Timeshare Buyer FAQ

Timeshare Buyer FAQ Related Information:

What is timeshare?

Timeshare is an innovative concept that gives purchasers part ownership in a vacation property through the allocation of time. The purchaser buys a share of the time at a particular resort, so you could buy two weeks a year (at your chosen time) at a timeshare property in a particular destination. You can also exchange your week or weeks when you want to visit a different resort, with thousands to choose from through timeshare exchange schemes.

Why buy a timeshare when I can stay in a hotel?

There are many reasons why timeshare can prove far more enjoyable and effective than staying at a hotel. You can enjoy a choice of properties when looking at timeshares, and you can enjoy more space, more privacy, and better amenities. Your vacation will be more like a home from home, and you can recoup the money you spend on your timeshare within a number of years, making your stay free once the money has been recouped.

What do I need to consider or do to buy a timeshare?

There are a number of considerations that you have to take into account. You must decide where you want your timeshare, and remember that you can exchange your weeks from year to year through the timeshare exchange scheme so you won’t be committed to visiting the same resort for the rest of your life. You also need to decide what type of property you want to buy into, as well as the time of year that you want your timeshare (remember that peak time weeks will be costlier than off peak times).Once you have thought about what you want from your timeshare, you should contact a timeshare realtor for further details.

Is timeshare classed as an investment?

Yes and no. It is unlikely that, if you sell your timeshare, you will get back what you originally paid for it. However, if you tend to vacation every year, you can recoup the money that you spent on your timeshare within a number of years, and once you have done this your future stays at the timeshare will effectively be free (as you would still be paying out for accommodation if you were staying at hotels). You can leave deeded timeshare to kids or loved ones in your will, and you can also resell you timeshare, which could be an investment if you have more than recouped your initial layout through saving money on hotels over the years.

If I cannot stay in my timeshare for any reason, can I rent out my time?

With some timeshares you can rent your weeks out if you cannot make your weeks for any reason. However, this is something that you should verify when you take out your timeshare.

Can I get financing for a timeshare?

Some timeshare companies can arrange finance deals on timeshare for you. Before you make any commitment, however, it may be worth looking into personal loans or other forms of financing to see whether this may work out cheaper on a monthly basis.

What if I cannot afford my timeshare any longer or am too ill to travel any longer?

Many people that can no longer travel or experience financial difficulties sell their timeshares, and this can be easily done through re-sales. You are unlikely to get back what you initially paid for it, but if you have already been using it for some years you may already have recouped the layout through the savings you have made on vacation hotel costs.

Where can I buy timeshare?

You can get timeshares all over the world these days, from the beaches of Spain to the fun-filled resorts of Florida. So, whatever your taste in destination you can get a timeshare to suit your needs. And don’t forget – if you fancy a change of scenery one year you can use the timeshare exchange scheme to visit another resort or country for a change.