Timeshare ownership can be very confusing if you are unable to differentiate industry myths from industry facts. Every year thousands of people go to timeshare presentations and are fed myths about timeshares by a fast talking salesman. Today we will be debunking 4 common myths can be heard industry wide.
Myth #1: Timeshares are easy to sell.
Fact: Timeshare salesmen often tell potential timeshare owners that if they are not satisfied with their timeshare that it can easily be sold at a fair price. This could not be any further from the truth. The supply of timeshares on the resale market greatly outnumbers their demand for their purchases. A major reason why the demand is so low is due to the high fees associated with owning a timeshare.
Myth #2: Timeshares are a good investment and they hold their value.
Fact: Timeshares are sometimes angled as being a good financial investment. An investment is defined as the following: “The action or process of investing money for profit or material investment”. Timeshares are the exact opposite of an investment. Buying a new timeshare is similar to buying a new car; as soon as a new car is driven off the lot it instantly loses most of its value.
Myth #3: Timeshares are more affordable than staying in a traditional resort/hotel.
Fact: Staying in a hotel for your vacation is not only more cost effective but it is also much more flexible. When you buy into a timeshare you become partial owner of a real estate property, meaning you are responsible for paying to maintain the property even when you are not using it. So if the property were to suddenly need a new roof, new carpet, or new furniture all financial responsibility falls directly on the timeshare owners. This is not the case when it comes to staying in a hotel, you only pay for the time you use the space and all other financial responsibilities fall on the resort. Not to mention you are free to use a hotel whenever you please, timeshare owners are given a specific time of year that they can use the resort.
Myth #4: You’re getting a deal.
Fact: Timeshare presentations happen every day and everyday somebody is told that they are “getting a deal”. There is no such thing as “getting a deal” when it comes to timeshare ownership. If you spend some time browsing timeshare listing websites you will find that there are a ton on timeshares online being sold for as low as one dollar.
Despite these myths being debunked, consumers continue to fall hand their money over to resorts in the form of maintenance fees. This is where we step in! Contact us today if you would like to put an end to all timeshare maintenance fees