Buying a timeshare makes perfect sense in many different situations, but for most people, it is not such a perfect solution, especially for those who find out about what their resort has not told them, one secret at a time. Here are some of the things that resorts might not want to tell their buyers:
- You can get it for much less – many people who have bought a timeshare cannot afford to keep it, so they are offering their property for sale for much less than the price they have paid for it. The second-hand timeshare market is full of great properties offered for half or an even smaller percent of the price proposed by the resort that has contacted you;
- Maintenance fees will go up – most timeshare contracts include a clause that allows the timeshare company to up the maintenance fees charged without the owner’s consent leaving you in a pickle and asking how to sell my timeshare quickly;
- More costs in case of a disaster – when you buy timeshare, you practically buy a part of a property, so if that part is affected by a disaster, you, as the owner, are required to pay for the repairs;
- It’s difficult to get financing – banks don’t consider timeshares to be lucrative investment, therefore finding loans or mortgages for financing a timeshare might be difficult.
Originally Posted over here: Things that Resorts Don’t Tell You About Timeshares
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