Buying timeshare and timeshare resales is easy to do, but like many other things in life, getting out of your timeshare almost always takes longer than getting into it did. For this reason, you should not buy timeshare as an impulse purchase.
Timeshare ownership is an opportunity to vacation better and more affordably, but it is also a contractual commitment you make. Timeshare buyers should do their research, take their time, and make the decision to buy timeshare thoughtfully.
Before you buy timeshare, either from the developer or as an affordably priced timeshare resale, it is important to know what you are really buying. Before you sign your name on a timeshare contract, have a full understanding of whether you are buying a deeded ownership, the right-to-use the timeshare (RTU), timeshare points, or a membership in a vacation club.
An excellent way to get a firsthand perspective is to rent timeshare before you make the decision to buy, preferably renting at the resort where you are considering purchasing. While you are vacationing there, try to talk to other owners about their ownership experience. Assess the service you receive from the staff, the resort’s cleanliness, and quality of the facility maintenance and other details that matter less during a short-stay rental but could be indicators of a bigger problem you wouldn’t want to deal with long term.
Use your calculator. Spend some time figuring how much you will be paying for your timeshare if you are borrowing money to make the purchase and will be repaying that money with interest.
Research several resorts before you make your buying decision. Understand what benefits different brands of timeshare offer at no cost, which benefits they charge you for and how much they will charge, and which rights the initial timeshare owner has that may or may not transfer in a timeshare resale transaction.
Search the internet. See what price others are paying for the timeshare you are consider buying. You can gauge this by the prices you see timeshare owners asking for their properties as timeshare resales.
Analyze your own vacationing patterns and preferences. Don’t pay for benefits that you won’t be interested in using unless you think owning those benefits will make your timeshare easier to exchange in the future.
Surveys of timeshare owners consistently show that an overwhelming majority of owners (upwards of 80 percent) are satisfied with their timeshare. Yet in most cases, if an owner is unhappy with timeshare, it is almost always because he or she did not take the steps on the list above. By failing to understand the vacation ownership product he or she is buying, the future owner is setting himself up to be dissatisfied with the purchase. When it comes to buying timeshare, a little advance education goes a long way to ensuring that you buy the timeshare that is right for you, your budget, and the way you like to vacation.