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How to know which timeshare is for you?

Timeshares – vacation properties that are owned by numerous people and available for a specific time frame each year – have long been saddled with a bad reputation due to unscrupulous companies in the industry. But with the timeshare market seeing eight consecutive years of growth, according to 2018 survey findings released by the American Resort Development Association, you may be wondering if becoming an owner is a smart idea.

The answer depends on what you're looking for. After all, timeshares have plenty of pros and cons. While often considered an investment, timeshares generally do not yield a high value and are most beneficial for those looking to vacation in the same place year after year. Before becoming an owner, you'll also want to factor in associated fees in the decision-making process. cancel timeshare within 5 days http://www.timesharerelease.com/how-to-cancel-timeshare-after-rescission-period

So, if you've ever thought of buying a timeshare, here's what to consider.

Familiarize yourself with different types of timeshares. Not all timeshares are alike. Some offer a fixed amount of time to stay at a property, such as a certain week every year. Others operate on a floating timeline, where you can reserve the property for any designated time in the year. But there is a caveat with timeshares on a floating timeline: You still may have trouble getting that reservation if you're competing with other timeshare holders.

Another type of timeshare is a right-to-use timeshare, where the property is yours to use for numerous years, but you don't actually own the timeshare, so you can't sell it. But since timeshares can be hard to resell, you may see investing in a membership and lease as a benefit.

Alternatively, you may be interested in getting a timeshare that is points based. Here's how they work: You'll accumulate points by staying with a travel-related company, like a resort, or you'll buy points, but there can be benefits, too. For example, if you're investing in a timeshare network, one with properties around the globe, you aren't always going to the same vacation spot year after year. timeshare release http://www.timesharerelease.com/

Understand the cost. According to ARDA's 2018 State of the Vacation Timeshare Industry report, the average sales price per interval for a timeshare was $22,180. The industry commonly refers to the sales price as per interval, since the buyer is staying at the property every year, or sometimes several times a year, for a certain period of time. So, with a typical timeshare, you may pay around $22,000 upfront in a lump sum for a beachfront property or mountain cabin that you can visit for a week every year. While it may seem like a poor value to spend $22,180 for a one-week vacation, keep in mind that with a timeshare, you can visit the property every year for the rest of your life, unless you decide to sell your timeshare.

Think of it this way: After 10 years, you can average around $2,218 a week for your vacations; after 20 years, you can average around $1,109 for your weekly vacations. The upfront cost may be high, but the longer you hold onto your timeshare, the more value you'll get out of it.

Factor in other fees. Remember, there are timeshare costs to consider, and likely maintenance fees. The average annual maintenance fee is $980, according to ARDA. And depending on where your timeshare is located, and if it's part of a timeshare resort, you may have a transfer fee, a recording fee and, if there are major repairs required, you could be given an assessment fee, which could tally up to thousands of dollars. You also may pay property taxes. In short, read the contract carefully and understand what you're getting into before you commit to buying a timeshare.

"The resorts are often very nice, but the contracts may not be so favorable," says Gordon Newton, the author of "The Consumer's Guide to Timeshare Exit," who runs Newton Group Transfers, a Grand Rapids, Michigan-based company that specializes in helping people get out of their timeshare contracts.

You'll always want to factor in the travel expense of getting to your timeshare. If your timeshare is far away, that may mean high airfare or gas prices. If in the future you decide not to go to your timeshare property, perhaps to save on expensive plane tickets and driving costs, you won't get use out of your timeshare and you'll waste money. Stick with reputable brands. Be wary of common timeshare scams. Victims often buy timeshares from companies and then learn that the property isn't what was advertised (or there is no property). Fraudsters also dupe timeshare owners by promising to buy their timeshare, or help them sell it. It can be hard to distinguish between the good and the bad actors, so you'll need to scrutinize the companies you're working with. Avoid falling prey to scam artists by reading online reviews, seeking out referrals and vetting companies thoroughly. Think of a timeshare as an investment in your future. Consider a timeshare to be a way to save on your vacations in the long run. "While some resorts prove to be a smarter buy than others, like Disney or Hilton for instance, most have zero resale value," says Brandon Reed, CEO of Timeshare Exit Team, headquartered in Lynnwood, Washington. His company specializes in helping people get rid of timeshare contracts. cancel timeshare contract sample letter http://www.timesharerelease.com/cancel-timeshare-contract-sample-letter-that-works

"As a general rule, timeshares should not be considered a long-term investment but rather a prepaid vacation plan," he says. While investing in timeshares can be a risky proposition, they're not always a bad idea. If you plan to use the timeshare each year, it can yield a high value over time. The catch: Preplanning your vacations for years to come doesn't always work out.

