Timeshare Owners Bear Cost of Others Misfortune

We all know that the economy is bad. Some people are having trouble paying the expenses of their primary home and putting food on the table. Vacation ownership is at the bottom of their list of priorities. People are abandoning their timeshares. They don’t have the money to pay on the ever-increasing maintenance fees and mortgage costs. This is causing a trickle down expense for other timeshare owners.

A deeded timeshare owner is responsible for covering the additional debt caused by other timeshare owners walking away from their responsibilities.

A deeded ownership in a timeshare means that you and all the other owners share the maintenance costs of the facility. When one owner walks away the cost goes up a little bit for each other owner. When several deeded owners choose to abandon their responsibilities, then the cost is exponentially higher for all the other owners. As the cost continues to rise, more owners will not be able to pay their bills.

This looks like a vicious circle that will only continue to get worse as the market struggles to fight off the depths of the current recession. So here is yet another reason not to buy a timeshare. -- M. Beddingfield

Timeshares and the Bad Economy

The bad economy will have an affect on any timeshares that you own, and that affect will not be good. Even if you have been responsible and have always paid your timeshare fees and timeshare loans on time, you are going to end up paying more because of those people who don't:

1. Your fees will increase. When people stop paying their timeshare fees and their timeshare ends up getting foreclosed on, the timeshare resort loses money. They have to make up that lost money somewhere and it is usually in the form of higher fees for all the other timeshare owners.

2. You will Likely see timeshare surcharge fees: With less of a base to support the timeshare and a credit crunch that is making it hard to finance the timeshare projects the timeshare resorts already have going, you will likely see special surcharges added to your yearly bills to help defray these timeshare resort costs.

3. Your timeshare is worth less: It wasn't worth a whole lot before, but it is worth even less now. Very few people want to buy (or can afford) a timeshare in a bad economy and that means prices of timeshares are falling like a rock to the ocean floor.

These are some of the reasons that the faltering economy will mean your timeshare costs you even more money...

Five Reasons Not To Buy A Timeshare

A Fox news station has a news item detailing five reasons you don't want to buy a timeshare. These include the following:

1. High pressure sales tactics
2. The high cost of a single week
3. High fees even after the timeshare is purchased
4. High interest rates when you have to finance the timeshare
5. In all likelihood, you aren't going to want to vacation in the same spot your whole life

While these are all good reason, there are certainly a lot more -- but better to get some of that information out to people instead none at all.

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