I purchased a timeshare from Silverpoint around 8 years ago and was sold on the benefits of it being like a financial investment that would grow financially over time and would be great for our kids. Is that correct?
Share
1 Answer
You must login to add an answer.
Dear Maddy58:
Honestly, due to the speedy and evolution of new technologies and constructions, a property 10 years ago or more does not have the same windows, kitchen, technology and functionality as a new and current property, which not only does not makes it functional but unappealing.
Timeshares do not have an active secondary market, which makes selling them very difficult to carry out, it is a difficult investment to liquidate, much less obtain a revaluation….
In addition, you have to bear in mind that timeshare contracts include agreements related to the week to be used and even the dates, so it is difficult to sell or rent them since not everyone has absolute availability.
You also have to take into account the cost of the maintenance fees, as they will always be charged, whether or not the timeshare is used. Why commit to making a monthly or yearly payment for something your kids may never use?
Not to mention the financial issue, because we do not know what will happen tomorrow and this type of contracts “trap” the consumer, in such a way that he/she is forced to always invest money, despite having other priorities in his life and even serious needs.
At Timeshare.lawyer we have the necessary and legal knowledge to advise you before purchasing a timeshare; o if you already have one, we could cancel the contract, so if you want more information, do not hesitate to contact us; Please do so by completing the contact form in this website and we will respond once we have reviewed your question.