Most people have heard of timeshare and unfortunately some choose to focus on the bad things that they hear in the press. If you are interested in owning timeshare it is always worth weighing up all the factors before making the purchase. Here at the Timeshare Consumer Association we have detailed some things for you to consider so you don’t start regretting your purchase down the line.
Do Your Homework
Making the commitment to purchase timeshare is quite a big deal, so make sure you do your research before signing up for anything. Take the time to look into different timeshare companies and resorts to see what each one has to offer you. Knowing what you want to get out of timeshare will help you when it comes to attending a timeshare presentation. You will be less likely to fall for the high pressure sales tactics if you know what specifics you are looking for.
Take A Look At Your Travel Habits
The last thing you want to do is jump into buying timeshare if you think your travel habits are likely to change in the future. Children can seriously change how you take your holidays, whether it be just starting a family or as they get older, not wanting to go away with mom and dad anymore.
Another thing to consider is where you want your timeshare to be and what type of timeshare product you are going to choose. If you are happy going to the same resort, in the same country, year after year, timeshare may be just what you are looking for. Even if you think that you would like to explore a bit more of the world you can look into the various exchange programs that different timeshare companies have on offer. Depending on the country you initially choose to purchase timeshare there may be the option to be part of a points system.
Look Into Buying A Resale
As long as you use a reputable company, buying a timeshare resale could save you a considerable amount of money. As with any industry you may come across a less than credible company, but there are legitimate companies out there whose main focus is to resell timeshare that current owners no longer want, so do your homework.
Maintenance Fees
Maintenance fees are something you will have to pay on a yearly basis. The reason for maintenance fees are to cover the cost of operating and maintaining the resort and it’s facilities. Be aware that there is a high possibility that they could increase at some point, some owners report that they have incurred yearly increases. When looking at buying timeshare you need to make sure that you a fully committed and are able to financially afford these fees.
Be On Your Guard
You need to be aware of scam artists, the timeshare industry has it’s fair share. Read through any paperwork that you are given before signing anything. If there is anything that you don’t understand make sure you ask questions and if you are not satisfied with the answers given then maybe that isn’t the right timeshare for you. Never feel pressured to do something you feel uncomfortable with. If you are dealing with a reputable company they will accept that you need some time to think about things.
See our recent post regarding warnings from Trading Standards.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk