Wednesday, October 6, 2010

Top Ten Timeshare Dos and Donts

Timeshares are a form of ownership or right to use a property. Typically resort condos, timeshares properties come in all shapes and sizes, including villas, homes, and mansions. Reputable timeshare companies enable owners to enjoy resort and vacation properties that would typically be out of their price range. Owning a timeshare can be very enjoyable; with a full 85 percent U.S. owners completely satisfied with their purchases according to the American Resort Development Association (ARDA).

Don't decide based on a vacation sales pitch.

Sure, that free raft is very enticing and the salesman really does have a great voice, but don't be pressured into purchasing your new vacation property. Understand what they are offering, and if it is the property you want, jump on it, but make sure it's on your own terms. Separate the sizzle from the steak. 

Do visit the property ahead of time, in the season which you will be visiting.

Arizona in the summer and Chicago in the winter are great examples of where not to travel. Arizona in the winter and Chicago in the summer are paradise. Make sure you understand the climate and seasonal activities of your new home to make sure you enjoy it fully.

Don't take the first offer.

Protip: Haggle. Salespeople get paid on deals they close, so they will bargain with you. Estimate what you think the true price of the property is and work to get as close as possible to it. Alternatively, talk to a reputable timeshare company and simply ask what they think it is worth. We are here to help.

Do get the best financing

Banks and creditors will compete fiercely for your business. Assuming a decent credit score, talk to several lenders and see what the best package for you is.

Do budget properly.

Depending on the individual property it may be all inclusive or there may be additional expenses such as maintenance and membership fees. Figure out what your new vacation property is going to cost you and if you can afford it, go for it.

Do understand what you are purchasing

Timeshare contracts can be confusing to new and prospective buyers. At its core a timeshare is a stake in a property that allows the owner to use it for a set term each year. This is great in that you don't need to pay for vacation home year round when you will only visit for a few months out of the year. However, each individual contract can differ. It is important to fully understand what they are offering. Again, feel free to contact TimeIIShare, we have years of experience in the industry and are always happy to help.

Do check out your timeshare company

Most timeshare companies are reputable, professional businesses which make money when their customers are happy. A few, however, use questionable business practices to get quick sign ups. Be careful when dealing with these firms. Make sure you are working with a BBB registered, reputable and accredited timeshare company like TimeIIShare.

Do get some freebies

Use those sales presentations to your advantage. Make sure to take full advantage of the free lunches and resort passes when shopping for a new property. They will work very hard to sell you on the location, so take full advantage of it.

Do enjoy!

Most importantly, enjoy your new vacation property. You are the proud new owner of a condo, house, or villa which you once thought was outside of your price range. Bring family and friends, explore nearby sights, ask your new neighbors what's the most fun to be had and do it.



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