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Should You Buy a Timeshare?

Were you to ask your friends, family or co-workers how often they take a vacation I am betting some of them would answer that they either can’t take the time away from work or can’t afford to pay for a vacation on an annual basis. If you are in a similar position, how would you like to take a vacation every single year, guaranteed? A timeshare can give you that. But you may be wondering, should you buy in a timeshare? Below are some things to think about before buying one so you can do so with your eyes wide open.

Annual Vacation

One of the many benefits of buying a time share is that you have the ability to take a vacation every single year. You can catch up on rest and relaxation as well as enjoy beaches, skiing, tourism, or whatever it is you enjoy doing or have always dreamed of doing by buying a timeshare.

You Can Travel to Other Locations

When you own a timeshare you don’t have to travel to the same place every year for your vacation if you don’t want to. Time shares can be exchanged for a different package in a variety of locations so you can vacation in many different places and experience a variety of other cultures, cuisines, and fun activities.

You Can Negotiate for a Lower Price

You should know that buying a time share can cost thousands of dollars up front, but there are ways you can negotiate for a lower price. Don’t take the first deal you are offered. Holding out can save you thousands, especially if you sign on at or near the end of a time share presentation when the company is more willing to give you a good deal in order to make the sale. Another thing to consider is buying a timeshare on a resale market, where you can save 50-90% of the retail price.

Know What You Are Signing

Something you should be careful about is the wording of any contracts you sign. For example, most time shares will actually give you a deed that allows you to rent out or sell your timeshare when you are unable to use it and even pass it on to your heirs when you die. But be wary of the negatives such as extra fees that could be charged in case of hurricane damage to the resort your timeshare is part of, for example, or high yearly maintenance fees. In addition, if you sign up for a timeshare in another country, US laws may not protect you, so look over these documents carefully and ask lots of questions. The last thing you want is to shell out a bunch of money and have the timeshare company go bankrupt leaving you with nothing and no options to get your money back since the timeshare was overseas.

They May Be Sold Later

If you should happen to run into financial difficulties after purchasing a timeshare and say to yourself, “I need to sell my timeshare now,” there are options to help you get back part or all of your money, although it may not be easy. Not everyone is in the market to buy a timeshare and you may not be using the same hard sell techniques the timeshare company used on you in order to entice you to purchase it. However, if you are wondering, what is my timeshare worth; there are ways to find out.

If you long for a yearly vacation and have asked yourself if you should buy a timeshare, now may be the right time for you to do so. Hopefully the information above will help you make the decision that is right for you.

What other things would you consider when trying to decide if you should buy a timeshare?

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