Benefits of Renting versus Buying a Timeshare
Timeshares were all the rage a few years ago. In fact, many timeshare owners are still holding onto their investments. However, if you’re looking into vacation property, consider the benefits of renting over ownership. Timeshare rentals provide a cost-effective way to enjoy the advantages of living in a resort property without the downside of making a long-term commitment.
All the Comforts of Home
When you compare the cost of renting a hotel in a desirable area, leasing a timeshare wins out. You’ll find the accommodations and perks make this an attractive option as well. You have more space and privacy, and you can entertain or dine at home rather than going to expensive restaurants for every meal. This is especially attractive if you’re taking the whole family on vacation.
Renters also have access to property amenities such as open floor plans, on-site activities that are geared toward age or lifestyle, pools, tennis courts and more. The common areas are also better preserved because they’re privately owned, and residents are more carefully screened.
When you purchase a property, you get the benefits of tax deductions and property appreciation. However, you also forgo flexibility. Working with a real estate company that manages a large vacation rental portfolio gives you choice in where you spend your time and money. Depending on availability, you can enjoy a ski vacation in one location and fun in the sun at another property, all while retaining the benefits of staying in a private home. Unlike buying a timeshare with a fixed occupancy range, you also have more leeway when scheduling a time for your getaway if you rent.
The Price Is Right
Companies such as Concierge Realty carry a selection of high-end housing options that allow their clients to live like VIPs even on a limited budget. If you like to return to a favorite vacation spot year after year, consider the cost and time savings of knowing that you have an affordable luxury accommodation waiting for you. Renting also allows you to try before you buy. This limits regret later if the property you choose isn’t suitable for your needs. Because timeshares are jointly owned by multiple people or organizations, you can usually lease a timeshare for much less than the cost of renting a private home or condominium.
You have nothing to lose from timeshare rentals other than hours of relaxation in a prime location of your choosing.