Choosing a Timeshare

LOCATION, LOCATION, LOCATION

You’ve heard the phrase that us Real Estate people use. There are only three things that matter in real estate…Location, location, and location. The same is true in timeshares. Now pay attention ‘cause this one’s important. If there’s one mistake we see people make it’s this one: Many first-time purchasers purchase a red week thinking that they can now exchange for any red week in the system. WRONG. In addition to the color of the week you own (let’s cut to the chase, buy red time and forget the rest), there’s another factor that makes the system fair. You not only will exchange red for red, but also the location you own will determine the location you get. Own a nice red week, but it’s in the middle of nowhere? Don’t expect to be getting London or the Caribbean. The best locations get the best locations. Otherwise, why would anyone in their right mind spend the bigger bucks for the really nice places when they could buy something of lesser quality and exchange into the better ones?! See, told you this wasn’t rocket science.

Top locations for trading are Hawaii, Orlando Florida, and the Caribbean. Best islands in the Caribbean include Sint Maarten, St. Thomas, Aruba, and tha Cayman Islands.

TO DEED OR NOT TO DEED…THAT IS THE QUESTION

You know you want to purchase a good location. Now-- what am I buying? Well, in a lot of cases your timeshare will be deeded to you, similar to your home. You may also purchase a timeshare that is a long term lease that you will have for a fixed number of years. Each has it’s good points and neither one has an outright advantage over the other. In many instances, the local custom or laws will dictate which way you purchase. With both, you will have lots of options. Let’s say for instance that a year comes along and you just can’t use your timeshare. Now what? Well, not to worry. You can: A) Let a friend use it B) Get greedy and rent it to your friend, or whomever. C) Call up the exchange system and do half of an exchange (give them the week for someone else to use, but do not request something in return. You’ll have two years to call back and get that vacation at a more convenient time. This means you can save up, or stack vacations). Other types of plans involve floating time vs fixed time, and fractional membership and points. We’re going to skip these last ones for now. They’re more minor points and we’re going to keep it simple here. Call us with any questions.

If you are unsure about the value of a resort or location, call Island Consulting at 1-800-809-6020.

Buying from the resort vs. buying resale timeshares