4 Reasons to Stay Away From a Timeshare

While, to many people, timeshares equate to having wonderful spaces and beautiful settings, there are many things to be aware of before deciding. Firstly, you need proper guidance on how to join a timeshare and what it entails. Note that the more information you have, the easier it is to get the best from your efforts. This is vital as most timeshare owners experience stress and financial burden due to limited information and guidance.

When you understand how to invest in a timeshare, you also learn things to look out for, avoid, and handle related situations. Seeking professional guidance is among the crucial steps to take if you want to know how to rent a timeshare cheap and invest without experiencing financial struggles. You also learn practical ways that increase the benefits of a timeshare when you have proper guidance.

What you learn about timeshares goes a long way into helping you develop a timeshare exit strategy and avoid negative outcomes. If you have a lawyer, learning the practical tips becomes easier. Apart from an exit strategy, the lawyer will guide you on how to sell a timeshare without getting scammed or putting your finances at risk. You also get legal representation if you seek to file claims or handle a related lawsuit.

You’ve probably heard a lot in regards to timeshares. It’s understandable to assume that a timeshare could mean having a wonderful space of your own, oftentimes in a beautiful setting. More often than not, many timeshare owners find themselves dealing a lot of stress and financial woe. With that in mind, here are four reasons it’s best to stay away from timeshares.

    1. The Sales Pitch

      Many people target those who are on vacation with the prospect of having a timeshare. In many cases, these people will begin the sales pitch by offering you something that is hard to turn down. For example, timeshare sellers will try to secure tickets to local sporting events or theme parks for you to have. However, these tickets come at a price and usually end up causing you a lot of stress. You’ll often have to sit through a presentation in order to receive your free tickets or another gift. However, these presentations are often stressful and pressure filled environments. Certain timeshare presentations could mean sitting in a strange room while being sold to for hours.

    1. Massive Drop in Resale Value

      It’s not likely that someone would try and sell a car they’ve bought at comparable new car prices. The reason for this is that automobiles drop dramatically with regard to selling price after they’ve been driven off of the lot. Statistics show that the average price for a new timeshare is about $21,000. However, like the automobile, timeshares lose massive amounts of value the second you sign any papers.

    1. Scammers Plague the World of Timeshares

      Almost any industry has to deal with a few scammers. Unfortunately, the world of timeshares is plagued by those who seek out people to deceive. Typically, timeshare scams will approach someone with an offer that seems too good to be true. Certain buyers will think they’ve made a wise decision and jump at some ridiculously low price to have a timeshare. Unfortunately, these buyers will receive nothing and are now the victims of timeshare fraud. After signing a contract, those running timeshare scams vanish with a fraud victim’s money in hand.

  1. Having to Pay Costly Maintenance Fees

    Statistics gathered from a 2016 survey found that 66% of those owning a timeshare wanting to get out of their current contracts due to costly maintenance fees. That being said, getting out of a timeshare contract is much easier with the right help. Considering that, it’s wise to consider contacting timeshare lawyers in your area. In fact, a study by Ernst and Young found that 56% timeshares that are reclaimed take place due to the properties entering a state of foreclosure.

To summarize, there are several important reasons to avoid getting a timeshare. Many who are only considering the thought of a timeshare find themselves dealing with lengthy and stressful sales pitches. A timeshare drops dramatically in value after you’ve signed a contract, making it nearly impossible to recoup the amount of your purchase. Certain timeshare scams involve taking an innocent person’s money without providing them with an actual property. Timeshare owners are at the mercy of having to pay yearly fees, including those associated with maintenance.

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