Top Reasons Why Timeshares are a Bad Choice for Consumers
The economy has changed and it’s found that the consumers who purchased a timeshare contract within the last few years are facing the challenges of retirement planning, health and long-term medical care, or other financial planning. Yes! If we analyze the timeshare market deeply, we could find that the industry is filled with buyers who regret their purchase and found themselves trapped in a timeshare contract, which they want to rescind with the help of a timeshare attorney. So, here we have compiled the top three reasons that prove timeshare properties are the bad investment for consumers.
The timeshare costs are designed such a way to attract consumers with a perception of affordability with a low and appealing minimum monthly cost. But, the introductory maintenance cost and membership fee or high and these costs tend to increase depending on the nature of your contract. Also, even if you are using your timeshare once or twice in a year, there is a minimum charge billed to you every month and this becomes worse when these fees continue to rise.
Hard to Sell
Selling a timeshare is very difficult and in most cases it’s almost impossible. The main reason behind this is that the supply of timeshare sale is high compared to the demand for timeshare sales. Also, people don’t want to visit the same vacation spot every year, when they could rent for a week or two in a different locale every time.
They Don’t Hold Any Value
Timeshares have a track record of high value, if you have purchased one in a nonpareil and super luxurious resort community. Even, there is a depreciation of 50% on your timeshare, the moment walk out the door of your vacation property marketing presentation and it’s a hard fact to accept.
If you are about to sign a timeshare contract or ready to take steps to cancel your contract, then consult a professional timeshare lawyer to get expert advice.