Usually, unhappy owners become dissatisfied "due to circumstances out of their control. Maybe they've gone through a divorce or lost a spouse, or their kids have grown up and they just don't travel like they used to," Reed says.

You also might underestimate the costs. "Maybe their property's annual maintenance fee has increased so much that they can't keep up with the payments, which happens all the time, even in cases where owners have paid off their timeshare mortgage," Reed says. `` So if you're interested in a timeshare, first carefully consider the perks, drawbacks and costs to assess if owning one will be a financial headache or help you curb travel expenses each year.

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These simple steps will guide you to understand timeshare

Understanding fractional ownership. Owning a timeshare property is much like owning a townhome or condo, except that your ownership is limited to a specific time period during the year. A timeshare has a deed and a property description just like any other real estate. It is recorded in the county courthouse just like other real estate, and it requires property tax, insurance, a title, title insurance, and a formal closing like other property. The one difference is that the property description will have a time element included. That is key since if you don't like the time slot, you essentially have to sell your unit and buy a new one to get a different time slot. Two more rules that apply to real estate may be important here. First, understand that nothing that the salesperson tells you is binding since in real estate, the only thing that matters is what is in writing. Second, since these purchases are legally recorded, they are very difficult to undo.

Step #2 Red, blue, and white weeks. The key difference between a condo and a timeshare is the time factor in ownership. A unit owner typically gets one week per year. That week nearly always starts at noon on Sunday, and ends at noon on Saturday, but this varies at different resorts. Some resorts offer points that can be used at different times of the year. This is more flexible, but the best weeks often require more points than you are allocated in a given year, so you get to visit less often. The very best and highest demand weeks are called Red weeks. The middle demand weeks are called Blue weeks, and the low demand off-season weeks are called White weeks. The Red and Blue weeks will typically cost more than White weeks, however, most White weeks are truly times that you would typically not want to visit the resort. Think of Minnesota when it is minus 20 degrees, or Bombay during the rainy season. While you should pick the time that works the best for you, keep in mind that anything less than a Red week will hurt resale value and be hard to trade. cancel timeshare within 5 days http://www.timesharerelease.com/how-to-cancel-timeshare-after-rescission-period

Step #3 Do not get sold down the river. Never allow yourself to be sold a timeshare. Don't get involved in the high pressure sales events. It is not worth the TV set or other gift that is offered. Timeshare sales commissions are so high that it is worth whatever mind games and illegal tricks that they can think of to get you to sign on the bottom line. If they tell you that this is a unique property, read that as the market is almost flooded. If they say it is a limited time offer, know that they have more units on the drawing board ready to go when yours is sold. The best way to buy a timeshare is to be an informed buyer. You are the one who needs to research resorts and find out who has units for sale. The Internet makes this work relatively easy. The secret of the industry is that many timeshares end up being abandoned and foreclosed. You can buy these repossessed units for next to nothing. For example, a $20,000 timeshare can be picked up for 10% of that on the resale market. I have seen deals at older resorts where they will give you the unit and several years of waived management fees just to get you locked in to pay future management fees. Never, ever pay full price.

Step #4 A timeshare is not an investment. The sales staff will tell you that a timeshare is an investment that you can sell for a profit or include in your will. That is true, you can sell or pass on a timeshare. You will likely never sell it for more than 25% of what you pay. So, expect to lose 75% of your value within 5 seconds of signing on the dotted line.

The definition of an investment is a capital tool or item that you buy with the intention of using it to manufacture goods or services at a profit. A timeshare does not fit that definition. A timeshare is actually an expense item. In fact, since you don't have to have one, it falls in the luxury expense category. There is nothing wrong with that if you can afford it, and you have no delusions of making money on the deal. timeshare release http://www.timesharerelease.com/

Step #5 Management fees. The key problem with a timeshare is that it eats money. Typical time share fees are $500 to $750 per unit per week per year. You pay this management fee on top of any ownership fees. That $500 to $750 doesn't sound like much when you are thinking of spending $20,000 to $35,000 on a unit, but it gets old after a few years, especially if you don't use your unit every year. In fact, it becomes such a problem for some people that they simply walk away and take the credit report hit. The yearly fee prevents most charities from accepting timeshare donations since they don't want to get stuck with the fee, either.

