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How Much Do Timeshares Cost? The Real Vs Perceived Cost

September 6, 2017 – by Primo Management Group

How much do timeshares cost? Often, there can be a huge difference between the real and perceived cost.

You stand in awe at the amazing view. You bask in the sun’s warm glow from the balcony of a condo that could be yours.

Your vacation’s almost over.

You’ve enjoyed the nightlife, the beaches, the golf and the shops. You wish you could live here on the Florida coast. But you live somewhere up north, where the winters get cold and the beaches aren’t quite so inviting.

You’re considering buying a timeshare from the company who gave you and your family this amazing experience for free.

But first you need to answer: How much do timeshares cost?

The timeshare business is a nearly $10 billion industry and the number of timeshare owners is growing year over year.

You want to make an informed decision, so let’s explore real vs perceived timeshare cost.

The Initial Purchase

This will be the most straightforward number to consider when you’re looking into how much do timeshares cost.

This “starter price” can vary based on several factors like:

Resort amenities that you’ll share when using the timeshare
Age of the timeshare
Condition of the timeshare and property

If you’re buying the timeshare new in one of those free vacation offers where you sit through a seminar, you can expect a price of about $10 thousand for a run of the mill timeshare.

A luxurious timeshare at a sought after resort could be closer to $40 thousand.

If you buy used like a unit sold on a website where people try to sell their timeshares, a more typical cost would be $1500.

Wow! That’s is a nice round price that even someone on a modest income could afford. Can you really go on a luxury vacation every year for such a low price? That would pay for itself in just 1-2 years!

This is perceived cost for many people.

But as they say, if it seems to too good to be true,…

Annual Fees

In addition to the cost of the unit, you’ll be responsible for paying for the normal things that you would pay for your own home:

Utilities, even when you’re not there, if the unit spends time vacant
Building staffing

When looking into how much do timeshares cost , don’t forget this important expense. You’ll owe this even if you choose not to use the unit in a certain year due to life events or desire to go somewhere else.

The average is around $300-400.

If you use the unit during peak seasons, want flexibility in scheduling or own a larger share of the timeshare, then your annual cost could be $1000 or more.

You may be thinking, well, that’s straightforward enough. I can handle that. But you should know that the timeshare company can increase your annual fee from year to year.

Regardless, of your life circumstances or income, you’re obligated to pay whatever they ask.

Real Estate Fees

When you buy the unit, you’ll be responsible for real estate fees similar to the closing costs on a house. These can vary greatly. They may include:

Appraisal fees
Transfer fees
Recording fees

When you initially look at your contract, it may clearly state “plus fees”. But it’s often unclear how much these fees will be until after you sign the contract.

Unexpected Fees

At this point you may still think that the real price matches up with what you thought timeshares cost. And that might not be so bad.

But there’s more.

In addition, the resort that holds your timeshare may have storm damage, need to repave the parking lot or need a new roof. Rather than set a little of your annual fee aside to pay for these expenses, you’ll get a bill for your share of the expense.

This could be anywhere from a few hundred to a few thousand.

You’ll then have a limited time to pay this unexpected cost. If you don’t pay, you’ll owe additional late fees.

And these kinds of upgrades and replacements are more frequent than you might think. If you happen into a resort that’s poorly managed or struggling, these costs could skyrocket.

Other Expenses

Some people choose to try to find a renter to take over their timeshare when they can’t use it. In theory this sounds great.

They might even pay you more than your annual fee.

But in reality, this almost always costs more than it’s worth in both time and money, through things like:

Finder’s fees
Brokerage fees
Credit check
Background check
Clean up after a tenant who is respectful of your property
Clean up after a tenant who is not

Cost of Getting Out of A Timeshare

The cost of getting out will depend on your contract. You could owe 10’s of thousands of dollars or more in some cases. In some contracts, cancelling isn’t an option after a certain date.

Some timeshare companies will put additional restrictions on how you sell your timeshare and assess fees if you break the rules.

So read your contract to reduce your exit costs.

It’s important to understand that timeshares rarely, if ever, appreciate in value. When you sell your timeshare, it’s highly unlikely that someone will pay anywhere close to what you paid for it. You can consider it a total loss in most instances.

It may even cost you more than you make in the sale in the form of:

Auction fees
Listing Fees
Real estate transfer fees
Credit check
And so on

Selling a timeshare isn’t like selling a home. Basically you’re asking — or begging — someone to take over your obligations to pay the annual fees because you can’t afford it anymore. Timeshares can sell on eBay for as little as $1.

A property in a failing resort may be nearly impossible to sell. In these cases so many people are defaulting that they can’t afford to keep the place up.

The Life Costs

Very briefly, we’d like to share some life costs that should be considered when you ask, how much do timeshares cost really?

For many, timeshares turn from a dream come true to a nightmare very fast. This can take a toll on your mental, physical and financial heath.

Each of these has a cost that may be harder to measure — but they’re very real.

How Much Do Timeshares Cost Really?

Now it’s time to really answer this question. More often than not, it’s more than it’s worth. Or it’s more than you should have to pay.

Know your rights. You do have options. We can help you exit a timeshare contract in the most orderly and cost-effective way. Contact us today to schedule a free consultation .

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Relieve Yourself of the Unwanted Timeshare Burden

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Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.