Some timeshare owners may find that down the line they ask themselves, where can I sell my timeshare? In many cases, this may arise because they did not weigh up the pros and cons of buying timeshare in the first place, or may not have fully understand what it involved. If you are thinking of buying timeshare, make sure you are 100% committed to your decision and understand the ins and outs, otherwise, further down the line, you too could end up as one of those owners who has to ask themselves, where can I sell my timeshare? Here are the most important things to consider.
It is not a property investment
Buying timeshare is not like buying a new home. It will not increase in value in the same way that property does. If you go into the decision-making process believing you are making a future financial investment, you could end up bitterly disappointed. If you end up deciding, where can I sell my timeshare and put it up for sale, chances are, you will not make money on it, or more likely, may get less than what you initially paid for it.
Think how long you want this type of holiday
It can be exciting buying timeshare, but it is a long-term decision, so make sure that it is something you feel committed towards for the next few years. If you think major changes might be inevitable in the future, such as employment or children growing up, consider if these changes would impact on you using the timeshare still, and more importantly, whether you would still be able to pay for it.
If you can not envisage using the timeshare over the long-term, you could end up selling it sooner than you had anticipated. Crucially, check to see how long your timeshare agreement lasts. Bear in mind, if it is in perpetuity, this means it lasts forever!
Do your sums
As well as the initial outlay for purchasing the timeshare, remember you will need to pay an annual maintenance fee. Do your sums beforehand to ensure that you can afford to keep on top of these yearly bills, and that your timeshare does not quickly become a financial burden.
Before you buy a timeshare, make sure that it is protected by industry laws and regulations. In particular, if you purchase a property within the European Economic Area (EEA), you should be covered by industry regulations. If you do buy timeshare outside of the EEA, know what your rights are before making any decisions.
You don’t have to decide on the spot
Many timeshare buyers feel under pressure from overly-zealous sales representatives to make an instant decision to buy. A purchaser who buys on a whim is more likely to regret the decision than someone who has taken their time to think about it and conducted research to weigh up all of the pros and cons. There is absolutely no rush when it comes to buy timeshare, and since it is a buyers’ market, you have the upper hand to take your time in deciding what to do.
- Thursday, 06 August 2015 07:57