For decades, active vacationers have purchased timeshares and enjoyed the luxury of yearly getaways. However, with the upfront cost of timeshare ownerships rising, alongside rising annual maintenance fees, many have begun to wonder whether timeshares are truly worth the price. It’s simple enough to say that if you like traveling and want to do it often, timeshares may be worth it to you. If not, it’s likely the other way around. However, if you’re interested in ownership but are worried about the cost, there are certainly a few factors to consider. Luckily, the timeshare resale market saves owners thousands on the initial cost of their ownership versus retail. So, are timeshares worth it? We think so. But it’s up to you to decide, and you can start by reading the blog below.
What Is a Timeshare? Are Timeshares Worth It?
Before we begin, let’s define what a timeshare is, exactly. Also called a vacation ownership, a timeshare is essentially the shared ownership of a vacation property. This ownership is either shared or fractional, and it is typically divided into weekly increments, with 52 units a year. With the traditional timeshare system, timeshare owners are allotted one week each year at their vacation home, also called a home resort. This is either a fixed week or floating week, which will be explained later, spent in the same room at the same resort. So, with this basic model of timeshares, you are sharing a timeshare property with a number of other owners, yet you “own” a week. However, many timeshare companies today, such as Disney Vacation Club and Hilton Grand Vacations, offer a points-based ownership system, which will be explained more below.
Different Types of Timeshare Ownership
If you’re asking, “Are timeshares worth it?” know that this can really depend on the type of ownership you purchase. While many travelers find that they better enjoy the flexibility and freedom that the points system of ownership allows them, other timeshare owners prefer the tradition of an annual vacation at the same resort each year. There are, of course, other types of ownership outside of the few listed below, but these are arguably the most popular.
Points-Based Ownership
If you’re the kind of traveler who wants the freedom to switch up their vacations each year, then points-based ownership may be for you. With the points system, you purchase a number of points from your timeshare company. Use your points each year to book vacations at properties within that vacation club’s portfolio. In contrast to pure points, there are converted points as well, where your week at your home resort is converted to points to be used at a different resort within the brand. Either way, the points system allows owners to travel flexibly any time of the year and to a number of destinations, unlike a fixed or floating week ownership.
Fixed-Week Ownership
A fixed-week timeshare is exactly as it sounds. With this type of interest, a timeshare owner may visit their home resort one specific week of the year, often staying in the same unit each year. So, if you want to travel to the same resort at the same time each year, this may be a good choice for you. Many timeshare owners love this traditional ownership due to not having to plan ahead and instead having a guaranteed reservation each year. What’s more, having a fixed-week timeshare during a popular week of the year makes it easy to rent out your timeshare should you not be able to vacation one year. So, for those who are looking to start an annual tradition at a specific resort, fixed-week timeshares may be for you.
Floating Week Ownership
Now, floating week timeshares add a bit more flexibility to the fixed-week timeshare ownership. With a floating week, owners can reserve any week of the year (or sometimes, a season) on a first-come, first-serve basis. The pros to this timeshare contract is obviously the ability to choose your week according to your own schedule. If you’re someone who wants to take a yearly vacation at a certain resort but don’t have a set week in mind each year, this is an ideal option. However, the con is not choosing your preferred week in time, thus losing the week you want/need to another owner. Moreover, many vacation clubs allow fixed and floating week owners to exchange their week for stays at other resorts within the brand portfolio, providing a bit more freedom and variety.
How Are Timeshares Worth It?
Still wondering, “Are timeshares worth it?” If you weren’t convinced by the idea of annual vacations alone, don’t worry. There’s more in store. Not only are timeshares ideal for avid travelers looking to vacation each year (and save money while doing so), but they feature top-tier amenities and spacious accommodations that go above and beyond the average hotel and hotel rooms.
Annual Vacations
Now, no one would tell you to make such a purchase without the intention of traveling often. Buying a timeshare is a good investment for those planning on traveling each year until the foreseeable future, especially if you’re purchasing a deeded ownership. Now that we’re clear, owning a timeshare, whether it’s a one-week timeshare at the same location or points to be used across the country, is the gateway to adventure. Not to mention, with vacation exchange companies like RCI and Interval International, the possibilities for your annual vacations are endless. These two companies are often partnered with top vacation clubs and offer exchanges for vacations around the globe.
