Timeshares work well for a certain type of traveler, but there are many things to consider before taking the plunge. A timeshare is a big commitment, and something you only want to enter into if you love the location and plan on visiting year after year. If you decide that you want to purchase a timeshare, there are several decisions you will need to make, aside from location and time of year.
Decide where exactly you want your timeshare to be. Remember, if you buy a timeshare, this will be the the place you return to year after year for your vacation, so you'll want to be sure it's a place you love and won't get sick of. You can get a good idea of where timeshares are available by looking on RCI, the world's largest timeshare exchange network.
Choose between fixed week timeshares vs. floating week timeshares. With fixed timeshares, you have use of the property for a set, specific time period each year. With floating week timeshares, you can choose the weeks you would like to stay at the timeshare in a given time period--this must be booked far in advance however, to ensure you get the time period you would like.
Choose between a deeded-or non-deeded timeshare. With deeded properties, you own a fraction of the property. Non-deeded timeshares mean that you are technically only leasing the timeshare. Deeded properties are similar to normal owned properties in that they can be passed down to family.
Choose the time of year you wish to travel. Most timeshare companies categorize timeshares in three different categories: high demand time periods, mid demand time periods and low demand time periods. You can find grids that will tell you when these periods fall during the year for each location on the site of the company you decide to purchase your timeshare from. The higher the demand, the more expensive it will be to purchase a timeshare in that period. Make sure that you purchase a timeshare for the time you will most likely be able to travel each year.
Make sure you get the best price possible. As mentioned, RCI is the largest timeshare exchange in the world, so start here to find timeshare prices for the area you want. You can also look into timeshare re-sales on sites such as SellMyTimeshareNow.com. If possible, pay upfront--this will help you avoid interest rates of 15 to 20%. Also, take maintenance and other fees into account by asking questions about this of the seller.
