Buying the right timeshare

What has buying the right timeshare got to do with maximizing your use of it? Plenty. Buying the right (for you) timeshare means you’ll be able to enjoy it more: it will be in the right season, good location, be with a quality company, have the amenities you like, and have good exchange power. Buying at the right price means it won’t be a financial burden and may allow you to add additional weeks from time to time.

Here are the maximizing timeshare factors for purchase:
v Start by making a list of the your family’s vacation/recreation preferences - what, where, who, how, etc. Don’t forget the practical questions – such as travel distance, proximity to family, and your travel budget. Involve the whole family. And think about other family or friends that may vacation with you.
v Location, location, location – that is the mantra for real estate. For you, location means the timeshare resort setting and community. Is it on the beach, in the mountains, desert or tropical, near other resorts, urban/rural, in a particular region or country? Pick a location that matches well with your interests. If you have an absolute favorite place that you expect to visit often, buy there. If you prefer a variety of vacation settings, then focus on resorts that have good trading power so you can more easily trade (aka exchange) into other resorts.
v Location within the resort. Many resorts have units in 2 or 3 view classifications. Prime views (for example an “ocean front” view at a beach oriented resort) are the most expensive but tend to trade better and they have higher resale value. However, if the view is not a big deal for you, then a week with lesser view is more affordable.
v Season – each resort has prime time seasons (when demand is highest) and off season times. Buy a week in prime season if you can, especially if that is your prime vacation time. It will be more expensive but will give you better value. You’ll be able to use it in the prime season. It will also give you better trading power and resale value. The timeshare or exchange companies can tell you about the seasonal demands – typically expressed as a color code - for each resort. But, remember to match the season with your own preferences. If you like the mountains in summer or walking the beach when the crowds are gone, then a less prime season may be a better fit for you. As a bonus, the off-prime season weeks are less expensive.
v Price. There is a careful balance between price and value. You usually get what you pay for. Be sure that you can afford the purchase. But don’t scrimp on price if it sacrifices your preferences. This purchase will be important part of your family’s vacation experience.
v Preparing to buy: here is the drill.
o Set a budget on what you can afford to spend or how much debt you can take on, if you finance the purchase. Know what the maintenance fees are; you have to live with those every year.
o Know your preferences on season, location, setting, etc.
o Decide if you want to purchase through a timeshare reseller or from the timeshare company itself. This will be the topic for a future message.
o If you attend a sales presentation from the timeshare company, talk and plan ahead of time. What questions do you have? Is the resort a good match for you? How you will decide whether to buy or not? Stick to your discipline. The sales presentation can create pressure (from the sales person or your own excitement) that is hard to resist without that discipline.

More next time about making the right purchase. Meanwhile, maximize your timeshare for family fun, enjoyment, and relaxation.