The Disadvantages of Vacation Ownership

A multi-billion dollar industry, timesharing began in North America and Europe in the 1960s

, as a convenient answer for regular vacationers looking for a place to stay. Through its 60 years of existence, the industry has seen more than its fair share of legal and ethical issues, mostly concerning scams and questionable business practices.

Thanks to the large money involved, the timeshare trade was a constant avenue for fraud. In addition, even legitimate companies and salespeople resorted to aggressive, misleading and sometimes illegal tactics just to meet their quotas amid rising competition. Although the industry was able to weather these, other problems still make timesharing an uninviting investment.

Among the biggest headaches of timeshare owners are the annual maintenance fees. At the start, it may seem that these charges are less than hotel rates. However, keep in mind that unlike hotel rooms, these fees never go down and may actually rise each year. Further, there are cases where rates stated in a contract do not include all the necessary expenses needed to keep your property in mint condition. Thus, this becomes a major source of complaint to the Better Business Bureau and similar consumer awareness organizations.

Vacation Exchanging, although considered and promoted as a timeshare advantage, is also a huge industry disadvantage. Although, the program allows a timeshare owner to visit other properties of his mother resort company, it does not, however, guarantee access. Believe it or not, there are resorts which are almost impossible to get into even when it's supposed to be an "internal exchange." However, the program becomes extremely advantageous if an owner is a member of external exchange company that is connected to his desired resort.

One of the major hurdles to owning a timeshare is the ongoing commitment. Unlike a one-time purchase, the ever-rising annual fees can end up costing you more, even if you don't use your property. Also, most timeshare properties offered by developers are overpriced. Want to buy a property but don't have the cash? Check resale sites like EBay and Sell My Timeshare Now. These online marketplaces offer timeshare properties that cost a fraction of the cost of a newly developed one. Keep in mind that the only sensible time to purchase a timeshare unit from a developer is when the resort is first offered for sale.

Condo-hotels or travel membership clubs are great timeshare substitutes. The two programs have a different (although highly similar) system compared to timesharing and allows for more benefits, including access to a number of timeshare resorts. Some travel clubs even offer lifetime membership for a fraction of a cost of a timeshare unit and minus the maintenance fees. After paying the membership fee, the club member will still have to pay for each vacation, but the amount he'll have to release is comparatively much less.

Being an owner of a timeshare can have its benefits. But the deal has too many disadvantages to be considered favorable. Free your mind from thinking that the best way to vacation is by owning a timeshare property. There are other, better options out there.

The Disadvantages of Vacation Ownership

By: direct transfers

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