Real Estate

Debunking the Most Common Timeshare Vacation Myths That Exist Today

About 9.9 million US households own at least one timeshare. Despite timeshare vacations being around for decades, many people still do not fully understand what they are or what they have to offer. This leads to many myths and misconceptions, misleading people into avoiding a potentially smart purchase.

Read about some of the more common myths and the truth behind them to decide if a timeshare vacation is right for you.

You Can Only Travel to One Location

Most modern timeshare contracts are quite flexible. Check out the hgvc cancellation policy for an example of this. If you truly love a particular resort, then you can plan your vacation getaway to that resort each year.

You also have the option of trading your week at that resort for a vacation at another property within the collection. This can open your options up to more locations. You can also work with an exchange company that works with multiple timeshare companies and their owners.

Timeshares Are More Expensive

The initial investment in your timeshare can be more expensive than a hotel stay vacation. However, the value of a timeshare is in the long run. Timeshares with a kitchen save you money by cooking meals instead of eating out for every meal.

You are also paying for your future vacations at today’s rates. This means that once you pay your timeshare off, you can enjoy the benefits with only the annual maintenance bill. Your nightly rate for your vacation is now significantly more affordable.

You Can’t Resell Your Timeshare

If you decide to sell your timeshare on your own, it can take some time and effort. However, if you work with a trusted broker, the process can be simple. The broker will facilitate the sale and ensure an equitable transfer of the timeshare contract.

They Are a Bad Investment

The vacation industry touts that timeshares are a bad investment. In one sense, they are right. Don’t try to buy a timeshare at retail value and then flip it onto the resale market for a profit.

They are a great investment if you take the approach of investing in your family’s future vacations. The best timeshare investments are deals that you find on the resale market. Know what you want and the price you want to spend, and you can find a great investment for affordable future vacations.

The Resorts Are Old and Outdated

The timeshare industry is one that is over 50 years old, so yes, there are some resorts that have seen better days. However, it is an industry that’s constantly growing, which means there are several new options. The increasing competition also means that established resorts need to renovate and evolve to stay competitive.

Look for a resort that has an established track record for reinvestment. This ensures you will have many years ahead of you for enjoyment. You can also look for a company that’s adding resorts so that you have more modern choices in the future.

Purchase Your Timeshare Vacation

As you can see, there’s a lot of misconceptions about investing in a timeshare vacation. If you buy right, you can purchase an affordable vacation package that gives you the flexibility to enjoy vacations for years to come.

Check out our travel articles for more helpful guidance when planning your next trip.

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