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Archive for the ‘Timeshares’ Category

Thinking of “buying” a timeshare property?  One trip to a web-based search engine should be enough to dissuade you – forums full of people who regret their purchase of a time share and website after website offering to help people unload their bad investments.  Personally, I would never involve myself in any high-pressure sales pitch situation.  A typical transaction goes something like this:  you are invited to a “conference” or a “seminar” on time shares.  No obligation, mind you.  In fact you are probably offered an attractive gift for your time – event tickets, travel vouchers, maybe a kitchen appliance.  Once you arrive at the so-called seminar, your are subjected to an intense sales pitch.  Most timeshare salespeople dress sharply and talk quickly.  They try to put their audience “in the ether”, so to speak. They build excitement with stories of owning your own piece of a luxury resort, but do they mention the costs (to you) of maintaining your slice of paradise?  Probably not.  Do they mention that, should your abode burn to the ground, you may be responsible for a portion of the cost of rebuilding it?  No.  Do they bother to inform you that after your initial investment of thousands of dollars you will pay annual dues to pay for maintenance, property taxes, and the like?  You’ll find that in the fine print after you’ve handed over your kid’s college fund.

The truth is that buying into a timeshare is like buying a used car and paying on it… for life!  As the value of the timeshare unit drops (and it will), your yearly investment does not.  In fact, your dues will probably rise over time.  Do your research and you will see that I am not alone in my belief that throwing your hard-earned money at a timeshare is a bad investment.  Don’t let the timeshare salesperson’s next Armani suit be paid for by your impulse purchase.