Questions to Ask Yourself Before Buying a Timeshare

Since 1969, when the first timeshare property opened in the United States, owning a timeshare has been a popular option for American travel enthusiasts. Some even see it as a status symbol. If you’ve seen a timeshare presentation or are just curious about this unique investment, ask yourself these essential questions to determine if a timeshare may be right for you.

Do You Want More Control of Your Vacation Experience?

Having a timeshare gives a traveler a power that they don’t have when they simply stay at a hotel. If the unknown factor that often comes with travel makes you nervous, going to a timeshare where you already know and love the locale can make the vacation so much more enjoyable.

Did You Thoroughly Check Out the Property?

Before you commit to a timeshare in any destination, thoroughly investigate both the location of the resort and the property itself. The specific location of the timeshare is important. If you want to spend most of your time on the beach, having an oceanfront property is probably high on the priority list. Knowing details about beach access would then be of utmost importance.

Look at the overall amenities of the property. Many timeshare properties have features like swimming pools and fitness centers to make it easy to stay fit during your vacation. Also look at how many units are still available. Knowing the facts about a potential timeshare will help you feel good about whatever decision you ultimately make.

Are You Loyal to One Specific Brand?

If you are a particular fan of a specific brand, owning one of their timeshares can be especially exciting. For example, Disney offers a variety of timeshare options with their Disney Vacation Club. For Disney fans, getting access to exclusives only available to members of the vacation club is part of the fun. Other companies have similar perks and rewards to make members feel special.

Are You in a Hurry to Buy?

It’s okay to want to move forward quickly with buying a timeshare. After all, you may be eager to invest in one before your next family vacation, and purchase incentives may be available for a limited time. A timeshare reseller can help you more speedily choose and buy the timeshare. However, take the time to carefully consider this purchase.

Get all promises in writing before you move forward with the investment. Also, enlist the help of a lawyer or someone who is knowledgeable about contracts to look over all the paperwork before you sign. It’s possible to speedily buy a timeshare while also looking out for your best interests.

Do You Want the Power to Reward Friends?

If you cannot use your timeshare one year, some agreements let you build up points so that you can stay at the timeshare for a longer time the following year. You may also instead let a friend use your timeshare for the week you would be there. If you have generous friends who have treated you well, this can be a pretty easy way to reward them with an experience you know will be positive.

Will You Only Be at the Destination for a Limited Time Each Year?

Some people find that it’s worth the investment to fully own a vacation home. However, if you will only spend a week or two at your destination each year, owning a timeshare can provide the perks of ownership without excessive expenses.

If you owned a traditional vacation home outright, you’d have to worry about monthly mortgage expenses, utilities, upkeep, and what to do with it when you aren’t there. While you could rent it out, that may be more trouble than it is worth. These are just some of the reasons why many people choose to own a timeshare instead.

Will You Be Able to Exchange Points to Stay in Another Resort?

If you think you might want to switch things up sometimes for your vacation, determine whether you can exchange a stay in your timeshare for one in another resort. That might not be an issue if you are sure that you want to only stay in one place, but many people like the freedom to pick and choose which resort they want to stay in each year.

How Will the Timeshare Fit Into Your Budget?

A timeshare isn’t the sort of investment that requires a one-time payment. When you buy a timeshare, you are also taking on annual fees. Additional responsibilities come along with the privilege of owning your little slice of heaven. The Federal Trade Commission advises that you calculate the total costs. Don’t forget to add in annual dues and cleaning fees.

Purchasing a pre-owned point timeshare is one way to save money. In fact, that can help put a luxurious timeshare within your budget that would otherwise be out of reach. Depending on the situation and how motivated the seller is, you may be able to attain timeshare points for just a fraction of the original cost.

Finally, contact Magical Realty today to speak to a caring member of our team about timeshare options and pricing. As one of the few companies that charge no upfront fee, we are proud to help our clients save significantly on their timeshare purchase. Soon you could make visiting your ideal vacation destination an annual tradition for you and your family.