Looking into buying a timeshare? Hold that thought.
I know what you’re thinking. Big city, big lights! Or maybe — a relaxing beach vacation, right in my back pocket!
Salespeople for timeshare developers are excellent at painting the big picture for you, but can they tell you everything you really need to know before you take the plunge on such a big investment?
Timeshares are a huge commitment that can be difficult to get out of if you change your mind down the road. If you’ve got your eye on timeshares for sale, keep reading for a couple things to think about before you make that deal.
The Reseller Market
The timeshare market isn’t all that different from the car market. When you drive one off the lot, it depreciates the instant you hit the road.
Now, maybe that doesn’t make a difference to you — and that’s okay if you’re that person. Some people like to buy new, plain and simple.
If you’re someone who likes to spend time searching for a better deal, keep in mind that there is a very large resale market for timeshares. Like cars, timeshares don’t go up in value — they go down.
Once a timeshare purchase isn’t working in someone’s life equation anymore, they opt to sell their time, or in timeshare lingo, “points.” Think: someone who bought a Disney timeshare when they had a newborn, but 15 years later, their kid is grown, and their money is being wasted.
The Timeshare Users Group, or TUG, offers a reseller marketplace where you can browse timeshares for sale or post your own. Consider how much you can save by picking up where someone left off.
They Can Be Tough to Get out of
There are significantly more ads in the reseller market for sellers, not buyers. Why do you think that is?
When you buy a timeshare, you’re required to sign a binding legal contract for your responsibility. These contracts, like any others, include complicated legalese and aren’t easy to get out of without professional help. Selling your timeshare is nothing like selling your house.
It can be so difficult to figure out what to do with an unwanted timeshare, the language revolving this problem is usually escape related, giving advice about how to “bail” or “get out from underneath” your timeshare.
Companies like Primo Management Group specialize in cancellation of timeshare ownership. If you don’t want to deal with the hassle of the reseller market, it can be worth it to invest in an expert service to help you recover your maintenance fees.
Timeshares for Sale — The Lowdown
Timeshares can be a great way to guarantee that you take your family on regular vacations. Time off can be hard to come by, and if you fall in love with a destination, it might make sense for you to return.
Just make sure you do your homework. Now, if you’ve done your research and you’re ready to get your vacation on, start shopping for flights today!