What is the right time to get out of the timeshare deal?
If this question comes up in your head from time to time, you need to know that it’s not just you. Every year, several timeshare owners decide to make the final call and call it quits on their timeshare contracts. However, the reasons for which they make this decision range from ridiculous hidden costs to the never-ending rise of the annual maintenance fee. And in some cases, the problem is as simple as not using the timeshare property at all!
So what really constitutes the right time to get out of your timeshare deal?
Perpetual Debt:
Each contract of a timeshare owner is different. In some cases, the contract might not come with an end date – this means regular and annual payments of maintenance fees for not just you but for the generations ahead in your family. If you refuse to pass on this obligatory debt to your kids (and their kids), you might want to get out of your timeshare immediately.
Rising Maintenance Fee:
In several cases, timeshare salesmen might lure buyers in with an affordable and attractive maintenance fee but right after the sale is made is when the real nightmare begins. Not only would you be legally bound to pay for this maintenance fee every year, but it is also likely to rise with each passing year. Sometimes, you may even be a victim of the rise of inexplicable rise of these dues as they won’t even fall in line with inflation rates. If you find yourself being in a situation like this or if you’re already sure about having limited savings that won’t last long, it’s time to find an exit route.
No Vacation, Just Home:
Considering the past year, it can definitively be said that there might be times when a vacation home is of no use. While a pandemic might hopefully not arise again, there might be other unavoidable issues like hectic lifestyles or a financial crunch. In such situations, you would be paying for a property that is rarely put to use. Instead of further burning a hole in your pocket for something like that, talk to an expert like the ones at ETR and find yourself a way out of your timeshare.
