Do you love to travel but hate the rising costs of lodging? Sick of cramped hotel rooms and unpredictable home-sharing apps? Then a timeshare could be for you! With a timeshare, you can lock in a lifetime of future vacations at today’s prices. Moreover, you can stay in spacious, home-like accommodations and enjoy fun and relaxing resort amenities. Of course, as appealing as this may sound, there are some important factors to consider before you purchase a timeshare, including ownership type, whether to buy retail or resale, maintenance fees, financing, and more. Overwhelmed? Don’t be! In this blog, we’ll tell you everything you need to know about how to buy a timeshare. Let’s get started!
- How to Buy a Timeshare From the Right Brand
- How to Buy the Right Timeshare Subtype
- How to Buy the Best Type of Timeshare Ownership
- How to Buy a Timeshare: Retail Vs Resale
- Annual Maintenance Fees
- How to Buy a Timeshare From a Trusted Resale Company
- Buy a Timeshare With BuyATimeshare.com: A Name You Can Trust
- Rent a Timeshare and Try Before You Buy!
How to Buy a Timeshare From the Right Brand
Researching timeshare brands is a crucial first step in buying a timeshare. Different brands offer different locations, perks, accommodations, amenities, and price points. If you’re looking for a budget-friendly brand, Holiday Inn Club Vacations might suit you. If it’s family-friendly magic you’re after, you can’t go wrong with Disney Vacation Club. Want to travel the world? With over 200 resorts worldwide, Hilton Grand Vacations is a great choice for international travelers. Be sure to research what a brand offers before buying with them.
How to Buy the Right Timeshare Subtype
Generally speaking, timeshare is a form of vacation ownership in which multiple owners share a property and use it at different times. However, timeshares come in many varieties. Knowing the difference between these types of timeshares is essential before you buy, as certain subtypes work better for certain travelers. So, here’s a quick rundown of the subtypes of timeshares to help you pick the best one for you!
Fixed-Week Timeshares
When most people think of timeshares, they tend to think of the traditional fixed-week model. In this type of timeshare, owners enjoy usage rights at the same property during the same interval (usually one week) every year. This can be an excellent option for those who want to start an annual vacation tradition in their favorite location.
Floating Week Timeshares
The Floating Week concept allows resort owners to pick different weeks within a particular season or period. For example, if an owner purchases a floating week for the summer season, he or she can usually visit their unit during any available week during the summer. A floating week is more flexible than a fixed week but less flexible than our next type of timeshare.
Points-Based Timeshares
Today, most timeshare developers have moved away from the week-based model to a points-based, vacation club-style model. With a points-based timeshare, owners start by purchasing a home timeshare. Based on the size of the unit, popularity of the location and brand, and other factors, they will then receive an allotment of points equal to the “value” of their home timeshare. Owners can use their points to stay at their home timeshare, or they can use them to stay at a comparable timeshare unit in their club’s portfolio. If the desired unit “costs” more or less than their home timeshare, or if their annual travel plans get interrupted, they can bank or borrow points as needed. Points-based timeshares are ideal for travelers who want to visit different destinations or can’t travel every year.
How to Buy the Best Type of Timeshare Ownership
In addition to subtypes, timeshares come in different ownership types. And as with subtypes, it is essential to know the difference between the various types of contracts associated with each type of ownership.
Deeded Week Timeshares
With a deeded week timeshare contract, owners enjoy usage rights during a specific week at their resort. Deeded week timeshares are owned outright, so owners can sell, rent out, or gift their ownership as they see fit.
Right to Use (RTU) Timeshares
A right-to-use (RTU) timeshare does not have a deed, but it does have a contract that specifies how long the timeshare owner can use the property. Right-to-use contracts typically expire after 30 to 99 years. However, timeshare owners with a right-to-use contract can still resell their ownership on the secondary market.
