I don’t believe that it is possible to post too much about the dangers inherent in having anything to do with timeshares. My recommendation to anyone considering buying a timeshare is to not walk away, but run. Very few of the people with whom I have discussed timeshares have had a positive experience. Even fewer have actually had a positive return on their investment. Most experiences have been negative both on a personal level as well as a financial level.
Frankly I don’t understand why people choose to purchase a timeshare aka fractional ownership. The contracts are one-sided in favor of the seller. They are expensive relative to the value. The ongoing costs are never well understood and always increase. Getting out of the contract is expensive, difficult, impossible – choose your adjective. Booking time is more difficult. There is ZERO accountability between the salespeople and the booking reality.
The salespeople will tell you anything and I mean anything during the sales meeting. Yes they can consolidate your other timeshares, yes they can get you out of your other timeshares, yes you don’t have to pay maintenance fees, yes you can make great money renting your unit.. yes.. yes ..yes… Then when you actually read the contract that you are to sign it says nothing about anything except that you are paying for 1 week in a studio apartment in the XYZ Resort (or get 3,000 points to be used at the A Series of Resorts). All the other promises made by the salesperson were nothing but hot air.
If you are considering a timeshare please GOOGLE for complaints against it. It is very simple… go to Google… type in the name of the resort, add the word complaints, and see what comes up. Odds are good what you’ll read will scare you off. Then, if you do sit in a meeting NEVER sign any contract without sleeping on the decision. Any deal that is only good if you sign right then and there is NOT a good deal. If it is a good deal today it should be a good deal tomorrow.
My recommendation would be to never purchase a timeshare. There are plenty of people out there who have timeshares that they can’t use who are willing to let you use their time for a fee. Lot’s of these people have to pay $2-5,000 per year in maintenance fees for weeks/points that they can’t use for whatever reason. If you offer them $100 per night for a weeks worth of points at a resort odds are good that they’ll take it as otherwise they’d just lose the points and be out the maintenance fee.