With so many horror stories and urban myths flying round the Internet about timeshare nightmares, it seems like a good opportunity to address some of the ways that you can protect yourself from joining those statistics, albeit a small percentage of timeshare owners. There are many ways that you can ensure that your timeshare experience is a positive one, as is the intention of the majority of timeshare operators. Take a look at some of the tips below and avoid any nightmare situations that might arise.
Do your research
If you are reading this blog, then this piece of advice is probably preaching to the converted. However, it is worth noting the importance of buying a timeshare from a reputable, established company. With a quick search on the Internet, it becomes very apparent if the operator is a fraudster or not. You can save yourself a lot of time, worry and money by looking up the company before you purchase. This is particularly important if you are buying from a small or emerging company that is selling pre-sale units.
Weigh up the benefits
Timeshare has a lot of benefits, from saving you money on future vacations to the size and comfort of the accommodations you can afford, nevertheless, it is important that you decide what is right for you and your vacation needs. Often the destination is a key factor in this decision: How cheap are the flights? Is it somewhere that will keep you entertained for years to come? Is the weather dependable?
Know your financial priorities
Only you will know what you can and can’t afford when it comes to a timeshare property, although most entry level units are affordable for anyone who has a full-time income. You need to assess what commitments you have in the future and think about potential improvements in your finances as you enter different stages of your life: career promotions, children leaving home etc. Remember, that timeshare is low risk with high returns in memories and pleasure.
Ask about future of maintenance fees
Many of the gripes about timeshare center around maintenance fees. Taking the time to listen carefully to the conditions of your maintenance fees when you purchase the timeshare can save you a lot of upset later on. You will want to know the terms for any future increments, whether they are aligned to inflation or are they capped in some way. It is important to note, however, that maintenance fees are essential for the upkeep of your property and should not be seen as a hidden expense, but one that is an integral part of your investment.
Avoid resale scams
Another nightmare associated with timeshare are resale scams. The key here is to avoid selling your property with any company who asks for money upfront to list your timeshare. It is always advisable to go with a real estate broker or through your operator.