Wednesday, August 15, 2012

The Pros and Cons

Timeshares have become a great debate in this era. But to actually understand timeshares you have to know the benefits and disadvantages of it. In this post, we are going to go over all of the benefits and drawbacks related to timeshares so you can make the right call for you and also your family. If you decided to get a timeshare in the past and wish to get shot of it, contact Transfer Smart right now. They have helped thousands of timeshare owners and they will help you as well. 

PROS : 

One. Saves money 
The purchase of a timeshare guarantees that you've got a place to holiday at each single year. Over the span of your lifetime you may just be able to save money because you won't be coughing up for hotel rooms every time you vacation. 

2. Different Vacation Locations 
Some timeshares are purchased at a specific location and the buyer is only ready to visit that location each year. Nevertheless there are more timeshares that permit you to select which destination you would like to visit nationally or internationally. In cases like these you and your family get to travel to different places annually instead of the same one. 

3. More Vacation Space 
Unit sizes are generally fairly big. Most timeshares have a kitchen, living room and a couple of bedrooms. This implies that you can bring along more family members. Usually these units also include a washer and dryer so that you can save cash on dry cleaning. 

4. Less expensive than a vacation home 
Vacations are sometimes quite dear. In addition to the price you alone are answerable for the upkeep of the property while not in use. If you and your family only take holidays a few times a year, timeshares make rather more sense than buying a 2nd home. 

Five. Potential Second Income 
Many times if an individual can't use their timeshare they attempt to hire it out to others. This way your charges are covered for the year. 

CONS : 

One. No Increase in Value 
Unlike real estate, timeshares do not appreciate in value. It is quite the reverse actually. Timeshare sometimes depreciate in worth like automobiles. So the $20,000 or so you spend on your timeshare will continue to depreciate in value till you sell it. 

Two. Almost Impossible to Resell 
With the quantity of timeshares on the market today, it is almost impossible to resell your timeshare. At this time, there are way more sellers then there are buyers. Many timeshare owners are so frantic to sell their timeshare that they try and sell it on EBay for $1 or even worse, giving it away freely. 

3. Annual fees / Maintenance charges 
On top of our 1st purchase price you are responsible in paying yearly maintenance costs. Resorts are able to bill timeshare owners for any kind of maintenance or remodeling ( i.e. Utilities, real-estate taxes, appliance repairs, housekeeping, and so on). 

Four. Options are Limited 
When trying to book your holiday week the earlier you do it the better. Availability is first come first serve and it's quite tough to book the week you want. You will be competing with other families on who gets the timeshare during prime time. 

Five. Money Issues 
When you buy a timeshare it makes sure that you have a holiday spot every year which means you are paying upfront for all of the vacations you'll be taking. Nevertheless what if you cannot holiday one year and nobody will hire out your timeshare? You fundamentally lose money. So on top of all the yearly fees resorts are making you pay, you're also making regular payments to repay your timeshare ( unless you get the timeshare upfront ).