I recently returned from a refreshing beach vacation with my significant other. We visited the Gulf Coast, basking in the perfect weather, glowing sun, and our favorite tropical drinks at a local tiki bar from a nearby beach bar. As we enjoyed our time, our eyes were often drawn to the vibrant beach houses we spotted— their pink, green, and blue facades mounted on stilts as their wide-front steps kissed the shoreline.
We became engrossed in guessing what stories these houses held, discussing if any were rentals or lived-in homes. We soon found ourselves debating about timeshares – the frequently condemned, commonly disputed business model. The negativity surrounding timeshares is well-known, but the reasons aren’t always clear.
HERE’S HOW TIMESHARES OPERATE
Historically, purchasing a timeshare meant buying a designated week at a specific location. Now, many companies offer a system based on credits or points for use across different locations. Some even allow for credit rollover on the due date, allowing you to tailor where and when you stay, as well as the type of accommodations needed.
Although this may sound appealing, I must admit it sets off my scam alarms. If we juxtapose timeshare with a traditional real estate purchase, the inconsistencies glare. Buying conventional real estate means full ownership of a land piece, not just a fragmentary time in a shared space—it defies the very principles of land ownership.
THE TIMESHARE TRICKERY
While investigating for this piece, I encountered numerous online discussions with timeshare owners vexed and frustrated for succumbing to the persuasive vacation promises and eloquent salespeople. These individuals are now struggling, largely unsuccessfully, to divest from these regretted purchases. If a recent Technorati article serves as any indication, it seems a new scam has swooped in, capitalizing on the desperate bid of these timeshare owners to free themselves from the original scam.
Undeniably, I’m painting a rather bleak picture here. Nevertheless, the objective data narrates the troublesome realities of timeshare ownership.
Buyer’s caution: if you’re considering a timeshare purchase, I’d strongly advise thinking twice.
If you’ve experienced the timeshare trap or host a different perspective, I’m more than open to hearing it!
