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How To Buy A Timeshare
By Dick Conklin, Thu Dec 8th
My way of buying timeshares is a little different. It may take abit longer, but you'll save money. Start by selecting a favoritevacation spot. That's because if a timeshare exchange requestdoesn't work out, it's nice to own at a resort that you enjoystaying at. If it isn't far from home, you won't have to spend alot of time and money getting there. And if it is a popularspot, others will be willing to exchange their weeks to go there. Going Onsite Now that you have a location selected, visit the timeshareresorts in the area. Skip the sales presentations. In fact,avoid resorts that are still in their initial selling phase.Their prices are inflated and there are too many restrictions onresales. You'll do better at places that are 100% sold out andowner owned. Walk around the resort, including the common areas.Look for bulletin boards showing owner-to-owner resales. Ask forcopies of their newsletter. Does the resort have a Web site?
Talk to other owners. How do they like the place? What is theyearly maintenance fee? Is the board of directors doing a goodjob? If you can, attend a resort get-together or a board ofdirectors meeting. Ask which exchange companies they use, including any independentcompanies in addition to Interval International (II) or ResortCondominiums International (RCI). Which weeks are most popular?Often you can buy bargain off-season weeks that still tradewell. In most cases, the larger two-bedroom units are morepopular for exchanges. Meet the resort manager. He or she knows the place better thananyone. Spend some time with this person. Ask for a tour, andvisit a couple of units. What rules and restrictions are inplace? What amenities are included? How
are units sold? Ifowners are required to sell through the resort, prices will behigher. Shopping for Deals The best deals are owner-to-owner sales or better yet,foreclosures. Ask about any bargain weeks they are trying tosell. Remember, in timesharing, a resale unit is the same as a"new" one. Both receive the same upkeep and usage year afteryear. And shop for weeks that fit into your yearly vacationperiod, in case your exchange plans fall through. How much should you spend? Of course, it depends on the resort,theweek, and the unit. Shop around -- you'll probably find weeksselling for under $1,000. If you are uncertain, rent for acouple of years before buying. Remember, if you pay the true"going rate" for a unit, based on what owners are willing tosell for and buyers are willing to pay, you'll approach the fairmarket value. If you buy a timeshare week at a fair marketprice, your future selling price should be closer to what youpaid for it. How to View Your Timeshare But no matter how much you pay, don't look at your timeshare asan investment, any more than you would any other form ofvacation or recreation. If you take a cruise or fly to Europeyou don't look for a return on your investment. Withtimesharing, you should get some money back if and when yousell, but your main reason for buying should be the quality ofvacations you'll have at your home resort or the ones youexchange to. Happy timesharing! About the author:Dick Conklin is a freelance writer and a timeshare owner since1980. He has written several articles and created a 40-yeartimeshare calendar (http://keysy.com/calendar) for timeshareowners. He also designed a Web site for his home resort, theDaytona Resort & Club (http://keysy.com/drc) and writes reviewsof restaurants and night life in the Florida Keys(http://keysy.com).
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