Timeshare ownership can be a gateway to luxurious vacations but also carries significant financial commitments and responsibilities. Westgate Resorts is one of the leading timeshare options available, promising quite an attractive vacationing experience. The question still remains: is a Westgate timeshare worth the investment?
Below is a comprehensive breakdown of what owning a Westgate timeshare entails: benefits, potential challenges, costs and how it measures up against other alternatives. After reviewing this article, you should have an excellent idea of whether or not a Westgate timeshare fits your vacation goals and financial plans. Besides, if you feel it’s not right for you, Canceltimesharegeek can help you with the expertise exit and cancelation process.
What is Westgate Timeshare? An Overview
Westgate Resorts is the United States’ largest and most popular resort developers, providing vacation ownership at many resorts across the country. Formed by David Siegel in 1982, the company has grown to over 20 locations, including such visitor meccas as Orlando and Las Vegas to trendy coastal locations such as Myrtle Beach in South Carolina. All of the available Westgate timeshares are points-based, where members use their points for booking vacations to any resort within the Westgate network.
- Points-Based Ownership: Owners purchase a set amount of points, which can be used to book vacations at any Westgate resort, offering flexibility in terms of when and where you vacation.
- Resort Locations: Westgate Resorts are located in prime vacation spots, offering a range of amenities and activities designed to enhance the vacation experience.
- Vacation Exchange: Through partnerships with exchange companies like Interval International, Westgate owners can trade their points to stay at other affiliated resorts around the world.
The Benefits of Owning a Westgate Timeshare
There are many benefits to owning a Westgate timeshare, particularly for holidaymakers who prefer to travel in style and expect the best in terms of standard and quality from their accommodation.
- Standardized Quality: In the hospitality market, Westgate Resorts hold a high rank. They have branded rooms as good and well-kept with a lot of luxury.
- Flexibility in Vacation: The point-based system offers flexibility to the owners in planning their vacation according to their interests at a time and place of their own choice each year; therefore, providing flexibility that conventional timeshares with fixed weeks do not.
- Exclusive Benefits: Timeshare owners often enjoy exclusive benefits such as discounts on resort activities, early check-ins, and late check-out to enhance the overall experience.
- Kid-friendly Amenities: Many Westgate resorts boast family-oriented amenities, from water parks to entertainment centers and kids’ clubs.
- Save Money: The long-term actual ownership of a timeshare can be less expensive than booking hotels every year for a vacation, especially if it is a family that vacations yearly.
Potential Drawbacks of Westgate Timeshare Ownership
Although there are many benefits, owning a Westgate timeshare also has some disadvantages. It is important to learn and know about these difficulties before making a long-term commitment.
- High Initial Costs: The Westgate timeshares typically command high initial acquisition costs, which can place considerable financial strain on an owner.
- Ongoing Fees: An owner is required to pay an annual maintenance fee, and this is probably going to rise over time, thereby increasing the overall cost of ownership.
- Infamous Resale Market: It is generally very tough, if not impossible, for many owners to be able to resell their timeshare at a reasonable price, or even sell them at all.
- Diminished Value: Unlike real estate, there is no value appreciation in timeshares; rather, they most often plummet in value over time, and therefore it will be impossible to realize your principal investment.
- Usage Restrictions: Members often feel limited by these usage restrictions, as the points system is flexible, yet booking accommodations for popular vacation times is near impossible.
Cost Analysis: Is Westgate Timeshare Worth the Investment?
When deciding if a Westgate timeshare is or isn’t worth the money, you must take into account both short-term and long-term costs.
- Initial Purchase Price: A Westgate timeshare can be bought for an upfront price from a few thousand to several tens of thousands of dollars depending on location, season, and point quantity bundled with the purchase.
- Annual Maintenance Fees: These would cost you anything from $800 to $1,200 or even more, depending on what sorts of different activities are undertaken for the maintenance of the resort and its amenities. All these over some time accumulate to quite a sum.
- Special Assessments: Sometimes, an assessment may be given to a timeshare owner for damage or major repairs made to the resort or for an upgrade. For example, lightning has stricken the clubhouse and there is no insurance to cover that cost of damage. This kind of unexpected cost is very heavy on the pocket.
- Travel Costs: While the accommodations are part of the timeshare, additional owners’ expenses, like airfare, car rental, and meals, would add to the overall cost for each holiday.
The long-term cost of a timeshare provides prospective buyers with a gauge of whether the purchase matches their annual vacationing lifestyle and wallet size.
