While the advantages of owning a timeshare outweigh the disadvantages, it is always wise to look at both sides of the spectrum before purchasing a timeshare. When timeshare is right for you, it will be the best vacation decision you will ever make. Take a look at the pros and cons below:
Pro – Financial Savings
One of the main motives for purchasing a timeshare is to enjoy the savings you can make over the long term, especially if you like to take regular vacations. You buy your timeshare unit at a price that is fixed today, therefore once you have paid for it, you will be enjoying vacation accommodations at what are in effect yesterday’s prices.
Pro – A Home from Home
You get to own a vacation property that you can call your own without any of the hassles that come with full ownership. You pay your maintenance fees and someone else looks after your apartment for you.
Pro – Yearly Vacations
A side benefit to owning a timeshare is that you are inclined to take regular vacations if only to make the most of your timeshare unit and not leave it empty. Knowing in advance when you are going to travel makes planning a vacation much easier and can even save you money on airplane tickets by booking them in advance.
Pro – Top Destinations
Timeshare companies certainly know what they are doing when it comes to choosing the best locations for their resorts and complexes. Not only will you find timeshare in the best destinations but their locations within the destinations are usually excellent too – beachfront, close to restaurants and downtown activities etc.
Pro – Your Fixed Week Dates are Guaranteed
When you buy a fixed week timeshare, you do not have to beat the crowds for the dates that you want. This is particularly beneficial if you have children in school and can only travel during the school holidays. Likewise, if you always want to escape Christmas, then you can specify those weeks.
Con – Resale Scams
Be careful if you ever decide to sell your timeshare not to trust any cold callers who offer you a great price for your timeshare. They will usually ask for an upfront fee and then never find anyone for your property.
Con – Same Location Every Year
This is not a bad thing for all timeshare owners, in fact many people buy a timeshare precisely because they want to return to the same place each year. Also, owning a timeshare does not limit your choices, you can add your timeshare to a vacation club and then swap your units for other destinations.
Con – What if you can’t use it?
Not being able to visit your timeshare for some reason can seem like a waste of money. However, if the occasion arises, you can always rent or lend your timeshare to friends.