Vacations and traveling are the best parts of life where one escapes from the routine to cherish the frolics. Having a timeshare or vacation property is like feathers on one’s cap. It is a perfect alternative to booking resorts to spend the holidays at a particular destination. With such shared-vacation ownership, one can own a period and enjoy the fun amenities. If you desire to buy a timeshare to make your vacations fun and amusing, consider some specific, informed facts about it.
What Is A Timeshare?
With the ameliorating trend of spending the vacations in the best way, renting or buying a timeshare is gaining immense consideration. According to the Global Vacation Ownership Market Study of 2019, the timeshare market’s value will witness an inclination at a CAGR of 9.45% from 2019 to 2023. It will reach around US$40 billion in 2023. Some of the noticeable attributes behind the fact are growth in urbanization, international tourism, living standard, and wealth.
To be precise, Timeshare is the vacation property arrangement with shared ownership. These are exclusive resorts, villas or condos where the shared ownership allows the owner to harness the accommodation for a specific period, be it a week or more to spend the holidays.
The statistics mentioned above regarding the increase in the timeshare market prove that people are becoming more enthusiastic about buying timeshares.
Is Timeshare A Good Investment?
Owning a timeshare is one of the substantial decisions for people, especially for travelers. There were few cons in an outdated past timeshare market. Such as:
- Less flexibility in vacations
- Difficulty in selling
- Unexpected feels
- Long-term financial commitment
These drawbacks were the reasons in the past that make folks think twice before owning a timeshare. However, on a happy note, the continuous development and innovation in the timeshare industry have lessened such cons. Surprisingly, the favorable attributes such as more flexible options by more prominent brands, allow one to embrace all the possibilities. Besides, some great timeshare companies make it easy for people to rent out or resell the timeshare successfully.
Further, considering both sides of the concept, there is always a puzzlement- is timeshare a good investment? The below-listed informed facts can help people to finalize the decision.
Comparison of Timeshare and A Hotel
Though both hotels and timeshares are living spaces to devour the vacations, there is a tremendous difference between them. Talking specifically about timeshares, these are more spacious and facilitating in comparison to hotels. Where hotels lack the benefit of private space, timeshares are more convenient with in-built facilities. One can enjoy the perks of in-suite amenities like a pool, tubs, etc. Moreover, equipped with a fully-furnished kitchen, timeshares are a great way of saving the cost of dining.
Cost-Efficiency of Timeshare
Timeshare is genuinely a cost-efficient solution for enjoying vacations. This especially holds for the people who often like to go on vacation. The evident fact is that the average cost of buying timeshares is nominal compared to the lifetime cost of holidays. Amazingly, it helps to eliminate the price that a person would otherwise incur from discovering the hotels, booking the room and amenities. With a timeshare, an owner only has to pay for timely maintenance costs and that too in shares.
Financing Of Timeshare
People who lack sufficient financial funds to buy a timeshare are more reluctant towards it. This is because it is complex to obtain finances for timeshares from a respective bank. Probably, because the value of it does not incline over time, also, it is a little challenging to resell a timeshare. However, this is a partial truth. One can conveniently arrange the financial resources from third-party timeshare financing companies.
Renting A Timeshare
One of the fantastic benefits of investing in a timeshare apart from fun and frolics is fetching money by renting it out. Sometimes, due to one or other reasons, it becomes impossible to take a vacation. During that instance, one can list their timeshare for rent. It will help to cover the annual cost. Contacting the best timeshare company can quickly help to get tenants for a timeshare.
Is It Worth Buying A Timeshare?
Indeed, buying timeshares can be a blurring decision. However, considering the weightage of its pros and cons, it is transparent that investing in a timeshare can be a good idea. This is because not only it helps to enjoy the vacations conveniently but also results in financial benefits. So, if you have made your mind buy a timeshare, choose the leading timeshare marketing company.