Step #6 Selling a timeshare. Selling a timeshare is very difficult. This goes double for someone who bought a timeshare without understanding how they work. The truth is that a timeshare drops in value by 75% or more the moment you buy it. Most people find it impossible to sell a timeshare. The resort sales staff don't want to compete with individual sellers, so they often make it impossible to advertise on-property where new victims might see the signs. Also, some scam artists prey on this problem by offering to sell your unit as long as you give them an up-front fee. In reality, this fee only pays to place your ad in their timeshare book. You will never sell your unit this way, and simply end up losing the fee on top of your other losses.

There are a few ways to sell your timeshare. You may be able to list it on E-bay or in your local newspaper. It may sell if you have a price that is under $2500 or it is a high-demand unit for some reason. You might also be able to bribe your sales agent into selling your unit if the place still has new sales going on. They don't normally resell units, but if you offer a huge commission, they may sneak it into the mix for you.

Step #7 Trading your timeshare. The timeshare people always tell you that you can trade your timeshare for properties all over the world. For example, you can trade your Branson unit for something in Paris, the Riviera, or Waikiki Beach. In reality, people with the good units like this don't trade very often. Second, it is difficult to get someone to trade down. Why should someone who owns at Pebble Beach come to Branson? Hopefully not for the golf. Third, the trading organizations all require a membership fee and a fee for each trade that they arrange. By the time you pay the fees for a trade, you are probably just as well off staying in a nice hotel at the destination and keep your week in reserve.

Step #8 Letting others use your timeshare. If you don't use your timeshare in a given year, you have the option of letting someone else use the unit. You can simply give them the usage, or rent out the unit. If you do this, make sure to let the management company know so they don't question the strangers that show up, and to allow these guests to use the facilities. The issue here is that if your guests do not behave, or cause damage, you are on the hook to pay. Make sure that you only give your keys to someone that you trust in your house.

Step #9 Damage and upkeep risks. All properties deteriorate over time and need updates. In some cases, mother nature speeds up this process with hurricanes and ice storms. The bottom line here is that if the reserve fund for the resort cannot pay for something, they are free to pass the costs onto the members in the form of a special assessment. For example, many timeshare owners received bills for $500 to $2500 to fix hurricane damage on top of their normal annual fees. Other items that result in these kinds of fees are beach erosion, dock damages, and wooden decks.

Step #10 Benefits of ownership. There are benefits of timeshare ownership. The first is that it is like a short-term condo where you don't have to worry about cleaning or upkeep, so you can focus all your time on vacation. A second feature is that you know in advance exactly what you are getting. This might be nice if you know that you want to spend one week every year playing golf or visiting Disney. In fact, the fixed time each year ensures that you will take a one week timeout. Since I am not a beach person, I used it to get caught up on reading and veg out. But be careful buying a timeshare around some event. Events can move in time from year to year, but your timeshare does not adjust in most cases. cancel timeshare contract sample letter http://www.timesharerelease.com/cancel-timeshare-contract-sample-letter-that-works

Step #11 Long-term ownership. You need to be concerned about the future. Is this resort right for you and your family as they grow and become older? Will the resort deteriorate over time? Will the shine wear off? How good is the upkeep? What will the area be like in 25 years. Will it thrive or decline? What will the property be like in 25 years? Do you want to pay those fees for 25 years?

Step #12 The bottom line on timeshares. The bottom line is that timeshares are expensive to buy and expensive to maintain. It is easy to get in over your head, and they hard to get out of. Do look before you leap. Don't sign on the dotted line just to get out of a high-pressure sales pitch. Finally, look 20 years down the road to get an idea about what the place will be like in the future.

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Working procedure of timeshare

Some people see them as the chance of a lifetim¬e, ¬an opportunity to own a piece of a beautiful resort where they c¬an have a dream vacation every y¬ear. Others think they're shady deals to be avoided at all costs. And lots of people sit through the sales pitch just to get the free gifts.

Most of us have either been approached by someone with an offer to buy a timeshare, or we know someone who has. Although they have a reputation as scams, most timeshare deals are genuine, legitimate real-estate offerings. However, that doesn't necessarily mean they're a good idea for everyone.

Usually, when you think about buying real estate, you envision an entire piece of property that you own by yourself. You can use it whenever you want and do whatever you want with it.

