For many, buying a timeshare is a big decision and one that has the potential to generate a lot of happiness for our future. That is why it is important to know what kind of timeshare company you are buying from. Often, the smaller companies may seem on the surface to have the best deals or offer really attractive free gifts, but it is crucial to consider the actual product you are buying and not be blinded by the complementary freebies. Experts agree that when it comes to securing your investment and guaranteeing maximum flexibility and choice, buying from an established company is recommended over a smaller company.
Let’s have a look of some of the disadvantages of buying from a smaller company:
Much of the bad press surrounding timeshare is a direct result of owners having bought with smaller, upcoming timeshare companies. It is harder to do any background research on some of the smaller companies, and so often it looks as though they are a good deal – a no news is good news mentality. However, investors should be wary of smaller companies as you might find they are here today and gone tomorrow, leaving established timeshare companies the hard task of cleaning up their reputation.
Lack of Experience
The perfect timeshare product does not happen overnight, it takes a lot of expertise to combine all the elements that go into making a superb vacation resort: architecture, location, vacation schemes, maintenance and so on. Smaller companies do not always have the experience or the budget to secure that everything is in place to make your vacation property the best on the market, although you can be sure that they are good at making it look like it is.
Higher Maintenance Fees
One of the main complaints about timeshare is the compulsory maintenance fees that are a requirement on any timeshare property. While the reasons for maintenance fees are obvious – to protect your investment, make sure your unit is in perfect condition when you visit and so forth – smaller companies often have to offset their costs by imposing higher than usual maintenance fees. On the other hand, larger established companies are more likely to have lower maintenance fees owing to the principle of economy of scale.
Less Flexibility and Choice
Smaller companies by their very nature limit your options to be able to swap your units for alternative destinations or even upgrade to a bigger apartment should the need arise, whether as a permanent upgrade or for a special occasion. Flexibility over dates is also more restricted in comparison to the freedom you gain with larger companies who have a huge repertoire of options.