What are Timeshare Maintenance Fees?
All timeshares come with yearly maintenance fees, and some of us aren’t exactly sure what that entails. Some of us know that owning a timeshare resale is a great way to lock in a dream vacation spot and save you thousands of dollars. Yet, you may be wondering if timeshare maintenance fees are worth the purchase.
Annual fees, in addition to the initial purchase price?
You may even be wondering, “What do they cover, anyway?”
Those looking to sell their timeshare do so at a greatly reduced price, particularly if one is thinking of buying from the resort itself. While it is a resale, the timeshares are typically no different than if buying it directly from the resort, except you are getting a way better deal. (Rarely, there are slight exclusions or perks not included. Contact us to ask about your resort of choice.)
So, what about those maintenance fees?
Keeping it Classy
Just like owning a home, each resort incurs expenses every year from wear and tear. Items like furniture, appliances, and linens all need to be replaced at some point.
Additionally, landscaping and things of that nature require upkeep.
Maintenance fees also help to cover the costs of employees and services offered at the resort. These fees can range from $200 a year to a little over $1000 annually.
As nice is it would be to know your timeshare expenses each year as an owner, maintenance fees are not set in stone. Depending on what needs updating, the fees are subject to change from year to year. (Although some resorts do have clauses in place to set a ceiling on how much the fee can increase.)
This may seem like a bit much, initially. However, most of the time the cost of staying at the resort for a week greatly outweighs the price of the maintenance fee.
For families, the savings can be even greater.
Another thing to consider is the quality of the resort itself, and what they charge for rental rates. Depending on the location, amenities, and quality, rental rates can be $100 – $500 or more nightly.
For example, staying slope-side at Marriott’s MountainSide will easily cost $2500-$4000 a week during ski season. Maintenance fees are far less for a week in the same accommodations. Since maintenance fees for MountainSide are currently less than $1,500 annually, that’s at least a $1,000 savings EVERY YEAR!
The Gift that Keeps on Giving
Furthermore, renting your vacation accommodations is just money out the window. After your week of fun, all you have (besides those great memories) is a wallet full of bills and receipts.
Owning a timeshare lets you create the same great memories with your loved ones, but you get a deed. You can keep that and pass it along to future generations for continued vacation savings.
Or, when you decide you’d like to explore a new location, you can sell it.
Happy to Help
We have an A+ rating with the Better Business Bureau, and pride ourselves on customer satisfaction.
Contact us any time. We are more than happy to answer any questions or address any concerns you may have about timeshare maintenance fees or anything else involving buying or selling a timeshare resale.