What's Your Story?
What’s your story? A lot of our clients are getting out of their timeshares because they have started using travel clubs and websites to book hotel rooms and homes. They are able to book online without the pressure of a salesman, for competitively cheaper pricing. According to ARDA, the average timeshare maintenance fee in the united states is $980 per year. If a timeshare owner purchases their timeshare for $10,000, between exchange fees and maintenance fees they will spend nearly $20,000 whether they do or do not use their timeshare. If you have found yourself in a similar situation, feel free to reach out to Timeshare Cures for a free consultation.
Many timeshare owners start out loving their timeshare, but after time and with increasing maintenance and special assessment fees, their timeshare purchase begins to show a diminishing return and many even go unused and just sit there to rack up annual maintenance fees and cost you more money without the fun of a vacation.
Some timeshare owners regret the purchase almost immediately and some use it for years with their children, friends, and family. But what happens when the fun ends? Children grow up and vacation on their own with their families, couples retire and can no longer afford a vacation, let alone their timeshare.
Many timeshare owners think they can simply sell a timeshare on the open market because that’s what they were told when they bought their timeshare. Times have changed and the market for timeshares has diminished. Timeshares are almost never re-sold for a profit and typically you can’t even give them away. The ongoing maintenance fees is what keeps most timeshares from being marketable. We understand that a timeshare can turn into a black hole that you just keep pouring money into and we want to help you keep that money in your pocket instead of continuing to spend more and more of your hard earned dollars on a timeshare you are not utilizing.
At Timeshare Cures, we boast a 100% satisfaction guarantee while getting you out of your timeshare, no matter your timeshare situation. If we can’t get you out of your timeshare, we won’t offer our services to you. We come from the timeshare sales industry and understand all the ins and outs of how the system can work for you and against you. We’ll show you how to make the system work for you or get you out of your unwanted timeshare.
Q. Are Timeshares Really Worth It?
A. Timeshares Aren't Very Liquid. It's usually only after you've purchased a timeshare that you realize there are more people looking to sell them than buy them. The likelihood of recovering your initial investment is very low — to say nothing of recovering many years' worth of maintenance fees. A timeshare is not an investment, it's a vacation. It's also an illiquid asset that is likely to lose value over time. Ultimately, timeshares are like swimming pools, if you buy one, do so because you love the idea of owning it, not because you expect to make a profit.
Q. Why are time shares bad ideas?
A. Timeshares are NOT a sound investment. They tend to depreciate over time rather than increase in value. Also, the supply of new timeshares is typically greater than the demand and they come with significant fees.
Q. What happens if you don't pay maintenance fees on your timeshare?
A. Failure to pay these fees results in collection efforts by the management company. When you purchased your timeshare, your contract outlined the amount of the maintenance fees and their due date. You may incur interest, collection efforts and even foreclosure if you do not pay on time.
Q. What is the timeshare industry?
A. A timeshare is a type of vacation ownership in which multiple individuals share rights to use the property, each with his or her own allotted time frame (in its most common form, this is a fixed week each year).
Q. What is the difference between a vacation club and a timeshare?
A. The typical timeshare is a one week deeded interest in a condominium-style resort real estate development. A Vacation Club is a group of people sharing the right to access a group of vacation properties, which could be hotel properties or vacation homes.
Q. What is the average timeshare maintenance fee?
A. The average annual maintenance fee is $980, according to ARDA. (2018)
Q. Can you stop paying timeshare maintenance fees?
A. The only way to get rid of your timeshare maintenance fees and the other special assessment fees is to get rid of your timeshare altogether. As long as you own the property, there is really no way to end the yearly onslaught on your bank account.
Q. Are Timeshares forever?
A. Timeshares Are Forever Or, at least, for a really long time. When you purchase a timeshare, know that you're generally buying “deeded real estate.” It's similar to buying a house, except you don't actually own a freestanding home.
Q. Can you refuse to inherit a timeshare?
A. In general, if you refuse a timeshare, it will go to the next person in line to inherit. If that person doesn't want it, they too must file their own Disclaimer of Interest. A word of warning: You can't legally disclaim a timeshare that you've used to benefit yourself after an inheritance.
Q. What does Dave Ramsey say about timeshare?
A. Dave says, “Timeshares are basically getting you to prepay your hotel bill for 20 years. Just put that money in an investment and it could pay your hotel bill!” Rather than spending all of your hard-earned cash on a terrible “investment” like a timeshare, one option is to start a sinking fund for your vacation.