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Article rating : 0.00, 0 votes. Author : Don Philpott
There has never been a better time to buy a timeshare with great bargains to be had in all the top resort destinations.
There are now more than 5,000 timeshare resorts worldwide so whatever your favorite type of holiday destination, you are going to find just the right one for you and your family, says Patrick E. Dougherty, of Timeshares United.
“The timeshare market continues to explode and is the fastest growing sector of the global travel industry with more than 6.7 million timeshare owners and annual sales fast approaching $10 billion,” he says.
“The timeshare market is really booming, especially in the United States as prices are so attractive to overseas buyers because of the weakness of the dollar against many foreign currencies,” says Dougherty.
“With timeshare 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.”
“Many people don’t want to spend hundreds of thousands of dollars buying and furnishing their own holiday villa and why continue to pay for hotels year after year,” he adds.
“Another major advantage of timeshare is that if you don’t want to use your property one year, you can rent it or you can choose to stay at any one of the 5,000 other resorts in 90 countries around the world. And you are sitting on an asset that you can sell at any time if you need to,” says Dougherty.
After Florida, the most popular timeshare states in the US are South Carolina, California, Hawaii and Colorado. Other hot spots are Las Vegas,
Arizona and Mexico.
Ten Top Tips When Buying Timeshare
1. Only buy in a resort that you like and plan to visit on a regular base,
2. Don’t buy a time that is not suitable to you even if you like the resort. If you prefer to holiday at a particular time, try to get that exact week or one on either side of it.
3. Check for complaints against the resort developer and the management company. The state Attorney-General and local Better Business Bureau are good sources.
4. Always buy from a professional reseller who offers a 14 day cooling-off period, holds all money in an escrow account and who is willing to certify that the time being purchased is free of all debt.
5. Make sure you know what your annual management fees are and what exactly you get for this.
6. As an additional precaution, double check by ringing the management company that the seller actually owns the week in question and that all management fees are up to date.
7. Get everything in writing.
8. Take advantage of the organizations that allow you to exchange your timeshare slot so that you can holiday at other resorts worldwide. You have to pay a fee to join the organization and there is a handling charge every time you exchange. 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.
9. If buying a timeshare overseas (non US) make sure you fully understand the property and timeshare laws of that country and seek expert advice if you do not.
10. NEVER act on impulse or under pressure.
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