Timeshare is often defined by its bad press and misrepresentation, which is generally provoked by new or inexperienced companies. The reality of timeshare is somewhat different to what you read about on the Internet or in the press. Let’s not forget that most people are h3ly motivated to complain while content customers are too busy enjoying their vacations to post their approval. So, what is the truth about timeshare? Scam or worthwhile investment?
Perhaps one of the most controversial fears about timeshare is that the operator will run off with your hard earned cash and you will be left with a credit card bill and no vacation property. The truth is actually quite the opposite; while there are of course unscrupulous companies associated with any business venture, if you buy with an established, validated timeshare developer, being duped out of your money in this way is highly unlikely.
Encourages Regular Vacations
One of the commonly reported benefits of having a timeshare property is that it encourages families and couples to take regular vacations, so as to make the most out of the investment. Getting away becomes much easier and because the area is familiar it also takes the stress out of your vacation.
Luxury Accommodations on a Budget
When purchasing a timeshare your range of options increases greatly and you are more able to afford a property that is way beyond your price range than if you were to go for full ownership. Also, as most timeshares are usually condo-style living or apartments, you are also able to save money on eating out so often without skimping on your pleasure. More importantly, in comparison to a hotel room, you gain so much more living space and enjoy better value for money.
Maintenance fees are a reality of timeshare ownership, just like any condo, but what buyers often overlook is how essential they are to secure your investment and ensure that your unit remains in perfect condition for when you visit. Maintenance fees cover more than cleaning costs, they also include repairs, improvements and purchases of furniture etc, the beauty of which is that the expenses are shared amongst all the owners rather than you footing the bill on your own.
Timeshare companies have a nose for a great destination, and therefore long term investments. With years of expert planning behind the development of any established timeshare company, you can be sure that you are buying into a destination with a future. That is also a benefit if you wish to swap your timeshare for other destinations within the same timeshare group or through a vacation club, as you can be sure where there is timeshare, there is a great destination awaiting.
8 thoughts on “Timeshare Truth”
There is a lot of misinformation flying around about timeshare that can get you into a lot of financial trouble if you believe it. Most of it comes from timeshare salespeople overstating the truth that get repeated when people explain why they purchased a timeshare. But just because something has been repeated many times doesn’t make it the truth
Timeshares need to be looked up as a purchase and not an investment. Regardless of how timeshares are presented, they don´t perform as well as a house or stock investment. If you look around the resale market for timeshares on websites like EBay, Redweek, or TUGBBS will find that you can buy a timeshare for far less money than what the first owner purchased it for.
All true. I like your honisty on the subject. No sales person wants to undo a sale but full disclosure is needed. If one don”t respect the buyer in front of them and meet the needs of the family with the truth … then I hope they don’t last long in the industry. Thank You.
You are a victim of timeshare scam if you were told these statements at a sales presentation:
“…our timeshare is a good financial investment.”
“…you can rent your timeshare weeks and make a profit.”
“…you can sell your timeshare anytime and make a profit.”
“…XYC company will buy your old timeshare for a considerable amount of money.”
“…our timeshare offers you exceptional benefits and discounts for airfare, car rental, cruises, hotels or tours.”
“…our timeshare offers tax advantages.”
“…our timeshare is a deeded or like a deeded property (perpetuity).”
“…please, sign this waiver rescinding your right to cancel your timeshare within the 5 day recsission period as we are activating your timeshare today.”
Many people purchase a timeshare expecting it to be a great acquisition and a good investment. But timeshares need to be looked up as a purchase, instead of an investment. By the time the maintenance fees and the assessment fees start to pour in, they become conscious they got their selves into what could be an exorbitant trouble, full of debts, headaches and unnecessary problems.
The timeshare industry has been into the lion’s mouth for the last couple of years, and it has generated lots of controversy and discussions in many forums and blogs on the web. However, since we’re living an economic downturn, anyone would expect that the timeshare sales collapse, but instead of that the sales seem to be increasing… but this comes with a trap: timeshare scams are increasing too. That leads us to the question: then, why keep people investing on timeshares?
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