Freedom from Burdensome Timeshares
The age of the average owner of a timeshare is about 51 years. However, young travelers should understand the workings of the timeshare industry before pursuing it.
This is imperative because there are a number of timeshare scams prevailing in the industry. Millennials go on vacations frequently, and typically they are ones who fall prey to these misleading timeshare schemes.
While these scams appear quite attractive, people who are unaware of this industry can easily get trapped in these alluring schemes.
People usually fall prey to these schemes after attending the free presentation. The presentation is usually conducted by a salesperson who continues to stress the (seemingly) flexibility and affordability of these timeshare packages.
Whereas some of these presentations are genuine, sometimes they turn out to be hollow. Therefore, it is vitally important to be aware of common practices followed in the timeshare industry and some red flags to watch out for.
The excitement associated with travelling the world is strong, but this is not always the case in reality. Some timeshare owners take advantage of such opportunities but even then, securing the location you want can be difficult. The more well-known the locations, for example, the harder it will be to reserve.
It’s easy to get a free beverage and a gift by just attending a free presentation. But when you own a timeshare without knowing the industry practices, this commitment may have serious financial ramifications in the long run.
Along with your mortgage, you will also be liable for paying the unforeseen special assessment fees and your rising maintenance fee. Chances are that you may get trapped in paying these for as long as you have your timeshare property.
What at one point may have seemed like an exotic getaway can become less than exhilarating after awhile, and by this point, the fee is now a financial burden. Since timeshares usually deplete in value over time, if you plan to rent it out, this might not be feasible as well. Eventually, you end up with a situation in which you don’t even use your timeshare but pay for it annually.
Some Other Considerations
Here are some of the things to be aware of;
- It is no harm to attend the presentation but it is may be better to avoid the endeavor altogether. After all, you are probably already on a vacation and you might not want to waste your time
- If you do opt for a timeshare, always ensure you obtain the proper documentation. Get all the offers in writing and make an informed decision on the basis of these documented offers.
Don’t just jump into these schemes after attending these pre-planned alluring presentations. In fact, always pay close attention and make an informed decision.
If you were tricked into a timeshare you don’t want or need, Timeshare Freedom Group has helped countless clients regain their freedom from such burdens. Call us today at (866) 668-6872 to discuss your situation!