According to industry statistical data, it’s reckoned that 3,000,000 North Americans sit through a timeshare sales display each year. It is also estimated that 250K basically buy their own timeshare each calendar year. But is a timeshare truly a good deal for the average holidaying family?
In any discussion of timeshares, many people might be reminded of the South Park episode where the boys ‘ folks went to a timeshare weekend. The thoughts of others may wonder to the episode of Family Guy, where the neighborhood attended a timeshare sales display and Peter took the empty box instead of the valuable awards offered to him.
Let’s face it, the timeshare industry has been the target of many jokes over the years, and has had more than its fair share of bad PR over the years. However are the feedback fair?
When this industry was young, the criticisms were more than fair. In the early days of this industry, unfair corporations would sell timeshares on resorts that had yet to be built. After a successful sales season ( yes, this industry is seasonal, closing most sales from June to August ), the sales company would decamp with the money and customers would be out their investment.
In recent years, the resort industry has been forced to clean up its sales practices by both govt and buyers. But even today, some timeshare marketing firms are still getting into hot water.
In October of 2008, Pennsylvania’s Attorney General filed a lawsuit against a Florida timeshare promoting company for deceptive advertising practices. It has to be emphasised that this court action was not against the industry, nor its sales offering, but instead against individual promoting companies for fraudulent sales practices.
But Are Timeshares A Good investment For Most Vacationers?
Honestly, the solution to that question is that it is dependent on the goals of the buyer and the categorical details of the individual timeshare transaction.
“Purchasing timeshare may be the best thing a vacationer has ever done, but it could also be a big mistake,” said Lisa Ann Schreier, owner of ( timeshareinsights.com ). As a former timeshare salesman, she has great understanding of this industry. Schreier continued, “With the average cost of a timeshare in America being approximately $13,000, it’s vital that folk understand precisely what timeshare is and whether or not it’s right for them before they make a purchase decision.”
On the one hand, a timeshare is sexy in you can get access to a half-a-million greenback apartment ( $13,000 x 52 weeks ), for a standard buying price of $13,000. But the reasonable price is not a bargain purchase for each consumer.
What it reduces down to is this : if you can take the same week for holiday every year, and you need to go to the same destination year-after-year then a timeshare might be a great vacation investment package for you.
However if you cannot be certain that you will have the same week every year, or if you like the destination, but wouldn’t wish to be tied to a particular vacation destination, then you shouldn’t purchase a timeshare.
Of course, there are resorts that offer variations on the straight same week, same location offer ( some resorts have multiple locations ), but you’ll need to be sure that your timeshare plan makes that sort of offer, and get it in writing prior to signing the check.
Transfer Smart is the way to go if you already made the horrible decision to purchase a timeshare. Just give them a call and see how they can help you today.