Ryan Galiotto

Posts Tagged ‘time share’

Summer is almost here! Do you already have plans of where to spend it? Purchasing a timeshare can give you an ultimate summer vacation experience but before you consider the purchase, it’s better that you know the facts about timeshare ownership because sometimes timeshares can give you luxury or worry.

Owning a timeshare can be a good investment, aside from providing fun and relaxation, it can also be a source of income as you can rent it out. A timeshare week can also be a perfect gift to your friends or relatives for any occasion. Moreover, you can pass on the ownership to your heirs from generation to the next. These timeshare advantages can be considered a luxury, indeed, but as roses come with thorns, timeshare ownership also has corresponding disadvantages. Let’s find out what are those disadvantages.

True enough, a timeshare is a luxury because just like any luxury it entails expensive fees. Timeshares come along with maintenance fees that increase over time even if you no longer use your timeshare unit. It also comes with special assessment fees you are obliged to pay as special circumstances arise.

Though luxurious, your timeshare unit will only be made available for you in a limited period of time. In fact, you’ll only have one week per year to indulge in its luxury and before you can even get there, scheduling can take a while. Many owners book 2 years in advance and yet to no avail, they still were not able to have their timeshare whenever they want it.

Furthermore, the deeded contract of your timeshare ownership entitles your children to inherit your timeshare. They’ll get to experience the luxury of timeshare ownership and at the same time the financial liability that comes along with it. Now, what if your children doesn’t want it? How bittersweet!

Now, isn’t this all unfair? You never thought that this little piece of paradise would actually bring you to financial purgatory for life. Now, think about it. It’s all up to you to decide.