When you are on vacation and you get offered a free dinner, a free night at a wonderful resort, or even a free ticket to Disneyland, this is not just an amazing deal that is being offered to you because it is your lucky day. This is often an opening offer for someone who is trying to sell you a timeshare. As good as these deals will sound to you at the time, it is a much better idea to ignore the offer, say no to the timeshare, and walk away. Many people ask if a timeshare is a good investment or if they are a scam. The simple answer is that timeshares are not worth the time, hassle, and money that always comes along with them. 

What is a timeshare?

To make it as easy as possible, a timeshare is a pre-paid vacation getaway. Typically in the form of a condo, you would pay to have that condo for a certain amount of time in a certain location and you would be guaranteed that vacation time every year. The idea of a timeshare sounds way more inviting than they actually are. Along with every timeshare comes the expensive fees to keep up with the vacation that you are going on each year. Many people do not realize how much these fees actually cost until it is too late and the timeshare has been purchased.  

Why are timeshares a bad idea?

Just like any sales pitch, whoever is doing the selling is going to make the deal sound like the best investment you will ever make. When it comes to timeshares, this is not the case. Timeshares are often a terrible investment that the buyer will soon realize once the finances start to settle in. Not only do the fees that come along with a timeshare increase every year, but the value of the timeshare itself decreases each year you have it. In the long run you will end up losing a lot of money just to spend a week in the Bahamas each year. Timeshares will always sound like a great idea to anyone who doesn’t know any better, but before making this purchase it is always a great idea to do a little research about this lifetime contract that you will be signing up for.