Pros and Cons of Owning a Timeshare: Buying Resale vs. New Property

The decision to own a timeshare, such as one from Marriott Vacation Club or Disney Vacation Club, is multifaceted. It requires careful consideration of both the positive and negative aspects. This article explores the pros and cons of owning a timeshare, examines the differences between buying resale versus new property, and provides insights for potential buyers.

Pros of Owning a Timeshare

There are several advantages to owning a timeshare, especially for those who are looking to vacation regularly at specific, reputable properties. Here are some of the key benefits:

Exclusive Amenities and Expert Service

Timeshares at famous brands like Marriott Vacation Club and Disney Vacation Club offer exceptional amenities and service. These properties are renowned for their high-quality accommodations, gourmet dining options, and entertainment facilities. The exclusive service provided by these resorts ensures a relaxing and enjoyable vacation experience.

Opportunities for Corporate or Group Deals

Some timeshare properties offer corporate or group deals, which can save money on vacations for families or groups. These deals are attractive for those seeking to budget for vacations or organize group travel.

Exchange Programs and Versatility

One of the most compelling advantages of a timeshare is the ability to exchange your unit for stays at different properties. This allows owners to experience a wider range of locations and activities. However, the viability of exchanges depends on the quality of the property and the demand/supply balance in the exchange program.

Cons of Owning a Timeshare

While there are many benefits to owning a timeshare, there are also several drawbacks that potential buyers should be aware of:

Hidden Costs and Maintenance Fees

Timeshares often come with hidden costs, such as maintenance fees, amenities fees, and sometimes unexpected assessments. These fees can add up, especially over the long term, and can be a financial burden for some owners. It is important to carefully review the contract and understand all associated fees before purchasing.

Lower Market Value Than Purchased Price

One of the main drawbacks of owning a timeshare is the potential for it to lose value over time. Unlike other investments, timeshares can depreciate in value and may not be worth as much as the original purchase price, particularly if you are purchasing a resale property. This can make selling or trading in the timeshare challenging.

Tight Rules and Restrictions

Timeshare properties often have strict rules and restrictions. These can limit flexibility, such as changing the dates of your stay, upgrading your unit, or even selling or exchanging the property. These restrictions can be particularly limiting for owners who may want to customize their vacation experience.

Buying Resale vs. New Property

Another important consideration when purchasing a timeshare is whether to buy a resale property or a new one. Here’s a detailed comparison of the two:

New Property

Purchasing a new timeshare offers several advantages. New properties often come with the latest amenities and features, ensuring a modern and high-quality experience. Additionally, when buying new, you are more likely to find properties in high-demand locations, such as Hawaii and New York City, which can increase the resale value in the future. However, new timeshares typically come with a higher upfront cost and can also involve additional fees and contracts.

Resale Property

On the other hand, buying a resale timeshare can be more cost-effective. Many resale properties are available at a reduced price compared to new ones, making them accessible to a wider range of buyers. Resale units also typically have exchange options with other vacation owners through reputable exchange companies. However, resale properties come with the risk of hidden costs, lower resale value, and may have restrictions that make selling or exchanging challenging.

Conclusion and Resources

In conclusion, the decision to purchase a timeshare involves careful consideration of both the advantages and disadvantages. Timeshares, particularly from reputable brands like Marriott Vacation Club and Disney Vacation Club, offer exclusive amenities, corporate deals, and exchange opportunities. However, they also come with hidden costs, lower market value, and restrictions. For those considering a resale vs. new property, the choice depends on factors such as budget, location, and long-term plans.

To make an informed decision, it is highly recommended to read the book Everything About Timeshares. This comprehensive resource provides detailed explanations and insights into the world of timeshares, helping potential buyers navigate the complexities of ownership.

Key Takeaways:

Timeshares from reputable brands offer exclusive amenities and high-quality service. Buying new provides access to the latest features but can be more expensive and involve stricter rules. Resale properties are more cost-effective but come with hidden costs and resale value risks. Exchange options and corporate deals make timeshares versatile and flexible.

Understanding these factors will help you make a well-informed decision about whether a timeshare is the right choice for you.