The Pros and Cons Of Purchasing A Timeshare
The idea of “owning your vacation” with a timeshare (as promoted by timeshare sales reps) is so appealing to so many people who like to go on holiday each year. But making the decision to purchase a timeshare is something that should be deeply considered after weighing the pros and cons of such a big purchase! Here are a few of the pros and cons you should think about before making the leap into a timeshare:
Pay For What You Use
One attractive feature of a timeshare is that you really get to choose what you want to pay for. If you want to go on a 2-week vacation each year, you can pay for a share of a condo or resort for just that much time per year, as opposed to buying a condo that you can only use for part of the year.
These days, timeshares are quite flexible and you can even switch up the dates and locations for your timeshare each year. It often takes some planning and preparation to exchange your timeshare, but as long as you’re organized you can enjoy the benefits of a timeshare all over the world.
Convenience Owning a timeshare is quite simply very convenient because you don’t have to spend time planning a new vacation each year. You will already have your location and accommodation sorted!
They don’t tend to advertise these when they sell you a timeshare, but maintenance fees are just some of the hidden fees that will start popping up once you own your timeshare property. Maintenance fees go to the upkeep of the resort or facilities, and can often add up to hundreds of dollars per year.
Unstable Real Estate Market
If you buy a timeshare thinking that it’s a great investment that you’ll get one hundred percent return on, you might want to think again. The real estate market is always fluctuating and timeshares rarely return on their investment. It’s just impossible to predict how your property will sell in the future, if at all.
The previous problem of a volatile real estate market can mean that you’re stuck in a contract with a property that has lost all or much of its value. Contracts can lock you up for several years or more, forcing you to make payments on a property that has lost its appeal and value. If you’ve found yourself in such a situation, don’t feel alone. Many people sign onto timeshares only to realize that it was the wrong choice for them, and companies like Right Choice Transfer are here to help offer advice and assistance for getting out of a timeshare contract relatively unscathed.