When you work hard, sometimes you need a little getaway. A timeshare may sound like exactly what you need. “It’ll be like taking several vacations throughout the year, only less expensive!” you may tell yourself. Before signing any contract, think about these questions:
- How often do you truly plan on using your timeshare? Before getting a timeshare, you may fully intend on using it several times a year. You are paying a monthly fee for the place, so you definitely want to get your money’s worth. What happens, though, if you get busier at work and you no longer have time for your timeshare? What if your children’s extracurricular activities keep you from using your timeshare more often? You pay for your timeshare even when you do not use it. You do not want to end up in a situation where you pay for it more than you actually get to use it!
- Do you have enough budgeted? To have a timeshare, you need to work its fees into your monthly budget. However, that monthly fee is not permanently etched in stone. Maintenance fees can rise unexpectedly, whether you like it or not. The timeshare may become more expensive than your budget will allow. Since you signed a contract back when you could afford a timeshare, you still have to pay the new fees despite your different financial situation.
- Are you genuinely prepared to share your property? When you decide to purchase a timeshare, you believe you will use it often enough throughout the year to justify the costs. Keep in mind, however, that availability is not guaranteed. Your timeshare may not be available the weekend you want to use it because another person on the timeshare is using it. The timeshare might then become available during a week or weekend that you cannot enjoy it. This might happen several times a year, too. Do you think you are ready to share a property with people who may keep you from actually spending much time at that very place?
As with anything, think carefully before purchasing a timeshare. While having a place to go to for when you need a little break sounds fantastic, forgetting about these potential issues can cause you and your family problems. Talk about your concerns with someone whose judgment you trust, and do not sign anything unless you are completely comfortable with your decision!