Valuable information to help you score major savings on your Florida vacation.

How Can You Save Money?

I have stayed in Florida a number of times, enjoying 3 and 4-night hotel stays for free. I’ve received local attraction tickets, meals, gift vouchers, and cash. In exchange, my wife and I have sat through sales presentations for Florida time shares (or interval and fractional ownerships, or vacation and private-club residences).

Why Do Resorts Offer Deals?

They are betting that a significant portion of people will buy a vacation resort if they have an opportunity to enjoy the property. I want to arm you with information before going to a vacation ownership tour. If you want see a luxury resort that offers a vacation deal, check out the this link.

What is Vacation Ownership?

A group of people share the purchase cost of a fully furnished vacation accommodation. Owners are then able to use that property for a specified period each year. For a one-time purchase price and payment of a annual fees (maintenance, property taxes, etc.), purchasers own their vacation either for as long as the unit exists or for a predetermined number of years. Owners share both the use and the costs of upkeep of their unit and the common grounds of the resort property. Vacation ownership purchases are typically financed by consumer loans of five to ten years, with terms dependent upon the purchase price and the amount of the buyer's down payment (usually at least 10%). 

How Much Does a Time Share Cost?

It depends on the time of year, the quality and location of the resort. A Disney resort could go for as high as $150,000 for a 3-bedroom unit during a peak week. The average price of a new unit purchased from the resort (from RCI’s FAQ’s):

·        Studio - $7,380

·        One bedroom - $8,620

·        Two bedroom - $10,790

·        Three bedroom - $13,925

Additionally, you will pay yearly real estate taxes, maintenance fees, and assessments.

What are the Main Benefits of Time Share Ownership?

·        Outstanding accommodations and excellent service at quality resorts

·        Flexibility through the vacation exchange programs to other timeshare resorts around the world

·        Potential to save on vacation costs over the long term by locking into current purchase prices

·        Less expensive than owning and maintaining a comparable property for vacations

·        No charges for additional guests (different units can accommodate from 2 to 12 adults)

·        Regular vacations to nice locations

·        You may be able to leave your timeshare property to your kids as part of your estate (verify with the resort) and you can get the tax benefits of owning a second vacation home

What are the Main Drawbacks of Time Share Ownership?

·        Financing costs (resort financing can be expensive)

·        Taxes, maintenance fees, cleaning fees, and assessments – These annual fees can range from $250 to over $1000, depending on the size of the unit. You are liable for these costs, even if you don’t use your unit for a given year.

·        Some time share developments have suffered from poor management and upkeep. In some cases, the development or management company has filed for bankruptcy, putting all owners at risk of losing their investment.

·        There are annual costs and fees for exchange programs.

Some Timeshare Resorts Make Claims That Stretch the Truth?

·        This is an investment that can appreciate.  This isn't always true (check the resale market).

·        For what you typically spend on vacation for hotels and food, you can own this unit in 5 years or less. Figure how much your typical vacations really cost.

Tips Which Can Save You Money and Headaches

·        Check out the resort before you even consider buying. Stay several nights. Often resorts will rent units on a nightly basis. I would even ask if the fees for the stay can be waived if I purchase a unit. Or look for rentals from current owners.

·        If you are not remotely interested in buying, but are simply taking advantage of a special offer, don’t ask lots of questions to pretend you are interested. The salesperson is trained to resolve concerns, and has an answer for almost any question. And the presentation could drag on.

·        Schedule the time share tour for a “down” day. A “90-minute” presentation can last longer. But I have found it a relaxing way to spend a morning. Resorts often offer a continental breakfast, and a playroom with on-site babysitting for free.

·        Take advantage of amenities. Nearly 90% of units have a full or partial kitchen. Stop by the local grocery store and pick up food for several meals.

·        Talk to owners and ask about their experience. Is the resort well maintained? How about service? Would they buy now if they had to do it over again?

·        Ask yourself: “Is this where I want to spend all my vacations?”  Experienced owners recommend that you don’t buy if you plan to rent out and exchange frequently, or resale your property.

·        Don't buy an off-peak week.  Unless you truly enjoy Florida in summer or Cape Cod in winter, don't buy a timeshare week during such off-peak weeks.

   Now that you are better educated, you can attend time share presentations with confidence. This is a great way to score major savings on your Orlando Florida vacation. That means you can stay in a plush resort condominium really cheap* for 4 nights. There's no obligation to purchase anything. All you have to do is give up 90 minutes of your vacation.  Please check out this offer. As a timeshare owner, I am confident you will be pleased with the accommodations.