The Pros and Cons of Purchasing a Timeshare

Posted by David W.Bates on February 6th, 2019

Timeshares are properties with divided use rights or ownership. They are usually condominium units in resorts that you share with other timeshare owners. Having a timeshare means having access to the property for the agreed number of days per year. It may sound like a good idea at first, but you might change your mind later, in which case you need timeshare termination services.

Should you cancel or not?

                                                                                                   
The answer is really up to you. Timeshares are not all that bad—in fact, they can make sense, in some cases. Below are some of the benefits of purchasing and holding on to a timeshare:

• You usually get what you pay for – Timeshares are usually financially attractive to individuals who want to have their own vacation home in a popular resort but have no means to actually buy one. When you have a timeshare, you can live in the condo for a given timeframe that is meant for you.

• Good for big families – Properties are typically spacious and luxurious condos with several bedrooms. This can be advantageous if you want to go on a holiday with your family and not have to worry about being separated by booking different hotel rooms.

• You can sublet the unit – Some property owners consider timeshare termination when they do not find the ownership beneficial to them anymore, but others may consider it as an investment when they sublet it and make a profit out of it.

Despite all those advantages, however, many timeshare owners consider terminating their contract due to unnecessary and exorbitant fees—and for the simple reason that they do not want the property anymore. You can also consider timeshare termination if you think that you made a mistake in buying it in the first place. Below are just some of the many timeshare disadvantages that may prompt you to cancel your contract:

• Miscellaneous costs – Many individuals are tricked into thinking that they can save money by buying a timeshare, only to realize that they are spending more than they should in the long run due to maintenance fees, taxes, mortgage, and special assessments.

• Decreasing value – Timeshare termination may be considered if you think that the property has significantly lost its value and continues to do so.

• Ridiculous contracts – Most timeshares come with a so-called ‘lifetime contract’, which you can pass on to your heirs, whether they want it or not.

Talk to an expert who can help you exit your contact. They can put you in touch with timeshare lawyers who can assist you, as well as provide valuable information on your rights as a consumer.

About the Author

Advocate Financial Services is a Licensed Bonded Financial Educational Platform that employs to assist their customers in managing their debts. They have an experience of over 25 years in serving their customers concerned with financial and debt related matters such Consumer Debt settlements, Transfer of ownership and Timeshare Contract Cancellation. They are adept in providing strategic advice and cater trusted consultant to customers to them succeed in meeting their goals.

Email Address: info@advocatefinancialservices.com  

Phone Number – (866) 519-7368