During the past year’s economic climate, most Americans are looking to cut back spending wherever possible in an effort to pay off debt and save some money to withstand the unfavorable condition. Among the consumers, timeshare owners were considered as one of the severely hit by the said crisis. While many owners get out of their timeshare contracts, some research and interviews with them reveals their true perception when it comes to timesharing.
One of the most common complaints of timeshare owners are the exorbitant costs associated with timeshares that usually climb higher and higher each year. Meanwhile, for those who financed timeshares, they quickly learned that they have even less options due to the financial liability associated with the mortgages.
On the other hand, prior to buying a timeshare, owners were being told that timeshares will be easy to sell. But the Attorney General of Florida, Bill McCollum, among others gives particular warnings about such companies that may claim to have buyers for your timeshare. Due to the depressed resale market, it is unlikely that there is actually a buyer and there are already many cases of owners being deceived by resorts and resale companies. With these, many consumers seem to feel that there is nowhere to turn to once they decided to get rid of their timeshares.
While we had experienced one of the worst economic conditions for the past two years, it also showed a number of disadvantages of timeshare ownership. The recent years also has the number of most owners trying to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. As this article reveals the experiences of many timeshare owners, this may also serve as a warning for potential owners about the possible issues of timesharing.