If you are looking to buy a timeshare on the resales market, you may be surprised at just how cheap some of the prices are. Often many owners looking to get rid of their timeshare will sell it at a bargain price just to get it off their hands, and it is certainly not unheard of for some owners to even give their property away for free!
Before you give in to temptation and grab a bargain purchase on the timeshare resales market, make sure you know what other costs are involved with vacation ownership. As well as the cost of buying the holiday week to stay at the property, you will also need to pay maintenance fees, and other fees may be applicable, depending on the resort. Find out what these associated costs will be, and factor them into your annual holiday budget to make sure that you can afford to take on this type of holiday arrangement. In many cases, this can work out cheaper than if you bought a standard holiday package, but it always makes sense to do your maths before making any long-term commitments.
There are also other things to think about which could influence the cost of your overall holiday. How easy and expensive is it to get to, for example? No matter how cheap a property is to buy on the resales market, if it is tricky to get to and involves a lot of expense, you might want to think again. On the other hand, if a property is located in an area that is easily accessible, and, for example, is served by a number of airlines, including budget ones, that are convenient to get to and from, then this could prove favourable in your decision making.
What about costs once you are in resort? How expensive is the location for eating out, buying souvenirs, going out on excursions, or hiring a car, for instance? Naturally, some destinations are more expensive than others, so decide how the affordability of a place could influence your holiday experience and how much you have to spend. If you have a limited budget, and the vacation ownership property is located in an expensive area, you may be restricted on the things you can do or buy once there. This could compromise the enjoyment of your holiday.
It does require a bit of research deciding if buying a property on the resales market is a financially viable option, so if you know of anybody else who has a similar holiday arrangement find out their opinions. They may be able to shed some light on the kinds of extra expenses you need to think about. Speak to the specific resort, if you have found a particular property you are interested in. Alternatively, get in contact with an expert agency or organisation who deals with the buying and selling of vacation ownership. The more clued up you are about the expenses involved, the less likely there will be any nasty financial shocks further down the line.
- Tuesday, 26 May 2015 06:46