If someone asked this question 10 years ago my immediate response would have been “Hell No”. Lots of things have changed since then. what is different now? At first, You would buy into a particular property and even a particular unit, now you buy into a large group of accommodations. The chances that You stay in the exact same room or condo a second time are rare with some exceptions. So now You buy points and use them in many locations some even in other countries. The choices are fantastic so the product is much improved.
Should I take a Timeshare Tour?
When You see those ridiculously low priced theme park tickets advertised it is usually because they are offered through a timeshare company. Especially if You see them advertising Disney Tickets which are never drastically reduced so this is a company that is willing to lose money for You to take a timeshare tour of one of their properties. Common sense should tell You that this company thinks they have a pretty good chance of getting You to buy or else they would stop losing money on these tickets. Many People that have told me they bought a timeshare had no intention of doing so when they took the tour. These salespeople are really really good.
What if I want to cancel my Timeshare?
The new industry in the timeshare market is the timeshare exit industry. This new industry is almost a big as the timeshare market itself. Now there are equal problems with the timeshare companies as with the timeshare exit companies. Plenty of People have given money to the EXIT companies and gotten nothing in return.
Weighing the pros and cons of timeshare ownership
When You buy a timeshare property, You will pay a down payment and then get on a monthly payment schedule. the payments are small so this seems like a great deal but if You do the math, You will see that those small payments could pay for a great vacation of Your choice without being tied to a contract. Then You also pay yearly Maintenance fees. In my opinion, the cons outweigh the pros because for less money You can do the same thing and without being in a contract. If you take the same money that You will pay for a timeshare and put that money in a vacation account and contribute to the account the same as You would the timeshare account, You will end up with a nice chunk of money to do as You wish. Maybe You decide to add a Florida room to Your house and take a Staycation one year instead? If You are under contract, you do not have that option. The difficulty of exiting a timeshare contract is daunting, to say the least.