A timeshare is a different kind of real-estate purchase. Instead of paying full price for the property and owning it yourself, you pay a share of the price. This share allows you to use the property for a certain period of time every year. The rest of the year, other people who purchased shares get to use the property. How long you get to stay there depends on your share. A 1/52 share will get you one week per year. cancel timeshare within 5 days http://www.timesharerelease.com/how-to-cancel-timeshare-after-rescission-period

There's really just one kind of property that people only want to use once a year -- vacation property. That's why you'll find the vast majority of timeshares in vacation hotspots like Florida, Colorado and Mexico. A timeshare provides a nice place to stay while on vacation, so people who tend to return to the same vacation spot year after year are prime candidates for timeshare ownership. They never have to worry about finding accommodations for their annual trip, and the property is maintained for them, although share owners do have to pay maintenance fees.

Most timeshare purchases are deeded (or "fee simple") timeshares. This means that the purchaser is buying an actual share of ownership in the resort. Non-deeded timeshares, also known as right-to-use, certificate or vacation-interval timeshares, are more like a club membership. The purchaser owns the right to use the property for a specific time period but doesn't own any real property. The terms of a non-deeded timeshare can include an expiration date, while deeded timeshares confer permanent ownership.

While a 1/52 share is average, there are smaller shares (1/104, or one week every other year) and larger shares (1/12, which gives you an entire month to use the property each year). Larger shares can usually be split up for use at different times of the year. The specific time of year that a share can be used can affect the price -- a share in the middle of prime tourist season will be more expensive. The specific time when your share can be used is scheduled ahead of time, although it may be possible to trade shares with other people at the same resort or even with timeshare holders at other resorts. We'll discuss timeshare trading in more detail later. timeshare release http://www.timesharerelease.com/

Timeshare prices can vary tremendously based on share size, location and time of year, not to mention all the variables that affect any other real-estate value, ¬such as condition of the property and the market for timeshares at the time. A new (or retail) timeshare usually sells in the neighborhood of $10,000, although that can vary by thousands of dollars in either direction. Purchasing a used timeshare can be significantly cheaper, with prices as low as $1,500.

The initial purchase price is not the only cost to consider, however. All timeshare resorts charge share owners annual fees for maintenance, utilities and taxes. Annual fees in the $300 to $400 range are typical, although larger shares or peak-season shares can have higher annual fees, often more than $1,000 every year. These fees are due whether the share owner uses the property or not. Resorts can increase the fees each year -- the initial fees at the time you buy are not locked in. However, some timeshare contracts include a specific clause that limits future fee increases. Sometimes, the annual fee does not cover property taxes, so share owners would then be responsible for those costs, as well.

Timeshare resorts will also tack on extra real-estate fees when the share is sold, such as a transfer fee and a recording fee. If the resort decides to make a major improvement to the property, or it has to make major repairs, it might be able to assess a large fee to the shareowners to cover the costs. Check the terms of your timeshare contract carefully to see if the resort could hit you with a large, unexpected assessment fee in the future. how to get rid of my westgate timeshare http://www.timesharerelease.com/how-to-get-out-of-a-westgate-timeshare-mortgage

Another hidden cost that is easily forgotten is the cost of travel. Owning a timeshare is useless if you can't afford to get to it. Flying to Mexico or Florida or Colorado every year could grow very costly. Once you've read the contract, weighed the pros and cons and compared the total cost of the timeshare to other annual vacation packages, you just might decide to take the plunge and buy a timeshare. How can you get the most bang for your buck? If you are content to visit the same place at the same time each year, then a standard, static timeshare will work out just fine. You'll have the same property waiting for you each year, with no worries about finding a place to stay.

However, if you'd rather visit different places each year, or you're not always sure you can vacation at the same time every year, then this arrangement might not work out. Flex plans and points systems can provide some options.

Under a flex system, the purchaser buys a share in a particular season at the resort. This season is a window of one or more months during which the share owner can schedule his or her vacation each year. Weeks are assigned on a first come, first served basis, so you need to book your week far ahead of time (up to two years) to get the week you want, especially during peak season. sample letter to cancel timeshare contract http://www.timesharerelease.com/cancel-timeshare-contract-sample-letter-that-works

A points system is more flexible. Each share owner has a certain number of points that can be used for different types of accommodations at different times of the year. If you want a large suite at peak tourist season, it might cost 500 points, while a small hotel room during the slow season might only cost 200 points. This allows owners to alter their vacation plans from year to year, although early booking is still a good idea.

