Why Have Timeshare Resorts Become So Popular?

Timeshare properties are becoming more and more popular due to the fact that there is more flexibility in the use of timeshare property, such as the ability to vacation at other locations thru exchange companies that are affiliated with the timeshare industry.  Additionally, the nature and design of the timeshare properties has become more desirable due to the fact that they are offering many amenities that were not offered in the past such as golf, tennis, bicycling, several swimming pools, walk trails, and dining on property.  Most timeshare properties are located conveniently near theme parks and popular vacation spots throughout the world.  Timeshare ownership is becoming a rapidly growing sector of the tourism industry.  Did you know that in 2007, sales revenue reached in excess of $10 billion?  This was an increase of over $2.5 billion in 1997.  Over 615,000 timeshare intervals have been sold in the United States since mid 2009.  The current average price of a timeshare sold in the United States is in excess of $18,400.  Simply, this means that timeshare ownership is less expensive than it was 10 years ago, and yet, offers more for the vacationing family.

Worldwide, timeshare properties exist in almost 100 countries.  In the United States, there are over 1800 resorts representing over 192,000 units. 

Timeshare properties are available as deeded property in a single location; however, there are variations such as non-deeded ownership, fractional ownership and points-based programs now available at many timeshare resorts.  Many timeshare properties are associated with popular hotel companies to include Disney, Marriott and the Wyndham hotels.  Many of these timeshare resorts have associations with exchange companies such as RCI and Intervals International.  These exchange companies offer the flexibility of allowing you to swap your week in your “home” timeshare resort for a week at another geographical location.

Always keep in mind that timeshare property has one principle in common; that is you are purchasing the “right” to stay in a condo or house in a vacation destination for a designated period of time.

The timeshare industry is one of the most regulated industries.  There are several consumer-protection laws pertaining to the sale and ownership of timeshare property.  This is your assurance that “you get what you pay for”.

So, in closing, keep in mind that timeshare property is NOT an investment in real estate property, but in your future vacations!  If you are seeking the vacation lifestyle of a luxurious condo or home, and want all of the amenities associated with them, then timeshare ownership may be the right choice for you and your family!

To Buy or Not To Buy?

Before you decide whether to buy timeshare property or not, make sure that the concept makes good economic sense.  What you don’t want to do is fork over money for a timeshare property that you will never use or not use enough to justify the cost.  If your situation does not allow you to plan vacations in advance, then timeshare ownership may not be right for you. 

Keep in mind, that in addition to your monthly cost for ownership (unless you are paying cash up front for the full value of the purchase), you also have annual maintenance fees, which in many cases range from $700 to well over $1000 annually.  There may be other additional fees as well.  If you are considering the purchase of timeshare property, make sure you clearly understand what those additional fees are.

Timeshare property ownership is not an investment in real estate.  It’s an investment in your future vacations. You should buy one for the use you can get out of it, not for market appreciation.  Timeshare property looses its value as soon as you close the deal.  The real value of timeshare ownership lies in what you are getting for your money.  As long as you clearly understand that concept, then timeshare ownership may be a wise investment.

Timeshare ownership also provides you with various exchange company memberships giving you the flexibility of vacationing at other timeshare resorts all over the world.  If your desire is to purchase, make sure you understand the exchange company’s programs and any associated fees that may be involved for taking advance of vacationing at other timeshare resort properties.

So, in closing, before you take that 90 minute tour at a timeshare property, make sure you justify in your mind, what timeshare ownership will do for you and your family.  Some of the questions you should ask yourself are:  Do you plan to vacation at the same resort each year, or would you rather choose various destinations annually?  Does the exchange program give you the additional flexibility that you want for your vacation destinations?  Does timeshare ownership provide you with the flexibility when planning your vacations?  Is it right for you?  Take your time, do the research, and you will make the right decision!

To learn more about Timeshareflex, please visit our website.