Summer is officially here. That means Americans families just like yours are taking off on their annual summer vacations.
It also means timeshare companies are getting ready to hound you into buying one of the 200,720 timeshare units currently in the United States.
So before you pack your bags and get ready to roll, it’s important that you know about the hidden timeshare selling tactics that timeshare companies are sure to use against you when you least expect it.
3 Things Timeshare Companies Won’t Tell You Until It’s Too Late
Up to 37% of American families report that vacations make them happy. It’s for this reason that purchasing a timeshare unit can sound like a great idea at the time of the purchase.
But timeshare units aren’t all they’re cracked up to be. In fact, 85% of timeshare buyers regret their purchase. This is because many buyers aren’t aware of the hidden costs that come with timeshare units.
To help you fight back against timeshare selling tactics, here are three things timeshare companies don’t want you to know about timeshare fees:
- Borrowing cost
The average price of a new timeshare is $20,040. You’ll need to pay an initial cost when you purchase a timeshare alongside an annual cost for maintenance, utilities, and taxes averaging at $660.
- Closing cost
Not only do you need to pay an initial cost for your timeshare unit, but you’ll also need to pay a closing cost. This includes the transfer of timeshare ownership, legal costs, and closing activity.
- Rising maintenance fees
Maintenance fees may seem doable at first, but they’ll increase every year by 5% on average. This is to cover your maintenance of the grounds, insurance for storm damage, interior housekeeping, and more. These hidden costs, in particular, are one of the top reasons why timeshare owners regret their purchase.
Many scammers will try to get your money using timeshare selling tactics. Don’t let them coerce you into anything. You can figure out how to get out of a timeshare contract or how to get a deed in lieu of foreclosure with the help of a professional timeshare attorney.
Susan Budowski has been helping Americans just like you fight back against timeshare selling tactics for years. To learn more about how to cancel a timeshare purchase or to get out of your contract, contact the law offices of Susan Budowski today for a free consultation.