There is a huge amount of things to consider when buying a timeshare, but for a quick run down of the top ten things you should think about, read the following.
Do your research
Always do your homework before buying timeshare. It is a long-term commitment, so it is important to make sure you get it right and know what is involved. Look on the internet for any comments or reviews about any aspects of the location, resort or organisations you are dealing with.
It may be easier said than done, but make sure you know what tricks scammers use to lure potential buyers in. Always deal with a reputable agent or broker, and if something sounds too good to be true, it usually is.
Never rush a decision
Always take your time in making a decision to buy timeshare. Never feel pressured into signing any agreements on the spot.
Lots of developers offer an inspection visit, which you can try at a low cost. It is a bit like a try before you buy situation, which is an ideal scenario if you want to get a flavour of the resort and timeshare before fully committing.
Know your rights
There are laws and rules governing the buying and selling of timeshare, so it is worthwhile becoming acquainted with your rights before signing up for anything. Knowing where you stand legally will go the extra mile to ensure you have a more rewarding timeshare experience.
Make sure that you fully understand what the costs are involved with owning a timeshare, and whether you would be able to afford the fees over the long term. It is important to bear in mind that owning a timeshare is not the same as investing in a property.
Think long term
Buying a timeshare is a long-term commitment, so make sure that it is something you could see yourself still wanting in years to come. Obviously, you could say to yourself further down the line, I want to sell my time share now, so selling is an option, but you are not likely to recoup the same amount of money that you bought it for.
Location, location, location
Make sure that the timeshare location you choose is somewhere that you want to return to again and again. In some cases, you may also be able to take part in an exchange programme, which could be worth considering if you do decide to go somewhere different one year.
Selling your timeshare might not be the first thing you think about when buying a timeshare, but it is important to bear in mind its resale potential, should you ever say to yourself down the line, I need to sell my time share. Choosing a location that has enduring appeal with great facilities makes for a better resale prospect.
Get everything down in writing
Make sure to very carefully read any contracts that are drawn up before signing an agreement to buy a timeshare. Get a lawyer or expert to read through it, especially if there is anything you are not sure about. Double check that everything you have agreed upon beforehand is included in the contract.
- Wednesday, 05 November 2014 14:15