There are many advantages to owning a timeshare, but with any business venture it is wise to look at the pros and cons before purchasing.
- Monetary: Perhaps the main motive for buying a timeshare property is so that you can save yourself money over time. When you purchase your unit, you are in effect securing the cost of your future rentals at yesterday’s prices and will continue to reap the benefits for years to come.
- Frequent Vacations: It is proven that owning a timeshare encourages people to make the most of their vacation time. With a guaranteed week or specified season, owners are naturally encouraged to take advantage of having their accommodation already paid for.
- Best Locations: The larger, well established operators are experts in their field and choose the top destinations to develop their resorts. Most timeshare properties are favorably located in relation to restaurants and local attractions, meaning that your investment will be easy to rent should you wish to.
- Guaranteed Dates: If you buy a fixed week, you are guaranteed the dates that you want every year. You no longer have to battle to get accommodation at super high rates during the summer vacations or the holiday seasons.
- Long Term Investment: If you do not take a vacation every year you will probably not make your timeshare investment back as quickly. You will need to make sure that you rent your timeshare unit when you are not using it to secure a good return.
- Same Location: You might not want to return to the same location every year and wish to travel to a different destination. You will need to join a vacation club or exchange your timeshare privately.
- Resale Scams: You need to be careful not to fall into the trap of resale scams, which can occur when you receive a call offering a great price for your timeshare. You are then asked to pay a fee to receive the potential buyer’s information.