How many people actually own timeshares?
The idea was conceived in Europe in the 1960s, and timeshare really arrived in the United States a decade later. They rose in popularity in subsequent decades as a version of second-home ownership that was affordable to those for whom a vacation property would otherwise be out of reach.
The industry is now worth $8.1 billion, with over 1,500 timeshare resorts in the U.S., and more than 7000 worldwide according to the American Resort Development Association. Nearly 10 million U.S. families own timeshares, which can also mean seasonal rights to a home within a vacation club with resort-style amenities.
How much do they cost?
Major hotel brands sell timeshares, which are also sometimes called “vacation ownerships.”
Normally, interested buyers get a “home resort,” to which they purchase deeded interest in a property.
They “entitles you to all the benefits of owning a vacation home without the responsibilities of traditional home ownership.”
Costs vary based on the size and duration of the stay. These days the average purchase price for a new buyer is roughly $22,000. We have to consider that the average cost of a timeshare is that a buyer can use it for one week a year or more, depending on the product or many other possibilities that their program offers. Owners also pay annual maintenance fees, and it can be not cheap depending on the amenities of the properties.
Tips for making good use of the points system in timesharing:
A points system gives owners the ability to use their assigned points, towards a variety of vacations at various locations and times throughout the year. With this flexibility, owners can maximize their investment by using their points for shorter trips or upgrading to upscale accommodations.
Here are some tips for making good use of your points-based timeshare:
Planing: Before the start of the year, plan your vacation plans and dates so that you can allocate your points accordingly.
Be flexible: Flexibility is very important when it comes to maximizing your points. If you can be flexible with your travel dates, you can take advantage of off-season rates and avoid peak season crowds.
Use Exchange: If you own a points-based timeshare, you can use the exchange program to access other resorts in the chain. It can help you maximize your points-based timeshare and explore new destinations.
Take advantage of the bonus: Many timeshare resorts offer bonus time, which is extra time beyond points to extend your vacation.
Consider splitting your points: If you need more points to book an entire week, consider splitting your points and booking a few shorter stays throughout the year.
Upgrade Your Membership: If you can’t use all of your points or want more flexibility, consider upgrading your membership level.
Use your points for more than just accommodations: many resorts offer additional perks and services that you can use your points for.
Book your vacation early: Book your resorts to ensure the best availability and prices.
Be mindful of point values: Understand point values for different resorts and locations.
By following these rules, you will get the most out of your points-based timeshare.
Never let your points expire!