There are many reasons why people exit a timeshare. Here are three of the most commonly cited reasons why for every person buying into timesharing right now there are over four hundred people simultaneously opting out and exiting their timeshare agreements, and why.
- If You Were Mis-sold Your Timeshare
If you have been or are concerned you were mis-sold a timeshare, the best advice there is definitely to, when and where possible, act fast.
Whilst timeshares are often sold as ‘non-cancellable’ by sellers and timeshare sales people, the fact that a timeshare agreement is a legally binding contract, rather than sealing your fate, in fact can save you. That is, there are laws here within the UK to protect those entering a contract (of any kind) from effectively being conned.
Anybody who does sign a timeshare contract or buy into timesharing only to discover the reality is not exactly quite the dream promised or that their agreement fails to reflect and accurately communicate all that was discussed and agreed upon or promised, you do have the power to opt out and can do so without incurring any financial loss – provided, that is, you act fast; all timeshares are sold, by law, affixed with a ’14 day cooling off period’ to ensure buyers cannot be duped into buying something that they do not actually want or is not, in reality, what they wanted or thought they were getting.
You can learn more about the terms surrounding the ’14 day cooling off period’ and as well many of the other ways of exiting a mis-sold Spanish timeshare by giving the article: Getting Out of a Timeshare featured on the Timeshare Consumer Association website a read. Alternatively, to speak directly with a professional who can offer expert advice and support and to learn about how to exit a mis-sold timeshare wherever the property is located, the best advice is to turn to TESS, the Timeshare Exit & Support Services.
- If Annual Fees are Proving Too Much
Whilst timesharing when devised back in the swinging 60’s of post war Britain, was very much embraced and celebrated (perhaps a little too much) as a means of enabling families and couples who couldn’t afford to purchase property abroad a means of getting exactly that, few of those who consequently jumped on the idea foresaw just what it would come to cost them.
Today, of course, things are different – and, it is important to note, that with more people being aware of the responsibilities, especially the financial ones, that buying a timeshare ties a family to, fewer and fewer people are buying into the timeshare dream. That said, of those who did opt in to timesharing, many are also currently living a nightmare and paying for the privilege by being charged annual fees.
Most simply, timeshare fees are an annual affixed bill that those who own a timeshare are legally (as part of their timeshare agreement) responsible for paying in order to maintain the property in which they holiday. Often what people fail to realise is that fees are not always or necessarily calculated to mean that each timeshare ‘investor’ pays a fair percentage of any maintenance costs appropriate for the timeshare property they have bought into the lease of as part of a timeshare agreement; rather, timeshare fees often cover any additional costs involved in maintaining the surrounding areas and / or communal facilities of the complex in which a timeshare property is located.
In consequence, timeshare fees can come as a real bugbear at best and nightmare come true at worst, costing you hundreds to thousands even every year, despite the fact that you purchased a timeshare in order to enjoy saving yourself some money in the long term; suffice to say, the reality is not always as it seems.
Then, to work out whether you are paying over the odds, or at least more in timeshare fees than you stand to spend on an annual package holiday, give the Ebay website article: Timeshare Management Fees vs. Package Holidays a read.
- If Timesharing No Longer Suits Your Lifestyle
Not all of those wanting to exit a timeshare are desperate to do so due to having been mis-sold an agreement or because they are struggling to afford the annual fees attached to owning a timeshare. In fact, many people have enjoyed years, decades even, of happy holidays provided as a result of having purchased into a timeshare. That said, a proportion of that number are finding that in 2016 the regulations, contractual stipulations and restrictions attached to holidaying via a timeshare no longer work for them, or permit them to take the holiday they want to take.
Because timesharing is a particularly inflexible means of holidaying, that is it involves holidaying in the same location, accommodation and often during the same window or period of time each year, often the reason those who once happily enjoyed their timeshare in time find it no longer suits them or meets their holidaying needs.
Then, it might be time to exit a timeshare and instead take advantage of some of the more modern means by which so many today are holidaying, such as via a package holiday option. Holiday packages currently proving the most popular means of holidaying for Brits, they are provided by any number of high street and online providers such as Thomas Cook.
Meanwhile, for more information on when to exit your timeshare, and how, continue your research into exactly that via the Express website and by reading their Ten Tips on when to Call Time on Your Timeshare.