An interesting and practical article from Rick Kahler.
For residents of places like the Black Hills, where the first day of spring usually brings a snowstorm, timeshares for resorts in Florida or Mexico can have a lot of appeal.
They seem like a fun idea for a vacation in the sunshine as well as a good deal financially.Over the past 30 years I’ve researched hundreds of timeshare offers.
I’ve never bought one. When you take a close look at the numbers and the restrictions, they simply don’t add up to a good value.One of the biggest problems with timeshares in general is that they can lock you into a specific vacation.
Spending a week at that resort in Mexico in February, exploring the local area and relaxing by the pool, might be wonderful for a year or even several years. But eventually you may get tired of going to the same location, doing the same things, and seeing the same people. After a while, even a rut person like me might want to do something different. Some timeshares mitigate this problem by participating in vacation exchanges like RCI, Interval International, and others. These services, however, will add on a fee.
Read the complete article here Rick Kahler: Timeshares are expensive, look closely at costs | Financial Awakenings.