Timeshares: Pros & Cons

Timeshares are now a huge discussion in this era. But to actually understand timeshares you must know the advantages and drawbacks of it. In this article, we'll go over all of the pros and cons related to timeshares so that you can make the correct decision for both you and your family. If you decided to purchase a timeshare in the past and wish to get rid of it, contact Transfer on the Spot today. They have helped an uncountable number of timeshare owners and they will help you too. 

PROS : 

One. Saves cash 

The acquisition of a timeshare guarantees that you've got a place to vacation at every single year. Over the span of your lifetime you may be able to save money because you will not be coughing up for hotel rooms every time you holiday. 

2. Different Holiday Locations 

Some timeshares are acquired at a specific location and the buyer is only able to visit that location each year. However, there are other timeshares that permit you to choose which destination you would like to visit nationally or globally. In these cases you and your family get to go to different places each year instead of the same one. 

Three. More Vacation Space 

Unit sizes are usually fairly big. Most timeshares have a kitchen, living room and a couple of bedrooms. This means that you are able to take along more family members. Sometimes these units also include a washer and dryer so that you can save cash on dry cleaning. 

4. Less expensive than a holiday home 

Holidays are sometimes quite dear. In addition to the price you alone are answerable for the upkeep of the property when not being used. If you and your family only take vacations a few times a year, timeshares make rather more sense than buying a 2nd home. 

Five. Potential Second Income 

Many times if a person can not use their timeshare they try to lease it out to other people. This way your fees are covered for the year. 

CONS : 

One. No Rise in value 

Unlike real estate, timeshares don't go up in value. It is quite the reverse in reality. Timeshare usually depreciate in price like cars. So the $20,000 or so you spend on your timeshare will continue to depreciate in value till you sell it. 

Two. Incredibly difficult to Resell 

With the amount of timeshares on the market today, it is next to impossible to re-sell your timeshare. At this time, there are far more sellers then there are consumers. Many timeshare owners are so desperate to sell their timeshare that they try to sell it on EBay for $1 or even worse, giving it away freely. 

Three. Annual fees / Maintenance costs 

On top of our 1st purchase price you are responsible in paying annual upkeep charges. Resorts are able to bill timeshare owners for any type of maintenance or transforming ( i.e. Resources, real-estate taxes, appliance repairs, housekeeping, for example). 

4. Options are Limited 

When trying to book your holiday week the earlier you do it the better. Availability is first come first serve and it's quite difficult to book the week you need. You will be competing with other families on who gets the timeshare during prime time. 

5. Money Issues 

When you purchase a timeshare it guarantees that you've got a holiday spot each year which suggests you are paying upfront for all of the vacations you will be taking. Nevertheless what if you can't holiday one year and no one will hire out your timeshare? You fundamentally lose cash. So on top of all the yearly charges resorts are making you pay, you're also making monthly payments to pay down your timeshare ( unless you buy the timeshare up front ).