. Many people enjoy this because they offer an affordable way to travel and vacation regularly. However, there are also some drawbacks associated with these types of ownership. In this section, we will explore the pros and cons of investing in a timeshare so that you can make an informed decision about whether or not this type of vacation ownership is right for you.

The Pros Of Timeshare Ownership

There are several advantages to having a timeshare. First, you only have to pay for the time that you use. With most traditional vacation ownership options, like whole-ownership condos or vacation homes, you are responsible for paying maintenance fees even when you are not using the property. With a timeshare, however, you only pay for the time you are on vacation. This can be a major advantage if you only take one or two vacations annually.

Another advantage of buying a timeshare is that you always have a guaranteed vacation destination. This can be ideal if you have trouble deciding where to go on vacation each year or if you simply enjoy returning to the same place year after year. With a timeshare, all you have to do is make your reservation and pack your bags—there’s no need to spend hours researching different vacation destinations or comparing prices.

Finally, most offer greater flexibility with their scheduling than other vacation ownership options. For example, many timeshares allow you to choose your week of travel each year, which can be helpful if your work schedule or family commitments prevent you from traveling at certain times of the year. Additionally, many even offer “floating weeks,” which give you more flexibility in terms of when you can travel within a certain time frame. 

The Cons Of Timeshare Ownership

While there are several advantages to owning a timeshare, there are also some drawbacks that you should be aware of before making your purchase. First, most require owners to pay annual fees in addition to their initial purchase price. These annual fees cover maintenance and repairs, utilities, and other costs associated with running the resort property. Additionally, many resorts charge special assessments from time to time to fund major renovations or repairs. As such, it’s important to know all potential expenses associated with a timeshare before making your purchase.

Another potential downside of a timeshare is that it qualifies as real estate, meaning it can be subject to foreclosure if you fail to make your payments on time. Foreclosure proceedings can be costly and time-consuming, so be sure you are prepared to make your payments each year on time before purchasing a timeshare. Additionally, if you decide at some point that you no longer want your timeshare, selling it can be difficult, and you may not recoup your initial investment. 

As with any major purchase decision, it’s important to weigh the pros and cons of a timeshare before making your final decision. For some people, the advantages of having a guaranteed vacation destination and flexible travel schedule outweigh the disadvantages of annual fees and special assessments. However, others may find that the financial commitment involved in having a timeshare is too great compared to other vacation options, such as renting an apartment or staying in a hotel room. Ultimately, deciding whether to purchase a timeshare depends on your unique circumstances and needs.

What Is The Difference Between Fixed And Floating Timeshare Weeks?

Understanding the difference between fixed and floating timeshare weeks can be confusing. Both offer fantastic opportunities to enjoy amenities at your home resort and great exchange value should you decide to explore a new destination. Here’s a quick rundown of the key differences between fixed and floating timeshare weeks so you can make the best decision for your vacation ownership needs.

Fixed Timeshare Weeks

With a fixed timeshare week, you’ll enjoy your vacation at the same resort, on the same week number, every single year. This provides great predictability for planning your annual getaway. Plus, it makes it easy to book other activities and services in advance, knowing that your vacation dates will never change. And, if you have young children who are still in school, a fixed week will always fall during their summer break!

Floating Timeshare Weeks

With a floating timeshare week, you’ll have more flexibility regarding when you vacation. For example, let’s say you own a 1-bedroom unit during Week 52 (the last full week of December). 

With floating week ownership, you could stay in that 1-bedroom unit any week 52 in perpetuity. So if you want to come in early December next year to enjoy some pre-holiday shopping and festive activities in town, you could do so. Or, if you want to wait until January for warmer weather, you could exchange your Week 52 usage for another time of the year. 

Should You Choose Fixed Or Floating Timeshare Weeks?

Both fixed and floating timeshares offer great benefits—it just comes down to personal preference. If you like having your vacation dates set in stone well in advance so you can plan other activities around it, then fixed week ownership makes perfect sense. Or, if you prefer having more spontaneity and flexibility when booking your annual getaway, a floating week might be the better option.

