A physician on timeshares: Who are they right for?

Timeshares, for those who might not know, are a way to own the right to use a vacation resort. It comes in two forms, owning points or owning a specific room in a complex for a specific week. It’s like a partial ownership of a condo at a resort. These units can be traded for other timeshares all over the world. If you own a week, it can be traded for some other week elsewhere. If you own points, they can be used to “purchase” days in a resort. It is a form of pre-paid vacationing and not a real estate investment.

It seems that every article I read about timeshares is bashing them. It makes no sense to me as I have had a great experience with owning and using our timeshare for more than two decades. So why all the bashing? I suspect the real reason for the bashing is that the wrong people buy timeshares, are unhappy with their purchase, and then their anger overflows onto the rest of us.

Why would the wrong people buy a timeshare? Because timeshares are sold with very aggressive sales tactics. If a car salesman talked you into buying a car you really couldn’t afford, is it the car’s fault? If the realtor and banker got you into a house you should have never purchased, is it the house’s fault? People need to stop blaming the timeshare for their own mistake.

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