Although the economy seems to be getting harder for most Americans, taking a vacation is still a central part of the American lifestyle. In the summer of 2023, for instance, about 85% of Americans planned to take at least one vacation.
It's this love for vacations that has given rise to the timeshare industry. In a nutshell, a timeshare gives you fractional ownership of a vacation property. With timeshare ownership, you don't have to worry about booking hotel rooms; you simply pack your bags and leave.
However, timeshare buyers like you need to be wary of many things before splurging the cash. You especially need to focus on scoring a great deal.
Read on to learn how to go about it.
Timeshare properties aren't created equal. From size to location to cost, many variables can make one property more attractive than the other. This is why having a good grasp of what you need in a timeshare property is key to getting an awesome deal.
Start by identifying where you'd like to vacation. If you love the beach life, for example, you likely need a beach or sea-front property.
Next, look at the size of your family. If you're a big family, you need a property that can comfortably house everyone. And if you're alone, a smaller property will suffice.
You must also know your budget. Buying a timeshare is cheaper than buying a sole-owned property, but it's still a big-ticket expense. Knowing how much you can spend helps you zero in on affordable properties.
Big hotel chains like Hilton and Hyatt are in the timeshare business, as do several other private organizations. However, if you've stayed in one of these big hotels, you might have received an invitation to a timeshare presentation.
Most people shun these invitations because big hotel chains are known to be pricey. You don't want to spend an arm and a leg on a timeshare.
But, these presentations can bring you an opportunity to grab an irresistible deal. The hotel could be offering a massive discount to new timeshare owners, for example.
Still, don't rush into making a purchase even when the deal is amazing. Take your time to assess the property, and if it's a family timeshare, bring everyone along so that you can get their views.
There are several timeshare selling companies, but just like the properties they sell, they aren't created equal. A reputable company can find you a great deal, while a shady company can rip you off your money.
Research various timeshare selling companies and find a few that you can trust to get you the best deal. Be wary of companies that start showing you what they're selling without even asking about your needs first.
Some timeshare buyers make purchases they end up regretting because they don't do enough due diligence. You'll only have yourself to blame if you don't approach the market with caution. Most importantly, follow the tips we've outlined for you.
Now you can hit the market with confidence, but keep coming back to our blog for more helpful content.