It is always prudent to look at the pros and cons of any venture that is asking you to part with your money, and timeshare is no exception. While there are many more timeshare pros than cons, it is best to make yourself aware of what you are getting involved in before you sign a timeshare contract.
Financial Timeshare Pros and Cons
PRO: The clearest pro to owning a timeshare is that you will save money in the long term if you use your timeshare every year or are able to rent it out when you cannot use it. You pay for your timeshare at today’s prices and thanks to inflation you will quickly see the economic benefit of your initial investment in just a few years.
CON: The con is that you are not going to get rich renting out your property, so you should not buy timeshare units as a money making venture. It will save you money rather than make you a millionaire.
Destination Pros and Cons
CON: When you buy a fixed week timeshare in a resort, you are tied into visiting the same destination every year. (Although you can always exchange your timeshare using a vacation club for other destinations throughout the world)
PRO: For many people, returning to the same place each year is just what they want to feel like they are part of something and that they have bought a home away from home.
Fixed Weeks Pros and Cons
CON: You take your vacation during the same weeks every year and cannot change them unless you upgrade to a points system or join a vacation club.
PRO: If you have a fixed week during Thanksgiving, Christmas or the school vacations you will be glad to have guaranteed accommodation during these dates.