Timeshare Cost Assumptions:
- $15,000 money down
- $750 annual maintenance fee
- For 1 week, over 20 years
Paying $186 per night for luxury resort with amenities included, kitchens, washer/dryers and extra living space looks pretty good. As you review these numbers, let’s dig deeper into the pros and cons of timeshare ownership:
- Buying a timeshare locks in the price you pay for a vacation, even when prices rise over 20 years.
- You can exchange your week for another destination, worldwide.
- If you buy a timeshare resale from an owner, and not retail from a developer, your money down costs can be even less or $0 – saving even more money.
- Some resorts are All-Inclusive which includes the price of your meals.
- If you have 2 weeks of vacation and want to stay longer at your destination, you may have to purchase additional nights at a higher rate somewhere else.
- Reselling your timeshare can be challenging if your financial situation changes.
- Special assessments costs (on top of maintenance fees) change every year and are hard to factor into the above equation.