Timeshare: A Crucial Look

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.

Though you probably won't realize it at the time of the purchase, timeshare maintenance fees are a big disadvantage. They may considerably be less expensive than actual hotel stays, but these prices never go down. These fees are essential to keep the property in mint condition but somehow don't cover all the necessary services your unit needs. In other words, watch out for those extra charges and special assessment fees.

Week exchanging, although touted as a timeshare advantage, can also be a huge headache for owners. Although, the program allows a timeshare owner to visit other properties of the resort company, it does not, however, guarantee access to them, especially during the peak season. Believe it or not, there are resorts which are almost impossible to get into even when it's supposed to be an "internal exchange." It only becomes worthwhile if the owner is a member of an external exchange company, which is yet another membership and expense.

Limiting the number of people that can avail of "industry benefits," price is a major setback of owning a timeshare. Most timeshare properties developers offer 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 substitutes for timeshare. These two programs have a different, though highly similar, system compared to timesharing: they provide more benefits, including access to a number of timeshare resorts. The lifetime membership in some travel clubs are just the fraction of a cost of a timeshare unit, and do not require maintenance fees. After paying the membership fee, the club member will still have to pay for each vacation, but the amount will be comparatively much less than a timeshare membership and its many dues.

Owning is timeshare can be beneficial in more ways than one. But owning a property under a very tricky system has too many disadvantages. Keep your mind open. It's not that hard to realize that there are better alternatives such as membership clubs.

Timeshare: A Crucial Look

By: direct transfers

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