How much do timeshares cost?
The purpose of this article is mainly help you determine what do time shares cost in the workd and deduce how much is a timeshare in Mexico, now that his country is widely know in the timeshare field, also learn more about this industry and how the cost of timeshare can be very volatile.
How much does a timeshare cost? How much is a timeshare in Mexico? The fares can also differ from one country to another.
According to some travel magazines and newspapers, timeshares have “revolutionized” the way to vacation, making it one of the fastest growing sectors of the travel industry and creating the perception that a timeshare is an intelligent investment and great way to spend quality time with your beloved ones, but this is just the tip of the iceberg. A real timeshare cost is based on many other factors.
What is really intriguing besides the cost of a timeshare is the rest of the information that is hidden under the water. Everything happens for a reason, and sometimes the reasons are wrong. Timeshare sales practices are often high-pressure and fraudulent. When attending a timeshare presentation; people are put into a 2-4 hours nightmare where they are told over and over again how great it would be for them to buy a timeshare, and how much are timeshares worth investing in, to the extent that it gets annoying and even aggressive.
On one side are the resorts, claiming that buying a timeshare is a good investment and a fantastic way to vacation, and on the other side are the dissatisfied owners, who are desperately looking for solutions to get rid of their properties. All of this has created lots of confusion on how much do timeshares cost, and if it’s really worth it to purchase one.
How much do timeshares cost – The variables
There are some variables that determine how much do timeshares cost. The cost of a timeshare will depend on:
- The size of the resort
- The age of the resort
- The resort brand
- The location
- The current market demand
- The amenities
The cost of timeshare also relies on the economic position the potential buyer has. A salesman can sale the same timeshare unit from $10,000 to $30,000 USD, depending on how much the person is willing to pay. The purchase cost of a timeshare, if you buy from the developer, can go from $5,000 to $200,000 USD. According to BudgetTravel.com, the average cost to buy a timeshare for a week is $15,000; this price does not include the extra cost of timshare. These extra costs are the ones that make the difference between buying directly from the developer and buying on the resale market. Different story happens on the resale market, where you find properties from $1 USD.
How much do timeshares cost – Extra costs
Since a timeshare will be like a partial residence, there will be a tax implication. It would be great if by getting a timeshare you’d only have to pay the purchase price, but along that purchase come the annual fees you have the responsibility to pay. This fact alters the perception given by the resorts on how much do timeshares cost. If you buy a timeshare for 20 or 30 years, you have to keep in mind you will have to pay those fees whether you use your timeshare week or not, and the fees won’t stay fixed, they will increase while the time goes by. The fees and the taxes depend enormously on the value of the timeshare and the location.
The real timeshare cost can be deduced adding up the price plus and estimation of the following factors.
- Extra Costs:
- Maintenance fee: Depending on the running timeshare resort, it can go from $450 to $750 per year.
- Membership fee: Some resorts charge a membership fee that goes from $90 to $200 USD.
- Assessment fee: An assessment fee is nothing but an extra charge made to the owner when the resort is going through a reshuffle or a restyling.
- Transfer tax: If you are not happy with your purchase and are planning to sell it or rent it, it will be applied a transfer tax.
- Make sure you read the fine print of your contract for you to know which fees you will have the responsibility to pay.
How much do timeshares cost – The amenities
There is hardly a difference between the amenities provided to regular clients that the amenities provided to timeshare owners. The units are already furnished and they count with a daily housekeeping and maintenance service. Most timeshare units are larger than an ordinary hotel room, looking more like a suite, equipped with a living room, a kitchen and a hot tub in some cases.This influence in how much is a time shae worth buying.
Timeshares used to be considered unique and as a luxury, but now they are just like any other resort suite. There is nothing special about them. The amenities you will receive with your purchase depend on the timeshare running resort, and as it was mentioned, they are on more variable that determine what do timeshares cost. The more amenities the resort has, the more expensive the timeshare is.
How much do timeshares cost – Is it worth it?
Straight up and simple: No. By simple logic, a timeshare needs to be seen as an expensive purchase and not as an investment.
