Timeshare – to buy or pass by?
Timeshare property sounds attractive, after all the thought of relaxing in a luxury resort for seven nights every year seems like the perfect deal. Traditionally owning any kind of property usually would mean that your investment is going to bring you a return. Unfortunately, with timeshare property this is not typically the case.
If a luxury resort was a good investment, then doesn’t it seem inconsistent that you would get it at a cheap price. Timeshare presentations often are very high pressure events with a take no prisoner mentality by the salespeople. In other words, they expected at the end of their presentation you’re going to either pull your credit card or your check book.
Timeshare properties that go for low prices typically have very low resale value and yet
can still come with extremely expensive maintenance fees. Even if the resort seems like a location you would like to spend your holiday remember that it’s not a one-time deal. Every year that you use your resort it’s been a be at the very same spot on the planet. Some resort offerings may allow you to trade your week with another resort member but even still that can be a real nuisance and does not guarantee that you get your holidays to coincide with the same week that you have access to the resort.
Timeshare properties can have maintenance fees that range anywhere from $500 per year to over $2000 regardless of your using your timeshare property. When you do the math, it’s easy to see how a $20,000 resort property can cost you $40,000 or even $60,000 in just 20 years. So why you got a great price on the resort on the front and you’re going to pay through the nose after you’ve purchased.
So the best bet for you is to pass by. Book your flight and hotel, prepare for the trip. In case you travel to the country that requires travel visa, like Russia for example, do not forget to apply for Russian visa.
In recent years we have seen extreme weather patterns that have destroyed many resort properties. So if you decide to buy a resort property, it would be wise for you to make sure that you’re not can a foot the bill for rebuilding due to a severe storm.