I’ve heard this question many times, especially when friends have just returned from vacation: “Is Timeshares a good buy?” On more than a few occasions, my friends have already bought time sharing and have only been looking for positive reinforcement for their impulsive shopping! These are options for cheap family vacations that should be looked at before you write daiquiri on a time-share presentation.
I guess the answer actually depends. First of all, the usual time sharing will cost you between $ 10,000 and $ 20,000 upfront, which can be financed at a fairly high interest rate (and interest is no longer taxable). You will also have to pay an annual maintenance fee of between $ 500 and $ 1,000. Lastly, you’d better like the resort where you bought the time share, because finding available time shares on more exotic time shares on the dates you want can be very difficult and can cost you more money. If your kids have grown up and you’d rather go to Maui instead of Disney World, get ready for flexibility and patience!
Another option we are increasingly seeing, especially in a bad economy, are discount holiday clubs. They typically charge a subscription ranging from $ 1,000 to $ 10,000, but you never have to pay again, and you have a membership for life. In addition, the attraction of the time share discount club is that you are not limited to certain weeks each year or certain resorts. The world is your vacation option, and you have the option of cruising and all-inclusive resorts. Plus, you don’t have to feel stressed if you miss a year, because your membership is already fully paid. The last advantage I see with discount clubs is that they have resale. In fact, their value will at least stay at what you paid for if you decide to sell.
In my opinion, timeshares are no longer a good buy. You have options that are much better. I know it’s tempting when you’re on vacation and make an offer for a free breakfast and a round of golf if you’re attending a timeshare presentation. You don’t have to buy anything. Well, I know two different couples who own 2 shares each in the same areas of Florida. These presentations can be very compelling while you are relaxed and enjoying your vacation. It’s not so relaxing when you get home and pay monthly timeshare payments wondering what you’re getting into!