10 Secrets Time Share Resorts Won't Tell You

4. It's Cheaper to Rent a Time Share

Every year there are many people who can't use their time shares for various reasons. Instead of just letting the time share sit unoccupied during the time for which it is already paid, many time share owners try to rent out their weeks to recoup some of their money. In many cases, you can rent the same week at the exact same resort for less than it would cost to own the same unit (and many times for less than the time share fees would be) without any of the associated risks that come with time share ownership.

5. Time Shares Come With Multiple Hidden Risks

When you purchase a time share, you purchase a part of that building. That means that if there is a disaster, you are responsible for a portion of rebuilding the time share. While time share resorts are supposed to retain adequate insurance, they don't always carry the amount they are supposed to, and there are certain disasters for which coverage may be too expensive. This leaves you responsible for covering these losses if the unfortunate should happen.

6. Miss One Year and You're Better Off Without a Time Share

All the calculations the time shares sales representative offers will be assuming that you use the time share every year for years into the future. When all costs related to the time share are taken into consideration, a time share's price can range from being much more expensive than a comparative hotel to being slightly less expensive. This, of course, is if you use your time share every year.

If all your time share expenses add up to $1,500 a year and a comparable hotel in the area for the same week would cost $1,600, you may think you have made a financially wise decision by saving $100.

If you use a hotel, rent a condo, rent a time share unit or use some other similar accommodations for your vacations and one year you can't go for some reason, you aren't out any money. With a time share, however, you lose the entire $1,500 you have already paid. Nobody expects that they won't be able to travel every year, but life throws out unexpected twists that will probably keep you from using your time share at some point. If you miss that one year, you would likely be financially better off had you not purchased the time share.