Westgate Timeshare Reviews: What Do Owners Say?
Hearing directly from current and past Westgate timeshare owners can give a person good insight into the ownership experience. Reviews and testimonials show both good reports and challenges in the experience of owning a Westgate timeshare.
- Positive Experiences: The luxurious accommodations, range of amenities, and flexibility with the points system are among many aspects praised by owners. Families find a family-friendly atmosphere and lots of available activities in many Westgate resorts.
- Common Complaints: The most common complaints are those of the increasing high costs of maintenance, difficulties in booking during peak seasons, and the difficulties in reselling their timeshare on the resale market. Others complain about customer service and the sales pressure.
- Resale Difficulties: A common theme among owners who end up dissatisfied with their units is the inability to resell them. Many indicate not being able to sell or even getting offers at just a fraction of what they originally bought.
Comparing Westgate Timeshare to Other Timeshare Options
As with any Westgate Timeshare, the comparison is a value versus other timeshare options to see if it’s the best choice for an individual circumstance.
- Marriott Vacation Club: Shares a points-based timesharing principle with Westgate but has a wider reach of resorts around the globe. Comparable to Westgate in luxury and service, their accommodations typically come with a higher price tag.
- Disney Vacation Club: This is the timeshare program for the family with young children. Besides being more expensive, it comes with all the exclusive amenities and experiences for those Disney lovers out there.
- Hilton Grand Vacations: This is one notoriously flexible timeshare program with a huge array of resorts in its network. Just like Westgate, however, it’s quite steep in terms of initial investment and yearly fees one has to pay.
Each of these has its advantages and disadvantages, and prospective buyers should weigh them against their personal preferences in vacations.
Is Westgate Timeshare Right for You? Factors to Consider
When you purchase a Westgate timeshare, you do it in order to truly consider your personal vacation habits, your financial situation, and future goals.
- Vacation Habits: How often do you vacation? Do you prefer to enjoy your accommodations in luxury? Do you like the idea of having the same product every year? If so, perhaps a Westgate timeshare is the best bet for you. However, if you prefer unplanned travel or exploring new places every year, a timeshare may not be suitable for you.
- Financial Stability: A timeshare equals a long-term financial commitment. Be prepared for upfront costs and the ongoing financial obligations in case something comes up—before you sign on the dotted line.
- Future Plans: Think of how your lifestyle could change in the future. Will you still be interested in using your timeshare in 10 or 20 years? If you think you are capable of going through changes in either family size, health, or vacation preferences, consider this factor.
- Resale Concerns: Seriously consider the potential difficulties you will have in selling your timeshare if your situation changes. This could be a reason to discourage sales if the resale value is the utmost concern to you.
Alternatives to Westgate Timeshare: Renting vs. Buying
If you’re wary of investing in a Westgate timeshare, then renting or buying resale is a good way to see how it goes.
- Rent a Timeshare: Maybe, instead of long-term commitment, renting is the best way to experience the opportunity of all those great benefits that are available at your favorite timeshare resort. Renting may be perfect for that luxury trip, yet you are not prepared to purchase.
- Resale Buying: The purchase of a resale may actually give one a much better deal on a timeshare than buying from the developer, but it does also come with some drawbacks. For example, some of the additions that come with a new purchase, like bonus weeks or VIP status, will not be included for the resale buyer.
Both alternatives are flexible and, in most cases, can be economical—more so if one is new to timesharing or wants to try out the service before making a long-term commitment.
How to Make the Most of Your Westgate Timeshare
If you choose to proceed with a Westgate timeshare, there are plenty of ways to make the most of your investment and the experience while on vacation.
- Make Important Plans Early: Populated attractions and popular vacation days are usually in high demand. Planning your vacations far ahead of time will enable you to have the best probability of finding the dates and locations you desire.
- Utilize Exchange Programs: Take advantage of the exchange programs affiliated with Westgate to explore new horizons. The value of ownership is increased, and uniqueness is extended to your vacations.
- Use Owner Perks: Don’t miss all of the owner perks and discounts that are given to the timeshare owners, including reduced prices on activities, dining, and spa services.
- Rent Out Extra Points: If you are not able to consume all the points within the year, rent the remaining points to other holiday-makers. This way, some of your maintenance fees will be paid for.
- Stay Updated: Watch out for changes in policy by Westgate or new openings for the owners. Being proactive can help you stay away from surprises and make the most out of your investment.
