Buy a Timeshare
So You Want to Buy a Timeshare?
Owning a timeshare can be a very rewarding experience, as long as the buyer completely understands what it is they are buying. Too often people do not completely consider the pros and cons of ownership when they buy a timeshare. When people buy a timeshare, they also need to realize exactly how to use the product. Problems with reservations or confusion about a points-based system can lead to frustration, and this agony is one of the most common reasons people want to sell.
Not all of this is the fault of the buyer, as many resorts offer very persuasive sales presentations, but little follow-up on helping their customers understand the product. Some owners believe they own a product that will appreciate with time, just like typical real estate. The truth is while most timeshares are deeded, they should be considered an investment in lifestyle only. These are luxury items that one should not expect any sort of “investment” in the form of monetary profit.
Do the Math
One way to see if you should buy a timeshare is to simply look at the numbers. Below is a quick example.
- Consider the amount of vacations you plan on taking in the next 10 years. Think about how much you typically spend on lodging only.
- Now, consider the purchase price of the timeshare, the interest paid on the loan (if applicable) and the annual fees for the next 10 years.
If your fees are less taking a vacation on your own, then you most likely will not benefit from buying a timeshare. Timeshare accommodations are usually more luxurious, so it comes down to your personal preference if paying more is worth the luxury.
If you want to buy a timeshare, you will most likely find your best deal on the resale market. Using a licensed timeshare broker to oversee the sale is essential. Many owners do not know what they own! You would not want to be stuck with a timeshare that was misrepresented, or find unexpected fees that are due after the closing that were never disclosed.
How to Buy Timeshares
When you use the services of a broker, you employ the power of a real estate professional to ensure the transfer is done properly. Timeshare Broker Associates, LLC can help you find a great deal on the resale market. Our network of by-owner resales and broker connections gives us access to tens of thousands of timeshares for sale at a great price. You tell us where you want to buy a timeshare and we do the work to make your dream come true at a great price!