The timeshare market had been booming until the economic crisis affected all industries. In 2007, the timeshare industry had an all-time record in revenue with over $10.6 billion! At that time, there were 4.8 million households that owned one or more timeshares. As the number of timeshare owners has increased, so have the number of people who wanted out but could not find a viable alternative (hence Timeshare Relief). These owners have some common pieces of advice for those looking to purchase a timeshare and 5 reasons not to purchase one.
1. You are prepaying for something that you might or might not use in the future. Use your money in better ways.
2. Scheduling the use of our timeshare was a nightmare. We had to go through the sales department to get into our own timeshare.
3. The timeshare contract seemingly lasts forever…and in some cases it is. These are obligations that are very difficult to renege.
4. You pay maintenance fees whether you use the timeshare or not, and the fees rise every year. Special assessments can hit your mailb0x at any time.
5. The timeshare resale market is flooded with sellers but has few buyers.
Friends don’t let friends buy timeshares. Learn from those that have experienced the pain. The timeshare may seem like a great deal in the short term, but over time they just are not worth the hassle.