Whether you’re dreaming of spending hours on the beach or would prefer to relax poolside in a place of your very own, chances are good that you’ll face the decision between investing in a timeshare and buying a vacation home at some point. This is perhaps especially true when it comes to property in Aruba, whose popularity is only increasing as its tropical beaches become more beautiful with time. The question, of course, is should you buy, or should you opt for a timeshare? Here are some things to keep in mind when making your decision.
For the occasional visitors, a timeshare might seem like a tempting option. The fees seem reasonable, after all, and you don’t have to worry about property maintenance. Before you make the decision to invest in one, however, keep in mind that you have none of the benefits of homeownership. You have to share the space with other people, schedule around their trips, and pay an annual fee whether you use the property or not. You also don’t have the option of renting the space out to recoup any expenses. And given that Aruba has 40% repeat visit rate, chances are good that you’ll find yourself wanting to return as often as possible but find yourself limited because your timeshare is already booked.
Buying a vacation home can seem like a serious expense, but that’s not the right way of looking at it. Consider the purchase an investment, because that’s exactly what it is. When you buy a vacation home, especially one in the Caribbean where property values are fairly dependable and constant, you’re investing in something that has the potential to earn you money. This is especially true in Aruba’s real estate market.
The value of property has been steadily increasing over the past few years and you stand to ultimately own a property worth more than what you paid. Consider the fees that come along with a timeshare, for example. You pay annual fees whether you use the property or not. You’ll probably do the same for your vacation home, but with one big difference: you can rent out your home to recoup those expenses. Many owners find that they can easily cover any yearly maintenance costs – and then some – through tenant payments.
Beyond the ability to recoup your investment by renting a vacation home out, keep in mind that it’s your property. You can visit it anytime you’d like, do whatever you’d like with it, and it will always be
available. If you decide you need a quick weekend trip to Aruba’s pristine beaches, you have the ability to do that for nothing more than the cost of a ticket. And you won’t spend your time in a hotel, either – you’ll be in your very own home.
If you’re considering investing in property in Aruba, it’s a good idea to opt for a vacation home rather than a timeshare. It makes more financial sense in the long run and offers you more options to customize your time in the country.