Sell Your Timeshare
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Cost of Owning a Timeshare

Vail, ColoradoPurchase Costs

Boy, there’s a loaded question. Timeshares will cost anywhere from $500 to $40,000 for one week. The industry average for all timeshares sold direct from the resorts (keep in mind: “all timeshares sold” means blue weeks as well as red weeks, studio units as well as two bedroom units) is $10,080. O.K., here’s the scoop. The junk usually hangs out in the real low end of the price range, just hoping for someone to come along and not know any better. The $40,000 stuff is usually something really special like the Christmas/New Years time frame in Vail, Colorado. And, of course, you bought it right at the resort. A professional resale broker will be able to find the bargains for you. But as a rule of thumb, $4000 to $8,000 for a red week will generally buy you a really nice place that’s easy to exchange around for other places. Prices go up and down, but that’s the general range. Certain very prime locations and certain resorts may command a little higher price, of course.

Annual Maintenance Fees

You’ll have a maintenance fee each year. Maintenance fees cover you for: maintenance of the grounds and common areas, interior housekeeping such as maid service, insurance for storm damage or liability, utilities, management, replacing furnishings and appliances every few years, replacing broken items, and a reserve fund set up to cover the time when it’s time for a new roof, etc. All of these things are necessary to ensure your investment stays up to par. Then, if and when you go to resell it, you have a good looking, well maintained property. One note on maintenance fees: Some people say that this is one disadvantage of owning a timeshare. Not so. Let’s say you rent your vacation by staying at a hotel or renting a vacation home. Are you paying for the cost of maintaining that hotel or vacation home? You’d better believe it. It’s all built into the rent. Think of maintenance fees the same way as money you spend to maintain your own home. It’s money well spent that will come back to you. Maintenance fees will generally run from $200 to $450 once a year, depending on the resort you own, the amenities there and the size of the unit you are purchasing. Also, keep in mind that with timesharing, there are no hidden “hotel taxes” or “occupancy taxes”. These taxes alone can add $150 to $250 to the cost of your hotel bill.

RCI and II Membership

If you want to belong to one of the major timeshare exchange companies, Resort Condominuims International (RCI) or Interval International (II), there’s an annual membership fee (about $90) and a fee if you want them to make an exchange for you (about $125).

About the Timeshare Industry.

 

 

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