Wealthy Living

What is a Timeshare? 4 Things You Should Know Before Investing in a Timeshare

Timeshares have been around in the US for a very long time. In the US, timesharing was first introduced in 1969 on the Kauai island in Hawaii, and Florida was the first state in the United States to grant timeshare rights.

Today, transformation within the industry has made it a viable travel option supported by several well-known names in the lodging sector, including Marriott and Disney.

The global Timeshare market is forecast to be worth $29,190 million by 2028, from $17,720 million in 2021, at a compounded growth of 7.6% (yearly) from 2022-2028.

What is a Timeshare?

A timeshare is also known as vacation ownership. It allows a traveler to use a specific property at certain times of the year while sharing the costs with other travelers.

Before you invest in a timeshare, there are a few things you must know.

Things to Know Before Investing in a Timeshare

1) Ongoing Fees

All timeshares come with yearly fees, also known as maintenance or homeowners association (HOA) costs.

These fees cover property management, property insurance, property taxes, landscaping and maintenance, common area and grounds, and improvement of rooms.

Swipe up now to read the full post!