Do You Need a Timeshare?
Buying a Timeshare
3 min read
The timeshare industry paints a beautiful picture of vacation ownership, but what are the real timeshare pros and cons?
If you buy a fixed-week deeded or Right to Use (RTU) timeshare, then you have a yearly vacation to count on for the length of your contract. Well, unless a natural disaster hits. Or you fall behind on your maintenance fees.
The prospect of free vacations is alluring. However, those vacations are only “free” after you pay the initial fee. Plus, with maintenance fees to pay every year, your “free” vacation might end up costing just as much as a non-timeshare vacation. In fact, Consumer Reports calculates that timeshares only become a good deal after 13 years on average.
If you look at our timeshare pros and cons, you’ll notice the cons list is much longer. Although there are people out there who love their timeshares, many, many others are unhappy. Sure, people have fun at timeshares every day, but they could have the same fun without owning a timeshare. Here are our top timeshare cons.
The average timeshare costs $22,180. And if you finance that cost, go ahead and add interest charges to that. The high cost to get started is a major problem with timeshares.
On top of the initial cost of a timeshare, all owners pay annual maintenance fees. These fees cover the basic maintenance, housekeeping, and upkeep. They average around $1000 right now and go up every year. It’s easy to see why owners would be charged for housekeeping and landscaping, but these fees are mandatory whether you use your timeshare or not. And if you miss your payments, you won’t be able to access your timeshare. Over time, many owners have difficulty with maintenance fees. In fact, maintenance fees are one of the top timeshare exit reasons.
Although timeshare sales reps may tell you otherwise, timeshares are not investments. They don’t increase in value over time. They don’t offer any tax or other financial benefits. And in many cases, they turn out to be a liability.
Timeshare contracts last anywhere from 20 years to forever. Although a timeshare might suit your lifestyle today, tomorrow may be a different story. Changing financial circumstances might make it difficult or impossible to make your payments. Or health concerns may put vacations on the back-burner.
Perhaps the biggest timeshare con is how hard it is to get out. The timeshare resale market is full of people desperate to get rid of their timeshares. And timeshare companies are fighting to make it even harder to sell. Plus, it’s very difficult to exit a timeshare contract once you’re in. However, it’s not impossible. At Primo Management Group, we help people exit their unwanted timeshares every day. So, contact us to see how we can help you get out.
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