Buy A Timeshare
So you want to buy a timeshare? Well, it’s no secret, in fact it’s well-documented in every kind of media, that buying a timeshare is something to approach with extreme caution. While buying a timeshare may seem like a luxury you get for a huge bargain, in actuality, thanks to the high-pressure sales tactics employed by any timeshare resale agent, it actually becomes a burden you are stuck with literally forever.
You plan to go into a timeshare presentation with one specific goal in mind – get whatever incentive is being offered and turn around and walk away without listening to a single word they say. But, somewhere along the line, the people who are experts at what they do eventually reel you in, slashing the price in half and making you believe you are actually about to buy a timeshare unit for half of what it’s worth. You don’t sign anything, at least not until the second presentation that you are only going to to get a free hotel at one of the most exclusive hotels. That’s when they get you, seal the deal and get your name on that timeshare contract.
If you, or anyone you know, is in jeopardy of falling for the timeshare trap, there are definitely a list of things that you should consider before moving forward. Make sure to evaluate all your options before moving forward with buying a timeshare. Remember, it is hard to exit timeshare because timeshares are a lifetime commitment.
When wondering about buying a timeshare, whether it’s a redweek timeshare or a white week timeshare, ask yourself these questions:
1. What are your budgetary restrictions as far as upfront costs go? It works like a down payment on a house; when you want to buy a timeshare, you must pay for all of it and upfront. However, keep in mind that you are paying to own a home, not 1/51 of it and also a home usually appreciates in value, whereas time shares have been decreasing in value steadily.
2. How much can you spend a year on timeshare maintenance fees? Each timeshare comes with an annual timeshare maintenance fee that increases every year, usually ranging from $200 to $1000 to start with. Is this a minimum annual fee that you can afford? How much money are you going to be spending on your maintenance fees over the course of your life?
3. Are you sure that you want to return to this exact same resort at the exact same time every year? This is probably the most under-reported reason people decide to sell timeshare weeks.
4. How often do you want to take a timeshare vacation? Once a year? Twice a year? Four times a year? Will this timeshare allow you to travel that often without additional fees?
5. How many people will be going with you on vacation? How many bedrooms will you need and how does this fit into your budget? Will you ever want to bring along your friends or extended family? Will you need to plan ahead for unexpected visiting relatives or family members moving in or children being born? You may even be asking yourself, “Are my kids responsible for my timeshare?”
6. Can you commit to a vacation at least 12 months in advance? Are all your affairs organized enough to learn how to use the timeshare system to your best advantage?
If you take all of these questions into consideration, they should help you to make the best possible decision you can about buying a timeshare. Remember, unless you cancel timeshare contracts they will even be passed on to your children.
Timeshare Relief, Inc. is a company that can help you get rid of a timeshare if this list has made you rethink your timeshare purchase, and now maybe would like to sell an old one as well. Timeshare Relief is here to a timeshare exit solution for those timeshare owners who so desperately need it.
David MacMillan is the President/Owner of Timeshare Relief, Inc.