How to Cut Costs on a Timeshare

Cutting costs at a timeshare can sometimes be very simple. It also can happen before you even purchase your timeshare by finding a vacation property at a good price or renting out your timeshare, if you are unable to use it during your agreed upon time.

Instructions

1. Pay a low price for your timeshare up front. Through research and not taking the first timeshare that you come across, you can cut costs on your timeshare by initially saving money on the purchase.

2. Buy a resale timeshare. There are several reputable companies that sell resale timeshare. Although, like any major purchase, be sure to investigate the company and find out the reason why the timeshare is being sold. Purchasing a timeshare through a secondary company can save you money in the long run and there are no marketing fees or gimmicks that need to be paid for.

3. Rent out your timeshare. If you find that you cannot make it to your timeshare on the week you were supposed to be there, rent out your timeshare to other vacationers and make up some of the maintenance fees you pay each year.

4. Watch for maintenance fee costs. Maintenance fee costs can go up every year, so be sure you have a firm understanding of just how much the increase could be. Also, understand what your maintenance fee is paying for amenities and the upkeep of the property before you even sign on the dotted line.

5. Think of timeshare expenses as vacation purchases. Timeshares should not be purchased as a real estate investment. These types of properties may save you money on vacation expenses over time (10 years by many estimates), but they will not make you money like a real estate investment might.

Tips & Warnings

• Before you purchase a timeshare, research the area and company you are doing business with.

• Talk with other people who own timeshares to see how much they spend overall, including maintenance fees and other unforeseen monetary expenses.