Buying a Timeshare

Vacation ownership is one of the most amazing things in the world. Being able to enjoy a high class vacationing area without paying a high class price consistently, year after year, will allow you to build great memories with your family and also have a lot of fun and relax on your travels. But it's also a bit difficult navigating the real estate aspect of vacation ownership, and finding out what's best for you as you look to buy a timeshare. This hub is catered towards those who already know that they want to buy, and have an idea of what they want.

If you want more information on timeshares in general, check out timeshares, or for information on selling, check out the hub on selling timeshares.

Beautiful resorts like this are almost too common nowadays. Why not enjoy one yourself?!
Beautiful resorts like this are almost too common nowadays. Why not enjoy one yourself?!

Finding the Right Type

Not all timeshares are crated equal. There are a variety of different ways vacation ownership is sold. The main types are:

Rotating Week- This rotates the week that you have back and forward with each year. You may start off with week 3 of the year, but then one year you're dropped back to week 2 and a year later you're week 4.

Fixed Week Ownerships- This is the simplest and probably most common type of share where you will get the same week year after year. Unexciting, to say the least. But it may be what you're looking for.

Floating Weeks- If you find this type of timeshare then you'll be able to simply request "a week in the Summer" or "a week in the Fall" and then bid on specific weeks during those times. Be careful that you don't try for a really popular week or you could end up paying more than the hotel is even worth.

Points Systems- Points systems are another popular one and revolve around garnering points based on your ownership level to use the property. One points company, RCI, lets you use your points for more than just resorts, though, they also allow for you to buy cruise tickets and more!

So what is the best type of timeshare? Well it really depends on who you are and what you need/want from your property. Give it a go with whatever sounds best for you.

Rent First

One of the better things about property is that you can rent it out. And many people do just that with their vacation ownership, allowing you to get a good grasp of what a share will be like before you actually buy it. The link below will give you a resource for renting:

How to Buy

The best way to purchase a share is to go directly to the developer. Sure, you can get it for a premium if you purchase from an owner, but it's a lot easier to avoid scams and get the proper contract if you go to a developer. Speaking of scams, be wary because there are a lot of them! Avoid scams by getting the proper paperwork squared off. Check out whose selling the property, and if it's too good to be true, then it probably is. Just don't do anything foolish and pay before you've gotten to view the paperwork properly.

And speaking of paying, there are a variety of payment options you might be thinking about exploring, but cash is probably the best. An upfront purchase saves you tons in fees and times. You might also want to start looking into hiring a real estate contractor for the purchase. Overall,  dot your i's, cross your t's and you can be sure you'll be able to safely get your timeshare.

Another way that you may be overlooking is to buy from eBay. Some really cool eBay timeshares are available if you want to check them out in the sidebar!

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