Are You the Not-so-proud Owner of an Unwanted Timeshare? Nothing is more burdensome than an unwanted timeshare. That is, except perhaps an unwanted gift from your motherin-law that you have to display every time she comes over. (But honestly, it’s probably even worse than that.) In all seriousness, you’re no doubt very frustrated. You spent tens of thousands of hard-earned dollars on a timeshare. Then you discovered a hard truth. You just never seem to have the time and opportunity to go. Even worse, you’re probably paying thousands in maintenance fees and dues every year. Moreover, timeshare sales people often use highpressure sales tactics. If you don’t discover the downsides soon enough, though, you’re stuck. And you’re not the only one.
You’re Not Alone in Time Share Regret While timeshares at first seem like a brilliant idea – vacation homes you don’t have to take care of! – the luster quickly tarnishes. Consumers quickly discover the difficulties and hidden fees in this business model. In many cases, however, it’s too late to back out by the time those realizations hit.
Dr. Amy Gregory, University of Central Florida assistant professor, published a study on the downsides of timeshares. Redweek reports her findings:
85 percent of all timeshare buyers regret their purchase. Only 15 percent can get out from under it. 41 percent of buyers were sure they wouldn’t regret their purchase, while 30 percent were neutral. Yet, all came to rue the decision eventually. 95 percent of buyers turn out to have further questions after they make their purchase. They contact the resort or sales staff after the fact, often when it’s too late
Why are we telling you this, though? Doubtless, you already know all about the un-shiny downsides of timeshare ownership.