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What Is Better Than A Timeshare?

Timeshare weeks were supposed to be the future of vacations. A timeshare is a fractional vacation property, meaning you only pay for the time spent there rather than paying year-round for real property by yourself. It seemed like a quality concept that could deliver on a lifetime of vacations, but so much for that!

In recent years, timeshares have faced stints of criticism. Many timeshare companies seem incapable of pleasing their consumers, whether complaints of extreme price increases or accusations of shady sales practices. As the reputation for timeshares continues to deteriorate, now would be a great time to look at a potential vacation alternative. 

Here in this article, we'll walk you through several alternatives to timeshares. But first, let's discuss why it's essential to avoid buying a timeshare property.

There Are Several Reasons To Avoid Timeshares

Oh, where to begin with the truth about timeshares. There are countless horror stories from past owners that would warn you against buying a timeshare property. Instead, we'll focus on a few of the most prevalent issues for many property owners. Here are three reasons to avoid timeshares: 

The Timeshare Industry Is Known For Deceptive Antics

You never hear of someone seeking out a timeshare company on their own. Instead, it tends to only happen on chance encounters with resort salespeople. However, those are often not by chance either. Timeshare companies are known to offer any number of gifts to encourage more people to listen to their sales pitches.

They do so because they know if you join their timeshare presentation, there's a good chance they can convince you to become a deeded timeshare owner. These salespeople have a reputation for using misleading information and deceiving sales tactics to boost their sales numbers. They are willing to put tens of thousands of people in debt to benefit themselves.

Timeshares Are Rarely A Good Real Estate Investment

Timeshares market themselves as an affordable option for vacation packages. However, this sales pitch is misleading. Timeshares rarely have an inexpensive vacation budget. In fact, they're wildly expensive.

From an outrageous upfront cost that often requires a mortgage to the ever-increasing annual maintenance fees, it's as if there is always another bill from the resort in your mail. These ongoing expenses make it nearly impossible to see a profit return for your timeshare purchase as you never seem to stop paying.

Timeshares Are Typically Lifetime Commitments With No Easy Exit

Traditional timeshare agreements do not expire. Salespeople may twist that around to sound like a perk, but being financially responsible for a timeshare for the rest of your life is not worth celebrating. Especially considering there are hardly ever any opportunities to exit the agreement.

Not only that but timeshare properties often get passed down to the owner's heirs. Again, that can be considered a perk by the timeshare sales rep, but the truth is, relatives rarely want anything to do with it. Many owners regret their purchase once they realize what kind of lifetime commitment a timeshare is.

CHECK OUT THESE TIMESHARE ALTERNATIVES

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First off, there are plenty of other choices instead of buying a timeshare and much better ways to spend your vacation time. We have compiled a short but wide-ranging list of some of those alternative timeshare options here for you. Check them out below and see which one will best fit your needs.

Rent From Timeshare Resorts Instead

Believe it or not, you can rent out a timeshare unit at your favorite resort without becoming an owner. Why deal with the stress of timeshare maintenance fees and lifetime commitments when you can just rent for a one-time experience. The only downside is the local beach resort staff members will likely pressure you to buy a timeshare nonstop.

Join A Travel or Vacation Club

Although a niche market, a travel club offers similar opportunities to timeshares without burdensome expenses. While these private residence clubs require you to buy a membership, the yearly maintenance fee is minuscule compared to that of a timeshare. Travel clubs are a great way to meet new people. These clubs help you connect to people of similar interests or the same age.

Become A Vacation Home Owner

If you want the whole vacation homeownership experience, don't shoot yourself short and settle for a type of fractional ownership. Vacation homes deliver on all the timeshare pros and even come with actual property ownership benefits. Your property value will likely increase over time, and you can probably profit off this investment later down the line.

Save Money & Stick With Booking Hotels

Hotels get a bad wrap at times, but more often than not, they prove to be more beneficial for avid travelers than timeshares do. The average price for a week-long stay at a hotel is much cheaper than what you would pay in your annual timeshare maintenance fee and costs with a timeshare exchange company. You're also not restricted to the exact location of a particular resort, as you can find a hotel everywhere. AAA members, senior citizens, teachers, and military service members regularly receive hotel discounts.

Try New Vacation Rental Services

A new option has recently taken the travel industry by storm. Rental services are prevalent online marketplaces for individually owned vacation homes. These rentals offer immense flexibility for travelers regarding their length of stay, accommodations, and pricing. Consider a rental service if you want the benefits of timeshares minus the stress and extra expenses.

HERE’S HOW TIMESHARE OWNERS CAN GET OUT OF THEIR AGREEMENTS & EXPLORE THESE BETTER ALTERNATIVES

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Current timeshare owners may feel they cannot enjoy alternative vacation options because they already have a timeshare agreement. While it is not necessarily easy to break free from a timeshare purchase, it's possible.

First, make sure you are not still in the rescission period, the short time directly following your purchase where you can easily return it and get a refund. If you miss that chance, you may have to consider trying one of these:

  • Negotiate with the timeshare developers to give it back: If you have paid off the timeshare purchase price or mortgage in full, the resort may be willing to accept the property back and repackage it for another buyer. It is rare for timeshare companies to agree to this, but it's worth a shot.
  • List for sale in the timeshare resale market: If the timeshare company refuses to accept it back, they recommend you resell. Unfortunately, that is much easier said than done. Timeshare resales never recoup what you spent and can leave you susceptible to scams.
  • Hire a timeshare exit company to cancel your agreement: Due to the increase in unhappy timeshare owners looking for a way out of their agreements, the timeshare cancellation industry was born. Hiring a legitimate exit team can help you get out of your timeshare agreement.

Wesley Financial Group, LLC* is a perfect example of a timeshare cancellation company. Their exit experts specialize in helping those wrongfully misled into a timeshare purchase. Consider their success rate: they’ve canceled over 16,000 timeshare agreements and saved more than $250,000,000 in timeshare mortgage debt since 2011.

Are you interested in learning more about timeshare cancellation? Claim a free info kit here or schedule a free consultation here.

Summary

There are many vacation choices better than timeshares. While the traditional timeshares continue to disappoint, other traveling alternatives, both old and new, leave travelers with better vacation experiences. Don't settle for a timeshare until you weigh the alternatives. Lastly, timeshare buyers looking for a way out can contact WFG specialists to learn more about what exit options are available.

Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes and not intended to substitute for professional advice, legal or otherwise.

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