Vacation Ownership: Timeshares In Disguise
3 min read
With all the pressure these days to live an Instagram-worthy #bestlife, it’s no wonder people are looking to invest in vacation. After all, think of the amazing beach selfies! And the timeshare industry–ever the innovators–are capitalizing on that. In fact, “invest in vacation” is one of their key selling points. But is a timeshare really an investment in vacation? Is it an investment at all? And do you need a timeshare to invest in vacation? Let’s find out.
Sorry, timeshare reps, but a timeshare is not an investment. In fact, it’s actually a liability. You see, investments have an intrinsic value and tend to build value over time. That’s the whole definition: putting in money for financial or material gain. Timeshares have no intrinsic value. In fact, whatever value they do have drops like a rock as soon as you sign your contract. If you try to sell it to someone else, you are not likely to get anything close to the price you paid. Plus, you are now liable for a lifetime of maintenance fees and special assessments. So, while you did spend a lot of money on that timeshare, it wasn’t an investment.
This is really just a marketing line. Because although you’ll spend a lot of money, you won’t necessarily get good vacations. The reps are selling you the experience a timeshare might give you. You see, like a financial investment, timeshares can be risky. Yes, maybe you’ll have an enjoyable vacation. You may even get many enjoyable vacations out of it. Your Instagram feed might be full of those beach selfies. Or not. Because your timeshare contract doesn’t guarantee vacations. It guarantees either the right to use a property or the right to make reservations to stay at a set of properties. Check your contract. We doubt it says “vacation guaranteed.” So, from that perspective, a timeshare is more like a vacation gamble.
So, it’s pretty clear that you don’t need a timeshare to invest in vacation. What do you need? Well, that depends on you. Take the money you were going to spend on that timeshare and go anywhere in the world! If a timeshare-style beach-front resort is your idea of paradise, you can easily rent one. Or invest that money for real and travel on your profits. Or you can buy a vacation home that you really own and control. Investment plus vacation all in one!
But maybe part of why you want a timeshare is that you think you’ll be able to take more vacations for less money. After all, isn’t that part of why people love timeshares? Well, Consumer Reports finds that most people don’t really start seeing those savings for 13 years. The truth is that you can get find all kinds of travel savings without buying and without waiting 13 years. Check out these budget-savvy travel tips or get started in the fine art of travel hacking. All the selfies you want and no timeshare required.
But what if you’ve already bought a timeshare that isn’t working out? Don’t worry. We help people escape their unwanted timeshares every day. Contact us to find out how you get out of your contract and get started living that #bestlife.
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