“How much is a timeshare?” is probably the first question you ask yourself when considering vacation ownership. That and “when can I go on vacation?!” Knowing what the initial, as well as long-term, costs of a timeshare are is important. Understanding these costs will help you make confident and smart decisions regarding timeshares. There are many different factors that go into how much vacation ownership costs. Here is where we will discuss some of the most important things that can influence how much a timeshare can be.
What Affects How Much A Timeshare Is?
ARDA, the American Resort Development Associate, makes yearly reports of financial trends of timeshare ownership. Timeshare ownership is a $10.5 billion industry. To put that into perspective, in revenue, the MLB is a $9 billion industry. The timeshare industry is huge, and growing every year. In fact, there are over 200,000 timeshare units in the U.S. alone! The current average price of a timeshare is $22,942. Alternatively, you can save money by buying a timeshare on the resale market. In addition to the initial purchase price, approximately $2.96 billion was spent by owners at their resorts! So, keep in mind that buying your timeshare isn’t the only expense. Resorts often feature restaurants or activities and excursions that you might have to pay a little extra for. Don’t forget the souvenirs!
The brand that you decide to buy a timeshare with will affect the price. In addition, where you buy it from will also influence the cost. If you buy a timeshare retail (directly from the brand,) you will end up spending more than if you bought it resale. The location of the resort, the brand, and the popularity of the resort will all affect the cost. The number of points you buy, the size of the villa, and the time of year (for weeks-based ownership) will come into play when you’re starting vacation ownership. Additional things that affect how much vacation ownership is includes resort amenities and even the villa’s view.
A cost that comes with vacation ownership is maintenance fees. Of course, the maintenance fee amount is dependent on the individual contract. The resort and size of your unit will affect the fees. Most often, maintenance fees need to be paid yearly. However, some contracts will require biannually, quarterly, or even monthly payments. Failing to, or refusing to, pay your maintenance fees will negatively affect your credit.
A big perk of owning timeshare points with certain brands is vacationing at a different resort every year. Many brands allow you to trade your week at your home resort for one of the brand’s other resorts. However, vacation exchange networks allow timeshare owners to use their points at resorts outside their brand. Networks like RCI and Interval International give owners more flexibility, but at an additional fee. To gain access to their vast networks, you need to buy a membership. Memberships also come with yearly costs, so be sure to research fees with RCI and dues for Interval International.
Buy Timeshares For Less
If you’re ready to buy a timeshare, we’re here to help you save some money! Browse our marketplace of available timeshare resale listings now! You can browse for specific brands and locations or by price. When you find a listing that you love, make an offer! Our team of licensed real estate agents will assist you in getting the best price. We can help you take the timeshare vacation of your dreams! Contact us at (407) 465-5188 or at [email protected] to get started!