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Vacation planning can be a major headache, even for seasoned travelers like us. But even more so if you are a family with children trying to get away from the hustle and bustle of your busy life. One accommodation type we have been looking into is timeshare which can be a great option for couples and families alike.
What is a Timeshare and Its Benefits
A timeshare is basically a vacation rental, but you own the rights to use the unit and building each year so no one can reserve your preferred week. You share those rights with other people who own the rights to the weeks when you aren’t using the vacation unit. You can opt for the same week each year (like a school vacation or spring break) or if that doesn’t fit your lifestyle, choose a floating week which allows you to book from a set of weeks in a particular season.
One of the biggest advantages of owning a timeshare is the quality level. Timeshares are typically condominium-style units ranging from studios to three or four bedrooms, depending on your needs. There is no need for dining out at expensive restaurants because there are kitchens in most units. No checkout times to adhere to. And you can invite friends and family without having to pay an additional cost.
If you are unable to use your timeshare, you have the option to rent it, sell it, give it away, or donate it. Apparently, you can also join an exchange company and trade your week with owners at other resorts so you can try different destinations.
For families and couples who like to visit the same place each year, we can definitely see the benefits of owning a timeshare. For travelers like us, ownership is probably not our best bet, but we are still attracted by the idea of staying in a resort suite with a kitchen and great amenities from time to time. Plus most timeshare resorts have activities on site and great concierge services to plan your time at a destination, which can really help you to cut costs and hassles.
Owning a Timeshare Resale
While looking into learning more about timeshares, we discovered there’s a flourishing resale market (where owners sell their timeshares either independently or through a licensed real estate agent). It seems like in most cases, buying a resale timeshare is a better option than buying through the actual resort. If you buy from the previous owner, you can save anywhere from 20-70% as owners will sell their timeshare for half or less of the original price that they paid.
There are many places to find resale timeshares on the Internet, but check out this convenient search for a large number of timeshares for sale all in one place. Many new buyers discover that they can buy a unit outright and it ends up being less than the cost of booking a hotel every year.
All in all, buying resale timeshares is a great idea for families and people who travel in large groups, as each year you will be able to vacation in a large, posh suite in your favorite destination while also being able to exchange it for other resorts in the world.
Last Minute Timeshare Rentals
While ownership is not for everyone, renting a timeshare can be. If you are interested in buying, this seems like a great way to try out this type of accommodation beforehand. A lot of times the rentals will be incredibly cheap if you find one a week or two before the unit’s set dates. Owners typically lower the rental price as low as possible if they haven’t received any inquiries so they can have a good opportunity of renting it out before the dates expire.
The one drawback to last-minute timeshares is that you might not be able to obtain your first choice destination or the unit size you were looking for. Options are a bit limited, since most of the popular resorts and unit sizes have already been booked, however if you take your time and do your research you should be able to find something that works for you.