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Everything about timeshare

Considering the average hotel unit cost per day for a consumer is likely to grow at 4% annually between 2006 and 2015, timeshares may look like good bargains. But with escalating costs of travel, food and local sightseeing, and Indians planning to increase their travel spend by 17% in 2015 for a holiday, is buying a membership to a vacation rental with a lot of fine print to read into, a good deal after all?

If only saying #ChaloNiklo for a weekend trip with friends or an annual family vacation was as easy as it looks in the cab company advert! The holiday season with the Dusshera, Diwali and Christmas season is almost here and is dotted with long weekends that coincide with school vacations. Although the whole idea of booking tickets, making online reservations at hotels etc along with the exorbitant costs looks daunting, the Indian traveler seems to be surging ahead. A research done by UK-based global travel search engine Skyscanner in 2015 revealed that Indian travelers are at the top of rankings of the world’s most experimental travelers. Indians have searched for over 230 different countries around the world till June 2015 and are making plans to visit countries like Ireland, Sweden, Greece, Japan etc. cancel timeshare within 5 days http://www.timesharerelease.com/how-to-cancel-timeshare-after-rescission-period

However, the intrepid Indian travelers are acutely aware of the rising costs of travel, stay, food, sightseeing etc. and decide to do something to be able to take at least three holidays a year, but still not feel the pinch at the end of the year. A Trip Advisor ‘TripBarometer’ study of March 2015 says Indians are increasing their travel spend by 17% this year. In their quest to find a way to pursue their passion, some gravitate towards timeshare vacations, both that offer Indian and international destinations.

What exactly is a timeshare?

In the Indian context, a timeshare is a property – typically a hotel or a luxury resort – in which multiple parties hold rights to use the property, and each sharer/ member is allotted a period of time (about one week, almost the same time every year in a fixed package and one week of their choice in floater package) in which they may use the property. A membership costs about Rs 1 lakh upwards and the annual maintenance costs about Rs 10,000 upwards depending on which package you are with the timeshare company. One can also sell the share to others if they are not keen on holding it. The member, however, holds no claim to ownership of the property. Sterling Holiday Resorts, Club Mahindra, Country Club etc are among the wellknown ones in India.

According to Ramesh Ramanathan, chairman of All India Resort Development Association (AIRDA), the timeshare market has been growing at 20% compound annual growth rate (CAGR) over the last several years. Increasing transparency and improving consumer satisfaction are among the industry’s priorities, he said in an interview to a national newspaper. timeshare release http://www.timesharerelease.com/

Many travel lovers assume that a membership like this will make their travel plans easier as they already have a list of destinations to choose from and the main cost – the accommodation – has already been paid for. Great thought indeed! Except that in reality, the rooms are not always available at the dates they want. If they want to go for an impromptu holiday, they may or may not get to stay there as it is full. However, there are also travelistas who swear by such packaged holidays that one can take at the same time of the year.

Research revelations

Interestingly, e-Travel Marketing India’s research shows that good holiday deals are an important motivation for customers to go online. About 36% consumers make unplanned trips if offered a discount. According to a 2013 report by Ramakrishna Kongalla, Assistant Professor at Indian Institute of Tourism & Travel Management, Gwalior, only 0.069% of the travel markets are members of timeshare companies. However, the demand for timeshare products in India is likely to grow at 16% annually from 2006 to 2015 by supply growth of 12% annually over the same period. The average unit cost per day for a consumer is likely to grow at 4% annually between 2006 and 2015 compared to 5-8% for a pure hotel product, he states.

Currently India boasts of about 40 timeshare companies, 80 resorts, 20 lakh memberships. According to AIRDA’s report, the reason why timeshares are yet to catch up is because of steep annual maintenance charges. how to get rid of my westgate timeshare http://www.timesharerelease.com/how-to-get-out-of-a-westgate-timeshare-mortgage

Word of caution

The Timeshare Consumer Association UK, a body that claims to give ‘friendly independent advice from timeshare experts’ mentions it in big font: “Timeshare is not a financial investment”. Definitely an eye-opener who perceive it as an investment, and not as an indulgence! Let’s do the math!

Hotel rates in five-star properties range between Rs 10,000 and Rs 12,000 a day, or Rs 70,000 to Rs 85,000 a week. If a timeshare member pays Rs 2.5 to Rs 3 lakh for a membership and avails of 30 holidays of seven days each for 30 years, the cost falls to Rs 10,000 a week’s holiday in a year, which is a fraction of what you pay otherwise. But how many members manage to take a holiday every year? What are the other costs and catches here?

