In the process of buying and owning a timeshare, owners tend to make many mistakes. Lots of these mistakes cost them money. All these mistakes can be avoided.
Lets take a look at the top four mistakes timeshare owners make and see what we can learn.
Mistake #1 – Buying a Timeshare at the Resort
Buying your timeshare at the resort is like making change with a 20 dollar bill and only getting $10 back. You will always pay at least twice as much as you should when you buy timeshare at the resort. At the end of their “tour” they have you captive, excited about your stay, having a great time, and burying you with fake news numbers that hide what you are about to spend.
There are plenty of timeshare owners who would gladly part with their timeshare for half of what the resort charges! But how would I find them? We’ll get to that later.
Mistake #2 – Not Using The Timeshare Every Year
One of the biggest selling points of timeshare is that it is a way to dramatically reduce the cost of your vacations. However, the first time you skip a vacation for a year and lose a week it becomes a big loser! You pay the maintenance fee and get nothing in return. Sure you can bank the week. But that’s more like making a donation to corporate hotels than reserving anything for the future.
If you use your timeshare every year it actually saves you a lot of money. In that case you’d me making best use of the timeshare in the way it was designed to work. If you don’t use your timeshare every year you should consider selling it.
Mistake #3 – Waiting Too Late to Make a Reservation
If you make your timeshare vacation reservation one year in advance you are assured most times you will get it. If you make your reservation 6 to 9 months in advance you have a fair chance of getting what you want. Anything less than 6 months in advance and you not get what you want. Why is that?
If you have not made a reservation for your timeshare 6 months in advance the resort may do several things that could make your week go away. They may wholesale your week out to a third party like Expedia.com, Travelocity.com, or a dozen other companies like that who rent timeshares out to non-owners.
So if you wait until 3 months in advance to make your reservation you won’t get it. It was not already booked by another owner. It was sold off to one of those companies. And you get nothing in return!
Mistake #4 – Believing the Hype
Every so often I run in to a timeshare owner who has a deep belief in everything they heard from the sales staff when they first bought their timeshare. Although they’ve never tried, they believe their off season one bedroom timeshare will get them to Hawaii in a Gold Crown resort and multi-bedroom suite. They think their timeshare is still worth every penny they paid for it – interest and maintenance fees included. They also think their timeshare is the greatest investment they ever made because they were sold a “good only today” offer resort property.
These ideas are no problem as long as they don’t try to use or sell their timeshare. Then the moment of truth comes: they cant exchange for Hawaii, their maintenance fees are skyrocketing, and on the resale market their timeshare is worth less half than what they paid. That is if they can find a buyer.
If any or all of these issues have arisen in your timeshare experience maybe it is time to unload your timeshare and be done with the disappointment.
Cut your losses. Get out – sell your timeshare.
Lessons learned? Buy timeshare resale, not retail. Use it or lose it. Plan ahead so you can use your timeshare. When disappointment hits, just sell your timeshare.
Timeshare-Resale-Broker.com is the leader in the Vacation Resale Brokerage Business and innovators of timeshare resale services for individual consumers and software for resale agents. Since 1979 (over 38 years) we have had original management. All of our Timeshare Agents are Resale Specialists and members of NAR, the National Association of REALTORS®.
We pioneered the first timeshare resale broker website on the Internet in 1995. We advertise on many more.
People wanting to sell and get rid of a timeshare benefit from the professionalism of a licensed timeshare resale broker who stay on top of the ever changing technology as well as industry direction. We work with all buyers for the vacation properties registered in our database. We have a team of REALTORS® and personnel who are forever assisting the buyers, sellers and insure that the time share sale transaction is as smooth and easy as possible. Call today to get rid of the timeshare albatross! Call us at 1-800-247-4392
Experience: We have sold and closed timeshares in over 29 countries, in 47 states in the USA, have closed deals with sellers and buyers from over 89 countries. We have helped thousands of owners get out of an their unwanted unit. We have a program that gets you out of your property without waiting for a buyer too. This stops the fee payment burden right away.
We offer all our expertise to you!
Our offices are at 14500 Hwy 105, Conroe, Texas 77304.