What to Consider Before Buying a Timeshare

Timeshares are quite popular and give people the opportunity to plan vacations on a regular basis. Still, there is a lot to know before actually purchasing one. Dean Graziosi has provided some useful information that will help you decide whether a timeshare is right for you.

There are a variety of different timeshare programs available. Many are set up so the owner can buy time, maybe one week or so, at a specific place. This is done on a points system where the purchaser accumulates the points and spends them as desired. There is typically an annual maintenance fee and perhaps a small fee that goes to the vacation ownership cooperative. This cooperative makes up the group of resorts where the purchaser can then stay upon going on vacation at the particular location. Real estate taxes would also be involved. Timeshare points could then be exchanged through the immediate circle of resorts that were considered members.

So are timeshares a good idea? This depends on several different factors. The first rule of thumb when purchasing and using a timeshare is to plan ahead. Know when you will be taking your vacation and begin to plan for it well in advance. That way, you shouldn’t have too much problem getting a great place to stay when you want it. Prime weeks at a prime location typically require the owner to book eight to 12 weeks in advance. Certain times of the year, like Christmas for example, might even cost more money.

Not all timeshare programs include rollover points. Here you would lose what you do not use. You may be able to pay extra and turn your points into an account with the particular organization or program, but you may not be guaranteed this either.

If you always want to stay in the same type of vacation rental, a timeshare may not be for you. For example, if you want a condo on the beach and you want to always be guaranteed you will get to stay there whenever you go on vacation to a particular place, you may not get that with a timeshare program. While it may be possible to stay in a condo much of the time, you might also have to choose rooms or other types of vacation rentals like suites. It all depends on what’s available at the time of your vacation. Again, booking well in advance can make a big difference in what you actually get, but again, there’s no guarantee.

Timeshares may be preferable to those who plan to travel to the same spot frequently, but as an article posted by CBS News suggests, you can probably take a vacation for less money each year than you would actually spend on a timeshare.

So should you purchase a timeshare? Look at all the options available before making this decision. Know what you are getting into and what all it will entail. You can read more about real estate by visiting Dean Graziosi’s website.

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