Are Timeshare Owners Happy?
Unhappy timeshare owners seem to be the most vocal, but this does not necessarily mean that all timeshare owners are unhappy. Statistically speaking 85% of timeshare owners are happy with their vacation situation.(1)
Public opinion of timeshares seems to be largely negative, but this is probably because unhappy timeshare owners write a lot more about their experiences than their satisfied counterparts. (2)
Ultimately the difference between happy timeshare owners and those who are less than satisfied is three fold:
- Firstly, the older system of timeshares that limits its owners to vacation time in one location for the rest of their ownership versus the points system which is an evolved version of the former. Individuals who are ‘club members’ tend to be more satisfied with their timeshare than those who are locked into a single location.
- Secondly, perspective on what your timeshare actually is. Those who believed they purchased their timeshare as an investment as well as a vacation destination will be sadly disappointed. Those who bought into a timeshare membership for the purpose of creating an easier way to vacation are in general much more likely to be happy timeshare owners than those who believe it was a wise financial decision.
- Lastly, how you came to buy your timeshare in the first place will determine whether you are a happy owner or not. Were you coerced into a purchase? Those owners who feel they chose to buy their timeshare from a point of power ultimately are more satisfied with their ownership experience than those who feel that they were tricked into the purchase.
The Type Of Timeshare You Own Will Determine Owner Satisfaction
In general, timeshare owners who are members of a timeshare club such as Wyndham, Marriott, Hyatt, Hilton, and have the flexibility to go somewhere new on vacation (even if it is the same company that owns the resort), experience much greater owner satisfaction compared to those who own a single location for a set period of time every year.
Like most things in life, timeshare ownership has evolved. As we enter the third decade of this millennium timeshare ownership is producing overall happier owners than ever before. This is largely due to the evolution of the points system. Timeshare owners view their ownership more as a way to keep their vacations streamlined and chaos free.
In years gone by, many timeshare owners believed that they were partial owners of their timeshare, that their purchase went beyond a week long vacation every year, and that it was an actual financial investment as well.
Timeshares Are a Lifestyle Choice, Not An Investment
Those owners who purchased their timeshare believing it to be an investment are sadly disappointed to find out that the resale value is essentially null and void. The timeshare they bought thinking that it would add to their financial portfolio, in reality looks like a major hole in their otherwise tight ship of financial edification.
Those who purchase a timeshare because they are a young, busy family with two working parents and want an easy way to vacation tend to be very pleased with their timeshare purchase. These individuals know that whenever they have time to vacation as a family all they need to do is pick a location on the globe where their membership club has a resort facility, book the tickets, and go.
If the timeshare points system lifestyle works for an individual or a family, then these owners tend to be very satisfied. It is not because they feel they made a sound financial investment, but because they have a guaranteed way to vacation every year with minimal effort.
Timeshare Owners That Were Coerced Into Ownership Versus Those Who Chose
Finally, another leading cause for timeshare ownership satisfaction depends largely upon whether the owners felt duped into a purchase, or if they chose to opt into a membership club.
For anyone who was offered a free gift such as Disneyland tickets, an extravagant dinner, or any other free offering in exchange for a 90 minute talk on timeshare ownership while on vacation and ended up being persuaded into ownership, will likely end up with buyers remorse sadly.
Timeshare ownership coercion is so cliche it is almost a trope. No one wants to feel as if they were conned out of thousands of dollars, unfortunately many timeshare owners feel that this is exactly what happened to them.
A deciding factor in the overall happiness of a timeshare owner is whether they feel they were manipulated into the purchase and left with a huge financial burden that they did not want in the first place, or if they made the choice to vacation with membership points as a lifestyle.
Timeshare Ownership Satisfaction Is Variable
While the data may reveal that the majority of timeshare owners are happy, public opinion seems to differ wildly. Ultimately a timeshare owner’s happiness depends largely upon how they view their timeshare.
Those timeshare owners that are most satisfied with their purchase are ones who view their timeshare as a time efficient and reliable means to vacation. Furthermore, those timeshare owners who are deeply dissatisfied are those who feel they were manipulated into the purchase.
Timeshare ownership is a lifestyle choice, and definitely not a financial investment, just a way to vacation. If this is understood, then most timeshare owners are happy.