Did you know that nearly 10 million people in the United States own one or more timeshare properties?
Although expensive, timeshares are a wonderful way to invest in vacationing in your favorite places.
If you want to learn how to buy a timeshare, you need to understand the costs and influencing factors.
Keep reading to discover how much are timeshares and if they will be the right investment for you!
Initial Fees
Learning how much are timeshares can be overwhelming when you see the initial fees.
The initial fees are typically around $22,000, which is the majority of what you will owe. Most timeshares will give you a few weeks at the location during a set time each year. These initial fees will ensure that your position is locked and you can’t lose your space.
You can work with the financing department to set up a payment plan, but you will save the most money by paying it all at once. It’s common for people to go in on a timeshare together so that multiple incomes can help fund the investment.
Lifetime Cost
Aside from initial costs, you need to consider the maintenance fees for timeshares.
Each year, these fees get adjusted and typically increase due to the cost of living. You should expect to pay about $1,000 annually, but it will depend on the size and location of the timeshare.
If you are on a budget, second-hand timeshares can help you save money. You can also buy a timeshare resale online to find something within your budget.
Location
The property location is one of the largest influences on timeshare costs.
More desirable areas on beaches and resorts tend to cost more money in the long run. If you get a timeshare that is located in a less-populated area, you will save some money. You must pick a location that you will enjoy, however, so that you don’t waste your investment.
It’s common for people to get timeshares in warmer climates, but some also get them for skiing in the mountains.
Amenities
Identifying how much are timeshares worth will come with some research on what all gets included.
Pools, golf courses, and spa services are always nearby busy timeshare brand locations. Higher-end timeshares include extra amenities within the home or have beachfront property. Think about how you will spend your time each year at your timeshare to determine if a location is right for your family.
How Much Are Timeshares Worth to You?
Researching how much are timeshares will require you to pick a location.
Since the location of the timeshare influences overall costs, you should take your time to find the right place. Most people are happy with their investments in timeshares since it guarantees them a vacation each year. You can turn a timeshare into a home for a few weeks and be close to the beach.
Don’t be afraid to ask friends or family to help with the costs and split the property.
Make sure you read our blog for more information about timeshares and enjoying family vacations!
