There are pros and cons to renting versus owning a timeshare. Depending on your commitment, the value will be completely different. Timeshares are all about convenience, and that is where your decision making will take priority.

Timeshares

How Do I Get Out of my Timeshare? If you’re thinking of ways, then that means there is disappointment with your timeshare type. It could also just be time for you to move on from timeshares completely. No matter the reason, cancellation is straightforward when you follow the instructions from the company. If cancellations are time sensitive, then move fast to prevent an additional charge. But if things get complicated for no reason, then an escalation may be your only recourse.

Renting

Before Air BnB, timeshare rentals made their mark on the world. They are still a popular and affordable way to get an incredible location without the limitations of a hotel or the uncertainness of an Air BnB. But there are two downsides to renting that should always be noted. As far as scams go with timeshares, an overwhelming majority are in renting. That makes it the less secure option, and also the one with the most convoluted contracts. The other con is that the rental contract may tack on additional fees for frivolous reasons. They are small enough to not be an issue, but noticeable enough to be annoying.

Owning

With an owned timeshare, you get guaranteed exclusive access to professionally managed locations. If you travel a lot, then you save more money compared to renting a timeshare. One thing to point out is that although amenities are available for all timeshares, you’ll face less issues if the timeshare is owned. The only downside of an owned timeshare is that it is an investment in a lifestyle. If something prevents you from doing a lot of traveling, you are basically throwing money into the fire.

Which Is Better?

The choice of which is better will come down to the type of traveler category you fall in. People that preplan their vacations in advance will save money with a timeshare rental. But if you tend to do this multiple times a year, that value falls off and you’re better off with an owned timeshare. If you are a bit more spontaneous or tend to vacation a lot during the year, then owned timeshares are the best. They pay for themselves after only two visits, so its easier to justify any extra costs.

Tips

There is no pressure on the consumer to accept a timeshare of any type. If you feel pressure to get a timeshare, then walk away from the discussion. Any type of investment that goes through under pressure is a bad deal for your wallet. And if you were pressured into a timeshare that you don’t want, carefully follow the cancellation procedure. It may be intimidating but is a necessary part of getting out of the commitment.

All Of Your Options

Timeshares are a convenience until you decide that they are no longer beneficial. The longevity of this arrangement will come down to your preference of renting versus owning. Choose the right one, and your money will be well spent.