Tips On Timeshares

Timeshares are often marketed as an investment, but they are one of the worst investments that you can make. The reason they are marketed this way is simple - it’s much easier to sell something that sounds like it will make or save you money than something that will cost you a lot of money.

An investment is supposed to increase in value, yet timeshares typically lose 50% to 80% of their value as soon as you purchase it. While the sales person will give you all kinds of reasons that it will supposedly save you money, in all likelihood it will cost you much more than you could have ever imagined.

Here are 7 important facts that the timeshare sales person will likely forget to mention:

1. Timeshares are simply a terrible investment.
2. Whatever the fees are now, timeshare fees will increase and special fees will be assessed.
3. Unless you have a prime vacation date, trading timeshares will be nearly impossible (which means you’ll have to vacation at the same place each year).
4. Financing a Timeshare means you pay double digit interest rates.
5. It costs money to travel to a timeshare (when they add your costs to vacation they will include the travel costs, but those costs will mysteriously be left out of the cost of the timeshare).
6. For most people it makes little sense to buy a timeshare (and if you do, you should always buy used, not from the resort sales agent).
7. It will be extremely difficult to get rid of your timeshare.

If you currently own a timeshare, sit down and run the numbers of what it is actually costing you. You may be surprised at how much that week really costs and if that is the case, the sooner you get rid of it, the better for your personal finances.