Timeshare Risk: Should You Dare?
Timeshare Agreements, Timeshare Scams
3 min read
Many travelers are looking for timeshare hacks so they can experience a timeshare vacation. Although many timeshare resorts are amazing vacation destinations, buying from a developer isn’t always (ever?) the best choice. If you’re looking for alternatives, you’ve come to the right place. Of course, as with anything to do with timeshares, it’s always buyer beware.
Timeshare ownership can be risky. Check out these timeshare dangers that make consumers understandably nervous.
Developer prices are astonishingly high. In 2017, the average timeshare cost $22,180. Plus, a financial analysis done by Consumer Reports shows that owners often don’t see any savings until 13 years into their contract. That’s a long time to wait. By contrast, some timeshare hacks deliver immediate savings for pennies up front.
Fees are a fact of timeshare ownership. All timeshare owners must pay annual maintenance fees for basic repairs, housekeeping, and other costs associated with running the resort. In addition, owners may also pay various one-time fees. For example, special assessments to pay for major repairs or upgrades. Other timeshares may charge other various fees, such as for renting your unit or participating in an exchange program. Plus, timeshare companies are very creative when it comes to inventing new fees. You never know what they’ll think of next. By using some of these timeshare hacks, you may avoid mountains of fees.
Long contract terms are perhaps the riskiest aspect of timeshare ownership. These contracts typically last at least 20 years for a Right to Use timeshare or forever for deeded timeshares. And those contracts in perpetuity last beyond your lifetime and can be passed down to your children. A lot can happen in a lifetime, so many people understandably choose not to enter such contracts. Timeshare hacks may offer alternatives.
So, how do you enjoy the timeshare without the developer contract?
If you’re put off by high developer purchase prices, you can buy on the timeshare resale market for much, much less. In fact, you’ll find timeshares for as low as $1. However, no matter how you buy, you’ll still be looking at lengthy (or forever) contracts, ongoing maintenance fees, and other fees. In addition, some resorts restrict privileges for owners who go through the resale market. What might seem like a good deal today can turn into a lifetime of payments.
If you are wisely reluctant to buy a timeshare but want the timeshare experience, renting from a timeshare owner might be for you. By renting, you get to enjoy the resort without strings attached. Find timeshares on sites like Timeshare Users Group or Airbnb. In many cases, you can rent for very reasonable prices. And if the owner is having trouble finding a renter, you might have room to bargain. However, as with buying on the resale market, as a renter you might not have access to all amenities. On the bright side, if you don’t like it, you can go somewhere else next year.
Timeshare sales reps play up the privileges of ownership. They’ll imply or directly say you can’t enjoy a timeshare if you aren’t a member. Although there are places where that’s true, many timeshare resorts are also open for reservations. And because of market fluctuation and other factors, you may pay less than you would as an owner.
Some timeshare companies offer free or reduced-price vacation packages as sales incentives. Although this might seem like the ultimate timeshare hack—free vacation—we don’t recommend it. Typically, you’ll be subjected to high-pressure sales tactics. And in a worst-case scenario, you’ll end up buying a timeshare and be stuck with all of the problems you were trying to avoid in the first place. Much better to skip it entirely!
These timeshare hacks can help you enjoy your dream timeshare vacation. However, if you’re already living in a timeshare nightmare, we can help you wake up. We help people like you get out of their timeshares every day. Contact us for a free, no-risk consultation, no hacking required.
(Image Source: Pixabay)
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don’t know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.
Their high-pressure tactics
Our knowledge and experience gets you OUT. We offer a high-touch, boutique level of service, keeping you informed with frequent updates throughout the process—which is why we have numerous 5-star reviews and are rated “A” (Excellent) by the Business Consumer Alliance (BCA).Learn More
Still not sure what’s the next step? Our dedicated team can review your agreement and guide you through the process. The Primo difference is all about service. Our timeshare elimination consultants have one mission: To serve our clients and bring the peace of mind that comes from relieving their timeshare obligation.Get Started
The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try