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Some people love them, some people hate them, but the truth is that they are still one of the best-selling products in the travel industry, despite the bad economy.
There is lots of misinformation about them, yet appearances deceive. What appears to be a “good investment” can become one of your worst financial enemies.
Learn more about it and how to use it properly.
Fractional ownership, better known as timeshare, is a resort condominium unit, with a very particular form of use rights.
When you buy one, you get to share the right to use the property with 52 different owners, including you.
How do timeshares work?
They are generally sold for weeks, which are also known as “intervals”, the resorts offer different plans, to give the prospect buyer more purchase options:
Fixed Weeks: You purchase the right to use the unit during a specific week of the year
Floating time: You purchase the right to use the unit during a certain season of the year.
Splited-week: You purchase the right to use the unit for a week, but in this case, you may split your week into two or three different periods.
Points-based system: You purchase a specific number of points, and exchange them
Before buying, follow the next tips:
- Calculate the total cost of the unit, including the fees.
Keep in mind that maintenance and assessment fees are likely to increase each year.
Then compare the results with the cost of a regular vacation with similar accommodations at the same spot.
- Visit the resort and talk to other owners to ask them about their experiences, and how satisfied they are with their purchases.
- Do not act under pressure. The resort might look like a paradise, and the promises might sound quite appealing, but don’t feel obligated to sign the contract. Take your time to think about the offer and find out if it fits your needs.
- Do not sign any document in a foreign language. Even if you speak and understand the language very well, you probably do not understand the legal terminology.
- Do some internet research on the company. Look for cases of scams and fraud, and how its reputation is.
- Ask as many questions as possible during the presentation, and ask for any written confirmation of all the promises made by the salespeople.
Are timeshares a good purchase?
Not all of them are bad; in fact, they can be a good purchase for someone who does enjoy revisiting the same destination each year.
However, vacation properties are not for most people, being that they only seem to work for people with very specific vacation desires.
They are not for people who like to try a new vacation spot each year, for people who like to travel spontaneously, or families who do not used to stay at expensive resorts.
I want out!
Unfortunately, the big scam about it is the way that sales are done.
During presentations, it is very common that the sales reps tell numerous lies to the potential buyers, just to get them to sign the contract, and many of them fall for the trap.
The hardest part is that timeshares are definitely not easy to get rid of.
At Mexican Timeshare Solutions, we assist purchasers who feel they were scammed.
MTS is the only company that doesn’t charge any upfront fees; if we cancel your contract, we get paid; if not, you don't waste any money.
Contact MTS for a free consultation on how we can help you release yourself from any timeshare obligation in a legally-reliable manner.
To receive more information about timeshares and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form or call us at +1 714 277 3662
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Leave your comment below and share your opinion with us. Do you have any experience with them?
obviously not, timeshares will never be a good purchase, they're expensive and they're unnecessary
Just because something is a top seller whether it’s a book or a timeshare doesn’t mean it’s always a good purchase. My advice to those that want to buy a timeshare is to understand and know the facts first before you buy because it will save you a ton of headaches down the road.
First of all, if you’re buying a timeshare in an attempt to resell or “make a buck” you’re buying it for the wrong reason. Many people get into it because aside from upgrading accommodations and financial savings, it forces you to take vacations and hang out with your family. If you don’t think that’s important or you don’t care, then it’s not for you. The other thing to remember is where you purchase. Purchasing a timeshare in Las Vegas is as good as buying a pet rock in the desert.It’s all about location and that determines your trade value. Ask somebody who owns in a poor location how difficult it is to trade and they will always have something to complain about. Ask the people who own in Hawaii or in San Diego and you’ll see how easy it is for them to go anywhere they want. BTW, you want to know why Las Vegas is a crappy place?? because you can stay at a hotel for 20 bucks a night and NOBODY ever stays for more than two or three days. Supply and demand at its most basic. Bottom line, if your idea of vacation is camping and you’re okay with staying at cheap motels or disease infested hostels and sharing a room with a bunch of hippie strangers, then a timeshare is definitely not for you. A lot of people get great use out of their timeshares and it helps create family time and lets them see the world for a hell of a lot less.
yo podria decirles que es EL PEOR error de mi vida haber comprado un tiempo compartido, si alguien lee esto, espero que sirva de algo para advertirles que jamas compren uno
no es una inversion, no es una buena compra, no es nada, mas que perdidas
no, ellos siempre te convencen de la misma manera, todo su cuento es que sera una buena inversion, pero la realidad es muy diferente, jamas seria una buena inversion si desde el principio es comprado con esa mentalidad
Hello, I have a Timeshare with Wyhdam and I just CANT afford it anymore, no one has money to buy it or interested, I have just stopped paying them, I know it will foreclose, and I dont care I dont have the money, will they take me to court for it?
Maybe it's a good purchase for those who enjoy traveling to the same place, always!
Timeshares are a disaster with their ever-increasing maintenance fees and their special assessments when they decide to put in a new? pool or happen to install new lighting fixtures or need to redo the landscape.
One should never "invest" in a timeshare. A timeshare is a depreciating asset and you will almost always lose money on them.
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