Pros and Cons of Timeshare Ownership

Advantages:

Long-Term Savings: If you shop around, it's usually possible to find a timeshare that (over the long term) will cost somewhat less than a regular hotel room.

Peace of Mind: When you purchase a timeshare you are guaranteed to have a place to stay at a fixed time (no more danger of all the hotels being full). This is good for people that take their holidays at the same time every year.

Ownership: You have the satisfaction of knowing that you are the part-owner of your vacation destination, and may eventually sell your share at a profit.

Revenue: Depending on the resort you choose, there may be a chance for your to offset fees, or even generate a profit, by renting out your suite on weeks that you don't personally use.

Disadvantages:

Up-Front Cost: When purchasing a timeshare, there is nearly always an up-front expense of several thousand dollars or more. Most banks and mortgage brokers have a policy against mortgaging timeshares so you will generally need to have the entire $ amount on hand at the time of purchase.

Lack of Flexibility: In most cases, your holiday is restricted to certain weeks of the year. Although exchanges with other owners are sometimes possible, there are no guarantees.

Lack of Variety: One of the most common objections to timeshare ownership is that most people don't want to spend their vacation time in the exact same place every year. Some companies (especially chains) now offer a way to visit multiple resorts on a single ownership, so this is a feature you should definately ask about.

High Maintenance Fees: Another common complaint is the often astronomical strata fees charged by many timeshare resorts. These fees can run into the hundreds of dollars every month (even when you aren't using your unit), and are something you need to factor into your calculations when comparing resorts.