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Should I Buy a Timeshare?

Written by Susan Johnston on July 28, 2014 in Real Estate  |   No comments

As the travel season heats up, many Americans will make their annual trek to the family timeshare, perhaps on a secluded lake or a scenic beach. The American Resort Development Association, a trade organization for the timeshare industry, reports that there are currently more than…

should-i-buy-a-timeshare

As the travel season heats up, many Americans will make their annual trek to the family timeshare, perhaps on a secluded lake or a scenic beach. The American Resort Development Association, a trade organization for the timeshare industry, reports that there are currently more than seven million timeshare owners.

Deciding to buy a timeshare

Whether or not you should buy a timeshare depends on how you like to vacation. Timeshare ownership may appeal to travelers who like to return to the same destination year after year and who want to know where they’re staying.

“There’s a lot of intangible, psychological benefit to having ownership interest,” says Bob Diener, cofounder and president of Getaroom.com and a 30-year veteran of the travel industry. “This way, you’re not paying for the entire property, but you have the use when you want it.” In some cases, you can also join a pool of fellow timeshare owners and swap for weeks at other timeshare properties around the world. This is called a timeshare exchange.

“For some, it’s a very satisfying experience,” says Alexandre Mestdagh, a real estate and business law attorney with Mestdagh & Wall in Florida. “It gives them access to resorts and...

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