A timeshare ownership comes with pros as well as cons. Research states that over 40% of timeshare owners would never recommend investing in a timeshare after their unpleasant experience. The most important reasons behind the dissatisfaction are incomplete knowledge about the deal and failure to understand the ownership terms.
Here are four important things that every individual must be aware of before investing in a timeshare.
Right of Refusal on Contracts
The sales contract must contain a fair opt-out clause in all cases. In Florida, the time span is generally 10 days during which cancellation notices must be accepted with a maximum of 20 days for full refund.
Timeshare is Not a Real Estate Investment
People must wake up to the fact that a timeshare investment is not a typical real estate investment. With a timeshare vacation home, you make look forward to make memories but not money.
A good percentage of timeshare transactions are on the impulse. However remember to leverage your control over the price just like in any other real estate sale. Some owners offer discounts in the form of free gifts. Buyers can also demand a test-stay at the timeshare home they are about to buy.
Choosing the Location
Wise people do not succumb to high pressure sales tactics and choose the right location for their timeshare home. The timeshare apartment must belong to a place that you are most comfortable using.
To avoid any kind of unexpected discrepancies through the process of timeshare investment, it is highly recommended to take assistance from experienced timeshare consultants.