Depending on who you talk to, timeshares can have a range of reputations. If you are speaking to a salesman, they are convenient and affordable ways to ‘own’ a vacation home. If you are speaking to someone knee-deep in debt from hidden fees, the story is going to be vastly different. The truth is somewhere in between. There are many people out there who are completely satisfied with their timeshare purchase, while others are buried under debt and unable to use it when they would like. So where is the line drawn between a predatory and beneficial timeshare? The following information should help you decide whether it’s a good idea to get out of your timeshare.
What Is A Timeshare?
To understand where you stand on the spectrum of timeshare disappointment, it’s important to define the term. A timeshare is a legal agreement that allows several joint owners to have the right to use a property at different times. The baseline idea is nothing insidious. It is within the fine print and individual details of each timeshare that issues can arise. Timeshares range widely in things like price, flexibility, and amenities. Depending on these factors, your timeshare could be a vacation or a nightmare.
Flexibility is a major factor when considering if you should get out of your timeshare or keep it. The whole idea of a is having a little slice of paradise for you can slip away to when it’s time for a vacation. If your contract is flexible and works well with your vacation schedule, great! Unfortunately, many owners are ‘stuck’ with a very strict window that they are allowed to use the property. If something important pops up and they need to delay a vacation, they will have to find somewhere else to stay. The worst part, they still need to pay even though they couldn’t use it. It may be a good idea to get out of your timeshare if you find yourself unable to fit your schedule around its availability window.
In some situations, ‘flexibility’ goes beyond when you can use your timeshare. Certain properties are owned by resort chains that allow owners to vacation at any of their locations. Being able to vacation somewhere different every year may be a good reason to hang onto it. However, extra flexibility often comes with a larger price tag, so keep this in mind.
Timeshares Are Not Investments
Did you buy your timeshare thinking it was an investment? If you answered yes, you should probably get out of your timeshare. Many unscrupulous salesmen will pitch the purchase as a long-term investment. In reality, there is rarely any resale value and they have so many fees that make them a depreciating asset, rather than an investment. People who are on a tight budget should not be paying into a timeshare thinking that it will one day get them rich. Timeshares are most beneficial for people who are comfortable financially and are OK with the idea that they may not use the property every year.
Get Out Of Your Timeshare Today
At Timeshare Legal we offer a way out. For qualified candidates, we can completely cancel all recurring points, credits, weeks and any outstanding financial obligations owed directly to the developer.
If you still enjoy your timeshare but upgrades have gotten you in over your head, we also offer partial cancellation services. We will reduce your ownership to a more manageable level where you will still be able to travel within your budget. As one of the most respected and trustworthy cancellation companies, we are committed to helping our clients find the best possible solution for their ssues.