Want to be a timeshare owner? We think you should think again. Find out why below.
Are you thinking about becoming a timeshare owner? As consumer advocates who deal with unhappy timeshare owners every day, we’d advise against it. Here are just some of the reasons we don’t think timeshares are a very good deal.
Not An Investment
If you’re looking to invest your money, look elsewhere. Resorts advertise timeshares as an investment in vacation. That’s because a timeshare isn’t an investment that grows in value over time. In fact, by the time the ink on your contract is dry and you’re a timeshare owner, your “investment” will have lost value. We see so many people who’ve fallen into the trap and are now experiencing timeshare regret. You can invest in vacation in so many other ways that make more financial sense. Avoid the headaches by avoiding becoming a timeshare owner.
The world is a vast and amazing place. You could spend a lifetime traveling and not see it all. And while we’re all for comfort and familiarity, timeshares limit your choices. If you have a deeded or fixed-week timeshare, you’re headed to the same place every year. Forever. And if you own points or are part of a vacation club, you must play the points and reservations game—and that’s assuming you can even figure out the rules. In either case, you’re limited in where you can go.
We’ve all had bad vacations, like the time it rained the whole time at the beach or when the flight was canceled and you ended up stranded in the Cleveland airport. Those were bad but still better than vacations you don’t get to take. And the worst kind of vacation is the one you don’t get to take but that you still have to pay for. For many timeshare owners, that’s exactly the kind of vacation they take every year. For fixed week timeshare owners, if you can’t make it for your week, you either need to find a way to trade or miss your week. If your HOA allows you to rent your unit, you may be able to at least not lose money. However, that’s not an option for every property. And if you’re in a vacation club, you may have trouble using your points or find that they don’t buy you as much as you’d hoped.
Rising Maintenance Fees
You’re paying more in maintenance fees each month. Even if you don’t get to use your timeshare. That means less money for vacations you want to take. Plus, you can’t predict what those maintenance fees will do. And they’ll never go away. Ever. Why not do something better with your money instead of pouring it into fees?
We hope we’ve saved you from “investing” in a timeshare. But, if you’re already stuck in a contract and are looking to get out, we can help. We help people like you exit their timeshares every day. Contact us for a free consultation today.
(Image Source: Pixabay)