Leasehold Timeshares
Leasehold timeshares do not last forever. With this type of contract, developers “lease” the land on which to build their timeshare resorts. Therefore, all leasehold contracts at that resort expire when the developer’s lease ends. In general, however, leasehold contracts give the buyer the same rights and perks as other vacation property owners. The most notable example of a timeshare company that uses leasehold contracts is probably Disney Vacation Club.
How to Buy a Timeshare: Retail Vs Resale
There are two ways to buy a timeshare: retail and resale. Each has its advantages and disadvantages. Let’s take a closer look at what each process looks like.
How to Buy a Retail Timeshare
Buying a retail timeshare usually involves taking a tour of the resort and attending a sales pitch. To entice buyers, resorts will often offer free weekend stays, during which prospective timeshare buyers will be assigned a representative to show them around the property and give them a timeshare presentation. After the presentation, the timeshare purchase is made onsite. This can be a good option for buyers who want to get first-hand experience with the brand, resort, and unit before they buy. However, a retail timeshare can cost hundreds of thousands of dollars.
How to Buy a Timeshare on the Resale Market
If you’re looking for a more budget-friendly way to buy a timeshare, then a resale could be for you. Buying on the timeshare resale market can cost thousands less than buying directly from the developer. Moreover, you can do it from the comfort of home. While this means you won’t get to see the resort in person, you can always rent a timeshare and try before you buy. Keep in mind, however, that developers often impose restrictions on resales. These can include exchange restrictions, VIP status restrictions, and more.
Finding Your Timeshare
The process of buying a timeshare on the resale market starts with searching for your preferred brand, destination, and resort. At BuyATimeshare.com, we make it easy. You can use our advanced search features to filter your results to your exact specifications!
Making an Offer
When you find the perfect timeshare resale for your needs, your next step is to make an offer. Simply use the easy, secure on-page form to submit your offer today!
Closing
Once your offer is accepted, BuyATimeshare.com will refer you to a trusted title company to handle the closing process. Alternatively, you can work with a title company of your choosing. Keep in mind that as the buyer, you will likely be expected to pay the closing costs, including title tax fees, deed recording fees, transfer fees, and commission. However, this can all be worked out in negotiations.
Financing Your Timeshare
Want to start vacationing now and pay later? Our partners at Vacation Club Loans can help you find timeshare financing that works for your needs. Enjoy fast online approval, low rates, and no prepayment penalty!
Annual Maintenance Fees
Whether you buy your timeshare on the resale market or directly from the developer, you must pay annual maintenance fees. These yearly fees cover things like resort upkeep, as well as renovations, staff payroll, and disaster recovery. They cost the same amount for resale and retail timeshares and tend to go up over time.
How to Buy a Timeshare From a Trusted Resale Company
When buying a timeshare resale, it is essential that you work with a trusted resale company. Unfortunately, however, the timeshare resale industry is plagued with scam outfits like exit and cancellation companies. One easy way to avoid these scams is to make sure whoever you’re working with is accredited by the American Resort Development Association (ARDA). Members of ARDA adhere to strict guidelines designed to protect the interests of resale buyers and sellers.
Buy a Timeshare With BuyATimeshare.com: A Name You Can Trust
With over a decade of experience in the timeshare industry, BuyATimeshare.com has helped thousands of buyers realize their dreams of timeshare ownership. And with accreditation by ARDA and an A+ rating with the Better Business Bureau, we’re a name you can trust. Click the link below to browse our complete inventory of timeshares for sale in our resale marketplace. Have questions? Call 1-800-610-2734 or email us at info@buyatimeshare.com and let one of our friendly resale experts clear things up!
Rent a Timeshare and Try Before You Buy!
Think buying a timeshare resale requires a leap of faith? Think again! Because with a timeshare rental, you can try before you buy. Our resale marketplace has timeshares for rent from top brands like Disney Vacation Club, Hilton Grand Vacations, and more. Browse our complete selection of vacation rentals at the link below!
