Why are timeshares generally considered a “scam” or “rip-off”?
Do any legitimate timeshares exist where the deal works as advertised?
Generally, Timeshares are talked about in the context of a joke and are rarely taken seriously, but they must have been, or at least to appear to have been, viewed and taken more seriously at some point.
In: Economics
So there are some basic things you have to take into consideration:
1. Is this a place you’re going to travel year after year *OR*
1.a. Does the timeshare company have a wide enough network that you’re willing to take a slight loss in value to travel elsewhere?
2. Can you easily afford the annual maintenance fees?
3. Can you live with the rules set out by the property (booking process, blackout dates, booking for a friend, etc.)?
If you answer yes to all three of those things, then you start doing math. Anecdotally I’ve found the maintenance fees are about 30% of what the room would cost when booked as a hotel. So the math works out to asking which is more:
Purchase price + (maintenance fees x number of years)
Maintenance fees x 3.3 x number of years
Fox Sr. and Mama Fox love their timeshare, but I don’t think they’re going to profit on it in their lifetime. When my sister and I inherit it, it will be like 70% off rooms for a week anywhere we want to go.
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