Should You Get a Timeshare or Buy a Vacation Home?

Traveling the world comes with its questions. From deciding where to go and how to get there to determining what to do and where to stay well after your arrival, there are many factors that can affect travel plans. But what happens when you decide that you want to travel to the same place year after year? Whether you have family in another city or you just truly enjoy traveling, you might consider finding a more permanent spot in your preferred vacation destination. Living in major cities is undoubtedly expensive, so it is important to weigh your options when it comes to having a consistent place to stay.

Should You Get a Timeshare or Buy a Vacation Home?

3 Reasons To Purchase a Vacation Home

1. Owning a home gives full control. From deciding how to decorate the place to being able to store your own belongings there, having a vacation home gives homeowners complete control. If you want to have full reign over how a place looks and feels, owning a home is the way to go.
2. Owning a home gives full availability. If you want to make sure that you are the only ones staying in a house at a given time, owning a vacation home is the right choice. Because timeshares allow people to share a place, there are more opportunities for others to be at your place. Approximately 78% of Americans say they spend time relaxing in their yards once a month or more, according to the National Association of Landscape Professionals. If you want to be sure that no other people will be at your place, you’ll want to own a vacation home.
3. There are no mandated maintenance fees. While owning a home comes with its own set of costs and fees, having a timeshare has required and mandated fees that can cost a pretty penny. In 2016, about 66% of all timeshare owners expressed that expensive maintenance fees made them want to cancel their timeshare. Instead of paying for maintenance fees, owners of vacation homes can use that money to put back into their property.

3 Reasons To Have a Timeshare

1. Timeshares are less expensive. Owning another home is not always in the budget for everyone. If you want to be close to your favorite sports team or be a part of a different region’s lifestyle without spending a lot of money, there are plenty of options for timeshares that could work with your income.
2. Timeshares are managed by other people. Owning a home, though it might give you full control, also requires your full attention. Much like the difference between owning a home and renting an apartment, having a timeshare allows other people to maintain and repair your vacation spot while you’re not there. When you own a home in another place, it’s easy to forget to prioritize maintenance and repairs. In fact, 23% of homeowners have never had any sort of inspection or maintenance performed on their roof. Because of this, vacation homes could have major issues and problems if you’re not constantly keeping an eye on them. With a timeshare, someone else will take care of it.
3. Timeshares offer flexibility. Decide when and how long you want to be somewhere with a timeshare. While you aren’t the sole owner of the place, having a timeshare gives you and your family the ability to decide when you want to go somewhere. You have a consistent place to stay. Ever have a hotel room with unexpected issues? With a timeshare, you know exactly the space that you’ll be staying at before you get there.

Whether you decide to own a vacation home or buy into a timeshare, you have no shortage of options for your trips to other cities. Just be sure to do plenty of research before you make any big decisions.