There are over 1,500 timeshare resorts throughout the United States.
Have you ever thought about buying a timeshare? Do you have questions like “how much do timeshares cost? or “what does it cost to rent a timeshare?”
If so, keep reading to find answers to these and other pressing timeshare questions.
How Do Timeshares Work?
A timeshare is a type of vacation property. Owners share the cost of the property with others in exchange for a guaranteed amount of time there.
How Much Do Timeshares Cost?
The latest data shows that the average upfront fee for a timeshare is $22,942. Annual maintenance fees typically cost around $1,000 per year as well.
What to Know Before Buying a Timeshare?
Don’t have the money to pay for a timeshare upfront? You can finance it instead. However, the interest rates are often quite high (sometimes up to 20 percent), so this is more expensive than buying the property outright.
What do you get in exchange for these fees? There are a few different ways that timeshares divide up time at the property, including these:
- Fixed week: Gives you access to a property for the same week each year
- Floating: Lets you use a property at any time, based on availability
- Fractional: Gives you access to a property for longer-than-average periods each year
- Points: Gives you a chance to buy points to use in different locations and times
If you’re going to invest in a timeshare, be sure to read the fine print and figure out what kind of property you’re paying for.
How to Buy a Timeshare?
You can easily browse available timeshare properties online. When you see one you like, you simply make an offer, just like you would if you were shopping for a house. If your offer is accepted, you’ll move forward and close the deal.
How to Rent a Timeshare?
Timeshare rentals allow you to rent a property from a timeshare owner. This is similar to renting a property from a site like Airbnb and is a good alternative for frequent travelers who want to visit various locations.
How to Sell a Timeshare?
If you want to sell your timeshare, you’ll need to review the clauses in your contract and ensure you include all relevant information in your listing. Then, you can post it for sale with the help of a real estate agent who specializes in timeshare sales.
You can also work with a timeshare exit company if you prefer. They will help you navigate the process and make it as simple as possible.
Ready to Buy a Timeshare?
Now that you’re better versed in the world of timeshares and can answer questions like “how much do timeshares cost?” with ease, are you ready to move forward and buy or rent one?
Remember the information in this guide and you’ll have no trouble making the best choices for yourself and your travel habits.
Do you need help choosing a place to buy a timeshare? If so, the Travel section of our site has lots of great advice. Check it out today.