Is a Timeshare Really Cheaper Than a Hotel When Going on Vacation?
Many people struggle when deciding if they should rent a hotel room or purchase a timeshare when they go on vacation. It can be hard to know which is cheapest, especially if you vacation to a particular place often and know that you can make a long-term investment in a timeshare. However, overall, timeshares tend to be more expensive when you buy them for their first face-value, meaning from a resort or a hotel. If you purchase a timeshare online, you can find resales for much cheaper that might be worth the investment in comparison to a hotel room. That being said, overall it is cheaper to buy a hotel room for the duration of your stay.
What is a Timeshare?
Timeshares are vacation homes that multiple people share ownership on. The people who then share ownership decide who stays at the timeshare at what time during the year, taking turns to spend time in the space purchased. Timeshares can be a great option for large families who vacation to the same location each year and need amenities like a washer and dryer and a full-sized kitchen. Timeshares are fairly cheap to purchase, but expensive to maintain and manage. Additionally, they don’t resale for the price you bought them for, making your return on investment low and unreliable.
Timeshare Resale Prices
One of the problems with timeshare ownership is that there isn’t a great market for resale. In fact, you can find timeshares being sold on eBay for as low as a dollar. If you’re determined to purchase a timeshare rather than rent a hotel room, it might be smart to purchase a timeshare from an owner rather than a resort or a hotel. That way, you’re saving money at the start which can make it worth it in the long run.
Getting Rid of a Timeshare That Won’t Sell
Another issue with timeshare is how hard it can be to get rid of the timeshare when you no longer wish to be an owner. Fortunately, there are several timeshare exit companies that may be able to assist with your timeshare cancellation. One such company is called Wesley Financial Group and it has several positive reviews online.
While hotels can be costly for some, they are ultimately the cheaper alternative to timeshares for solo travelers and smaller families. Hotels and resorts offer amenities that can sustain travelers for a short period of time, and often are cheaper for short stays. Additionally, if you’re looking to spend time in various locations, timeshares won’t work- they offer a more permanent location that is inflexible in both location and time. Hotels don’t have any restrictions about where or when you’re staying, meaning you can book wherever you want whenever you want.
While many people do purchase timeshares for a permanent location spot at an agreeable price, solo travelers and those who want to see multiple places might have a harder time justifying the cost of a timeshare over a hotel. Hotels offer flexibility in dates and location, and offer attractive amenities and costs compared to a timeshare. If you’re looking to travel without the restrictions that timeshares put into place, and without all the hidden fees and costs of a timeshare, it would be smarter to book a hotel.