Selling Timeshares

Today one of the big options many people are choosing to use as a vacation option is buying a timeshare.  In fact for a lot of people this might seem like a cheaper option compared to all inclusive resorts and the like.

However in this post I going to cover the fees timeshares charge to help you make a more informed buying decision.

Maintenance Fees

The first fee is called the maintenance fee, this is the fee resorts will charge for the upkeep of the property.  For example the resort that I had a timeshare with charged $350 a year.

This fee also tend to change as well, in fact in one year the fee went up by nearly 10%.  You also need to consider that it  also depends on the resort you buy from as well.  So before you buy ask what kind of maintenance fee they have and how much it will increase on a year to year basis.

Exchange Club Fees

Next, you have exchange club fees.  Every timeshare is a member to some sort of exchange club.  An exchange club is basically website where you can go to bank your week and allow others to use your week at your resort.  In exchange you have the opportunity to pick up someone elses week at a different resort.

The fee usually runs around $60 to $100 per year.  Although if you buy several years in advance the rate tends to be a lot cheaper.

Exchange Fees

Finally, you have the exchange fees themselves.  These fees are charge when you actually exchange your resorts week with another week at a different resort.  For example, if you own a timeshare in Florida and don’t want to go to that resort but instead would rather go to a resort in Hawaii you could bank your week and exchange for one in Hawaii.

The typical fee to exchange is around $100 and like anything else increase over time as well.

One Final Word On Timeshares

In closing I thought I would mention that their are a lot timeshare scam companies and timeshare resale scams going around, so make sure you do your homework before you buy otherwise you could get ripped off.