Buying a property with a timeshare contract means the right to use that property for spending your holiday. It may sound interesting, but the truth is a timeshare is not so advantageous as it seems. It can actually become quite problematic as it involves a substantial, permanent or long-term financial commitment with recurrent costs that people are typically not aware when they make the contract (taxes, maintenance costs, insurance etc.).
The main disadvantage is that the value of a timeshare declines awfully when you want to resale it, so in most cases you will get stuck with something that you do not need anymore and worse, that you cannot afford anymore.
Owning timeshare has long-term or even permanent effects. Think well if you will still want or be able to use the property over 10-20 years. Will your children (who are going to inherit it and be required to pay the costs in the future) need a timeshare, or it will be a burden for them?
Owning a timeshare is very costly for the benefit of spending a week in luxury. Annual fee, maintenance fees - everything piles up, even if the price may vary slightly according to the period, location etc., and will most definitely leave you asking the question how do I sell my timeshare now that I own it? It is truly a decision that should thoroughly thought out, prior to signing any type of contract.
First Posted right here: Disadvantages of Owning a Timeshares
No comments:
Post a Comment