Tips and Suggestions Before Buying Timeshare


Here is a list of 8 important things to keep in mind when purchasing a timeshare:

  1. Do not be pressured into signing at the initial presentation – you can take a little bit to think about making such a huge commitment. Being aware of the different tactics employed by timeshare sales associates will help with this.
  2. Be informed about the different type of seasons at timeshare resorts. RCI uses red during seasons of high demand, yellow during seasons of moderate demand, and green meaning off season or low demand.
  3. Make sure your week offered is in a good season so you’ll have more bargaining power. Use Web Directory – Offering quality website and resource listings as a research tool.
  4. Ask if they offer the points system – points members have a lot more options than week members.
  5. Ask what other costs are involved, i.e. maintenance fees, taxes, closing costs, admin fees, membership fees, exchange fees, and anything else they may put in there until you see the contract.
  6. If you decide to buy a timeshare, make sure it is in a place you actually want to go back to. This is especially important if you are buying into a weeks program because changing locations can be more difficult.
  7. Buy a timeshare because you want to vacation. Selling unused timeshare weeks is difficult and timeshares do not make good investments – they rarely appreciate in value and resales usually yield about 60% of the purchase value.
  8. Use a timeshare sales company that has a solid reputation, read about industry warnings, and use a good closing company to complete your property transaction.
 

2 Responses to “Tips and Suggestions Before Buying Timeshare”

  1. Sgreen Says:

    I bought into one of the timeshare through Grandview in 2005 in Vegas and have been making pmts taken out through my bank. Now I have missplaced my papers because I moved. I would like to know what mortgage company or bank you guys have for your loans. My bank says they do not have any info on this. Can I get response to as many of you so I can start calling these places. If so may I have phone numbers also. I have not used mines but I have called the resort and my name is still register as members. I had a timeshare many years ago and I love it. The only thing was the week we bought into was Thanksgiving week and it was really cold then. Other than that, we liked it. Thanks Hope I get some response to numbers for the mortgage co. or bank.

  2. Sgreen Says:

    I like my timeshare, sorry you feel that way.

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