While most people choose to stay in a hotel room on vacation, there are certain benefits of renting a timeshare. These accommodations provide a home-away-from-home feel, without the high daily fees of a hotel, and tight regulations make them an attractive buy. Below are several things for customers to know about timeshares.
What The Buyer Gets
When someone buys a timeshare, they are buying the right to use luxury accommodations in a hotel or resort for a week each year. The buyer gets the convenience and comfort of a vacation home combined with the luxury of a lush resort. Why most timeshares are managed or developed by big hospitality companies, some are owned by independent small entities. A welk timeshare branson mo is owned by a smaller company, so customers will get more personalized service.
What They’ll Pay
The upfront cost of a timeshare is based on its location, its size, its amenities and the time of year when the customer decides to go on vacation. A timeshare for a week-long stay in an upscale two-bedroom condo unit can average about $20,000 for a lifetime of ownership, and many buyers pay in cash. In most cases, owners are responsible for annual maintenance fees of up to $1,200.
Fixed or Floating Ownership
There are two types of timeshares: fixed and floating ownership. With a fixed ownership timeshare, the buyer is locked into a certain week every year. With a floating ownership option, which is far more common, the buyer can reserve vacation time on a first-come, first-serve basis. The floating option comes with more flexibility, but popular destinations may be harder to reserve. Depending on the timeshare’s exchange value or desirability, the buyer may be able to exchange it for another venue within the resort’s property portfolio.
The Bottom Line
In most instances, timeshares are cheaper and more hassle-free than hotel and resort bookings. Property management is greatly simplified, and ownership is more flexible than buying a condo or vacation home. However, buyers should not think of timeshare ownership as an investment because timeshares do not appreciate in value. A timeshare’s value lies in its use, and if the owner is lucky, it may retain some value when it is sold.