The average cost of a timeshare is a little less than $23,000 for a week of vacation time according to the American Resort Development Association. Because of the increase of points programs on the market, the industry has redefined their term as a timeshare interval rather than just a timeshare, because an interval can also be a shorter period of time, such as a long weekend, where points can be used to book vacation accommodation.
There is an important distinction to make here between the industry average and the price of a timeshare resale on the secondary market. Timeshare industry averages only account for the higher prices charged at the resorts, often through major hospitality-branded programs, and not discounted prices on the resale market.
Prices charged through the resorts can be marked up as high as 60 percent to cover marketing costs and sales commissions. The resorts use incentive programs to get prospective buyers onto their properties, and sales staff are paid commission on the sale of a timeshare. That adds up to thousands of dollars recouped through the resort sale – and these costs are not included on the resale market because buyers are buying from existing owners.
The good news for buyers looking online is that you know about the resale discounts and deals available or you wouldn’t be reading this information. Timeshares are great vacation options, but everyone thinking about buying a timeshare needs to look online before signing a deal at the resort. It will save you big money in the long run.