Almost everyone knows someone who owns a timeshare. You may quite possibly own one yourself. Well the fact of the matter is, timeshares or vacation clubs are a rapidly growing industry. They've been around forever but now, many popular hotel chains are joining in on the action. Many popular hotel chains such as Marriott, Westin, Hyatt and Hilton, have all began to build vacation club properties all over the world. Vacation Club units in popular destinatiuons can run up to $90,000 or even more at high end properties.
The monthly payments on these units that may be 2 bedroom, 2 bath for use 1 week per year are normally around $400-$500 monthly, ouch! You also are obligated to pay maintenace fees once a year, generally in December right before Christmas. Many owners may pay maintenance fees of $600 a year.
In my opinion, owning a timeshare just doesn't add up unless you are wealthy and have money to burn. What many people do not know is that any of these timeshare properties can in most cases, be easily booked through many travel websites. Travel websites such as Expedia and Travelocity offer stays at many of these properties for $100-$200 a night. I kid you not, the same unit that some poor timeshare owner is paying $400 a month for, plus yearly maintenance fees, can be booked by you on Orbitz for $200 a night. You do the math. Who is getting the better deal? If you are a timeshare or vacation club owner, don't feel bad. I once owned a timeshare myself. I eventually got wise though and sold it. Also, if you just must buy a timeshare, buy resale from a previous owner. You will pay half the cost. Just make sure that their maintenance fees are all current. So my advice to you is, if you really would like to stay at one of these really nice vacation club properties that you've heard about it's very easy. Do yourself a favor by saving yourself $400 a month and just book it through Expedia yourself.
The monthly payments on these units that may be 2 bedroom, 2 bath for use 1 week per year are normally around $400-$500 monthly, ouch! You also are obligated to pay maintenace fees once a year, generally in December right before Christmas. Many owners may pay maintenance fees of $600 a year.
In my opinion, owning a timeshare just doesn't add up unless you are wealthy and have money to burn. What many people do not know is that any of these timeshare properties can in most cases, be easily booked through many travel websites. Travel websites such as Expedia and Travelocity offer stays at many of these properties for $100-$200 a night. I kid you not, the same unit that some poor timeshare owner is paying $400 a month for, plus yearly maintenance fees, can be booked by you on Orbitz for $200 a night. You do the math. Who is getting the better deal? If you are a timeshare or vacation club owner, don't feel bad. I once owned a timeshare myself. I eventually got wise though and sold it. Also, if you just must buy a timeshare, buy resale from a previous owner. You will pay half the cost. Just make sure that their maintenance fees are all current. So my advice to you is, if you really would like to stay at one of these really nice vacation club properties that you've heard about it's very easy. Do yourself a favor by saving yourself $400 a month and just book it through Expedia yourself.
