Timeshares are designed to allow owners to stay in a place of their choosing on an annual basis. These are normally based in sought-out areas, For example, about 23% of Florida’s vacation resorts offer timeshare ownership, with total sales of 2.4 billion yearly. This includes several properties within the Walt Disney World Resort.
However, as a timeshare support service would say, there are plenty of concerns when dealing with these properties. This is especially true when they offer a vacation package as an incentive. If this is something you’re looking into here are three things to take into consideration.
Fully Explained Costs
The biggest issue a timeshare support service gets calls on is resort costs. This isn’t related to the monthly subscription fee. Instead, it’s sometimes exorbitant HOA fees, taxes, or other costs not described in the initial agreement.
Before you sign anything make sure the timeshare representative provides every cost related to the property. A hesitancy to reveal this information signals potential issues in the future.
Available Reservations in Ideal Areas
The biggest problem timeshare owners encounter is a lack of prime dates and locations to make reservations. Many companies mislead their customers on this. As a result, they end up getting a timeshare during a time of harsh weather.
Don’t go with an organization with a tiered schedule. In other words, you shouldn’t have to pay three years into the timeshare before you have an opportunity to stay in a beachfront resort during the summer. The company should have an open schedule and ample properties to cover all of its owners.
Opt-Out Clauses Without Conditions
Many timeshare companies offer an opt-out option for the customer that usually ends within seven days after the contract is signed. From that point on you pay the scheduled fees. If you get to the point it’s not worth it or unaffordable, then you end up paying excessive fees if you decide to break the contract.
You want to work with a timeshare organization that offers an option to cancel the contract without conditions. They should be willing to work with you in any financial situation to void the deal. Companies that mention this upfront should be considered first.
Overall, be careful when it comes to signing up for a timeshare. If you have questions, then speak to our timeshare support service for additional help.