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How do I Choose the Best Timeshare Property?

Article Details
  • Written By: Amy Hunter
  • Edited By: Andrew Jones
  • Last Modified Date: 14 November 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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Choosing a timeshare property can be intimidating. Investing in a timeshare is a big commitment, and one with long lasting ramifications. Once you make the decision to purchase a timeshare, however, there are several things to consider that will know for certain that you are buying the best property for your needs.

Find a location where you will enjoy vacationing year after year. If you prefer visiting new spots each year, a timeshare property may not make the most sense. If, however, you have vacationed at the same beach for ten years and look forward to going back each year, you may want to consider a timeshare in the area.

You should ask several questions before signing any papers. The first is how much the timeshare investment will actually cost. Costs include the actual costs of the timeshare property, as well as annual maintenance fees, and potentially other service fees. Insist that all expenses and conditions be laid out up front.

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Next, find out which weeks the timeshare is available. No matter how much you like an area, it is important to make your decision based on the availability of the property and how well it meets your schedule. There are two basic types of arrangements with timeshares. With a fixed week timeshare, you will have access to the property for the same week each year. With a floating week reservation, you will make reservations for the property, along with all of the other owners. There are advantages to each. With a floating week, you can make reservations for any time of the year, but you have to make arrangements early to ensure that the prime weeks are not gone.

The type of ownership conveyed is important as well. A timeshare property that you purchase as a deeded ownership is the same as purchasing any other piece of property. While there may be thirty or more co owners, you receive a deed, and the week of use is yours to use, sale, trade, and, when you die, will to someone else.

A right-to-use ownership is similar to a lease. The rights to the property extend a particular number of years. At the end of that time, you will not own the property, and will not have gained any equity. Additionally, someone may sell you a right-to-use ownership that they purchased ten years ago that is a fifteen year right-to-use ownership, leaving you with only five years to use the property.

Once you have the answers to all of these questions, and are sure you understand the benefits and limitations to the timeshare properties you are contemplating, it is easier to determine which timeshare property is the best choice for you. Avoid any company that seems reluctant to answer your questions. Timeshares are not in short supply, and finding one with a reputable sales staff should be difficult in most locations.

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