Timeshares - Renting Vs Buying
Renting timeshares is a great way to save on vacations today.
The comparison between owning a timeshare and renting one in a financial sense is very different.
With renting, you only pay if and when you want to go.
When you own a timeshare, unfortunately you are paying every year regardless.
It used to be that timeshares could only be used, IF you owned one.
It made sense back then to purchase one because otherwise you wouldn't have had access to it.
However, these days there are thousands of timeshare properties for rent and those who own timeshares are eager to sell their properties so that they can join the renters in a more competitive and financially sound vacation program.
Many timeshare owners are also very eager to rent out their timeshares to recoup their maintenance fees.
The only problem is that owners maintenance fees have gone up so much, they are rarely able to successfully rent it out for what their maintenance fees are because the competition is so much cheaper.
Timeshare units are certainly very nice.
They come with all the amenities and facilities you could ever want on a vacation, but the reality is timeshares don't have to come with a purchase price anymore.
You can simply call up each individual resort and stay there like you would a hotel.
The ball unfortunately is now in the renter's court.
Timeshare owners are so anxious to rent out their weeks because of the bad economy and are willing to rent out for very little.
Therefore, renters are getting the "steal" deals from the owners who are paying way more than they need to for the upkeep of an entire resort.
Another important aspect of timeshare ownership is that most timeshare contracts are in perpetuity.
That's forever! It means that even when the original owner passes away, it goes on to their heirs, successors and assigns.
The pattern never stops, maintenance fees always increase annually, and the debt only continues to grow.
When the risks are so high and the benefits minimal, it is simply better to rent than to buy.
The comparison between owning a timeshare and renting one in a financial sense is very different.
With renting, you only pay if and when you want to go.
When you own a timeshare, unfortunately you are paying every year regardless.
It used to be that timeshares could only be used, IF you owned one.
It made sense back then to purchase one because otherwise you wouldn't have had access to it.
However, these days there are thousands of timeshare properties for rent and those who own timeshares are eager to sell their properties so that they can join the renters in a more competitive and financially sound vacation program.
Many timeshare owners are also very eager to rent out their timeshares to recoup their maintenance fees.
The only problem is that owners maintenance fees have gone up so much, they are rarely able to successfully rent it out for what their maintenance fees are because the competition is so much cheaper.
Timeshare units are certainly very nice.
They come with all the amenities and facilities you could ever want on a vacation, but the reality is timeshares don't have to come with a purchase price anymore.
You can simply call up each individual resort and stay there like you would a hotel.
The ball unfortunately is now in the renter's court.
Timeshare owners are so anxious to rent out their weeks because of the bad economy and are willing to rent out for very little.
Therefore, renters are getting the "steal" deals from the owners who are paying way more than they need to for the upkeep of an entire resort.
Another important aspect of timeshare ownership is that most timeshare contracts are in perpetuity.
That's forever! It means that even when the original owner passes away, it goes on to their heirs, successors and assigns.
The pattern never stops, maintenance fees always increase annually, and the debt only continues to grow.
When the risks are so high and the benefits minimal, it is simply better to rent than to buy.
