There are many timeshare units for sale on the market right now. If you do a search on the Internet, you can find people desperate to sell.  So are timeshare sales from owners a good deal or a scam?

Our timeshare unit has been one of the best things we ever purchased, but we did our research first. And then we did miss out on one fantastic opportunity because we didn’t do our research and hesitated. That will always be remembered as the one that got away. So if you want to make the right choice in buying a timeshare vacation unit, please consider the following points.

You can buy a timeshare vacation unit from an existing owner for a great price. This is because the resale market is very hard. Realtors don’t make a lot on a timeshare sale, so they put it at the bottom of their priorities. Those places which specialize in timeshare resales demand a hefty sum from the seller. It is better for the seller to go private and give you a great deal. The important thing to remember though is that you must love the specific place and time you are buying. Do you love Whistler BC ( site of the 2010 Olympics)? Great, but how about Whistler in October? Pretty mushy and rainy. Also find out about any special levies on the property and whether you actually hold title. Actually, buying from an existing owner can take more diligence than from a company. Still, the deals are out there for the brave.

This may be the best time to get a great deal on a private sale of a timeshare. We have attended many meet and greets at various timeshares. Over the past few years there were many people who were buying multiple weeks and properties because of the easy credit and inflated valuation of their homes. Now these people need to sell fast. I met a guy who came up to Whistler once a year, but had six extra weeks in different resort properties as well. He has a family with 3 kids, so it is not like he was planning to trade them. He was planning to rent the timeshare units and sell when the value increased. Poor guy.

Timeshare rentals only benefit the property management company. Period. I could go on, but that is the bottom line. Timeshare vacation properties seldom go up in value. Check your paper or an auction website and bid low.

So why buy a timeshare vacation property from an existing owner?

Because of the following reasons:

• You can get a great price on a timeshare from an owner who just wants to get rid of his headache or has a change in his lifestyle.
• If you pick a place close to you, you can use the facilities year round ( it is called rubber traffic)
• The company who manages the timeshare usually has great specials on other places and trading programs.
• Timeshare properties usually give you more amenities and luxury than standard hotels.

 

So do your homework, investigate every aspect of the timeshare unit. Put in disclosure items in your sales contract. Buy close to home. And bid low…Like mom used to say, “You can always ask!”.

Oh yeah. That timeshare I should have bought? New York’s first Manhattan timeshare. Right across from Carnegie Hall. Dumb Dumb Dumb!

Colin Noden http://practicalanswers.blogspot.com/ My mission is to find the best practical help in a wide variety of areas. If you are looking for something and have been frustrated in your search, I would be happy to help.

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Do you feel stuck in your timeshare property? Not able to use it when you want or to trade it for a different location without a hassle and costing you more money? If you purchased your time share 25 to 30 years ago you have paid $500 to $700 a year maintenance fee to vacation at that same time share, for your purchased week or weeks for all this time. If you have owned your timeshare for 25 years you have paid a maintenance fee (at a minimum of $500 to $700 per year)of$12,500-$17,500. For 30 years $15,000-$21,000. Do you really think you bought into a good deal?

You are probably wondering “what did you purchase?” Especially now if you are trying to sell your timeshare because you are not able to travel but are still stuck with the monthly maintenance fees. You thought with paying $15,000 to $20,000 upfront for your timeshare that you would not have to pay any thing more for your vacations for life. We felt the same way. But, that timeshare you invested in needs maintenance and upkeep over the years and all the people who bought into this have paid over and over again. On top of the maintenance fee you have the extra cost of air fare or if you can drive to your destination, you have fuel prices to include in the costs and they are a lot higher than they were years ago.

Times have changed. With the down economy now in 2010, that Time Share that you have been supporting for all these years, ask yourself this, is it still the 4 or 5 star resort that you bought into? Or does it look tired each year you visit? Has it not been upgraded even though everyone who purchased there so many years ago and paid their maintenance fees, what have your maintenance fees been paying for? The interior upgrades, maybe to the building itself ie: the roof, exterior painting or plumbing, electrical updates or the landscaping of the resort which also cost money. I have a friend who has a 2 week timeshare in Hawaii and has been going there for 25 years. She returned recently from her trip and said that the location has not be upgraded in years. The furniture is old, no flat screen TV, the kitchen is outdated. I asked her “What is your maintenance fee paying for?” She replied “I don’t know.”

Would you love to travel when you want to. No more having to reserve your timeshare a year in advance or trade your time for another location. Life is unpredictable and in a year things will change and the ability to get away for your designated week may not happen. You have paid the maintenance fee for the year but if you do not use your week you do not get a second chance at another time. You just forfeit or bank that week but you did not go on vacation even though it just cost you $500-$700 in fees.

That same timeshare is now being used by a new generation of Travel Club Members. They, unlike you, only pay a one time, lifetime membership fee of $3000 and no monthly fees. They have access to over 5000 resorts, discounted cruises, hotels, air fare and car rentals for the rest of their life. They can also will this membership to their children and not have to try to sell it. If you are trying to sell your timeshare, you are probably having a tough time getting rid of the albatross.

With a Platinum travel membership, the only upfront cost is a one time investment of $3000. You can invite your friends or family to take 3 weeks of vacation each year as a guest on your membership and you do not need to be with them. They are allowed to travel at your discounted rates, whether it be a land resort or a cruise, it does not matter. Can you do that with your timeshare? If you cannot go that year, you could give your week to your kids and just ask them to pay the maintenance fee that you incur or let them use your timeshare week, forgiving the fees so they will be able to cover the other expenses that go with the vacation, ie: air fare, gas, care rental, food, entertainment. With a travel membership your guests pay for the week at the same discounted price that you as a member of the travel club would have paid. Yes they have to get to their destination but with a 70-80% savings on the lodging, the other costs are almost covered in the saving in most cases.

Now you may be thinking, that sounds like a great vacation deal but I still own my timeshare. No problem, with a GRN Travel Membership you can list your timeshare week on our site to rent to the other travel club members. They can rent your location from you directly and you at least recoup some of your yearly investment. At the same time, with your club membership, you can now vacation as many times a year as you want, no limits, with over 5000 different choices to pick from. A travel club membership offers unlimited vacations, no black out dates and prime hot week specials on hundreds of locations and cruises with as little as a 3 day notice to book your vacation.

If you are considering the purchase of a Time Share, do your homework and check out the Travel Club Memberships. Weigh the Pros and Cons of each. timeshare vs Travel Club Membership is a lifetime decision.

Thank you for reading my article. My husband Mike and I love to travel. We owned a Timeshare in the past and found it restrictive and expensive, but our Travel Club Membership allows us much more freedom to travel when we want to and spend that saved maintenance fee on the fun things we do on our trips.
For more information on the benefits of a Travel Membership go to http://globaltravelerreview.com

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