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Debunking the Most Common Timeshare Ownership Myths That Exist Today

Hussain Ali

Timeshares seem to be at the end of jokes on television shows, warning against the negative experiences many people have had with them. From this stigma, many people have turned away from timeshare ownership. 

However, the industry has advanced since the early 2000s. If you’re curious about owning a timeshare property but are worried about the misconceptions surrounding it, keep reading to have these myths debunked. 

Myth: Your Vacation Is at the Same Place Every Year

While an old timeshare lease might limit you to one vacation spot, there are different opportunities available from timeshare companies nowadays. 

Certain resorts now extend their services by working with exchange partners, so you have virtually unlimited options of places to vacation. 

In addition, many think that you have to vacation at the same time each year. Fixed-week intervals used to be popular, but that has become outdated. Certain resorts allow you to work with a rewards or point system, where the more points accumulated, the more you can use these toward changing a vacation time. 

This all depends on the availability of the resort, of course.

Myth: You Can’t Get Out of a Timeshare Ownership

One myth that reasonably deters people from timeshare ownership is that they think they’re unable to get out of a timeshare lease. When you’re a timeshare owner, there may be many reasons why you’d want to get out of ownership. 

Some companies place many hidden fees and contractual obligations into a lease. You may not be using your vacation time enough to fully get the benefits from owning a timeshare. 

Whatever the case may be, it’s possible to terminate ownership. You could call the resort directly and if they are not helpful, hire a company that specializes in this industry. This link provides useful information on how to get out of a timeshare as easily as possible.

Myth: Timeshares Are More Expensive Than Other Ways of Traveling

Because you’re part-owner of the timeshare property, you owe different fees, maintenance costs, and other expenses on the property. But, if you own a timeshare for ideally a long time, it can end up being equally less than planning and booking vacations traditionally would be. 

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Since timeshares have a kitchen and other amenities that hotels don’t have, you save money in other areas where you’d be spending it during a traditional vacation. The initial investment is worth it once the timeshare is paid off. and you only owe certain maintenance fees afterward. 

Myth: Timeshares Are Right for Anyone

Timeshares are marketed to anyone and everyone. But, they’re not practical for every person or family. Elderly people wouldn’t get great use out of them, as they may not be able to easily travel in the near future. Couples with children on the way may also not want to invest as they have unforeseen costs for their children to worry about. 

Evaluate what you’d like from your future before investing in timeshare ownership. 

Should You Get a Timeshare Ownership?

Timeshare ownership needs time and consideration before acting on purchasing one. Many of the misconceptions surrounding timeshares are valid. Be cautious in making your decision, but don’t let all of the negative slanders keep you from purchasing one if it feels like the right move for you.

For more financial tips, visit our ‘Business’ blog page. 


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