Chris Heller
Chris Heller, Keller Williams RealtyPhone: (800) 800-2978
Email: [email protected]

Owning a Timeshare Home

by Chris Heller 11/24/2019

Image by Steve Heap from Shutterstock

If you love vacationing at the same place every year you may consider investing in a timeshare property. This can often help control vacation costs and planning time. However, owning a timeshare home may not be not the right choice for everyone. It is important to understand that a timeshare is not like other real estate because you do not own the property yourself. Carefully consider what that means before signing a timeshare contract.

Should You Invest in a Timeshare?

Timeshare properties are homes that are co-owned. Similar to condominiums, the units usually have several rooms that allow more than one family to share the space at the same time. Each owner has the right to use the home for scheduled periods each year. If you are considering a timeshare investment, here are the advantages and disadvantages associated with owning such property. 

Advantages

  • You have a vacation home every year: If you own a timeshare property, you save some vacation planning time each year. You won’t have to deal with booking hotel arrangements or spend time determining a destination.

  • Scheduled time: If you vacation during the same timeframe every year, this is a great option because you won’t have to worry about having good accommodations available to you when you want to use them.

  • Cost-efficient: When you calculate how much you spend on hotel bookings whenever you go on vacation, you may realize it is more cost-efficient to buy a timeshare property. 

Disadvantages

  • Your vacation is restricted: Owning a timeshare property makes it difficult for you to vacation whenever and wherever you’d like. If you like to visit new destinations or vary your vacation weeks each year, a timeshare may not be the best fit. 

  • Additional expense: If you opt to exchange the timing or destination of your timeshare stay, you may meet with considerable fees during the process. You may also be billed for routine maintenance, utilities, taxes, and other fees related to the timeshare complex itself. 

  • Difficult to sell: It is often difficult to sell a timeshare if you decide you do not want it anymore. You might end up selling at a loss as timeshare value tends to depreciate over time.

Before investing in a timeshare home, weigh your cons against your pros to determine if it is the right decision for you. You might find it just as cost-effective to purchase a vacation home in your favorite location that you own outright. In some cases, you could even rent it out to other vacationers when you’re not using it to help pay for the mortgage. Contact your real estate agent for professional advice on buying the right vacation home for your situation.

About the Author
Author

Chris Heller


Chris Heller has built one of the most successful real estate teams in the United States. From his selection as Rookie of the Year in 1989 to being the top-producing agent in San Diego County and the #1 Keller Williams associate in all of North America, Chris has earned the respect of colleagues and clients for the exceptional results he delivers.

Under Chris' leadership, the Chris Heller Team has sold literally thousands of homes. In fact, he has sold more than 100 homes a year every year for the past two decades. During a five-year stretch of one of the most challenging real estate markets in history, his sales volume totaled more than $450 million.
Chris has succeeded in a highly competitive marketplace through his leadership, drive and ability to assemble and empower high-performing teams. The specialized members of the Chris Heller Team provide unrivaled market knowledge and client service.

Chris also serves as the owner and operator of several Keller Williams market centers and has helped build Keller Williams into one of the largest and fastest growing real estate franchise operations in the world. In 2011, Chris was asked to lead Keller Williams Worldwide. Under his leadership, Keller Williams has expanded into more than a dozen countries, including Dubai, Indonesia, Mexico, Portugal, Turkey, South Africa, the United Kingdom and Vietnam. Chris' deep connections to real estate leaders throughout the world provide his clients with a unique global perspective and exposure to international buyers and sellers.