If you are looking to buy a timeshare it is always wise to do your homework first. There have been reports of many unscrupulous sales techniques used by timeshare sales representatives and down the line it can leave the owners very unhappy. Here, at the Timeshare Consumer Association, we have listed a few do’s and don’t for you to consider before you purchase your chosen timeshare.
Do’s
Timeshare is a great choice for many people but, there are a few people that have fallen into the trap of buying timeshare when they are still in holiday mode. This is when you are in the middle of your holiday and enjoying the freedom from general daily life and decide to take the plunge. When in your holiday bubble it can sometimes be difficult to make practical decisions, so make sure you take into consideration what timeshare means in the long term.
Make sure that once every day reality hits. Are you are really going to get the full benefit of owning timeshare, are you happy paying yearly maintenance fees, are you able to use it every year (or as regular as your contract permits),etc.
Always consider if you will be happy taking your holidays in the same place each year. Although some timeshare agreements may let you take advantage of an exchange program. However, you can’t rely on this every time you fancy trying somewhere different.
Do make sure buying timeshare is something you can afford. Not only do you have to pay for your timeshare, you will then have to pay a yearly maintenance fee. The maintenance fee may also increase over the years.
It is always advisable to compare timeshare units in other resorts. The same size unit may be cheaper, or more expensive in a timeshare resort close by. By looking around you can also take into consideration what amenities and conveniences a resort has to offer.
Take advice from friends and family. They can have a more impartial way of thinking and may think of things that you haven’t.
Make sure that read and understand the timeshare contract you are signing, this way you can be sure that you aren’t agreeing to anything you aren’t aware of.
Don’ts
When considering timeshare, don’t purchase it believing that it will be a financial investment. It is highly unlikely to turn out that way.
Don’t always believe what a sales representative says. They are generally looking for a sale and there have been reports that sales reps will say just about anything they think a potential buyer wants to hear. Look out for sales people that answer a question with a question or try to skirt around certain subjects. If you have any doubts walk away.
Never pay anything in the cooling off period. Most timeshare contracts will contain a 14 day cooling off period, this is so that can carefully think things through without any pressure. If you are happy to then go ahead that’s great but you are also allowed to change your mind if you so choose.
To sum things up, timeshare can be a great purchase and many owners enjoy vacations year after year without any issues whatsoever but timeshare may not be for everyone. Always do your research and consider all the points mentioned above.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk