Want to know if you are paying too much annually for your timeshare or want a breakdown of the costs involved so you can budget effectively? This article will let you know exactly how much the average cost of a timeshare was in 2024, including how much the average maintenance fee was.
According to ARDA, in 2024, the average cost of a timeshare was $24,170, while the average annual maintenance fee was $1,260.
Timeshares come with various costs that affect your monthly payments. These typically include the purchase price, financing costs where the interest costs can range from 12% to 20%, annual maintenance fees and special assessments and other fees.
The estimated monthly timeshare cost averages approximately $400 if the timeshare is financed. Here’s a breakdown of what makes the cost:
Here are the main factors that affect timeshare costs:
Maintenance fees cover the upkeep of resort amenities, staff salaries, utilities, and general property maintenance. The average maintenance fee in 2024 was $1,260 per year ($105 per month).
These fees increase over time, with an 8% increase reported in 2023 due to inflation. Owners must pay these fees even if they don’t use the timeshare.
Timeshares offer consistent vacation experiences, but they are not an investment. The resale value is low, and long-term costs can add up. If you plan to vacation at the same resort every year and can afford the ongoing costs, a timeshare could be a good lifestyle choice—but it’s essential to understand the financial commitment fully.
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The average timeshare costs between $140 and $500+ per month, depending on financing and maintenance fees.
The average annual maintenance fee in 2024 is $1,260, which equals about $105 per month.
Yes, maintenance fees typically increase annually. In 2023, they increased by 8% due to inflation and rising costs.
If you stop paying, the timeshare company can send your account to collections, charge late fees, or even foreclose on your ownership.
Timeshare cancellation is possible, but it depends on your contract. If you’re past the rescission period, you may need to explore resale or transfer options.
If you’re exploring ways to exit your Marriott Vacation Club timeshare, this guide offers insights into available options, from utilizing Marriott’s program to understanding the resale market and avoiding potential pitfalls.
If you’re looking for a way out of your Hilton Grand Vacations timeshare, we can help. This guide breaks down the best ways to exit a Hilton timeshare legally, including working directly with Hilton, exploring resale options, and avoiding common mistakes.