A call to Club Mahindra revealed that the current packages begin at Rs 3.37 lakh for a family of four and the minimum down payment is Rs 50,550 and a few monthly installments depending on number of years you have opted for to pay the remaining amount. Your membership begins after you meet the minimum payment as specified. The annual maintenance charges are around Rs 13,000 upwards based on the package you have opted for. There is a nominal gift charge of Rs 1,100 if you pass it to a non-family member. The sales manager clarified that the company does not refund the money if you are not happy with it though it can be transferred to a family member without much hassle. And no, one can never look at it as a ‘share’ to make profit from, he added. Although the website says there is cancellation charge of Rs 1,700 if you don’t use your confirmed week, the sales personnel said there is no such ‘fine’.

Still not very sure of it

Kalyani Krishna, a homemaker in Chennai and married to a professor in IIT Chennai, talks of her experience with a timeshare vacation. “We bought Zest Mahindra Holiday Package in 2008, valid for a period of 10 years. We paid Rs 80,000 hoping to take a holiday every year and the agent promised us that the company is on the road to expansion and would be soon coming up with resorts in North and Eastern India. In the first couple of years, we travelled to Kodaikanal and Ooty and loved the experience. The rooms are beautiful, on par with five star hotels. The service is friendly.

Although you enjoy one week stay in the resort without paying anything towards room rent, eating food at the facility and also hiring travel services might cost a bomb. With the company failing to open up new resorts, we are stuck with only five destinations to travel. However, they are prompt in collecting ‘maintenance charges’ every year.

In our package, we are entitled to avail the facility only in certain months of the year. The travel timetable we opted for suits my professor husband as it coincides with his vacation. We couldn’t go around much in the last three years due to personal commitments, but we can always carry forward our holiday to the next year. On the brighter side, you can actually transfer your holidays to friends and family. It is a great gifting idea for a newly married couple or to your parents looking for a getaway. If you want to pay less for one week of ‘on par’ five star hotel accommodation every year and relax, these packages work. The trick to save more money is to try out local cuisine and local cabs.”

Suits me fine

Smriti Lamech, a journalist, and her travel- loving family comprising her husband and two children below 12 believes timeshare rentals definitely protect you against inflation. “The properties are by and large well maintained and well staffed. Food and transport are not part of the package and that is made clear when you buy the package. It seems unreasonable to expect more – but then that is the desi consumer for you – unmitigated greed. Food at any resort is expensive because that is what they make their money on. And resorts by definition are outside city limits – how else do you relax in the midst of a forest or on a secluded beach? Obviously one needs to plan in advance like you do for timeshare vacations across the globe. That said, there are often cancellations and we’ve got lucky.” sample letter to cancel timeshare contract http://www.timesharerelease.com/cancel-timeshare-contract-sample-letter-that-works

Ahead of its time

“Timeshare concept is a novel way to enjoy a holiday, especially at a time when Indians are changing their approach towards leisure tourism. However, the biggest challenge is that one has to plan this seven-day holiday almost a year in advance which is simply not possible in the Indian context. Also our vacations are guided by our children’s academic schedules and hence there is overbooking at the destinations. People end up going to places which they hardly know of or because they have paid for the timeshare option and hence don’t want their options to lapse. I think international options are also limited and hence people prefer packaged tours which are well timed, very well packaged and provide greater value for money,” says Ramaswamy, senior manager at a financial services company.

Better deals elsewhere

Suresh Sadagopan, a travel lover and a Certified Finance Planner and Registered Investment Adviser of Ladder7 Financial Advisories, Mumbai, has been holding a membership with a timeshare company since 2007. While he confesses he enjoyed memorable holidays with his wife and child for the initial four or five years, but now he finds that there are better vacation deals one can get online. “The travel market is competitive. Several airline companies are now putting together air travel+ hotel packages (with five stars) at great prices. Even food and local sightseeing is a part of some of these packages and that’s when you feel the pinch of having a timeshare as you are forced to stay there as you’ve already shelled out your fee for the year.” He recently holidayed with a Yatra package and felt the deals were good compared to his timeshare that he still holds.

“Lack of choice is also another factor that puts me off many times. I want to go to Munnar this monsoon but I am left with going to Junagadh only. I find that while my timeshare’s rooms are really well designed with great views and amenities, the resorts don’t give much choice in food. I mean the food is also good, but it is too elaborate and rich. I am not sure I want to eat a buffet at every meal during all the seven days of my stay. I would have liked to eat a simple khichdi and done with. The place I stayed did not provide such simple options.