Did you know that only 28% of Americans use all of their allotted vacation time each year? If you’re part of that 28%, you work hard each day so you can get the most out of whatever vacation time you’re able to take.
Perhaps one of the best ways to maximize your vacation budget is by investing in a timeshare vacation. With that in mind, there are pros and cons of timeshares, all of which you want to understand well before making an investment of that size.
In this article, we’ll tell you all about timeshare vacations. We’ll go over both the pros and cons, so you can make sure that you don’t end up buying something that you regret owning in a few years.
The Pros of a Timeshare Vacation
There’s a lot to like about timeshare vacations. While you most likely already know many of the pros to owning a timeshare, there are a few benefits that you might not have thought of before.
Below we’ve listed the three biggest reasons why a timeshare could be the perfect investment for you. That way you can decide if it’s worth pursuing or not.
1. You’ll Save Money on Accommodations
One of the biggest benefits of a timeshare is the ability to save money on vacation accommodations. After all, you’re sharing this location with other people. This means that they’re helping pay for it, which of course, cuts back on the amount of money you have to pay yourself each year.
Simply put, if you’re looking for a budget-friendly way to take more vacations, you’re not going to beat owning a timeshare.
2. You Can Stay in Nicer Locations
Not only can you save money on vacations each year by owning a timeshare, but you can also stay at nicer locations, too. In fact, when it comes to staying at luxury resorts, or even desirable destinations, the best way to do so is often via a timeshare.
For example, do you enjoy skiing in Vail? Want to make it a regular thing without breaking the bank? Find a timeshare in the area that allows you to make trips to the slopes an annual adventure.
You can visit Vail more often while spending less money than you would be booking separate vacations each year.
3. You’re Guaranteed a Vacation Each Year
It goes without saying, but you’re going to be spending money on your timeshare each year regardless of whether or not you use it. Because of this, you’re going to be encouraged to use it so you can avoid wasting money on a vacation you don’t take.
This almost guarantees that you’re going to go on at least one vacation every calendar year. That can be a huge positive, especially if you or someone in your family has a hard time breaking away from work to take a trip somewhere.
The Cons of a Timeshare Vacation
Owning a timeshare does come with some drawbacks that are worth noting. And while many of these flaws are self-explanatory, some of them are worth diving deeper into to get a better understanding.
By familiarizing yourself with the cons of owning a timeshare, you can ensure that you make the best long-term investment for yourself and your family.
1. Timeshares Are Hard to Sell
The biggest con to owning a timeshare is the fact that, once you own one, you’re almost stuck with it.
Sure, it is possible to sell your timeshare to someone else. But it’s not easy to do, and in most cases, you end up losing money during the process.
So, if you have any doubts about whether a timeshare is right for you or not, don’t go forward until those doubts are resolved. Because if you buy a timeshare, and then decide to get rid of it, you’re most likely going to lose some money doing so.
2. There Are Random Fees and Expenses
It’s not uncommon for the fees and expenses on your timeshare to increase each year. On top of that, the fees and expenses you start with aren’t set in stone. New fees and expenses can pop up with every new year, which isn’t something anyone likes to deal with.
The good news? Timeshares are still an extremely affordable way to take vacations. Even with these fees and expenses, you’re still going to be saving tons of money on vacations by owning a timeshare.
3. You’re Limited on Where You Can Vacation
Another notable downside to owning a timeshare is the fact that you’re limited on where you can vacation. While it’s possible to stay at a destination that isn’t covered by your timeshare, you might not want to, as using your timeshare is the budget-friendly option.
If you’re still on the fence about timeshares, this article can help you see everything negative that comes with owning one. If you still feel good about the idea after reading it, you can then go forward and start looking for the perfect timeshare for you and your family.
Still Not Sure if a Timeshare Is Right for You or Not?
As you can see, there’s a lot to like about a timeshare vacation, especially if you’re looking to vacation often while on a budget. There are also some notable issues that come with owning a timeshare, mainly getting rid of that timeshare, should you decide you no longer want it.
But as long as you know both the pros and cons of a timeshare vacation, you can make a smart investment that fits you and your family’s needs.
Looking for more vacation tips and tricks? Check back with our blog often for tons of useful ideas and information for your next trip.