The Positives and Negatives of Timeshare Ownership for Families

The Positives and Negatives of Timeshare Ownership for Families : If your family is thinking about purchasing a timeshare, you might be doing some research into if that’s a good idea or not. We’re here to help you with that! All timeshares offer a good option for families who like to go to the same place each year, and who are willing to pay the fees associated with them.

First, we’ll cover the basics of timeshares, then go into the benefits and negatives to owning a timeshare as a family.

What is a Timeshare?

Timeshares are purchased in a shared deed, usually amongst multiple parties or families. These properties are then shared amongst the people who own the deed, usually allotting a certain time of the year that each family can visit the timeshare, making for a fixed yearly vacation. You have to pay year-round for the space, even if you don’t end up going there. While this is ideal for some families who have a traditional vacation spot, some families can find this difficult as they don’t plan on going every year.

Positives of Timeshare Ownership for Families

Timeshares are a great idea for families who have a place they go to at least once a year, and plan on continuing to visit. If your family regularly visits California, for example, you can purchase a timeshare at a resort or near a beach and visit there once a year, making it a fun tradition!

If you’re looking at costs, timeshares generally tend to be less money compared to a hotel or resort room that is smaller and less practical for families. You end up saving money by making your own meals in a fully functional kitchen, and usually you don’t need to stray far from a timeshare saving transportation costs.

Timeshares have special benefits for families as well, with most timeshares having more than one bedroom to separate yourself from your kids and other family members. This privacy is monumental compared to a hotel room, which usually is one room with very little privacy. Additionally, you can cook meals in a fully functional kitchen at your timeshare, enjoy using the washer and dryer, and all the other amenities that a hotel might not have.

Negatives of Timeshare Ownership for Families

While timeshares can be a great idea for some people, other families might have a hard time justifying the cost or return on “investment.” Timeshares can be easy to purchase, but hard to resell. Many timeshares are found on websites like eBay for a dollar or less, meaning that people are selling them for much less than they originally purchased them for. The maintenance costs for timeshares can add up quickly, making it too expensive for some families in the long run.

Over the past several years several timeshare exit companies have emerged that may be able to help you get rid of your timeshare.

Conclusion

Timeshares can be a great idea for families who are traveling to the same destination each year and want a stable place to go each time, complete with useful amenities and cost-reductions during the vacation. If your family likes to travel to multiple places each year, timeshares might not be for you as they’re stagnant. Additionally, many families struggle to resell their timeshares, or to justify the cost of keeping them when they’re not going on vacations as often or the cost outweighs the trip.