Timeshares usually look great when they are presented and the fees and costs mentioned during the presentation are not that high, so the investment looks like a great opportunity for cutting vacation-related costs, while also giving the benefit of safety. However, timeshare costs include several items that are more or less hidden or look insignificant when you make the final decision and sign the contract, but can easily become a burden later – here they are:
- Maintenance fees – the costs related to property upkeep are not really hidden – most timeshare presentations inform the potential buyers about their existence. What is not that obvious about them is that in most cases, the timeshare management company is entitled to increasing maintenance fees unilaterally, without needing the consent of the owner. This information is usually included in the contract, but most timeshare transactions are impulse purchases and very few buyers take the time to read the contract before signing it;
- Repair fees – even though timeshare properties are usually well-maintained, they can be destroyed by natural disasters and the repair costs are usually paid by the timeshare owners;
- Costs for your heirs – many timeshare contracts are contracts in perpetuity, which means that the duration of the contract is extended beyond your life, the costs being transferred to your heirs. Find more options, to get out of a timeshare you no longer can afford, https://www.timeshareterminationteam.com/.
First Posted right here: The Hidden Costs of Timeshares – Details in Small Prints and Others
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