Timeshares Can Depreciate Down To Zero Value

We all know that when you drive a new car off the lot, it immediately loses value.  For timeshares, the second you sign that contract in the timeshare sales office, it’s like driving a few cars off the lot at one time.  All timeshares lose 40 to 75 of their value instantly when purchased with a timeshare salesperson.  Why?  The timeshare salesperson and the company that sold it needs their cut.

Plus, the timeshare becomes an asset to timeshare resort.  They’ll be paid every year through maintenance fees and can issue special assessments to the now timeshare owner.  So the value is for the resort, not the owner.

Over time, the resorts have little incentive to maintain upkeep and upgrade.  The property is generating revenue through the fees that are guaranteed by contract.  The excess revenue can then be leveraged into building new resorts for higher maintenance fees and new unsuspecting timeshare owners.

Want to Really Enjoy a Timeshare? Consider Renting or Joining a Vacation Club

When you decide to buy a timeshare you are not simply paying in advance for future vacations you will inevitably take. Buying a timeshare locks you into a contract that is costly and inflexible should your travel plans change over the years.

So before diving into timeshare ownership it is worth taking a look at the other, less expensive and more flexible, vacation options available. There are so many great ways to enjoy a luxurious vacation without having to pay luxury prices.

Renting is the best way to enjoy all of the amenities of a timeshare. Instead of ownership where you are paying a high upfront cost, rising annual maintenance fees and special assessments for a timeshare that you may not use as often as you like (or hardly ever), renting a timeshare is like paying for a hotel room; requiring only that you pay for the accommodation when you use it. You can search a vast inventory of rental timeshares online.

For even more value when planning a vacation, consider joining a vacation club. One club in particular offers especially good value to members and allows membership to be canceled anytime without penalty. Carefree Journeys members can enjoy the flexibility of a staying in a timeshare when they want without the financial commitment tied to resort ownership. Reservations made through many vacation clubs can be done over the phone or through the clubs’ website. Carefree Journeys offers each member a personal vacation concierge to take care of everything from booking flights, renting cars, hotels or luxury resort accommodations, to making reservations at your favorite restaurant.

Whether you choose to rent a timeshare or join a vacation club you are inevitably going to get so much more value for your money than if you had committed to a timeshare contract.

Timeshare Relief – Hurricanes and Timeshares

Hurricane Ike has devastated Texas, Louisiana and the Gulf Coast states since last week when it ripped through the Caribbean, Haiti, Cuba, and the Turks and Cacaos. This storm has taken lives, downed trees, damaged buildings and caused power outages as far as Arkansas, Kentucky and Missouri.

Hotels and timeshare resorts have been affected and damaged by Hurricane Ike and as information becomes available we will learn just how significant this damage is.

Unfortunately for timeshare owners, if the timeshare property is damaged by a hurricane or other natural disaster or incident, maintenance fees and special assessments can skyrocket in price. An article published not so long ago in The Wall Street Journal, “Hurricanes Can Afflict Time-Share Owners”, relayed what happened after Hurricane Francis hit the Daytona Resort & Club in Daytona Beach, Florida. According to the Journal, “Hurricane Francis blew off most of the six-story apartment building’s roof and caved in sliding-glass doors on many of the 34 units. [Months later] only 10 units were habitable…and owners paid a special assessment of $259 per unit-week for new furnishings and remodeling.”

Some of our clients have actually paid out as much as $700-$800 in a single special assessment fee to cover hurricane damage to their timeshares.

If it is not a natural disaster that affects the additional fees you pay on your timeshare, always keep in mind that at any time the developer/owner/manager of a timeshare can increase any number of fees at his discretion.

[Timeshare Relief] Opinions about Timeshares on the Internet

Every person seems to have an opinion about timeshares – whether that person has actually bought a timeshare or not. There are those people who think timeshares are a rip-off and wouldn’t even think about buying one. Then there are those proud buyers who love their timeshares and still others who continue to pay for their units year after year but who really don’t see the value in maintaining ownership. Opinions of timeshares cover the entire spectrum and online everyone is free to express their opinions in the security of the internet’s anonymity.

It’s important to keep in mind that online contributors often have a particular bias claiming truth and/or a vested interest in the particular topic being discussed. When it comes to timeshares, this is certainly the case, as almost all websites about timeshares are created and monitored by people within the timeshare industry who are, of course, in the business of promoting timeshare purchasing and timeshare related services.

Developers and many popular hotel chains rely on timeshare buyers to boost their companies’ profits. In 2007, the timeshare industry generated a $10.6 billion in sales even as the economy was experiencing a significant downturn. Developers and hotel chains have huge amounts of money to invest in timeshare promotion and as a result the internet is now permeated with pro-timeshare messages. These companies have staff members generating positive PR for their timeshares by using the internet’s anonymity to post blogs or contribute articles to websites while posing as satisfied and contented timeshare owners.