How to Avoid the Most Common Timeshare Ownership Mistakes at All Costs

The timeshare industry in the United States has an $11 billion value. It’s likely that you’ve had some timeshare salespeople come up to you trying to sell you a good deal if you’ve ever been to a popular vacation spot. 

These properties can add to your life, but you need to enter the deal the right way. There are some timeshare purchasing and ownership mistakes that you need to avoid at all costs. 

Keep reading to learn more about these timeshare ownership mistakes and other important information. 

Step Away From The Pressure

Many people associate timeshare salespeople with pressure. They have their sales pitches down and are often aggressive in their approach. 

This is their prerogative, but you need to look out for your interests. Take time to step away from the pressure to make your decision. 

There are also some telltale signs you should be aware of when you’re hit with an aggressive sales pitch from a timeshare salesman. Be on the lookout for one-side questions, areas of vagueness, loads of jargon, and other red flags. 

Take time away to hear your own voice and to do whatever research you need. 

Do Painstaking Research And Call A Lawyer

Before signing a contract, research as much as you can about timeshare ownership, the company selling the timeshare, the vacation area, tax and finance information, and other points of information. 

You should also know ahead of time how to sell your timeshare so that you go in with an exit strategy. Take a copy of the contract with you so that you can read through it in detail. 

Forward the contract to a lawyer that can also assist you with the decision. This way, you’ll have peace about the deal and will be up to speed on all of the clauses included. 

A real estate lawyer might charge you $2,500 and up for their services, and it’ll be money well spent. 

Choose A Place You’ll Love To Vacation

Many buyers get caught up in the timeshare property and forget about the vacation spot. Never buy a timeshare somewhere that you wouldn’t want to vacation multiple times per year for the next several years. 

Examples of vacation destinations where you might want to buy a timeshare include Daytona Beach, Myrtle Beach, Williamsburg, Colorado Springs, and Miami. 

Always Take Time To Negotiate

Buyers also overlook their right to and benefits of negotiation. Never sign a deal with taking plenty of time to go back and forth on the price and other terms of the deal. 

Make sure to improve your negotiating skills prior to coming to the table. You’ll be more prepared and likely to get a quality return on investment (ROI) from your timeshare. 

Focus On Competent Timeshare Ownership

Timeshare ownership can be a huge plus in your life when you follow the tips above. Now that you have these tips, use them so that you get the best deal on your new timeshare. 

Look into our other articles so that you can learn more about business, finance, travel, real estate, and other points of information. 

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