Are Timeshares Worth It? Why NOT to Waste Your Money on a Timeshare

Have you wondered what a timeshare is, and if it could be a good investment? Are timeshares worth it?

You're on vacation in Hawaii, and a pretty lady offers you free pina coladas in exchange for a brief presentation on a timeshare. You think to yourself, “Why not? Free drinks! I'm not gonna buy anything.”

Two hours and 4 pina coladas later, you find yourself with a pen in your hand, about to sign on the dotted line for a timeshare. It seems like a great deal! Are timeshares worth it? No. And here's why.

A timeshare is NOT an investment!

Despite popular belief, a timeshare is not a financial investment. Buying a timeshare is like buying a new car. The second it's purchased from a resort developer, it decreases in value by 50 – 90%. Let's look at exactly what a timeshare is.

There are many different types of timeshares, but in general they are a type of vacation ownership in which you own a piece of a unit within a resort.

What is a timeshare?

What does a timeshare cost?

Timeshare owners are required to pay yearly fees that average around $1,000 per year. Some owners are paying $2,000 or more in maintenance fees. Even worse, the maintenance fees aren't fixed!

Some resorts allow timeshare owners to give the timeshare back to them, but others do not. This is actually a recent development.

Can you get out of a timeshare?

So why do so many people buy timeshares?

With all of this negativity, why would anyone in their right mind buy a timeshare? Well, for the most part, many people are pressured in to it. High pressure sales tactics are ripe in the timeshare industry.

Swipe Up

for more finance, business, and real estate advice

Read More

5 Ways People Waste Money on Their Cars

Timeshare Rentals: Score Epic Travel Deals on 16 Websites You Probably Haven’t Heard Of