7 Hidden Fees Timeshare Salespeople Conveniently Forget To Mention

However, as soon as you begin looking at all of the hidden costs and fees, it becomes clear you’re at risk of losing money on the deal.

Want to avoid wasting money on a timeshare? Here are the hidden fees your salesperson forgot to tell you about.

While you only use your timeshare for the week or two annually that you get to visit, that doesn’t mean you’re off the hook for property taxes.

You’ll soon find that you’re expected to pony up for property taxes annually, sometimes adding up to $1,000 or more a year.

Like any property you purchase, a timeshare needs maintenance. You might expect a hotel company or someone else to handle the upkeep, but ultimately you are responsible.

That means you could be on the hook for hundreds of dollars of expenses each year, and those costs will only rise over time. With inflation and an aging building, the expense isn’t going down anytime soon.

Wouldn’t it be nice if staying in a timeshare was like a hotel? Imagine that all you have to pay for is your room, and you don’t have to worry about how much electricity you’re using.

Alas, that’s not the case. You’re responsible for your share of utilities during the time that you’re staying at the timeshare. That could include electric, water, and gas.

When you buy a house, you probably realize that you’re going to pay fees. But did you know you’ll also pay fees when you buy a timeshare?

From an appraisal fee to a transfer fee, you’re going to get hit with many of the same costs you would expect to pay when buying a home. Depending on the resort, there may even be a finder’s fee that the buyer pays the resort.

If you decide to sell your timeshare, you’ll probably first discover that it’s more difficult to sell a timeshare than you anticipated. And, if you do find a buyer, your unexpected and hidden fees aren’t over.

You’ll have to pay fees to your real estate agent when you sell the timeshare. You might have to make concessions to get the sale. The costs keep adding up.

The point of a timeshare is typically to escape to somewhere you can relax and enjoy beautiful views. And that usually means getting on a flight.

What will you do if your timeshare week happens to coincide with absurdly high airline fares? Do you go? Or do you decide to lose out on our investment for the year? There’s often no good answer.

While a house may increase in value over time, a timeshare almost never sees its value rise.

You’re probably going to lose money on the purchase price versus the sales price, and that’s not even considering all the money you lost in fees over the years.

Everybody hopes to make smart homeowner moves, but chances are good that buying into a timeshare will be a blunder.

Before you take the plunge, consider the many drawbacks to timeshares and make sure you fully understand the risks. In the long run, paying to stay in a hotel or Airbnb is likely to be more cost-efficient than joining the timeshare crowd.