Timeshares always sound like a good idea when you’re listening to an enthusiastic salesman during a pitch. However, once you’ve signed the agreement and experienced the difficulty of actually scheduling your vacation around the other people sharing your unit, the excitement quickly wears off. We’ve discussed some of the reasons you should avoid timeshares in a previous post, and today, we’ll take a look at two more reasons why timeshares are simply not worth your time.
Financial Situations Change
Timeshares require monthly payments, much like a mortgage or rent. While you may be able to afford the payments in your current situation, you never know what changes lie ahead. Changes in career, unexpected health issues, and incidental necessities can dramatically alter the amount of money you have available each month. Even if you’re not using the timeshare, you’re still expected to pay for it every month, increasing the financial burden on you and your family. In addition to changing financial situations, vacations cost money. You may not be able to afford to take a vacation every year, but you’ll be expected to make payments on your timeshare, regardless.
Timeshares are not flexible in their date arrangements. In fact, trying to change your scheduled time can be incredibly difficult because you’re working with so many other people who want to use the property as well. While it may seem like a good idea to set aside a few weeks a year for you to use the unit, you may not always be available during those reserved times. There’s always the chance that your fellow timeshare holders may not be able or willing to switch dates with you.
If you’re considering purchasing a timeshare, think long and hard before you take the leap. If you already have a timeshare and are looking to get out of your timeshare contract, call the experts at Wesley Financial today.