• February
    22
    2019
  • 3 min read

Want to Buy A Timeshare? Think Again!

buy a timeshare

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Before you buy a timeshare, check out these reasons not to!

We understand why you might want to buy a timeshare. Maybe you want to live a vacation lifestyle. Or maybe you want to get great deals on travel. Maybe you’re looking for an investment. Or maybe you want to build memories with your family. We’re glad you stopped here before signing that contract. Here are the top reasons NOT to buy a timeshare.

Timeshares Are Not Investments

Although your sales rep might tell you differently, a timeshare isn’t an investment. In fact, it’s an obligation. Investments typically have an intrinsic value that increases over time. Timeshares? Not so much. Timeshares have no real value. As soon as you sign that contract, your value decreases much like buying a new car. And if you think you’ll get tax breaks or improve your credit score, think again. You can’t deduct timeshare payments and most companies don’t report on-time payments. However, they will deduct late payments, which can hurt your credit score. Finally, once you buy a timeshare, you’re obligated to pay maintenance fees, special assessments, and other fees. Doesn’t sound much like an investment to us.

You Pay For It Even If You Don’t Use It

Once you’ve paid off the average $22,180 price of a timeshare, you must still pay annual maintenance fees for the duration of your contract. Even if you can’t use it. Even if a natural disaster strikes and the resort is uninhabitable. And speaking of that, if disaster does strike, you may be looking at paying mandatory special assessment to cover repairs. Even if the resort is in good condition, you may have conflicts. Bad timing, health issues, and financial concerns can all get in the way of any vacation. If you don’t own a timeshare, all you have to do is not go on a vacation. Problem solved. However, if you do own, you’re still on the hook for those pesky fees.

You Can Stay At A Timeshare Resort WITHOUT Buying

Your sales rep probably won’t tell you that many timeshare units are also available as rental units. And as a renter, you don’t have to pay maintenance fees in perpetuity and you aren’t locked into the same week every year. Also, you may be able to stay in a timeshare for less than you would pay as an owner. And if you don’t have a good experience, you’re free to go someplace else next year. Or maybe you’re bored. No problem. Ditch the beach resort for Europe. You have all the flexibility in the world. If you’re looking for cheap vacations or the timeshare experience, you don’t have to buy a timeshare.

It’s Hard To Escape

The real dark side of timeshare ownership is that getting out is hard. If your timeshare isn’t working out for whatever reason, you can’t just get out. Your contract is very clear about that. Many people find themselves caught in the timeshare trap, unable to sell, unable to return it, and unable to keep paying fees. That’s where we come in. We help people get out of their timeshares, guaranteed. If you’re looking to get out of your timeshare, contact us for a free consultation today.

(Image Source: Canva)

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