Timeshare Tips for The Average Joe
With the introduction of timeshares, you could only hear of the merits and a lot of people were not talking about what could possibly go wrong but over time the things have been noted and it is good to be cautious. However, before you get enticed into that deal you thought was so sweet you have to dig below the surface. You are probably going to focus on the amount you will pay for the timeshare but you will later realize that there is a mandatory annual fee to be paid on annual basis. You might find yourself spending a figure north of $1000 dollars if you are not careful. This fee is to be paid whether you use that timeshare or not. As the years by, the amount of money you are spending towards the timeshare maintenance will accumulate and you will realize that things are not as rosy as you would have wished. If you found another investment opportunity to channel the money through where you can earn interest it would be much better. If you decide to stay in a hotel during your vacation then you will spend much less. The contracts are usually indefinite which means you won’t get out easily. As long as you are living and breathing, you will have to honor the payment of the maintenance fee that is not something to take lightly. Even though there is the issue of earning points now, the exchange rate is pretty low and it is not even worth it.
Having timeshare at a particular hotel means you can only get free accommodation there which means exploring other areas will still require you to pay. A closer look at this and you will realize it is not worth your time. Since there are many people with timeshares, you are not just allowed to drop in at any point and if your slot passes you have no other option to wait for the next year unless you are willing to pay for the full amount. You won’t find timeshares you are not free to use as you wish very useful. Nothing is written on stone and the time you were hoping to go on vacation might present you with new challenges. There is not even a single component of investment in timeshares and the people who are serious about how they use their money should think about that. This arrangement only benefits the salespeople and those who own the resort. Your units for the timeshare will decrease in value with the passage of time. This is because the initial cost includes the giveaways, incentives and sales presentation. Also, the salespeople will come to you when you are on vacation and not thinking through your decisions.