Have you been taking your vacation at resorts that offer timeshares? Or, maybe you’ve even rented some units from timeshare owners on your last few vacations? After a good experience you may be thinking that the “guaranteed vacation” lifestyle might be right for you. If you have decided that you are ready to buy a timeshare, the best tip we can give you is to buy it on the resale market. Sure, it’s hard to resist the hard sell you’ll find from a developer. They offer the sun and the moon to get you to sign, right there, right now. But, if you take the time to “cool off” and think about the purchase logically, and not get swept up in the emotion and excitement of a beautiful resort location, you’ll find that buying retail, is not worth any additional perks the developer might offer. Plus, he has to charge you the highest rate possible to cover his marketing costs and the money spent on all those “perks” they giveaway just to get people to listen to the presentation. Your best deal will always be found purchasing a timeshare resale from an owner.
If you are a first time buyer, we recommend that you buy your unit in the resort where you want to travel every year. Hopefully the resort you want is a popular destination, during a high demand season or week. The reason is that if you do end up wanting to do an exchange or rental of your unit at a later date, you’ll have much better luck if you own a top location during the height of the season. We do not recommend you buy a unit with the sole purpose of exchanging it. You never know what inventory might be out there at the time you are looking to exchange, so, you may be disappointed in your options. You should also never assume renting your unit will be easy or guaranteed. But, you can increase your chances of success on both those items by becoming a member of RedWeek.com. With over 1 million registered users, it’s very likely you will be able to find a renter for your unit or find just the exchange week you want and the membership and posting fees are very reasonable. Learn how RedWeek.com can work for you.
For more information on timeshare resales, see our previous post: It’s a Timeshare Buyers Market