A lot of people believe that timeshares are incredibly flexible. They purchase a timeshare, expecting to have a blast during their vacation and then forget all about it. After all, they don’t use it that often, so why should the expenses be too big? Also, the people who sold them the timeshare assured them that they could flexibly change the date when they can have access to the property, depending on when they choose to get their vacations next.
Unfortunately, none of this looks as good in reality as it is on paper. Timeshares are still real estate investments that have to be paid with real money. That money may even come from loans that you have to pay back over time. Also, timeshares that are traditionally sold at resorts are extremely expensive to maintain and repair. And finally, when you commit to paying for your timeshare, you also have to commit to paying the high taxes that come with such a high revenue property.
Finally, selling your timeshare will not be easy, since many people already know about the pitfalls of timeshare investing and purchasing a timeshare for leisure purposes. So make sure you do enough research, consult your CPA, and get a free consultation with a company that specializes in helping folks, asking how do I cancel my timeshare contract, to avoid all the hassles of getting out of it on your own.
First Posted right here: The Trouble with Timeshares: Understanding Why Timeshares Are Not as Flexible as They Might Seem
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