What Do You Own Upon Buying A Timeshare?

After attending a high-pressure sales presentation, you may wonder what you own upon buying a timeshare. There are two kinds of timeshares that you may own! 

Shared Deeded Ownership

With shared deeded ownership, you own a portion of the property where the timeshare is located. This means you have the right to use the property for a certain number of weeks each year. You will also be responsible for paying your share of the property taxes and homeowners’ association dues. One of the benefits of shared deeded ownership is that you can pass your ownership interest down to your heirs.

Shared Leased Ownership Interest

With shared leased ownership interest, you don’t own any part of the property. Instead, you lease your usage rights from the timeshare company for a certain number of years. You will have to renew your lease at the end of the lease term if you want to continue using the property. One advantage of this type of ownership is that there are typically no maintenance fees associated with it. 

Would A Timeshare Exchange Program Give You More Flexibility On Vacation?

The answer is yes! If you belong to a timeshare exchange program, you can trade your  week with another member who owns a timeshare at a different resort. So, if you wanted to vacation in Mexico, you could trade your Hawaii timeshare week with someone who owns a timeshare in Mexico. 

This would give you much more flexibility in where you vacation because you would not be limited to just one location. You could trade your week every year and vacation all over the world! Many types of timeshare exchange programs are available, so be sure to research the one that best fits your needs and preferences.

Timeshare Payment Plans: An Overview

Many people are hesitant to purchase a timeshare because they think they will have to pay for the entire unit upfront. While this was once true, many options for financing a timeshare purchase now exist. You can choose to finance your purchase with a traditional bank loan, or there are specialized timeshare lending companies that can offer you more favorable terms. Rent-to-own programs are also available in some cases. Let’s take a closer look at each of these options.

Traditional Bank Loan

If you choose to finance your timeshare purchase with a traditional bank loan, you will typically be able to take advantage of lower interest rates. However, you will need good credit to qualify for this financing. The downside of a traditional bank loan is that the approval process can be lengthy, and you may not be approved for the full amount you need.

Specialized Timeshare Lender

Many companies specialize in lending money for timeshare purchases. These companies often have more relaxed credit requirements than traditional banks, so you may be able to qualify even if your credit is not perfect. The interest rates offered by these lenders will be higher than what you could get from a bank, but they may be more willing to work with you if you have less-than-perfect credit. 

Rent-To-Own Program

In some cases, you may be able to find a rent-to-own program for timeshares. With this program, you would make monthly payments for a set period, after which you would own the property outright. Rent-to-own programs can be a good option if you cannot qualify for traditional financing but want to own your vacation condo eventually. 

As you can see, there are many different ways you can finance your timeshare purchase if you cannot pay cash upfront. Talk to a sales representative at your resort of choice to learn more about the different available financing options. With careful planning and budgeting, owning a timeshare can be within reach—regardless of your current financial situation.

Hidden Costs That Come With Buying A Timeshare

A timeshare is a real estate property you purchase and then visit for vacation every year. You own a specific unit for a set period, usually one to two weeks. But what other expenses come with buying a timeshare? Below, we’ll explore some hidden costs associated with timeshare ownership.

Maintenance Fees

The maintenance fee is one of the biggest ongoing expenses associated with a timeshare. This is a fee that all owners must pay to keep the property up and running. The average maintenance fee is $780 per year, but it can be much higher depending on the location and amenities of the property. Maintenance fees often increase yearly, so consider this expense when budgeting for your timeshare.

Special Assessments

In addition to regular maintenance fees, there may also be special assessments levied by the timeshare association. These assessments are typically charged when major repairs or upgrades are needed at the property. For example, if the roof needs to be replaced or the swimming pool needs to be resurfaced, all owners will be responsible for paying their share of the cost through a special assessment. Special assessments can range from hundreds to thousands of dollars, so they are something to be aware of before purchasing a timeshare.

