Do THIS Before You Buy a Timeshare

checklistThe temptation is very real. You are in an idyllic setting – whether at a tropical beach, in the mountains, or in an exciting city. You have forgotten all your stress and worries at home and work and are enjoying fine cuisine, wine, and music.

Then comes the offer, “If you buy this timeshare NOW you will save $X,000!! This is a one day offer only”.

Yes the temptation is real.

But.

Have you answered these questions first?

How much will it cost. Really! There are more costs than the “discounted” price. Special assessments run into the thousands. Financing turns that discount into an overall loss. If you really can’t plan ahead and lose your vacation week it ends up being a total loss! What does it really cost?

What do other owners think? Have you had a chance to talk with owners of the timeshare you are considering buying?  What have the maintenance fees done over the years? Do other owners speak well of the resort development and management team? Owner services’ reputation? Have you sought out online forums and reviews where you can read some honest feedback?

Are your vacation times predictable?  If not, go the other way. Planning ahead by 6 – 9 months or longer for a vacation is simply out of the question for so many people. And that turns a great deal into a deal that just can’t get done. If you can’t go on vacation when you want, you can’t get a reservation that will work.

Have you SEEN the resort?  Have you seen the timeshare you want to buy and have it deeded to you for life? Would you be happy spending at least 50% of your vacation time there?  Remember, you cannot always depend on exchanges to get you what you want.

Do you expect it to exchange well? If it is an off season week in Nowhere, USA don’t expect to trade it for Maui’s peak season resorts.

Can I wait 24 hours? In other words, sleep on it. The next day may bring you a new perspective, more information, and either solidify your decision or entice you to run away.

Most important of all, get in touch with a timeshare resale broker. You’ll save time, money, and a whole lot of headaches.

 

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