The timeshare industry is worth a whopping $10.5 billion; across the United States, 1,582 resorts offer timeshares! You might be wondering why they are so popular and considering investing in a timeshare yourself.
Spending your vacation days the same way year after year can get boring. With a timeshare, you don’t have to! You can choose from countless luxuries and experiences that improve your vacation.
With easy access to resorts worldwide at discounted rates, there’s never been a better time to invest in a timeshare. And because of its flexibility, maintenance-free lifestyle, and potential tax benefits, investing in a timeshare is an excellent way to build wealth and create new opportunities.
There are a few key benefits that come with investing in a timeshare. In our timeshare guide, we give tell you about these benefits and why you should invest. Read on to learn what timeshare benefits you could miss out on if you don’t invest.
What Is a Timeshare?
Owning a timeshare allows you to enjoy your own slice of paradise every year. Whether it be for one week or two, these vacation homes are shared among multiple buyers who have paid upfront to guarantee their time at this getaway spot each season.
Timeshares come in two varieties: deeded and non-deeded. They both offer fantastic benefits!
Deeded Timeshare
Buying a fractional ownership of a real estate property gives you an entitlement to a particular portion or percentage of the asset. This type of investment can be passed down from generation to generation, making it a secure and reliable form of inheritance. It is a great way to enjoy the benefits of owning property without bearing the entire burden.
Non-Deeded Timeshare
This is similar to leasing a property. You’re guaranteed to utilize the property for an established amount of time. For example, this could be a few years.
However, you don’t gain ownership rights to it. These are often identified as “right-to-use” or point-based timeshares. You must adhere to your agreement and match it with the period you’d like to use them in.
You’ll then be able to redeem your points at any other timeshare across diverse companies and properties!
Benefits of Investing in a Timeshare
There are numerous benefits to investing in timeshares. Here’s a list of things you can take advantage of.
You Don’t Have to Think About Where You’re Going on Vacation
Timeshares are perfect for those who desire to visit the same destination annually. If you crave routine, stability, and certainty regarding your travel plans, this could be the vacation experience of a lifetime! You’ll love returning each year to a familiar place that allows you time to relax, knowing exactly what awaits.
You can switch your vacation home for one in a different place with the same value or less. However, this will take some extra planning and time, but it’s great to have as an option.
You’re always guaranteed a place in your favorite destination, but you also have the choice to visit somewhere else if you fancy a change for one year. To do this, you must plan and know when you want to go on vacation. You may have to pay extra money to exchange your time or points for another property.
You Don’t Have to Maintain the Property
Although you will have to pay annual dues for the upkeep of the timeshare property, you don’t need to handle maintenance or improvements. The timeshare company takes care of all that with ease!
Owning a timeshare is often seen as an advantage because it requires less responsibility than owning a vacation house or condo. As long as ownership responsibilities are managed efficiently, this lack of obligation can be beneficial when it comes to timeshare ownership.
It Can Be More Financially Accessible Than Buying a Vacation Home
According to the American Resort Development Association (ARDA), an industry advocacy group, the average price for a one-week timeshare in 2019 was $22,942.
Remarkably though, nearly half of all respondents from ARDA’s survey reported that their timeshares cost less than $10,000! This is significantly lower in comparison to purchasing a vacation condo outright.
You Can Buy a Secondhand Timeshare for Less
If you’re looking for an excellent way to acquire a timeshare without paying the total price, look no further! You may be able to find another owner who is willing to transfer their timeshare ownership rights over to you.
You can use a reputable company like Lonestar Transfer to help with the process of changing over timeshare ownership.
Timeshares Are Spacious
A timeshare should be your go-to if you’re looking for extra space. You’ll enjoy bedrooms that are separate from the living area, as well as their own kitchen and washer/dryer unit. Condo companies initially created timeshares to get rid of surplus inventory. This is why they usually mirror condos rather than hotel rooms!
Timeshares usually come with premium facilities such as pools, hot tubs, a gym, and beach access that surpass the quality of a regular hotel. This may vary based on the timeshare property you choose and whether it is being compared to an upscale resort or simply an overnight stay at a budget establishment.
Thinking of Investing in a Timeshare?
Investing in a timeshare can be an excellent way to enjoy your vacations with various bonuses.
Not only will you benefit from spacious, luxury accommodation, but the lack of maintenance required can make them appealing. With all these factors combined, it is no wonder why so many people consider buying into a timeshare ownership program when planning their future trips.
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