Are you considering becoming a timeshare owner but unsure how much it costs? If that’s you, we’re here to help answer all your questions about how much timeshares cost. Before committing to vacation ownership, it’s vital to understand all costs associated with owning a vacation home. You must consider all vacation ownership costs like the initial purchase price, property taxes, closing costs, maintenance fees, etc. In addition, the resort itself, the location, accommodation size, week number, and more can affect the cost of your timeshare. While this may give you pause, owning a timeshare has its fair share of perks, including long-term vacation cost savings, guaranteed annual vacations, access to upscale amenities, and spacious villa- and suite-style accommodations. So, if you’d like to get the full scoop on “How much is a timeshare,” continue reading our blog to learn more.
How Much Do Timeshares Cost?
ARDA, the American Resort Development Association, reports yearly timeshare ownership financial trends. Timeshare ownership currently stands as an industry worth $10.6 billion, which is exponentially growing each year. Furthermore, as of 2023, there were over 252,070 timeshare units in the U.S. alone, and more are in development. As of 2024, a timeshare’s average initial purchase price is $24,170 when bought directly by timeshare property developers. While this may sound costly, it’s vital to note that you can purchase a timeshare for thousands less with a timeshare resale from the resale market.
In addition to the initial cost of a timeshare, owners at their resorts spend approximately $6.14 billion annually! To break this down, roughly $1.57 billion was spent onsite, while $4.56 billion was spent in the local communities surrounding the resort. So, remember that buying your timeshare isn’t the only expense. Resorts often feature other costs like restaurants, activities, and excursions for which you may have to pay extra.
What Affects How Much A Timeshare Is?
The brand that you decide to buy a timeshare with will affect the price. More popular brands’ resorts, such as Hilton Grand Vacations and Marriott Vacations Worldwide, are in higher demand than smaller independent resorts. As you’d expect, this demand affects the price to join these vacation clubs. However, with higher costs to join, potential buyers can almost always expect more luxurious amenities and accommodations.
You may see a vast difference in timeshare costs even within the same brand. Things like the location of the resort and the popularity of the resort will all affect the cost of a timeshare. 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 factors affecting vacation ownership costs include resort amenities and accommodation sizing. At the end of the day, there is no one-size-fits-all cost, even for a typical timeshare.
Maintenance Fees
It’s essential to remember that the initial price to buy a timeshare isn’t the only money you’ll spend on your ownership. Maintenance fees are one of the most crucial timeshare costs associated with vacation ownership. Timeshare maintenance fees are the yearly dues that owners pay to their developers. The average yearly cost of maintenance fees in 2024 was $1,260. However, this will differ from timeshare contract to timeshare contract, as well as the unit size, resort, location, and more.
Maintenance fees go towards many different things, including resort maintenance, employee wages, unexpected repairs, and updated amenities. Maintenance fees can also cover any emergency costs from destructive natural disasters.
Why You Should Pay Maintenance Fees
Most often, you’ll need to pay maintenance fees yearly. However, some contracts require biannual, quarterly, or monthly payments. Failing or refusing to pay maintenance fees will negatively affect your credit. With that said, maintenance fees are similar to a mortgage payment, and if you stop paying your mortgage, there are consequences. Not paying your annual maintenance fees may cause you to default on your ownership, which will likely cause financial problems in the future. This means that contrary to what some exit companies may say, you should not stop paying your maintenance fees unless you have entirely sold your timeshare and the timeshare company has confirmed the sale went through. If you are having trouble keeping up with your annual maintenance fees, we suggest you contact your developer to discuss in-house rental programs or find out how to sell your timeshare.
Why Are Timeshares More Expensive Than Hotel Rooms?
You might be wondering why timeshares cost more than a hotel. It’s important to remember that vacation ownership offers more than a hotel. Owning a timeshare means you’ll have almost triple the space, access to luxurious amenities, and other perks depending on the resort where your timeshare is located. Depending on your ownership type, you’ll also enjoy guaranteed annual vacations at either the same resort or a different one. Plus, depending on the resort, you’ll enjoy all the benefits of vacation exchange. So, is vacation ownership worth it? Ultimately, that’s up to you.
How to Save Money When Buying a Timeshare
While buying a timeshare property isn’t exactly cheap, there is a way to make it more affordable: the resale market. Buying a timeshare resale can save you thousands of dollars compared to buying directly from a developer. This is a great way to experience most of the benefits of a timeshare but at a lower cost! For example, buying points at Old Key West Resort directly from Disney Vacation Club has an average upfront cost of $205 per point as of 2024. From Fidelity Real Estate, you can buy points at the same resort for an average price of $95.75 per point. For a 150-point contract, buying resale can save you over $16,300. Of course, there are restrictions when buying resale, but saving that much money might overshadow those restrictions. Remember that you’ll still have to pay annual maintenance fees for your timeshare unit.
The Costs and Benefits of Vacation Exchange
Traveling at a different resort yearly is a big perk of owning points with specific brands. Many brands allow you to trade your week at your home resort for one of the brand’s other resorts. However, vacation exchange networks enable vacation owners to use their points to book vacations at resorts outside their brand.
Networks like RCI give owners more flexibility, but at an additional fee. You need to buy a membership to access their vast networks. Memberships also come with yearly costs, so be sure to research fees with RCI and dues for Interval International. If adding extra flexibility within your vacation ownership to visit new vacation destinations is essential, an exchange network might be perfect for you!
RCI and Interval International
RCI, the largest vacation exchange brand, is part of the Wyndham Destinations Group. This means that all Club Wyndham owners are eligible to join RCI. Other brands within RCI’s catalog include Hilton Grand Vacations Club, Bluegreen Vacations, Holiday Inn Club Vacations, and more! So, someone who owns a timeshare at Wyndham Grand Desert in Las Vegas can trade for a stay at West 57th Street by Hilton in New York City.
Interval International is another extensive exchange network affiliated with Disney Vacation Club, Marriott Vacation Club, Westgate Resorts, Hyatt Residence Club, and more! Marriott’s Aruba Ocean Club owners can trade for a trip to DVC’s Aulani Resort in Hawaii.
The Fidelity Advantage
Ready to become a vacation owner? We’re here to help! At Fidelity Real Estate, we’ve been helping people like you buy a timeshare at their favorite vacation destination. Plus, as a member of the American Resort Development Association, we follow a strict code of ethics that helps to keep timeshare companies, buyers, and sellers safe. When you work with Fidelity, you work with a highly experienced, dedicated team of experts knowledgeable about all aspects of the timeshare industry.
Buy Timeshares For Less
Please browse our online timeshare market and view available timeshare resale listings now! We have listings for resorts from top timeshare companies like Marriott Vacations, Wyndham Destinations, Westgate, and more! Whether it’s a fixed week, a leased timeshare, or a points-based timeshare, our marketplace offers plenty of options. When you find listings for vacation properties you love, make an offer! Our team of licensed real estate agents will assist you in getting the best price. What are you waiting for? Take the timeshare vacation of your dreams! Contact us at 1-800-410-8326 or email us at [email protected] to get started!
Alternatively, if you have a timeshare you’d like to sell, we can help! Fill out the form below to get started today!