Property Taxes

Just like any other type of real estate, timeshares are subject to property taxes. The amount you will pay in taxes will depend on the location and value of your unit. Property taxes are typically paid along with maintenance fees, but some states require owners to pay them separately. Check your state’s rules before purchasing a timeshare to know how much you will need to budget for this expense.


It’s also important to factor in the cost of insurance when considering whether or not to buy a timeshare. Your Homeowners insurance policy may cover some damage incurred while you are away on vacation. Still, purchasing extra insurance for your timeshare unit is always a good idea. This way, you can be sure that you are fully covered in case of any accidents or damage while you are away from home. 

When most people think about buying a timeshare, they only consider the initial purchase price. However, many other expenses come with ownership, including maintenance fees, special assessments, property taxes, and insurance premiums. Be sure to consider all of these costs before deciding so that you know what you’re signing up for!

Is It True That Timeshares Make A Poor Investment?

Investing in a timeshare is a good idea if you want to secure a vacation spot for years to come. But is it true that timeshares make a poor investment? While it’s true that the upfront cost of a timeshare can be expensive, there are many factors to consider when determining whether or not a timeshare is a good investment. For example, the cost of a timeshare includes the purchasing price and yearly maintenance fees. 

These fees cover the costs of keeping the property in good condition and providing amenities for guests. When you compare the cost of a timeshare to the cost of staying in a hotel, you’ll find that it can be a more affordable option in the long run. Plus, with a timeshare, you’ll have the same vacation spot year after year. This is worth considering if you’re looking for an investment that will give you years of enjoyment.

5 Timeshare Financial Benefits

A timeshare can be a great investment for those who love to travel. Not only do you get to enjoy a luxurious vacation in beautiful locations, but you also get to do so without the hassle and expense of booking hotels and airfare each time you want to take a trip. But are there financial benefits to owning a timeshare? Absolutely! Here are five ways in which it can save you money.

Save on lodging expenses: When you own a timeshare, you no longer have to pay for hotel rooms or vacation rentals. Your lodging expenses are already taken care of, which can result in significant savings over time.

Get discounts on travel expenses: Many timeshare companies offer their members discounts on airfare, car rentals, and other travel-related expenses. This can help you save even more money on your vacations.

Enjoy maintenance-free ownership: When you own a timeshare, the resort takes care of all the maintenance and upkeep of the property. This means you won’t have to worry about things like mowing the lawn, shoveling snow, or painting the exterior of your unit.

Have access to exclusive amenities: Timeshare resorts often offer their members access to amenities that non-members don’t have, such as private beaches, golf courses, spas, and restaurants. This can add even more value to your vacation experience.

Build equity over time: Unlike traditional vacations, where you spend money with no hope of ever seeing it again, a timeshare can appreciate in value over time. This means that if you ever decide to sell your timeshare, you could profit from your investment.

As you can see, there are many financial benefits to owning a timeshare property. If you love to travel and are looking for a way to save money on your vacations, then a timeshare may be right for you!

Do We Recommend Buying Timeshares?

A timeshare is a vacation ownership product in which multiple parties jointly own the use rights to a vacation property, usually for a specific period each year. They are an attractive option for people who want to enjoy regular vacations without the hassle and expense of maintaining their own second home. 

When you purchase a timeshare, you essentially buy the right to utilize a vacation property for a certain time each year. This can be a great way to ensure access to your favorite vacation spot without worrying about making last-minute reservations or dealing with the hassles of ownership. 

Timeshares also offer many other benefits, including the ability to exchange your week for another location, the use of on-site amenities, and discounts on travel and lodging. For these reasons, we recommend considering a timeshare purchase if you are looking for an affordable and convenient way to enjoy regular vacations. 


So, does it make sense to own a timeshare? If you’re looking for an investment that will give you years of enjoyment, and if you love to travel, a timeshare may be a great option. There are many financial benefits to owning a timeshare, including savings on lodging and travel expenses, maintenance-free ownership, and the potential to build equity over time. So, considering a timeshare purchase, weigh all the pros and cons before deciding.