Timeshares are a bad idea for many reasons. According to VMC, about 9.9 million families own timeshares. Most of these families end up regretting their decision after they realize how costly they become each year. Don’t get caught in a trap! Here are three reasons why you shouldn’t invest in a timeshare.
1. It’s a Bad Investment
People buy timeshares because they believe that they actually “own a piece of the property” and are making a good investment. The piece of property that they own is so small that it really holds no value. Additionally, you’re paying for the buy-in and then you’ll need to pay for maintenance costs for the rest of your life. Some years you may not be able to take a vacation, yet you’ll still pay the maintenance fees all year long.
2. It is Restrictive
Do you really want to vacation to the same properties year after year? You may love that seaside resort this year, but do you want to go back every year? There are so many restrictions that you have to contend with that limit your ability to vacation where you want to.
It’s not just the limited locations, it’s the black-out weeks or other issues that keep you traveling when you can or when you want to. The plans are very restrictive and you typically don’t realize how restrictive they are until you try to use your timeshare. Timeshare support services that help people exit from their timeshare cite this as one of the main reasons that people want out.
3. The Costs Constantly Go Up
Timeshare support services are often called in to help someone exit their timeshare because they can no longer afford the maintenance fees and other costs. You may be locking in the price of the timeshare itself, but there is no lock-in price for the maintenance costs. The cost over the years can become cost prohibitive.
If you’re thinking about investing in a timeshare, consider these important factors. If you have invested in a timeshare and you want to get out, consider consulting with a professional timeshare exit company. At Lonestar Transfer, our timeshare support services are available to give you all the support and guidance you need to exit your unwanted timeshare. Get in touch with us today to learn more!