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How To Stay Safe On Vacation

  • September 20, 2021

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beautiful vacation home with pool at night - How To Stay Safe On Vacation

You love your vacations. So, of course you want to stay safe on vacation.

You enjoy flying away to somewhere hot when it’s winter in your home country.

In fact, you might even be considering buying a share of your favorite holiday home. It makes sense to own a small part of it to save you money further down the line.

One way to purchase your portion of the holiday home is to get a timeshare.

What is a Timeshare?

A timeshare is basically a holiday home or vacation home that gets split into several shares that are bought by multiple different people. Each buyer will own the right to live in the home at a specific time of year. Sounds great, right?

On paper, a timeshare sounds ideal. You avoid paying for your dream holiday home all year round even though you only use it for a few weeks in the whole year. However, there’s a reason that many people end up searching for top timeshare exit companies shortly after signing up for one.

Are Timeshares Worth it?

The details of each timeshare vary, but in a nutshell, they’re pretty much never worth it. Unless you’re happy with the limiting terms of owning a timeshare, you will probably regret ever entering one, and here’s why.

Timeshares are not investments. You are paying your hard-earned cash to buy part of a vacation home simply to enjoy it for one or two weeks. Aside from the upfront fee that you need to pay for the timeshare, you will likely have to pay maintenance fees to the landlord each year.

When you hand over your payment, you don’t actually become a part-owner of the property. You are simply gaining the right to live there for a specified time period. And even if you stay at home for one year, you are still required to pay for your share.

It’s important to note that timeshares are not sellable. Once you’ve signed that contract, it’s yours until the contract ends. You can’t unload your share onto someone else because timeshares don’t work like real estate.

Rising Time Share Fees

There’s also the issue of the rising annual fees that come with timeshares, making them even harder to shift. Fees are not fixed, and they are subject to rise year by year. You may think that, in order to get around this issue, you can just rent out the home during your timeshare period. However, this is not easy and many timeshare companies don't allow it at all.

Do Your Homework When It Comes To Timeshares

If you are considering getting a timeshare, it’s vital that you do your research beforehand. You are, essentially, signing an unbreakable contract that commits you to make annual payments that can rise or fall depending on the landlord’s conditions of the timeshare.

You must consider whether or not you will use the vacation home every single year and if the money you’d spend buying the timeshare is actually any cheaper than booking a separate holiday each year.

Conclusion: Stay Safe On Vacation By Avoiding Timeshares

Once you weigh up the pros and cons, most people would agree that vacation home timeshares are just not worth it.

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