Many people will try and put you off buying a timeshare, and usually they are also the same kind of people who would never go to a timeshare presentation or actually do any kind of research into the benefits of owning a timeshare.
Below are just some of the myths that people will try and sell you to put you off buying your dream second home.
One of the commonly quoted disadvantages of timeshare is that you have to go to the same place every year during the same week. For some, this is a reason not to invest, while for many that is precisely what they want. Guaranteeing accommodation that you can call your own during peak times (holidays, summer vacations etc) can be a great advantage. However, what most people overlook is the fact that modern timeshares schemes are actually much more flexible allowing you to be able to exchange both location and dates, according to your membership privileges.
2: A Waste of Money
A frequent excuse for not buying a timeshare is that it is not a good investment. Those people just see the initial cost of the timeshare as too expensive rather than considering the figures and how you will eventually save yourself money on vacation accommodations. You also have to think about value for money and the fact that you get a much more luxurious property than you would be able to afford in other circumstances.
3: A Financial Risk
One step ahead of being a waste of money is the myth that buying a timeshare is risky. The key here is the bad press provoked by timeshare scams that deliberately aim to rip off innocent people. If, however, you buy from a reputable company, the risk that you will lose your property to some scam is very limited. With a little research you can easily tell the genuine timeshare companies from the fraudulent scammers.
4: Undisclosed Fees
When you buy with a reputable company, all fees should be clearly stipulated in the contract and also vocalized during your sales interview. Many countries, like Mexico for example have clear regulations about this. You should be made aware of maintenance fees, which are a standard fee for any timeshare. If a seller tells you there are no maintenance fees, then you are probably involved in a timeshare scam and you would be best to verify this in writing.
5: Timeshares are for Old People and Divorcees
A common myth is that there is a particular timeshare type. The reality is that timeshare can suit all kinds of people and is actually especially popular amongst people who have limited vacation time or who are tied to the school vacations. When you buy a timeshare, you are in fact investing in a lifetime of memories, so the earlier you begin taking advantage, the longer you will enjoy regular vacations in your own property.