Choosing a timeshare is an exciting decision. It’s sure to inspire anticipation of many vacations and good times yet to come. It’s also a popular choice. According to research by the American Resort Development Association, the timeshare industry has seen its ninth consecutive year of growth. If you want to buy a timeshare, consider these dos and don’ts to help you find the right one.
Do Make a List of Reasons Why You Want a Timeshare
Timeshares offer you the chance to feel at home while you are on vacation. There’s something magical about going to the same condo or home each year and knowing what to expect on your vacation. Timeshares empower you to create years of memories within the same walls.
As the U.S. News & World Report suggests, a key reason to buy a timeshare is to create memories with your family and friends. Also, if you need an extra nudge to plan a vacation, a timeshare can be an ideal solution because it will be there each year to use. That consistency can simplify your vacation planning and encourage you to make time to get away.
Don’t Buy a Timeshare While on a Vacation
You may notice timeshare sellers as soon as you exit baggage claim at some airports in Mexico, and you may come across timeshare booths while enjoying your time at Disney World. However, the best time to buy a timeshare is not on impulse while you are on vacation and feeling enamored by the destination where the potential timeshare is located.
Instead of purchasing under the high pressure of a salesperson you meet on vacation, take the time to think things over and look at all your timeshare options. You may find a much better deal later or decide that you want to buy a timeshare in a different location.
Don’t Forget About the Annual Dues and Fees
When you buy a timeshare, you will be responsible for paying dues and fees each year. The amount you will pay may vary widely based on many factors, including the length of your rental and the location of the resort. As you consider whether you should buy a timeshare, don’t neglect to realistically assess what your financial situation is likely to be like for the next decade.
If you plan on buying a timeshare with your romantic partner or another vacation-loving family, make sure that the contract is specific about any shared responsibilities. Make sure that you only purchase a timeshare with people who have a track record of being financially responsible and will be able to pay their timeshare-owner dues and fees each year.
Do Consider Renting Before You Buy
Think about renting the timeshare that piques your interest before you commit to buying it. Renting a timeshare before you purchase it offers many advantages. It lets you stay in some exclusive vacation rental properties and explore their different amenities and perks to see how they offer value to you.
By experiencing the location, you can move forward with greater confidence since you’ll know whether it’s a good fit for your needs. Also, renting a few different timeshares first can allow you try out what different properties and resort brands have to offer firsthand.
Don’t Settle for a Timeshare You Don’t Love
When you look at timeshares, you may be tempted to buy a timeshare in a less-desirable location with a plan to eventually trade it in for a hotter property when the market changes. That leaves too many variables beyond your control, and you don’t want to risk having anything but a timeshare you’ll love.
As you look at different timeshare properties, consider how much joy each one would bring. Make a list of what you most want in a vacation property, then make sure that the timeshare property at least fulfills the most important qualifications. Take the time to select one that inspires you to daydream about your next getaway.
Do Think About Purchasing Your Timeshare from a Reseller
Rather than buying your timeshare directly from a developer or company like Disney, consider purchasing a resale timeshare. Rather than put a lot of in-person pressure to get you to commit, a reseller will be happy to conduct business over phone or email as you explore your options. The lack of pressure gives you the freedom to assess your choices based on what you truly want.
Also, timeshare resellers typically vet companies to ensure that they only sell timeshares in good standing from reputable resorts. What really prompts many people to buy from a reseller is the fact that they can save thousands of dollars. Resale prices can sometimes be as low as a quarter of the original purchase price for the timeshare.
Finally, contact Magical Realty today to speak to a caring real estate professional about your timeshare needs. As a small, family-owned business, we specialize in helping buyers, renters, and sellers in the timeshare resale market. We will be happy to help you find the right timeshare to fit your needs for the best price point.