So, how much do timeshares cost?
Before making a timeshare purchase you have to think objectively, despite all the promises you will be told in order for you to buy a timeshare. Ask yourself how much is a time share of a good investment, why are thousands of people putting their properties on sale? Very simple, because it is really hard to keep on with the annual payments, and with the economy as it is now, it is important to manage our money properly and keep our credit record clean, for the sake of our families.
If you look up on sites like tripAdvisor or Complaints Board, lots of timeshare owners who share their dissatisfaction about how much are timeshare and how much are timeshares and how much they want to get rid of the properties, claim that the main reason they want to do so it´s not really the timeshare cost but the raises on the annual charges. Timeshare companies raise the maintenance fees to the point owners think it´s exaggerated. You wouldn´t belive how much are timeshares sales people are criticized oh these blogs.
Another common complaint from the owners is they could never get a reservation for the dates they wanted to use their own property, even after years of keeping the fees covered, this is also another reason why owning a timeshare is not really worth your money. They could not even enjoy it.
Timeshares in Mexico
Mexico is a country that has the second place in world sales of timeshare membership as well as in developments, Canada owns the third place, and the first place belongs to the United States of America. What do timeshares cost could vary from one country to another.
Americans and Canadians tend to be very interested in how much does a timeshare cost in some of the most touristic cities in Mexico.
The timeshare industry is really popular among the highest quakity resorts in Mexico, especially for the beautiful destinations they offer, mainly for the experience and near the beach location. In Mexico, the occupancy percentage in the main tourist destinatios is 70% at the beach. The rest belongs to traditional hotels. Most Americans are curious about how much is timeshare Cancun, Quintana Roo, especially for this matter.
How much is a timeshare in Mexico?
How much is a timeshare in Mexico? is it really worth it investing in this country instead of Canada or the United States? The truth is how much are timeshare worth buying depends merely on you, your budget and preferences.
How much is a timeshare in this country could vary and the factors are the same as the ones stated before. The average timeshare price could go from $ 1 to $25,000 depending if you buy it online, in a resale post or directly from a timeshare salesperson in a resort. Closing cost range from $250 to $400 and a transfer fee may apply wich can usually be $100 to $200.
How much does a timeshare in Cancun cost? A popular and well know timeshare resort is Mayan Palace in Cancun, Quintana Roo. Plenty of tourists visiting this city in Mexico tend to be very interested in how much is a timeshare in Cancun. Here, The Mayan Palace resorts charge 10% of the original purchase price as transfer fee. These range from $1000 to $3000.
To the average timeshare price mentioned before, you have to add up the maintenance fees wich may vary depending on the unit size, location of resort, and quality of resort . 1 bedrooms range from $400 to $650 and 2 bedrooms around $650 to $800 and so on. By doing the math you can really deduce how much does a timeshare in Cancun cost.
Before visiting a sales person to find out how much is a timeshare in Cancun or any other Mexican resort, make sure you know the background of the timeshare company you´re dealing with. As we had many clients that regret investing in something that seem lije a dood deal at the beginning, but ultimately results as a nightmare for their economy, as the New York Timeshare states.
A large number of the cases when investors who asked how much asked how much does a timeshare in Cancun cost and eventually purchase one, involve timeshare sales people pushing clients to close the deal with lies and manipulations that end up in a big scam, as Forbes magazine indicates. The buyers realize whet it´s too late and have lost hundreds of dollars. Still,with this fraudulent reputation you wouldn´t believe how much is a time share information acclaimed at resorts in this city that is also known for having many complaints on fraudulent timeshare sales.
If you find yourself in a situation where you are stuck with a timeshare you don’t want anymore, there is no reason to be hopeless. Everything has a solution, and the best way to get rid of a timeshare is by cancelling the contract.
At Mexican Timeshare Solutions we offer you a free consultation on your timeshare matter, and we do not make any charges until your contract is appropriately cancelled. Contact MTS today and relief yourself from your timeshare; get the financial freedom we’re all looking for.
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