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Should a time share purchase be financed? The old school knee jerk reaction is that a vacation is intended to be a way to relieve stress. Is there anything relaxing about taking on another debt burden? Probably not. Most people in former times would just say throw a fishing pole in the trunk and de-stress!
Unfortunately, this is often just an invitation to more stress these days. He who takes vacation–even tent camping–without making reservations is doomed. The best locations start filling up by 3pm on Fridays and stay full until Monday all summer long. Even the primitive camps with pit toilets and no showers aren’t free from the throng of motor homes these days. What’s worse is that pitching a tent can cost $30 to $60 per night. It takes a real nature lover to pay more to sleep on a rock than in a hotel bed!
Hard to believe but in the best tourist areas hotels are becoming cheaper than camping. The camper village at Cedar Point in Sandusky, Ohio charges $59 per night. Granted there are advantages to staying inside an amusement park’s confines but the price is getting up there. Second tier hotels within ten miles of Cedar Point like Red Roof Inns, Milan for example charge about the same based on a two week stay. But they are booked up! The area has no time shares. That’s the other problem. The nearest time share purchase to be found is a couple of hours drive away although it is a bargain.
Time share purchase opportunities aren’t located in all tourist Mecca’s. Two weeks of camping in the above example is just over $800. Two weeks at a nice but more distant hotel is just over $800. One year’s annual maintenance fees on a deeded time share is often just under $800. In some cases the price is much less. So after the initial purchase price is paid the cost per year will probably be less than camping.
But just because it’s more comfortable, does that mean going into debt is a reasonable option? That depends on the cost of the time share offers. Some are just too expensive and the annual cost exceeds the cost of other accommodations when the lengthy mortgage is considered. Most aren’t that expensive though. Resale time shares are often very affordable.
The thing to do then is to compare the mortgage to the price of other vacation expenses when added to the credit card balance that is otherwise racked-up during the annual vacation. Now there’s an expense at a very high interest rate. There’s nothing low stress about credit card debt either. Consider all options before undertaking any debt burden. In many cases time shares compare very well.
Tags:Time Share Information, Time Share Promotions, Timeshare Vacation Timeshares