Q. My wife and I own a timeshare in Mexico. In less than five vacations we would spend the equal cost of owning. What are average returns in this industry?
— Thomas, North York
A. Individuals should never purchase a timeshare as an investment. I should however, clarify this as, never purchase a timeshare with the intent of selling at a higher price.
I have yet to hear of a timeshare that has increased over time. That in itself, does not make a timeshare a poor purchase. If your purchase was for enjoyment, then a timeshare can make good sense.
Food for thought: Don’t buy for a profit, without a few days’ cooling period, without consulting a lawyer, with a credit card, or under pressure to “sign now or lose the deal.”
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