Timeshares have taken the tourist industry by storm with around 6.7 million owners worldwide. While the benefits of holiday ownership can be seen as a great value for money and a supposedly guaranteed low-budget holiday, our customers have explained to us why they have been disappointed with some elements of their contracts.
So, why do people buy holiday ownerships? Timeshares can allow holidaymakers the freedom to choose their desired destinations, property types and resorts for a week of each year, or several weeks if additional purchases are made.
Fractional ownerships, however, are sold as more of a lifestyle investment as opposed to general timeshare ownership. With this type of holiday ownership, the property is divided into more affordable segments which is split between the owners.
Splitting an ownership into fractions can be seen as a convenient way to control your holiday budget however, there are usually a few bumps in the road before you can enjoy your stay.
In the past, resorts have been caught out on overselling their timeshare products when it comes to fractional ownerships. This means that even though the resort is usually only supposed to sell 51 weeks per year, they are actually selling their products far beyond their limits.
The limited availability at the resort can affect the booking dates for your holiday and since you don’t have a fixed week for visiting, it could affect your chance to travel to your resort for the entire year.
With fractional ownerships, you don’t actually have a guaranteed holiday each year. While you may partially own this accommodation alongside other customers, it’s possible that you could miss your chance to book!
Fractional ownerships have the potential of providing you with a beautiful holiday home for one week of the year, so it’s understandable that they sell at such a fast rate! Unfortunately, sometimes contracts can be misleading and timeshare ownerships aren’t always what they were cracked up to be. While many people are happy with their timeshares, some people are still willing to explore their possibilities of exiting their ownership contracts.
If you’re interested in knowing more about how we can help you with your timeshare, get in touch using the details below.