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
IMO: sometimes deceptive marketing practices aside, the concept of shared ownership for vacation rental is a pretty huge commitment. You’re signing up to the idea of vacationing in the same spot (or at least, properties with the same chain/ownership) roughly the same amount of time per year, which doesn’t offer too much flexibility.
It’s also a binding financial obligation that’s really hard to back down from without taking a massive financial penalty. I’ve personally seen cases where friends have signed such an arrangement and later realized they took on way more than they were expecting.
Latest Answers