If you want to get away for a bit and enjoy yourself, you might have an ideal destination in mind. Otherwise, you still might be thinking it over. One of the most common debates vacationers have is a timeshare vs. vacation property. Both options have pros and cons, some of which are listed below.
A timeshare involves sharing the vacation property with others. You pay for part of the property and sign up for a certain time that you want to spend there. When you are not there, other people are likely enjoying it.
Pros Of A Timeshare:
– Timeshares are drastically cheaper than owning a vacation property.
– You can exchange with timeshare owners in different areas and vacation in various places instead of limiting yourself to just one location.
– You’ll feel just like you’re at home, since timeshare condos have everything most homes would have.
– There is less maintenance required than with a vacation home because you’re only there part-time and share the responsibilities with others.
Cons Of A Timeshare:
– You need to make sure that the organization hosting your timeshare is legitimate. There is a reputation for scams among timeshare owners, but a simple background check or internet search can help you find feedback to avoid that.
– Some plans are more flexible than others. You need to make sure your time share plan is flexible enough to accommodate your needs.
A vacation home is just like owning a home where you live and work. The only difference is that this home is in your ideal vacation location and you only visit this home sparingly.
Pros Of A Vacation Home:
– This is your own personal property. No one else can use it unless you desire. If you would rather own a property and not share with strangers, you may consider purchasing a vacation home.
– These are completely flexible. You own the home and everything associated with it. You can go whenever you want for as long as you want.
– If you like decorating, you have full reign over a vacation home. It will look exactly how you want.
Cons Of A Vacation Home:
– Owning another home is significantly more expensive than owning a timeshare.
– You can’t exchange vacation property unless you make a private agreement, so it’s likely you’ll only vacation in this one spot.
Does A Timeshare Or Vacation Property Fit Your Budget?
Deciding the winner of timeshare vs. vacation property depends on your needs, budget, and interests. TalkLocal can connect you with up to three professionals who can help you decide which vacation situation is best suited for you.
