Important Tips When Considering Purchasing A Timeshare
Timeshare advice from those who have been involved in the industry or have purchased a timeshare themselves is your greatest asset. Consumers seek advice when making most major financial decisions, yet it happens much too rarely in the timeshare industry. While most timeshare advice will simply tell consumers to stay as far away as possible from timeshares, if you are truly considering moving forward, there are a few simple tips that can greatly reduce the possibility of making a costly mistake.
This piece of timeshare advice seems very counterintuitive to those who have recently become interested in the subject. This is because the entire industry generates timeshare owners by offering luxurious gifts or vacations just to hear the timeshare presentation. It is a good bet that you are reading this because you have been made such an offer. If you are truly attending the presentation for the gift alone, you should become well acquainted with the hard-line sales tactics, misleading information, and intense nature of these presentations. Under no circumstances should you be pressured into making a major purchase under duress, and you must be prepared for this.
However, if you are truly considering purchasing a timeshare, the best advice is to do your homework from the comfortability of your own home. All the information you need about timeshares or a specific timeshare company is available online. Attending a timeshare presentation will not increase your knowledge of timeshares. In fact, it will likely fill your head with half-truths and incorrect notions about the nature of timeshares. The first piece of timeshare advice is to never attend these notorious timeshare presentations.
2) Know Yourself, Your Financial Situation, and What You Are Purchasing
This is a good piece of advice for any financial decision or purchase, but is especially true for timeshares. You must first decide if the decision is correct for you and your family. How often are you likely to use the timeshare? Do you truly love the location and unit? Making a rash decision without asking these questions can be devastating.
Can you really afford the expense? This includes every hidden fee, all maintenance costs, and any future developments. This is critical timeshare advice, and ignoring it gets people into a lot of trouble. Remember, the timeshare is almost always a lifestyle luxury, not an investment.
Finally, read every single word on that timeshare contract. This piece of timeshare advice cannot be stressed enough. Know exactly what you are getting yourself into. Is this a deeded or non-deeded timeshare? Is this a single unit or complex? Is this a floating or fixed time agreement? Asking the right questions, all of them, will help you make a well-informed decision.
3) Do Not View The Timeshare As An Investment
This timeshare advice can vary based on each situation, but the overwhelming majority of timeshares will never become a money-making tool. Only in a few situations is this possible, and it is likely that your timeshare purchase will become an extravagance that can wreak havoc on your finances. Do not believe the hype that timeshare salesmen preach at their high-pressure timeshare presentations. They are not there to give you genuine timeshare advice, they are there to make a profit. Timeshares depreciate in value over time and the market for timeshares is extremely depressed. If you are looking for a money-generating investment, the best advice possible is to look elsewhere and stay as far away from the timeshare industry.