Skeptics and economists are correct when they say that buying a timeshare is not going to make your rich, nor is it going to make you a huge profit were you to sell your timeshare in the future; however, there are other more subtle financial benefits to owning a timeshare that many people do not consider.
Future Vacation Expenses Frozen at Today’s Prices
You get to use your vacation property for the length of the contract (which can be anything from 20 years to a lifetime) having paid an upfront fee calculated at today’s prices. You essentially save on the price of your future accommodation costs as your timeshare eventually pays for itself.
Advance Booking Discounts
When you know exactly where you are going to travel and when, you can take advantage of the best deals on flights. Buying flights in advance usually means you can get the lowest prices.
Shared Maintenance Costs
As opposed to full ownership, timeshare vacation ownership allows you to share the cost of your maintenance fees. In almost all cases, the timeshare operator will take care of the maintenance and all you have to do is keep up with your maintenance payments – no need to look for a property manager or make unnecessary trips to fix a leaking roof!
One Unit Fits All
A way of cutting costs on vacations is to use your accommodation effectively. On the whole, timeshare units are much bigger than hotel rooms. In this way you can utilize the space, including sofa beds etc to make sure you take advantage of the unit’s maximum occupancy. This can easily save you money if you are a big family or if you share with friends.
Using the Cooking Facilities
Timeshare condos usually have fully appointed kitchens and dining rooms, giving you that home away from home feel. The additional benefit this gives you, besides convenience, is that you can save money by eating some meals at home. You can prepare breakfast or evening meals and avoid having to pay restaurant prices every night.
Vacation Club Discounts
If you have your timeshare registered with a vacation club or points system, you are likely to receive additional membership benefits such as discounts on additional vacations, flight promotions and cheap car rental.
Read more: Timeshare – Pros? Cons?