Timeshare Expenses: Calculating the True Cost

Even after you’ve paid the purchase price, timeshare expenses keep on coming.

Timeshare owners face rising timeshare expenses every day. And we’re not just talking about the average $22,180 purchase price. Timeshare expenses go way beyond what they cost to buy. In fact, the true cost of a timeshare is much higher than advertised. Here’s what goes into timeshare expenses.

Maintenance Fees

Maintenance fees are the most common timeshare expenses. These annual fees cover the basic day-to-day upkeep of the resort. Things like housekeeping and landscaping and other minor repairs. The timeshare Board of Directors sets fees based on their own priorities. And like pretty much everything else in the world, maintenance fees increase each year. Unfortunately, owners have to pay the fees even if they can’t use their timeshare. And in some cases, the maintenance fees are higher than the cost of renting the same property. No wonder owners get frustrated!

Exchange Fees

Although some people love going back to the same resort year after year, many consumers prefer variety. So, the timeshare market created products to add flexibility to timeshare ownership. Some timeshares give you the ability to stay at other properties or to exchange intervals. However, they almost always charge for the privilege. Typically, there’s a buy-in cost in order to have access to the exchange. And then if you actually do exchange your location or interval, you pay another fee when you make the trade. Hidden fees like these drive consumers crazy. Nobody wants to pay for something they’ve already purchased! Plus, fees are an easy revenue stream for developers, so they get pretty creative about adding them. And they can charge whatever they want.

Travel Expenses

You probably don’t live next door to your timeshare. And that means you pay for travel every time you visit your timeshare. So, if you fly, you’re paying for travel to and from the airport, plus the airfare itself. Don’t forget the $4 bottle of water at the airport gift shop. And if you’re driving, you pay for gas, tolls, and maybe even a hotel room on the road. All of this adds up. If you bought your timeshare dreaming of free vacations, well, you’re probably disappointed.

Timeshare Stress

But not all timeshare expenses are about money. Unfortunately, many timeshare owners find themselves in timeshares that no longer work for them. Maybe they’re paying for a timeshare they can’t use. Or maybe they can no longer afford the costs. Those are stressful problems that invade all parts of your life. Nobody should have to live like that.

Are timeshare expenses adding up for you and your family? Or do the cons of ownership outweigh the pros? If so, we can help. Our consumer advocates specialize in getting people like you out of their unwanted timeshares. Contact us today for a free consultation to see what we can do for you.