subject: Thinking Of Buying A Timeshare? [print this page] In no particular order, here are things to think long and hard about before venturing into the murky water of timeshare introductory programs, tours, or special offers.
What kind of accommodation are you looking for: family resort, luxury resort; mainly domestic or worldwide?
Do you want to visit your home resort at least half the time, in which case you probably should consider a deeded property, or do you prefer trading more than half the time, in which case, a "points" arrangement is likely better for you.
Is your lifestyle conducive to planning a year or more ahead? If you can't be sure you can get away from work on the dates you plan, you might find renting other people's timeshares (little notice is required) more satisfactory. Many timeshare arrangements involve the same week each year, or booking a year ahead to get the amenities you want and paid for. You'll also need to plan for an entire week at a time.
Are you locked into linking your vacation travel with school holidays? This presents a problem because many other timeshare owners have the same schedule, and there's not enough holiday to go around.
How many people do you usually travel with? There may be limits on occupancy, so if your family is large, you may need to purchase extra rooms or points.
When considering buying a timeshare, how much can you afford to spend upfront? Try to avoid financing, because you'll have maintenance fees each year. (And they'll come due right after Christmas, and you can expect them to increase annually.)
Are you easily frustrated by complications? There are lots of details to negotiate each time you plan to use your timeshare or points, especially if you want to take advantage of trades.
Do you understand if the thought of buying a timeshare turns into a purchase of a timeshare, you're probably stuck with it? It's difficult to sell or give away a deeded timeshare, but it's possible; you're locked in, if you buy leased shares, for the duration of the lease. That includes annual maintenance and future assessments for improvements, repairs and upgrades.
Are you willing to involve an attorney? The only safe way to be sure you understand every aspect of a timeshare offer is to have an experienced professional review the contract and explain the terms before you sign it.
