What to beware of when you decide to buy a timeshare?

The majority of property owners are thinking about how to get out of a timeshare. If you do not want to think like that, you should have a glance at some factors before you buy a timeshare as below.

Cheating resellers

If you have bought a timeshare property and maintaining it for some time, you will feel that the depreciation is hurting you. So, you will think of selling out your timeshare to someone else. But you would not know from where to start your search for buyers of your property. In these cases, the term resellers come in. Resellers are those persons who will have a set of clients ready to buy timeshare contracts from old owners. These people will contact the owners of timeshares that are depreciating. If the owner is willing to sell his property, the reseller will act as a broker between the two and make the deal get completed. He will get a commission from anyone or both sides of the transaction for making it happen without hassles. If the reseller is fake and looking to loot your money, you will end up becoming a victim of his efforts. You should not blindly believe that a reseller is genuine. You should check for the reliability of their service before working with them.

Zero deductions on taxes

If you are facing losses on any of your investments or properties, you can claim deductions in your taxes that you pay for the government. But in the case of buying a timeshare property, there is an exception. You could not show any of your losses and ask for a deduction from your taxes. Whatever losses are there because you purchase the depreciating timeshare, you will be paying the same tax as you have paid before. If any mortgage loans are getting interested from your side, you will also be paying them regularly without any deductions. So, you could not buy timeshare contracts thinking that you can deduct your losses from the property taxes. If so, no one could save you from additional losses.

Payment defaults lead to foreclosures

Before buying a timeshare contract, you should be confident about the rules and restrictions involved in the processes. You will not stop paying the developers after your initial purchase. There will be several factors that ask you for money when you own a timeshare. You may have to pay for maintenance activities carried out in the property for the entire year. Along with this, there will be some special assessments to ensure the quality of the property. You have to sponsor this also. The annual fee for owning the timeshare will be increasing out of your control. If you want your timeshare, you should pay for all these costs in addition to your capital payment. Once you fail to settle any of these payments, you will face foreclosure of your contract. It will reflect in your credit scores and you could face difficulties while applying for some other loans.


The majority of property owners are thinking about how to get out of a timeshare. If you do not want to think like that, you should have a glance at some factors before you buy a timeshare as below.

Cheating resellers

If you have bought a timeshare property and maintaining it for some time, you will feel that the depreciation is hurting you. So, you will think of selling out your timeshare to someone else. But you would not know from where to start your search for buyers of your property. In these cases, the term resellers come in. Resellers are those persons who will have a set of clients ready to buy timeshare contracts from old owners. These people will contact the owners of timeshares that are depreciating. If the owner is willing to sell his property, the reseller will act as a broker between the two and make the deal get completed. He will get a commission from anyone or both sides of the transaction for making it happen without hassles. If the reseller is fake and looking to loot your money, you will end up becoming a victim of his efforts. You should not blindly believe that a reseller is genuine. You should check for the reliability of their service before working with them.

Zero deductions on taxes

If you are facing losses on any of your investments or properties, you can claim deductions in your taxes that you pay for the government. But in the case of buying a timeshare property, there is an exception. You could not show any of your losses and ask for a deduction from your taxes. Whatever losses are there because you purchase the depreciating timeshare, you will be paying the same tax as you have paid before. If any mortgage loans are getting interested from your side, you will also be paying them regularly without any deductions. So, you could not buy timeshare contracts thinking that you can deduct your losses from the property taxes. If so, no one could save you from additional losses.

Payment defaults lead to foreclosures

Before buying a timeshare contract, you should be confident about the rules and restrictions involved in the processes. You will not stop paying the developers after your initial purchase. There will be several factors that ask you for money when you own a timeshare. You may have to pay for maintenance activities carried out in the property for the entire year. Along with this, there will be some special assessments to ensure the quality of the property. You have to sponsor this also. The annual fee for owning the timeshare will be increasing out of your control. If you want your timeshare, you should pay for all these costs in addition to your capital payment. Once you fail to settle any of these payments, you will face foreclosure of your contract. It will reflect in your credit scores and you could face difficulties while applying for some other loans.