Pros and Cons of Owning A Timeshare
Thursday, April 30th, 2009When it comes to timeshares, it seems like the same old song and dance, doesn’t it? You eagerly pack your bags for that two-week vacation to Puerto Vallarta, only to discover that you can only use your vacation time during the rainy season. Undaunted, you try to transfer your weeks to another destination, but are quickly stopped in your tracks when your timeshare agent tells you that it’s not allowed. As if that wasn’t bad enough, you only get more frustrated when you open the mail and discover a bill for your timeshare packed with hidden fees!
This all leads to one big question: are timeshares ever worth it?
Once upon a time, timeshares were all of the rage. It seemed like an incredible opportunity: for a yearly fee, you could grab an allotment of time at multiple tourist hotspots for much less than what you’d initially pay online or through a travel agent. Ski trip to Aspen? Done.Scuba diving in Australia's Sunshine Coast? Check.
Or so timeshare agents will lead you to believe.
Timeshares have also been touted as a great investment scheme, with many consumers often selling their timeshares for much more than what they were purchased for. To the uninformed investor, timeshares sound like a safe yet extremely profitable investment to add to the portfolio, as it has immeasurable potential to skyrocket in value.
Again, things are not as they seem. Timeshare agents are notorious for their ability to convince (even bully) consumers into purchasing their products after outlining just how lucrative the timeshare market can be. Yet there are a few major downsides to timeshares that every intrepid traveler and investor needs to be aware of:
Timeshares Lose Value over time. Timeshares should never be bought for investment purposes, as there’s a high possibility that you won’t recoup your costs. Since the market has thousands of shares available, it’s a buyer’s market – which means that if you want to sell, you’re at the mercy of a potential buyer.
You Must Follow A Vacation Pattern. For those who love visiting new locations whenever possible, timeshares present quite a problem, as you must plan significantly in advance to use them. Hardly suitable for those who want the freedom to travel without loads of paperwork, no is it?
You’ll Encounter Blackout Dates. Remember that ski trip that you wanted to take to Aspen? If you have a timeshare, forget about it – timeshares are notorious for their blackout dates. If you’re looking to take your vacation at the height of the tourist season, your timeshare will force you to take your holiday at the worst possible time during the year.
Timeshares Are Infested With So Many Hidden Fees. Are you in sticker shock at the cost of your timeshare? Don’t be surprised – timeshares are packed with hidden fees, including security costs, holding deposits and other expenses. That “cheap vacation” will quickly drain your bank account dry!
Okay, so we’ve covered the bases. We know that timeshares aren’t all that great, even if you’re interested in purchasing one solely for leisurely purposes. So if you’re not willing to pay outrageous resort or hotel prices in order to enjoy your dream vacation, what’s a savvy traveler like yourself to do?
Simple: grab yourself a Platinum Luxury Resort membership with the ultimate luxury holiday club! With your membership, you’ll have access to thousands of timeshare resort properties, VIP access to peak season weeks, top customer service and no blackout dates.How good is this, lifetime memberships are only ever a onetime fee - just try finding the same deal with a timeshare agent!
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