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Author:
Don Philpott

The most important reason for buying a timeshare is because you and your family are going to use it. Don’t get drawn in by some slick sales pitch into buying an interest in a property if you are not likely to stay there and never ever buy a property purely as an investment.

If you buy a timeshare in a resort that you love and you plan on vacationing there every year, then it will turn out to be a great investment especially if you take into account savings on hotels over the years and other factors, says Patrick E. Dougherty, owner of Timeshares United, which handles timeshare properties worldwide.

“With time share ownership available for less than $2,000 a week, buying makes a lot of sense to many people. For about the price of just one vacation, you have a deeded luxury property you can use for years and years to come,” he says.

“And, if you don’t want to go back to your timeshare every year, you can rent it out and choose to stay at any one of 5,000 other resorts in 90 countries around the world. All the time, you have an asset that you can sell at any time if you need to,” Dougherty adds.

There are a number of things that potential buyers should be aware of, he says. It is usually much easier to sell a timeshare property in one the most popular resort area and the week being offered is also important. If you have a week at one of the most popular times of the year, you can sell at a premium,” he says.

That is why you must choose carefully when buying in the first place. You may love a particular resort but if it is not popular, you are not likely to find too many buyers. If you want to rent, you are also more likely to attract people if the property is in a top destination.

Equally, pick your week or weeks carefully. Remember that if you buy a week during the most popular times of the year, it will give you greater bargaining power when it comes to exchanging your week for one at another resort and it will also help you sell for a better price.

Resales offer some of the best bargains. If you buy from the resort developer you normally pay a premium which can be as high as 40% to cover sales costs and marketing. You don’t have to pay this premium when buying from an existing owner.

“People buy timeshares for a lot of reasons. Some get carried away and buy on impulse and then find they cannot use the property. Others buy but then their circumstances change and they can’t afford the management fees. In any event, these distress sales provide some of the very best bargains around if you can find them,” says Dougherty.

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A Quick Note From The Publisher... If you like the article above, you may be interested in the following article which is also related to Timeshares... Timeshare Q And A: Understanding Types Of Timeshares Available * What are the different types of timeshares available? Timeshares are available in two basic types — 'fee simple' and 'certificate.' Fee simple is similar to the ownership of one's home, while certificate is similar to a lease like renting an apartment. Another term for a fee simple ownership is deeded timeshare property. Fee simple ownership is like owning your own home and you receive a deed to the timeshare. On the other hand, certificate ownership, also known as right-to-use, gives you the ability of owning a timeshare for a specific amount of time, much like renting an apartment, only much longer. There are also some different consumer choices. Examples of these timeshares include: • Fixed week • Floating time • Points • Multi-location The fixed week timeshare is the most familiar form and the oldest kind of timeshare. This works by purchasing one or more weeks to be used at the same time each year at your resort from which the weeks are numbered 1-52. Once you have purchased the number of weeks you will use the resort will guarantee that they will be waiting for you at that time. A Floating Time timeshare works by buying your vacation time by the size of unit and season of the year, which is not designated as to the actual date or week of the year. This type of timeshare will give you the responsibility to contact your resort each year and confirm your arrival to the resort. One of the advantages of this timeshare is offering you flexibility in your schedule; however, it is usually based on a first come-first served basis. This means that highly desirable weeks are often full during their season. Also, when exchanging you should first affix or reserve your time at your resort before the exchange companies...