Why You Should Cut Back On Those Luxury Expenses
Living in luxury is something most people aspire to, but it is not always realistic for their budgets. Still, there are plenty of people who buy timeshares or vacation homes to maintain a lifestyle that they might not be able to afford. Along with learning how to get rid of a timeshare, there are also some solid reasons why cutting back on luxury expenses is a good idea.
Renting Is Always Cheaper
No matter what you pay for your partial ownership of a vacation property, the truth is that renting when you need a vacation place is always cheaper. The Internet has created a variety of ways for people to rent beautiful vacation homes for bargain prices and has practically eliminated the need for timeshares. As long as you book your vacation spot well in advance, you should be able to rent a place that would be just as nice as anything you could buy.
Timeshares Dictate Your Vacation Schedule
When you own a timeshare, you usually own it with other people. This creates competition for vacation times that could leave you having to take a vacation when you don’t want to. When you sell your timeshare, you can choose when you go on vacation and not worry about losing out on the money you invested in a vacation home.
You Are Often Paying For Something You Cannot Use
A vacation home or a timeshare both require routine maintenance. In the case of a timeshare, you pay for maintenance even for the times you are not there. With a vacation home, you have to hire a company to keep your home in order and prevent significant damage. Even if your total vacation time for the year adds up to a full month, that still does not justify paying for maintenance on a property you do not use 11 months out of the year.
Owning a vacation home or timeshare might have been your dream when you were younger, but after a while you start to realize that owning one is actually a financial nightmare.
One thought on “Why You Should Cut Back On Those Luxury Expenses”
My in-laws were timeshare junkies. I never understood why they bought so many. They rarely got to use them…and the one they did use a lot, they still spent thousands on park tickets every time they went, so I never thought it was a good bargain at all.
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