There are so many things to think about before you take the plunge and buy a timeshare, with research and gaining knowledge about the industry being key to ensuring you get the most from your purchase. One of the biggest aspects to consider is whether you want to buy your timeshare new from the developer or purchase a resale from an existing owner.
Surprisingly, many people new to timeshare are not always aware that buying a resale property is an option. This is often because developers put a lot of efforts into marketing new timeshares, with the resale market gaining much less coverage. Understanding what all of your options are when buying timeshare is crucial, especially if you are limited by budget and want to get the best deal for your money.
The fact is, if you buy a timeshare new from a developer you will pay much more than if you bought a ‘used’ timeshare from an owner or resale broker. In reality, however, there is actually not that much difference between a new and used timeshare. A new timeshare is only brand new if you are the first person to walk through the door, and then once you have done that, it is no longer new anymore. Where the big difference does lie, is in how much you will pay for a new timeshare compared to a resale one, and often this difference can be pretty significant.
Why would someone buy a brand new timeshare, then, if it costs so much more? It could be that a person is not aware that the resale market even exists. They might not also be aware that, whether you buy new or from a resale, you are essentially getting the same product and experience. Some people might be wary about buying a ‘used’ timeshare from an unknown source such as an auction website or through an advertisement, but if they go through a reputable broker, this should take any element of uncertainty away.
Other people might consider buying a brand new timeshare as opposed to a resale, because the new development offers them something specific that they want from their timeshare experience. This could include a developer offering certain weeks that might not be available in the resale market, or specific amenities, or added programmes such as points that might not come with the resale purchase. In this case, it would be crucial to weigh up whether these requirements merit the extra money you would have to pay to purchase new rather than a resale.
Ultimately, whether you decide to buy timeshare new from a developer at a higher price, compared to a resale, depends on many factors and individual circumstances. It is always important to gather as much information as you can before purchasing timeshare, so you can consider the pros and cons of different options. Expert brokers are also worth talking to as they will understand all of the issues involved with timeshare, whether you are buying for the first time, or have decided, now is the time to sell my time share, or if you just need some general advice about your rights or what is involved.
- Tuesday, 06 January 2015 12:01