Does a Timeshare Make Sense to Own for a Frequent Traveler?
Depending on how often you travel, you might be looking into purchasing a time share for your vacations. However, if you’re a single traveler, buying a timeshare might not make the most sense for the amount of money you would be spending, and the fees associated with a roaming timeshare. In this article, we explore II and RCI, as well as what a timeshare is and why it’s not a good idea to buy a timeshare as a single frequent traveler.
What is a Timeshare?
A timeshare is a property that is shared by multiple parties as a shared deed. You purchase a timeshare and are allotted time for that property, in which you can stay there and use its facilities. In addition to being expensive in fees and maintenance, timeshares are usually in one specific place unless you buy with II or RCI.
What is II and RCI?
II stands for Interval International. They are a group that sells vacation ownership, meaning that you can purchase a timeshare that is transferable to other parts of the world. They currently serve over 80 countries. They seem to make sense on the surface, but once you dive in to all the fees associated with II, you realize quickly that the price isn’t worth it for a single frequent traveler, although it could be worth it for a family. RCI is a larger company, with over 4,300 affiliated resorts in 110 countries. While they are well-known through the timeshare and vacation exchange community, they are also expensive to a single frequent traveler. In fact, the fees that RCI and II have in place outweigh the cost of a hotel stay in almost all the countries they service.
The fees that RCI and II have in place outweigh the cost of a hotel stay in almost all the countries they service.
Are Timeshares a Good Idea for Frequent Travelers?
If you are a single frequent traveler looking in to the prospects of a timeshare, you might be starting to realize it probably isn’t the best idea. Timeshares can be very expensive for one person, and for frequent travelers in particular because of their usually set schedules in when you can travel to the timeshare. In addition, it can be expensive to have a roaming timeshare like II and RCI, as they require additional fees and charges. Timeshares are a good idea, however, for families who travel to the same location often, or who are able to afford a vacation exchange. If you are a frequently traveling family, it might be the right option for you, but single frequent travelers will find the fees outweigh the benefits.
How To Exit a Timeshare
At some point in time you may find yourself using your timeshare less and less. Perhaps your family has grown and you no longer vacation like you used to. In these situations, timeshare exit companies may be able to help you get rid of your timeshare. A company like X Timeshares may have the services you need to stop your maintenance fees once and for all.
Making sure that you know what amenities your timeshare has can also be a big factor in why you choose to purchase or not purchase a timeshare, as the price might fluctuate depending on what you have to go off the property for.
Ultimately, timeshares aren’t the best of ideas for frequent travelers. Rather than looking into a timeshare, it can be less expensive to explore hotel and Airbnb options. RCI and II can be expensive options, although they seem convenient on the surface. Making sure that you know what amenities your timeshare has can also be a big factor in why you choose to purchase or not purchase a timeshare, as the price might fluctuate depending on what you have to go off the property for. Additionally, the value of timeshares also doesn’t hold up, reselling for less than you usually purchase them for, making them an unwise investment for a frequent traveler.