Generous Accommodations
What’s more, timeshare resorts are known for their spacious accommodations. As your home away from home, these vacation properties offer all the typical creature comforts alongside a stunning resort destination. Unlike the average hotel room, most timeshares tend to feature multiple bedrooms, fully equipped kitchens, washer/dryers, stylish furnishings, and other luxuries you would find in your primary residence. So, whether you’re traveling solo or with the whole family in tow, you’re sure to find an accommodation to fit your specific needs. So, are timeshares worth it? I’m sure you and your family would say yes after a few nights spent in a too-small hotel room.
Resort-Style Amenities
Moreover, timeshare owners indulge in lavish resort-style amenities. Think sparkling oceanfront swimming pools, evenings spent at the spa, a day on putting green, and delicious drinks and dining just steps from your villa. These are the luxuries of purchasing a timeshare ownership. What’s more, when you buy your interest on the secondary market, these pristine amenities will taste that much sweeter.
Are Timeshares Worth It? Breaking Down Costs
The idea behind timeshares is simple: Pay for years worth of future vacations now, and save in the future. A key selling point for vacation ownerships is that the price of vacations has grown exponentially. It’s also likely they will continue to do so in the future.
So, if you were to buy a timeshare today, your timeshare cost would include years worth of future vacations at today’s prices, thus saving you money in the long term. According to the American Resort Development Association (ARDA), in 2022, the average price of a timeshare was $23,940. This was the average for upfront costs for retail timeshares and did not include maintenance fees and other additional fees. No one said the timeshare industry was cheap!
It’s also important to note that a timeshare is not a financial investment. Like a car, your timeshare worth will rarely increase (excluding DVC timeshares). You will rarely ever get back what you paid for it. This is because timeshares are meant to be used. This being said, when owners decide to sell their timeshare points or timeshare weeks, they often end up on the resale market at an unbeatable price. So, if you’d like to save money on a spectacular vacation house, the resale market is a fantastic place to start. In fact, a vacation condo from popular timeshare resorts can be found on the resale market for a fraction of the price of retail. So, are timeshares worth it? They certainly are when you’re saving thousands on the resale market!
Annual Maintenance Fees
Of course, timeshare properties require owners to pay yearly maintenance fees. In fact, even if you’re in a points-based vacation club, maintenance fees are a part of your yearly fees. In 2022, the average maintenance fee was around $1,120, according to ARDA. However, the cost of the fee largely depends on the size of your unit, the resort, and other factors. The annual maintenance fee is intended to keep your resort in motion, covering resort upgrades, employee payroll, and well, maintenance. So, when you pay maintenance fees, you are contributing to keeping your resort both beautiful and modern. However, the cost of this fee is important to consider when asking, “Are timeshares worth it?”
Timeshare Owners Love These Vacation Clubs
Get to know a few of our favorite vacation clubs below, and explore the possibilities of ownership!
Hilton Grand Vacations Club
Hilton Grand Vacations Club offers a flexible points-based timeshare system. With over 150 member resorts and 7,000+ Hilton properties around the world, owners look forward to distinctive stays at truly captivating resort destinations. Unwind with signature Hilton hospitality, world-class amenities, and lavish accommodations everywhere you go. Browse Hilton resales today.
Westgate Resorts
Are timeshares worth it? Westgate Resorts‘ 400,000+ owners certainly think so. This five-star vacation club brand features nearly 30 remarkable resorts across the U.S., taking you to can’t-miss destinations in big cities and scenic escapes. Imagine a ski resort in Park City, an oceanfront suite in Myrtle Beach, and a mountain retreat in Gatlinburg. If you’re searching for a lifetime of spectacular one-of-a-kind vacations, consider Westgate Resorts today.
Marriott Vacation Club
Make vacationing a certainty with Marriott Vacation Club ownership. Marriott offers over 90 pristine timeshare resorts in the U.S. Not to mention, owners can enjoy vacation resorts in the Caribbean, Europe, Australia, and Southeast Asia. Not only are Marriott owners able to access the entire Marriott portfolio with their Club Points, but they can also enjoy access to Sheraton Vacation Club and Westin Vacation Club resorts through the Abound by Marriott Vacations exchange program. With Marriott resales, act on your vacation desires.
Are Timeshares Worth It? Find Out with Timeshares Only
So, are timeshares worth it to you? If so, look no further than Timeshares Only. We promise, we’re not here to put you through a timeshare presentation with pushy timeshare salespeople. As a member of ARDA and the featured reseller for top vacation club brands, Timeshares Only follows a strict code of ethics. This ensures you can buy, sell, or rent a timeshare safely and securely. Not to mention, with listings of up to 70 percent off of the average sales price of retail, you can find your dream vacation home from top resort developers at an unbeatable deal. Browse our resale market below, and make sure to check out rentals, as well!
