Buying A Timeshare

By: Veronica Davis

Before you go buying a timeshare there are some things that you need to be aware of. Perhaps you have already done all of your homework and understand everything buying a timeshare involves, but many times people are caught in a trap before they realize what has happened. This article will hopefully keep you on the right track while you are determining if timeshare sales are something well suited to you.

Maintenance

If you are able to find a great looking timeshare for the time of year that you want, and are ready to fork over enough of your hard earned cash to cover the purchase price, be aware that the cost doesn't end there. Have you thoroughly researched the maintenance fees that will be associated with your purchase? Maintenance fees are a sum of money that you will have to pay to the company each year to manage and upkeep your timeshare. Some companies are very competent and straight forward about how your maintenance fee will be used, but other times you may have to bring it up. Ensure that the company's timeshares are well taken care of, and are upgraded to keep up with the current trends and features. A good company will use the maintenance fees to keep your timeshares up to date, and to replace such things as furniture and appliances every few years.

Exchange Companies

Another aspect of buying a timeshare that you should know about is exchange companies. Exchange companies are another potential expense for you. Further down the road you may find yourself getting bored of your timeshare. Exchange companies can help you find another timeshare to exchange yours with, but it will cost you. You are normally required to subscribe to the exchange company which can add another hundred dollars or so to your annual expenses of owning a timeshare. You can also have the exchange company search for a timeshare that you would like to exchange with, and yes... that service will cost you another fee.

Timeshare vs. Vacation Home

Although a timeshare may not necessarily be the best choice if you are looking for an investment, there are situations that buying a timeshare could be a very positive decision. Suppose you want to own property so you can vacation there. Look at the cost of a nice vacation property and you'll see that it can easily run you hundreds of thousands of dollars. Buying a timeshare will only cost you a fraction of that, but you also continue to pay. It basically boils down to if you can or want to spend such a large sum up front for a vacation property, or not. Don't make the mistake of buying a timeshare only because it's cheaper if you won't be able to afford the ongoing expenses that come with them.

If you want to be able to relax in an upscale vacation spot for weeks at a time, buying a timeshare isn't your only option. You are just as easily able to rent them without obligating yourself to the expenses that come with buying a timeshare.

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