When timeshares were introduced, they were packaged in a manner that made them sell fast but as time went by and analyzers dug into the issue, the bad was exposed. It is important for you to consider all the points before you buy a timeshare. You are probably going to focus on the amount you will pay for the timeshare but you will later realize that there is a mandatory annual fee to be paid on annual basis. This can be one thousand dollars or more depending on the kind of a timeshare. Regardless of whether the timeshare was claimed on that year or not, this amount will be deducted. When you think about this in the long run, you will realize it is money you could have saved. You would be happier putting the money somewhere it will earn you interest. When you go for a hotel instead, you may not even spend one thousand dollars in a year. The contracts are usually indefinite which means you won’t get out easily. You will be taking a huge risk financially if you decide to commit to payment of maintenance fee for as long as you are alive. Even though there is the issue of earning points now, the exchange rate is pretty low and it is not even worth it.
Timeshares tie you to a particular vacation location and you won’t be happy going to the same point over and over again. This is not worth it when you give it some thought. Additionally, there is a specific time you should book your vacation to use the timeshare and if you miss out then you have to wait until the next year. There is no point in having timeshares if you cannot use it whenever you wish. Nothing is written on stone and the time you were hoping to go on vacation might present you with new challenges. This is not an investment but rather a way to just pay with minimal benefits. The only people who benefit from such an arrangement are the resort owners and the salespeople. The value of the timeshare will go down over time which means it is just the same as buying a vehicle. The people who are buying the initial timeshare units will also cover incentives, sales presentations and also giveaways in the process. When timeshares are presented to you during a vacation, your defenses will be down and you are likely to give in.