Ask anyone about timeshare and you will probably receive a wide range of responses from those who think they are a waste of money to happy customers who vacation every year in their properties. The truth about timeshare is often blurred by the complaints of disgruntled owners who purchased with emerging companies or those who fell foul to fraudsters. However, beyond the misfortune of a few there are a number of benefits to which many satisfied and happy owners can testify.
Content timeshare owners would probably agree with the fact that since buying their units they have taken more vacations. It is true that owning a timeshare property is a positive incentive to take advantage of your free time. Knowing where you are going to visit on vacation takes the stress out of organizing yourself, family and friends while leaving the options open to visit other destinations where your company operates.
The accommodations offered are also usually very spacious condos or apartments. The advantage over a hotel room is that you are able to cook and have more space for socializing within your own unit. You gain a stress free experience – a home away from home. In addition, the properties offered enable you to buy a share in a luxury property at a low cost, as though your future vacations were paid for upfront at today’s prices.
Maintenance fees are a common complaint of those who are not timeshare owners. They are often seen as some kind of hidden cost when in reality they are an integral part of your investment and one that actually secures the ongoing enjoyment of your property for years to come. The truth is that they are compulsory to protect owners from having to foot the bill for their neighbors who may decide to skip on their fees.
Finally, falling victim to a timeshare scam is a potential yet minimal risk, just like any other fraudulent deal, but the truth is that by far the majority of timeshare operators are offering a legitimate deal. That is, when people complain about a timeshare scam, they are usually taking about a illegitimate or emerging company without a long-standing reputation behind them. The key to remember is that timeshare itself is not a scam, customers just need to be careful about the timeshare companies they invest in, and there are many reputable and established companies offering amazing deals.
Timeshares are not scams. A timeshare is a fractional ownership that you can use during a specific time of the year. However, regardless of what the salespeople claims, a vacation property should not be considered as a financial investment, in most cases, the customer has to pay an initial price and periodic timeshare maintenance fees, which are probable to increase each year, therefore, a timeshare should be only considered as a vacation option.
Timeshare industry is known for being very susceptible to scams. Year after year, thousands of people around the world feel they were scammed by a timeshare developer. The reason why fractional ownership is successful, it’s because shared properties have become a tremendously profitable way for resorts to sell real estate- mostly suites in important touristic destinations. On the other hand, despite the success, timeshares have gained a bad reputation.
Time shares can become a huge financial problem for those who have bought one, and don’t know what to do with it. Should they sell it, donate it, rent it or cancel the contract? The truth is that the cancellation of the contract has always been the best and most viable solution to get out of a timeshare legally. Therefore, it is very important to know the rules of timeshare cancellation to get the process done in a secure way.
There are good timeshares out there, as well as there are people who feel happy about their timeshare purchases, especially those who enjoy to vacation at the same place and are not spontaneous travelers. Unfortunately, due to the big number of timeshare scams being committed against many vacationers, the industry has gained a terrible reputation.
Timeshare companies started their operations in the United States back in 1974. The concept was well accepted by many entrepreneurs due to the big profits they could make, being that they could sell a room more than once to different owners. Then in the late 1980’s, several timeshare companies started to run in Mexico, Canada and other countries in America.
Timeshare scams have been around since the beginning of the timeshare industry, but these frauds weren’t well known until recent years. What happen is that before there were not as many timeshare laws and regulations as there are now (as you can see on the article get out of a timeshare legally so many of the owners just resigned to the fact that they had to keep the timeshare they bought without thinking.
Timeshares have been consistently known for different things: some positive, but most of them are very negative, which has created a smokescreen around the whole idea of timeshares. There are many timeshare owners who feel joyful with their purchases, but there are even more who regret having bought a timeshare, and want to get rid of it at all costs. The resale market has stayed extremely active, and you can even get a free timeshare or just for a few bucks.
Timeshares can be a terrific purchase for some families, as they also can be a giant rip off for others. 50 years ago, also known as Holiday Home Sharing or timeshare travel timeshares were created with the idea of offering fully furnished accommodations for a lower price than a full-time ownership.