Never Buy Timeshare While on Vacation
12/30/2009
Just picture it. You are at your ideal vacation destination. You are relaxed and soaking up the sun while wiggling your toes in the sand, or skiing the fresh powder on your favorite slopes, or enjoying 18 holes at your favorite golf course and you decide to put some time aside and attend a timeshare presentation. You love the resort and it seems like a good fit with your lifestyle so you can’t see any reason not to sign on the dotted line, right then and there.
Well, think again. While you are at your most relaxed on vacation, you are not in your best business mindset to make such a large financial decision, and the resort developer is counting on that. Even though you love the resort and are ready to make a timeshare purchase, you need to take a step back and think it through without the distraction of being right on the property. Don’t get swept up in the luxury and relaxation the beautiful resort has provided. Do yourself a favor and sleep on it once you are back at home.
The best way to buy a timeshare is on the secondary market. Buying a timeshare resale will help you save money (potentially up to half as much as the developer would charge). Follow these steps for a successful timeshare resale purchase:
Well, think again. While you are at your most relaxed on vacation, you are not in your best business mindset to make such a large financial decision, and the resort developer is counting on that. Even though you love the resort and are ready to make a timeshare purchase, you need to take a step back and think it through without the distraction of being right on the property. Don’t get swept up in the luxury and relaxation the beautiful resort has provided. Do yourself a favor and sleep on it once you are back at home.
The best way to buy a timeshare is on the secondary market. Buying a timeshare resale will help you save money (potentially up to half as much as the developer would charge). Follow these steps for a successful timeshare resale purchase:
- Research: Do your own online research to be sure you are getting the week and unit size that’s best for you.
- Get Advice: Connect with other timeshare owners in online timeshare forums to ask questions about the resort you are considering. They will tell you pros and cons.
- Tax Deductions: Discuss your purchase with your tax professional BEFORE you get a loan. He can tell you how to get the maximum deductions.
After all of the horror stories one hears about, this is the best advice I've ever read.