Posted by :GreciaPosted date : March 5, 2014In TimeshareComments Off on How the Timeshare Industry Is Blighted By Myths
It seems a strange comparison, but in a lot of regards the timeshare industry is like marmite. You’ve got some people who just can’t get enough of them and will constantly snap them up through their lifetime, while you’ve got others who wouldn’t touch them with a ten foot bargepole.
It doesn’t matter which group you fall in and for the purposes of this article, it makes no difference. We’re now going to take a look at some of the most common myths, both good and bad, that regularly impact this industry.
Myth #1 – You’ve Just Signed Up To a Lifetime of Free Holidays
The general consensus is that once you’ve parted with your cash, you’ve just signed up to some sort of promotion which means that you will never have to pay for a holiday again. Unfortunately, this sounds too good to be true and in fact, it is.
Most timeshare schemes will demand some sort of annual fee, but that’s not all. Unless you’re able to use some spare points from a specific type of timeshare, you’ll also have to shell out for plane tickets and all of your other holiday expenses. In short, it’s usually just the hotel that’s covered – even though this is generally the bulk of your vacation cost.
Myth #2 – You’ve Got To Boast A Richard Branson-Like Bank Balance
Initially, timeshares were quite black and white and were ultimately expensive. You’d have to be willing to invest a large portion of your savings, although now the situation has changed. Unsurprisingly, it’s still possible to spend a small fortune on some timeshares, but there are other types which can make the initial investment much lower. The right-to-use is the prime example and as this doesn’t provide you with any legal ownership in a property, it goes without saying that they are cheaper even if they are also a little more restrictive.
Myth #3 – You’re About To Make A Shrewd Investment
This is perhaps one of the biggest misconceptions and if you are in the market for a timeshare, don’t be under the impression that you are about to make a sterling investment that will eventually pay for itself. One of the biggest providers in the industry, travelandleisure.co.uk, claims that this should not be considered as a property investment. It will depreciate in value over time and instead of looking at it from this perspective, potential buyers should try and appreciate it as an “investment in leisure”.
Myth #4 – You’ve got to stick To the Same Resort Year In, Year Out
And finally, don’t be blinded by the myths which suggest that timeshares are utterly restrictive and will only permit you to visit the same resort for the next twenty years. Again, the industry has changed phenomenally over the years and under most deals, you will be permitted to use the timeshare organisation’s catalogue of resorts. Most have thousands dotted around the world and while certain types of timeshares may limit you to the exact same property, on the most part they are very flexible.
Again, it’s all about checking the small print though. As you’ve probably deciphered through this article, this is an industry which can be complicated to say the least and you will need to cipher over every minor detail with a fine toothcomb to ensure that you are getting exactly what you expect.
Grecia is the author of tournavationmke.com. She loves to travel around the world and share her experience and knowledge about the travel industry, features about travel trends. Prior to travel writing, Grecia covered Internet and Technology articles and contributing for many other web blogs.