Are you planning on getting a timeshare to make family vacations easier? Don’t rush into the decision!
Here’s what you should know before purchasing a timeshare.
Owning a timeshare by the beach may sound exciting, but are you certain this is the location you want to visit each year? A timeshare is a long-term investment. Whichever location you opt for should be based on long-term planning.
It’s best to visit a bunch of potential locations before deciding on one. Ideally, you should also spend some time vacationing at your preferred locations to determine if they’re the right fit for you. The more amenities and facilities it offers, the better.
You should also check out the nearby holiday attractions and assess how practical the location is for extended stays. Are there shops or eateries nearby? Can you access public transport easily? How far are the main local attractions? Is it family-friendly?
The location you choose can either allow for a luxurious vacation or make your timeshare holidays highly disappointing and inconvenient.
Time Commitment Affects Your Decision
Secondly, determine how often you’ll be using the property. Timeshares are only worth the investment if you intend on taking vacations once or twice a year. Is this a realistic traveling plan for you and your family? Will you be going on family vacations each year? If so, when do you plan on traveling?
Depending on the timeshare ownership you get, you may or may not have flexibility over your vacation home usage dates. Therefore, it’s imperative to know beforehand when and how often you can realistically travel. For instance, if your allotted time falls right in the middle of your children’s exam season, you might want to reconsider signing the deal.
Owning a Timeshare is Expensive
Let’s get one thing straight: owning a timeshare isn’t a piece of cake. You should only opt for it if you know you can bear all the expenses it includes.
Timeshare ownership comprises an initial purchase fee. Additionally, you’ll be required to pay annual fees and maintenance costs that may fluctuate each year. You’ll have to take care of these expenses even if you don’t take your annual vacation. Therefore, you must assess your financial health before opting for a timeshare.
If you’ve already purchased a timeshare and wish to terminate your contract, our team at The Law Offices of Mitchell Reed Sussman & Associates can help you. Our timeshare cancelation attorneys offer legal advice on the timeshare cancelation process, helping timeshare owners exit their contracts.
Reach out to the best timeshare exit attorneys for more details!