• June
    11
    2019
  • 3 min read

What Is The Appeal Of Timeshares?

understanding timeshares

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How do timeshares make so much money? There has to be a reason why the industry generates so much money every year. Are people really that gullible, or is it that there is value in what these companies are offering? The first thing you have to realize about these deals is that some of the, in fact a large percentage of them, are decent and fair. If you are frequently visiting or vacationing in a specific area and you are trying to reduce your costs as far as getting a hotel or renting an apartment, then timeshares are a great option for you.

Family Vacation

Imagine a family who wants to visit Orlando during December and the first week of summer. They have three small kids and they want to go to theme parks and enjoy the local attractions that are available. A hotel can cost thousands of dollars a year and can be hard to book, not to mention dealing with the cleanliness of the room, other guests and more. When you consider all of that, it’s easy to see why these people have an interest in signing up.

Looking For An Investment

People have an interest in investing in real estate. They know that the value can go up over the years and that they either have a very affordable place to stay on vacation, or they can sell their days or weeks at a profit, something that many timeshare owners are able to successfully do. Again, if it was a complete scam, there wouldn’t be an industry.

Friends And Family

Another reason people buy in is because friends and family are as well. Your trusted friend who does well in real estate investing has done their homework and they know that this is a good deal for you. You want to vacation with them for years and you decide to buy in the same area they are.

So, What Goes Wrong?

There are several things that can cause someone to realize that they do not get a great deal and that they need to get out of the timeshare. Loss of value in the property, expensive maintenance fees, increase in taxes and insurance, less desire to visit the location and plenty of other reasons can turn your vacation home into a place you wish you never signed up for. If you are not sure whether or not it’s time to get out of your deal, contact us today for a free consultation.

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