About Secondary
Market Timeshares
You may have sat through a timeshare presentation during a vacation and have considered purchasing one. It sounds appealing and you are enjoying your vacation. The numbers seem to make sense but as the sales pressure intensifies you have doubts. Do the numbers really work out? The sales person piles more incentives to buy with special discounts for "today only." You are tempted but confused. Is this the best price? Another option if you decide that buying a timeshare is right for you is looking at the secondary market for timeshares. This option gives you time to thoroughly research timeshares and can often get you a much better deal than buy directly from the developer.
Types
When considering a timeshare to buy it is important to note that there are many different types of timeshares you can buy. Some timeshares are for a week or more each year. Others you can only use every other year. Some timeshares use a point system where you buy points which you can exchange for time while others go strictly by the week. Find out which type of timeshares best fits your travel and make sure you understand the differences in types. It can be very confusing especially when the salesperson is trying hard to make a sale.
Considerations
There are many factors to consider when deciding if a timeshare is right for you. First, determine your travel habits. You have to be able and willing to travel often to make the investment worthwhile. Look at your past travel history and see how much you have traveled and your lodging costs. Do you plan a similar travel schedule in the future? Compare the cost of a timeshare to determine if you will be saving money in the long run. Also see if this is a location you will want to travel to frequently in the future. Also find out how difficult it is to exchange into other locations if you wish.
Benefits
There are many benefits of buying a timeshare in the secondary market as opposed to buying directly from the developer. The most obvious is the cost savings. Developers may have less incentive to discount prices, but sellers on the secondary market may be more willing to negotiate. Sellers on the secondary market are often desperate to unload their timeshares for a variety of reasons such, as divorce or financial crisis, so bargains can be found for buyers.
Research
Before buying a timeshare on the secondary market, it is prudent to do thorough research. First, research the timeshare developer. You can get feedback from other owners on various Internet forums. See if the current owners are happy with the timeshare. Ask for honest feedback. If you are buying from an agency, make sure that it has a good reputation. Understand the fees that will be charged. Often hidden fees will pop up making the purchase less of a good deal.
Warning
There are many timeshare bargains you can find online on eBay or other online markets. Beware of scams which unfortunately are common with secondary timeshare sales. Find out as much as possible about the seller and their reasons for selling. Make sure that everything is legal and have an attorney review the sales documents. Make sure that you understand everything you will be signing.
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