When purchasing a timeshare, one might consider asking herself or himself of the amount that he or she will be spending in buying the property and as he avails it. Is it really worth the cost? Is it worthy enough for you to pay high amounts for? If it isn’t, think about it. Yet, if it does bother you, the answer of this question might be a yes or a no.
Yes in the sense that, it’s all yours. You can have the vacation of a lifetime with it without renting hotel rooms or townhouses. You can make everything and anything with it. Timeshare industry has already been growing by leaps and bounds. It’s no longer a small business since big resorts and hotels are into it nowadays. There is an estimation that it’s a 5 billion a year industry and the number of Americans purchasing timeshares reached at approximately 2 million. These are some of the reasons why they might have been so overwhelmed by timeshares and are convinced to purchase their own one.
When on a vacation, it’s already a given fact that you pay rent for a hotel room or a resort room. Let us say, you can have an average hotel cost of $900 for a week of vacation. If you are planning to stick with this kind of vacation pattern, let’s say for 30 years, you will spend a total of $27,000. On the other hand, if you are going buy a timeshare for $10,000 and pay its annual maintenance fee of $ 450, you will have a total cost of $23, 500 for the same 30 years. So if you would look at it, comparing both cases, you can actually save $3,500 if you would purchase a timeshare and stick with it rather than paying rents for a hotel room. Whatever the difference in costs, it can still be inferred that you could save much more money from buying timeshares.
Aside from that, you could experience the comfort home in a timeshare property. It has a lot of things to offer you from amenities, services and etc. You could be at ease and would not worry about fixing it up and taking care of it from time to time since the timeshare company would do that for you. Plus, you can always have the assurance of having a place to go to for a vacation a year. It’s heritable and as some would say, or as timeshare companies promise, it’s like money lying safely in your banks.
It may sound so great and all but don’t you think it’s all too good to be true? I’m not really cutting your daydream there but purchasing a timeshare might turn out as a nightmare for you. Here comes the “no” part answer of your question.
It might be a fact that timeshares can give you luxury, relaxation, comfort and etc but it’s not definitely a wise investment. You can purchase it by $10,000 maybe but the annual maintenance fee of $450 isn’t really consistent. It can reach up to $ 1000 a year and if you would stick with your timeshare for 30 years, it would reach up to $30,000 plus the $10,000 you’ve spent in buying it, that’s a total of $40,000. That’s almost $20,000 more than renting hotel rooms and the likes. So don’t just jump into things when you don’t have knowledge about it. If you could keep up with these payments, then you could definitely enjoy your timeshare that much but if you are financially incapable of this increasing rates and fees, you might as well drop off your timeshare soon enough before you go bankrupt.
One company that might help you transfer your timeshare contract out from your name is Timeshare Relief. It would give you a clean and easy exit solution from it. Reselling your timeshare is not its offered service. It gives you more than that. Contact them if you’re already drowning from the financial problems your timeshare is giving you, they’ll help you out.
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