So you’ve visited Mexico and enjoyed your stay so much, that you want to make many return visits. So what better way to ensure a lifetime of yearly Mexican vacations than to buy a timeshare? Timeshares in Mexico – Another Travel Dilemma travel tip are brought to you by Mexican Insurance Store.com Mexican insurance specialists, offering the best Mexican automobile insurance at affordable rates! Mexican Insurance Store.com Mexican insurance specialists suggest you research appropriate limits of liability protection as liability limits for Mexican automobile insurance have increased due to new Mexico Federal 502 Law revisions.
While the temptation to give yourself an excuse to come back annually or endure a lengthy sales session with a timeshare representative may be swaying your decision toward a purchase, think before you buy.
Here are a few things to consider to help give you peace of mind:
Due to its location, Mexico is vulnerable to both Atlantic and Pacific hurricanes. Should one strike and cause significant damage to your timeshare villa, expect your monthly dues to skyrocket. You will need this increase to cover repairs as well as increased insurance premiums.
Annual dues will always rise. You will need this to cover the cost-of-living increases. Expect them to increase by approximately 3% annually, except when significant renovations need to occur.
Consider what would happen if you unexpectedly passed away tomorrow and your deeded timeshare was only in your name. Even if you did include your spouse, the worst could always occur. Since a timeshare is such a lengthy contract, be sure to add a child’s name to the contract in case of an emergency. This way, the timeshare will not have to go through probate while dues, in addition to court-related costs, are incurred.
If needing to sell, the timeshare will decrease rather than increase. Why? Because timeshares expire and the longer a person holds on to them, the fewer usable years remain. Think of a timeshare as a vehicle. The older it gets, the less it is worth.
Fortunately, there is another option to help with vacation pre-payment expenses. Take the money you would have invested in a timeshare and invest it in a Certificate of Deposit at your local bank. Then, have the interest each month deposited into a vacation savings account. This money, in addition to the CD, will also earn interest. By the time it is due for your annual Mexican vacation, the money earned will pay for accommodations, and you will not have lost a dime.
For more information, visit Mexican Insurance Store Mexican Insurance Specialists online.