Many people have a question when thinking of buying a timeshare. Does it make financial sense or does it make sense at all to buy a timeshare? Well the answer can be both yes or no depending on who is buying and for what purpose it is being bought. In this article we will discuss why it makes sense to buy a timeshare. One of the most traditional answers could be that you own it, but when you rent something you don’t own it. The timeshare industry has grown by leaps and bounds since its inception in this country and many notions that people had earlier have been clarified. Timeshare is no longer a small business. Big hotels and resorts are major players in the timeshare business and is now estimated to be a five billion dollar a year industry worldwide – approximately two million Americans own timeshares! You might be wondering what lured so many people in America alone to buy timeshares. Here are some reasons.
Consider these figures. Let’s say you pay rent for staying in a hotel for a week. Suppose it is $900. If you consider a period of 30 years, multiply the cost of living in a hotel for 30 years by $900. It comes to $27,000. For that money you only get a suite with one bathroom. Now consider this – Instead, you buy a timeshare for $10,000 which has a maintenance fee of $450 annually. The cost for 30 years will be $10,000 plus 450 multiplied by 30. The answer will be $23,500 which is $3,500 less than renting a hotel suite. But here is the interesting fact. You still get to own your timeshare property which will earn some money if not the original price. So your actual expenditure on your vacation will be way less than renting a hotel suite. Then who can ignore the home comforts of a timeshare property. A typical timeshare unit has two or three bedrooms, more than one bathroom, a kitchen, a laundry room and a pool plus all the resort facilities.
Does it make sense now? It does because it also saves you from the hassle of planning your vacation each year because you know when you have to go in turn offering you a guaranteed vacation every year.
How many hotel rooms can accommodate large families and friends? With a timeshare vacation you can invite who ever you want and can host reasonable sized gatherings.
A timeshare is like money lying safely in your bank. You can sell it whenever you want. Not only that if you buy a deeded plan, the timeshare can also be inherited by your heirs.
Compare buying a timeshare with buying a vacation home. You don’t have to worry about upkeep and maintenance. The management company will take care of everything. You just have to pay the maintenance fee for that. But the advantage is that you can live like you are living in a hotel and still feel as if you’re in your own home – minus the upkeep responibilities.
Apart from these benefits, timeshare companies offer you so many discounts like bonus weeks, discounts on airfare, car rentals, attraction tickets, restaurants and much more.