So much promise and hope exist when purchasing a timeshare. Yet, exit specialists Lemon Lion Consulting point out that this promise and hope quickly fade for many people as their timeshare becomes a significant burden. The pretty picture painted for timeshare owners before they purchase hardly ever comes to fruition once the sale is completed.
Here are several ways in which timeshares can become a hassle:
Escalating Maintenance Fees
Part of the original timeshare contract includes a mandatory maintenance fee. Owners are initially assured that maintenance fees cover the upkeep, upgrades, and repairs of their property. However, the reality sets in as owners find that the property doesn’t receive the promised upkeep. Not until after signing the contract do owners learn that these maintenance fees go up to whatever rate the resort deems fit. What’s more, these contracted fees continue for as long as the deed lasts, and, in the context of timeshares, that means forever.
Many owners are unaware that resorts can impose assessment fees amounting to thousands of dollars, attributing costs to seemingly random reasons. Failure to make these payments renders the contract unusable, creating an unexpected and often unanticipated financial burden for timeshare owners.
Not Using It Enough
If your timeshare isn’t getting the use you had in mind, you could be tossing money down the drain. The kicker? You’re on the hook for the monthly maintenance fee, whether you use it or not. And let’s talk about the so-called exclusivity of owning a contract or deed—turns out you can book these resorts online just like anyone else. So, why tie yourself to a timeshare when the perks are looking less special and more like a money pit?
Limited Flexibility
Let’s debunk the myth of exclusivity tied to owning a contract or deed. Turns out, despite owners grappling for availability at the resort, these very same spots are being sold online to non-owners, all in the hopes of reeling in new buyers. The timeshare sales pitch includes a sweet promise that if you can’t travel on a particular week or desire a different destination, making an exchange is a breeze. The ease of the exchange game? Not exactly as advertised.
Changing Needs or Desires
Lemon Lion Consulting reminds people considering buying a timeshare that their needs and desires are likely to change over time. In other words, you may want to travel to one particular destination every year on a particular week now, but will your needs or wants change in five, ten, or even 15 years?
Picture this: a family drawn into the timeshare web during the early years when kids are little, captivated by the promise of endless family getaways. Fast forward, kids grow up, preferences shift, and suddenly, that once-coveted 4-bedroom suite feels more like a relic than a necessity. The desire to jet off to any corner of the globe overtakes the charm of the regular resort routine. Enter the internet era, where the notion of being shackled to a timeshare membership or deed is not just outdated but downright unnecessary. Life’s too short to be ensnared by a commitment that doesn’t keep up with the times, especially when the whole world is at your fingertips.
In this situation — and many others like it — timeshares could easily become a burden that is hard to escape.
About Lemon Lion Consulting
Lemon Lion Consulting has been helping clients successfully exit their timeshare contracts since 2017. With a team of seasoned exit specialists and an unwavering 100% guarantee, Lemon Lion Consulting has empowered countless timeshare owners to break free from the constraints of their enduring contracts.
