Timeshare

How much does a time share actually cost?

How much does a time share actually cost?

 

Today we are all aware of how over rated timeshares are. So many promises are made at the point of purchase.  Ffew (very few) of those promises are met. Irrespective of this, it does not mean you can’t have a good time owning a timeshare. Sadly, only a poor number of timeshare owners enjoy their timeshare.

One of the most asked questions about timeshares is: How much a timeshare actually costs?

In 1990 a great timeshare costwas approximately $10,000 – $16,000, with an average annual maintenance fee of $250 – $500. The buyer things that bulk of the cost of a time timeshare comes at the initial stage of purchase. The accumulated cost (annual cost of maintenance- which is prone it increase) turns out to be more expensive than the initial cost.  Today, the average maintenance fee amount is $850 -$1000.   The average increase in maintenance fees is 10% to 12% per year.    When purchasing a timeshare, your contract specifies the duration of your ownership. In most cases, it is in perpetuity.  That means that your estate is responsible, even after your death.      Taking all that into account, the average timeshare owner could be paying over $100,000 in maintenance fees for the duration of their life.

In recent times, the cost of a timeshare ranges from $20,000 to as much as $100,000.  Ut akk depends on the type of contract. As buyers, we are often shown the largest unit, with the best view, with the most luxurious amenities.   It gets the buyer thinking that all the units are the same.   This is not the case.   These showroom units are often the most expensive.  When a buyer cannot afford the most expensive, a lesser unit for a lower price is offered.  Of course, the buyer never gets to see what is actually on the deed and contract.    Instead of the $100,000 unit, the buyer gets a deal at $20,000.   What the buyer does on know is that the lower priced unit is much smaller, has modest furnishings, sometimes is located at a different resort completely, and does not have the view.   The buyer is left disappointed.  

 For more comfortable units the initial cost should be in the range of 320,000 and above. The annual maintenance fee which the follows, has an average of $700 – $800 for one bedroom and $850 – $1000 for a two bedroom unit. The larger unit, the more expensive it will be. You must remember that prices are also affected by week of purchase, location of resort, quality of resort and size of resort.  Simply put, the more comfortable and beautiful the resort, the more expensive it is.

One of the side attractions of a timeshare is the promise of being able to transfer from one location to another, so you can tour round the world with the pay of one timeshare. All this heart melting goodies come at a price. It is said that the average cost for vacation exchange is $100 – $250.  Other resorts have other plans and mode of approach when it comes to timeshare exchange.

When you are done with timeshare and all the troubles attached to the timeshare, most people opt for sale of their timeshare unit. The reality of it is timeshares cannot be sold as easy as they are bought. The owner would most likely pay the closing costs, and usually needs to prepay some maintenance fees.  These incentives can cost thousands of dollars to the seller, with nothing in return.   It is important to note, that very few timeshares sell on the secondary market.    .

 Resale of timeshare can be a bit difficult. The unit acquired is usually sold at a loss. A terrible loss. R

If you are looking to get out of your timeshare, a team of professionals who understand the legal process are available to help you. TS Elimination can help you with your timeshare.   (www.tselimination.com) (888-559-5660)

 

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Ms Vern Brown - Senior Timeshare Consumer Advisor at TS Elimination

Senior Timeshare Consumer Advisor at TS Elimination