Timeshares do cost thousands of dollars upwards when buying them straight from the developer. However, the reason for these high costs is that you are basically buying a lifetime of vacations in a bulk quantity. People buy timeshares even though they cost so much up-front because when breaking down the price of the timeshare with respect to the cost of vacations over a complete lifetime, a timeshare is much more cost-effective. While a timeshare maintenance fee does exist and can pull a few people away, these are important to update the resort, take care of the essential amenities such as pools, restaurants, fitness centres, etc. and even pay the resort employees. If there is a year when you decide not to use the timeshare, you can always rent it out to someone else to cover the annual dues.
Timeshare Points Vs Fixed Week
A ‘Fixed Week’ in timeshare refers to owning a certain week at a certain resort every single year. The timeshare industry has greatly moved towards membership based on points for owners. In the case of points, you will be eligible for a vacation at a home resort every year or use the allotment of the year for other resorts within the brand’s portfolio itself. Hospitality companies such as Hilton Grand Vacations Club give their timeshare owners a deeded interest at one of their resorts which can be used as a Fixed Week ownership or converted into Hilton Points that can be used at other HGVC resorts.
Timeshare Vs Hotel Room
While on vacation with grown-up kids and extended family members, you might have to book multiple, cramped rooms and make sure that everyone knows which floor everyone is on. This can be a pretty hectic event when planning an outing. Timeshare resorts are well known for providing one, two or three-bedroom units which can comfortably accommodate large families or travel parties. With a timeshare, there is no need to worry about coordinating everyone’s hotel rooms or getting stuck inside a cramped space.
Vacation Clubs Vs Timeshares
Even though the terms vacation club and timeshare are used interchangeably in advertising and conversation, and pretty much mean the same thing, they can be broken down by some minor differences. Vacation clubs are typically provided by brands, such as Marriott Vacation Club or Holiday Inn Club Vacations. Such brands offer timeshare points, which can be used in exchange for locations other than the Home resort. When you own a vacation club membership like Marriott or Holiday Inn, you will be given access to other resorts within the portfolio of the club, not just one. It is just like owning a timeshare but now comes with better flexibility and freedom.