There are many stories and rumors surrounding the timeshare industry. Many are due to a lack of information or false information. To help get these timeshare myths debunked, we have compiled some of the most common misconceptions about timeshares. We’ll also explain why they exist and separated fact from fiction.
Presentations Are A Scam
Presentations Are A ScamWhile there are scams that have circulated around the timeshare industry, timeshare clubs hosting presentations are not one of them. Presentations are how timeshare clubs, such as Marriott or Hilton, sell their available ownerships.
Purchasing a resale timeshare might be in your best financial interest, however a retail timeshare is not a scam. The inflated prices are due to the gifts and free or discounted trips that are used to attract potential buyers to a presentation.
You Are Stuck Traveling To One Location
This can be true if you want it to be. If you have a specific home week and season, you have priority to that specific property. This lets you travel there year after year very easily. If you are so inclined, the option of visiting other properties or even other timeshare clubs is available.
Many clubs offer the option of trading into another property within their collection but if you are looking for a more varied selection, the use of an exchange company is a fabulous option. RCI, II and SFX are three of the main exchange companies available to timeshare owners for trading and exchanges.
Timeshares Are Difficult To Resell
If you are looking to sell on your own, you will probably find that it will take you a while to find a buyer. This can be challenging, frustrating as well as time consuming. Selling on your own can also leave you exposed to scams or dishonest buyers. Using an honest and trusted timeshare broker is the safest and most reliable way to sell your timeshare.
A timeshare broker can help facilitate a private sell by acting as a third party to ensure both parties receive their end of the contact. A broker can also handle the entire sale from finding a buyer to closing the deal. Timeshare brokers have an extensive marketing and advertising base, so as long as the ownership is priced right, it should sell quickly.
Ownerships Are A Bad Investment
This myth can be true. If you are looking to buy a retail timeshare and then flip it on the resale market for a profit, you are going to be sorely disappointed. Retail timeshares lose value as soon as you purchase them from the presentations. Buying a resale and trying to make a profit is probably going to be a waste of time. Properties fluctuate in price and eventually can turn a profit but the profits are typically small when accounting the costs it takes to sell the ownership.
If investing in your family and personal vacation time is what you are looking for, then a timeshare bought on the resale market can be a logical choice. Being able to know exactly when and where you are traveling year after year can make saving and preparation much more simple and easy. Timeshare villas typically have fully stocked kitchens so your family can enjoy home cooked meals, even when you are traveling. These are just a few benefits of owning a timeshare.
Gifts To Attend Presentations Are A Great Deal
This is a personal decision. A free trip or lavish gift can sound amazing and there is potential for it to be a great deal but the drawbacks may not be worth it. A free trip to Hawaii for the weekend may sound like it’s too good to be true and very well could be. When you accept these gifts, you are agreeing to attend their presentation where you will be given a lengthy sales pitch about that property. Spending one to four hours in a sales presentation does not sound like an ideal vacation and all depends on what is important to you.
A free trip to see a timeshare presentation sounds great but when you are getting called constantly throughout your trip and sales reps knocking on your door to get you to take a tour or see another presentation can ruin your stay. There are those who are willing to endure those negatives and there are those who feel it is not worth it.
If you would like any further information about one or more of these topics, feel free to contact us for a free consultation.
