How to Buy a Timeshare Ownership – 5 Important Hints and Tips

Timeshare is a lot more extensive than people often think with quaint cottages being available in the wonderful countryside of Ireland, to Canalboats on England’s network of beautiful waterways and to the most five star, marbled foyer resorts across Asia to the gambling hub of the timeshare resorts in Las Vegas.

Timeshare is a truly amazing lifestyle product and is an overall investment into dream holidays. Everyone who enjoys holiday time simply wants more and more time to enjoy each year. Buying a timeshare ownership is a fantastic way to visit the World.

However as with any major purchase you should satisfy yourself with the product you are buying.

We have listed 5 important hints and tips below which will help you when you decide to buy a timeshare.

1. The single most important part to your timeshare purchase is to set your budget and stick to it. Don’t be talked into making a purchase at a price you are uncomfortable with or would make your finances feel overwhelmed each month. If you are buying your ownership using finance or a credit agreement be sure to check out the interest amount and be happy that you are capable of committing to the monthly payments.

2. There is a huge amount of different timeshare ownership on offer from fixed weeks, floating weeks, timeshare points and flexible ownership products. Make sure you investigate the best option for you. Ask all of your questions and ensure the product you decide to purchase does what fits in with your holiday schedule. For instance if buying points, make sure the amount of points you buy will get you the holiday you need at the right time of year. The same applies if you have young children, make sure your ownership can be used during the School holiday periods. Do not be afraid to ask the questions and get them answered. If in doubt ask for any finer points to be confirmed within your purchase agreement.

3. In The United Kingdom timeshare sales have to be offered with a full 14 day cooling off period when a purchase is made. Ensure that when deciding to make your purchase, that you have a period when you are allowed to change your mind. Again, if in doubt ask for the exact details and terms of this to be added to your purchase agreement. In all Countries across the World you should be offered some form of cancellation period.

4. The next bit of advise is to ensure you know the length of time the ownership lasts for, and how your ownership is registered. Some ownerships are for life often described “as in perpetuity” and some have expiry dates. There is also a type of ownership called biannual or odd and even time whereby you get to use your ownership every other year. Remember after you have purchased and have enjoyed the timeshare for many years you can then decide to sell your timeshare. Be certain to find out if you will be receiving a membership certificate or a warranty deed or title document and above all will there be any extra costs for the issuing of any of your ownership documents.

5. The final tip is all about maintenance fees or otherwise described as management charges. This is the annual levy made by your resort for the up keep of your ownership. Find out the amount this will be and realise that as with everything in life it will go up. Make sure this suits you and your families budget. Furthermore find out if the resort ever charge taxes, extra levy or special one off refurbishment costs. Some resorts have ownership committees who often meet prior to the yearly charges been drawn up. Find out if your input will help in this process.

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