Approximately 37% of families say that vacations make them happy and oftentimes these vacations are taken during the summer when the kids are off from school and the weather’s hot. Now that fall’s approaching, you might start to look back on your vacation days with nostalgia.
Wouldn’t it be great to have somewhere to vacation all year round? Unfortunately, this kind of thinking causes many Americans to opt for buying a timeshare rather than a vacation home somewhere tropical.
This is a major mistake, but many timeshare owners don’t realize this until it’s too late.
Why Is Buying A Timeshare Such A Bad Idea?
Some 85% of timeshare buyers say they regret buying their timeshare. Timeshares aren’t profitable property; like cars, they depreciate as soon as the keys are in your hand.
Not only does the value of the property go down but the cost of the property also goes up. Other tenants may not be as nice about keeping the timeshare unit in great condition by the time it’s your turn to use it, which leaves the maintenance up to you.
Additionally, there are hidden fees you may not have known about at the time you signed your contract. These fees, including maintenance fees, can add up and make you feel piled down with debt. In fact, 66% of timeshare owners report that maintenance fees are the main reason why they regret their purchase.
Feeling Beachy? Go For The Beach House
If you’re itching for a summer vacation when the cooler weather starts creeping in, stay away from the timeshares and start looking at beach houses instead. Not only is a beach house located somewhere warm and tropical like a timeshare unit but it’s also a good investment.
Unlike a timeshare unit, you don’t have to worry about other tenants trashing your property. What’s more, you’ll eventually own the beach house once you eventually pay it off. That means you can tell the house later if it turns out it’s not your style.
Is There A Way To Find Help For Timeshare Owners?
There are up to 200,720 timeshare units in the United States. If you’re looking for help for timeshare owners like yourself, a timeshare attorney can help. For information on how to cancel your timeshare contract or how to get out of timeshare ownership, contact the law offices of Susan Budowski today.