Save Yourself $1000's of Dollars and Purchase Your Next Timeshare Resale.
Every individual waits for that time of the year, a much deserved time off from the hectic activities of the long day to day commute... And when the time comes you still have not decided where you are going to take the family. As this time of year rolls around, every year, you wished you had planned ahead. Some people plan their vacations many months in advance, but not you. You are just too busy... and that is exactly why you need a vacation.
In a case like this a timeshare ownership would be ideal for you and your family or friends. A timeshare property give you a place where you can go every year on vacation, on short notice, or travel the whole globe whenever and wherever you wish. It provides a place where you can enjoy and cherish many beautiful memories in the comfort of home-like setting with five star resort amenities. You may choose to prepare your favorite meals, eat out, swim in the pool all day, sunbathe on the beach, ski on the breathtaking mountains slopes of British Columbia or just get the whole family to relax around a campfire with marsh mellows and hot dogs. Whatever you choose, you need to find a place to relax.
Most people who desires to own a timeshare put it on the back burner because they believe it cost too much. With developer cost, marketing promotions and many other fees, a timeshare can cost $20,000 to $75,000.... But hold it....what if you can own a week of timeshare at these same resorts where people paid up to $40,000 for a timeshare property for much less than 20% of the developer cost. This is possible, only if you purchase a resale timeshare. You can have your favorite location, with fishing, golfing and theme parks all for the fraction of the developer cost.
Most people wish to have a timeshare property at their favorite vacation spot. While it may be easy to buy for some, for others it may be a lifetime of savings and their hard earned money. However, getting a resale timeshare at the right price can save a family thousands of dollars on their vacation costs.
Here are a few tips before buying a timeshare.
1. Never buy from the developer. The markup in the developer charge for a timeshare property can go up to 60%. This covers marketing, salaries, promotions and other fees. The time share you purchase from the developer is only worth about 40% of what he charges you and at 40% he is still making a profit.
2. The first thing to do before buying any timeshare is to understand the types of timeshare. There are basically two types of timeshare plans. A deeded plan and a right of use plan. In a deeded property you actually buy a fraction of the resort property (divided int weeks) and own it along with other owners. A fixed unit, fixed week, deeded timeshare allows you to usage for a specific time each year. A floating time agreement allows you to be flexible with which week you want to use your timeshare. Then there are points which give even more flexibility. The right-to-use timeshare or a non-deeded timeshare is a leased timeshare for a specified amount of years. Right-to- use timeshare may be classified classified into fixed week and floating week, as in the case of deeded timeshare. The owner no longer have rights to the property after the lease expires. Leases may for for 10, 20 or 50 years.
3. Before buying a timeshare do your homework about the location, developer, unit types and seasons. Also phone up the exchange companies Interval International and RCI to get general information about exchanges and exchange values. Verify whether you want annual or bi-annual. A good, large bi-annual lock-off unit would serve the purposes of an annual unit for half the price. Research the price of the prices of other alternative accommodations in that place. In general, you will find that hotel accommodation does not provide you with the same comfort as the timeshare accommodation.
4. Also important thing to consider before buying a timeshare is to decide whether you want to buy it for vacation purpose only or as an investment. If you want to buy it as an investment you should rethink. Timeshares are not meant for investment purposes, unless you are a developer. Generally timeshare properties resells for less than what they were originally purchased for. As such do not view them as investment tool but only as a means of saving a lot of money on repeated yearly vacations.The saving as are even more significant if you vacation with a big family or with a few friends.
5. The cost of owning a resale timeshare includes, the actual real property cost (what the week cost), maintenance fees, taxes, closing cost and any associated resort transfer fee, if applicable. Always look for the resale gems and do your homework.
6. If you still wish to buy from the developer insist on having your lawyer look on the document and check all the respective document thoroughly. Accept no promise by word of mouth and NEVER succumb to high pressure sale tactics and unreasonable "incentives" from the sales person. Be wary of timeshare presentations, where the sales person promises you the 'world' and a few free nights stay. These are not really free, especially if you end up buying from the developer.
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