Timeshares, let's face it, get a bad rap. High-pressure sales pitches, baseless promises and hidden costs are part of the picture for far too many buyers. But they're a good thing for some people.
The main difference between delight and disaster, when it comes to considering the purchase of a timeshare, is knowing exactly what you're getting into. You're a good candidate for timeshare ownership if:
1) You do not expect a return on investment as you would with other properties. Unlike traditional homes, timeshare properties do not appreciate over time; quite the opposite, actually. A share in a new resort becomes a share in an old resort; a share in today's hot location becomes a share in yesterday's news. If you buy deeded shares, look for contract language that makes selling easy. If you buy leased shares, look for a short-term contract.
2) You should have plenty of disposable income available. Youll be on the hook for yearly maintenance fees, and since youre a property owner, youll likely be responsible for fixing or replacing furniture, appliances, and damaged structural elements. You'll also be assessed for your share of future upgrades and renovations.
3) You should feel as certain as possible that your circumstances will remain stable and that the travel involved with using your shares or points will continue to be possible for you for the duration of your ownership or lease. Make certain that your contract allows for some options that are easier to access than your initial facility if you've bought into a timeshare in an exotic location.
4) You have family to whom you can pass on your timeshare when you can no longer use it, since selling a timeshare is not usually something that happens quickly or easily. Be sure the language of your contract allows you to transfer ownership.
5) You should have an experienced
timeshare attorney. Did you notice how often the words "contract language" appeared above? Taking the time before purchasing a timeshare to review the terms of your contract with an independent professional will, in the long run, save you money and frustration.
All that said, a timeshare may be ideal for you. If not, consider vacation options like small tour groups, vacation rentals, and other less binding arrangements.
If you would like information on how to legally get out of a timeshare contract without hiring an expensive timeshare attorney visit http://www.ProfessionalTimeshareServices.com and request a free consultation.
