Are you on a hunt for timeshares? Are you tired of listening to the lengthy presentations of timeshare companies? Here is the solution, buy a timeshare resale. Almost non-existent a decade ago, the timeshare resale industry is waking up to the call and catching up slowly and steadily. Timeshare resale takes place through classifieds, auction sites and also many reputed firms have joined this emerging market.

The primary reason to consider resale timeshare is that these properties usually cost 30%-50% less than new timeshare will cost. A lot of the cost of new timeshare is the result of advertising – indeed, sometimes more is spent on advertising than on resale! Resale, therefore, is a more economical option, but there are a few caveats to keep in mind when buying.

Do not believe on word of mouth if the seller tells you that the timeshare is in a great location. It is advisable to see the timeshare yourself or at least tell your friend or family member if they live close to the location to go and see it. Timeshare is indeed a great investment in your life provided you know you are buying a right one. And also consider things like whether the timeshare is in a high demand area and in close proximity to grocery stores, malls, restaurants and other amenities. And also find out whether there are any major attractions nearby. Also buy your timeshare in a prime season which gives you more options for exchange later on.

Also, don’t ignore the floor plan. Some units are converted from motels into timeshare units and, while some may be outstanding, some may turn out to be very bad. Look for a well-designed and well-planned unit. And also see if the units are well-maintained. If it’s clean and free from dust, structural damages and squeaking doors, it speaks a lot about the management. Well-maintained and well-kept units represent good management. This also adds to the value of the unit.

The low prices of timeshare resale overshadow the underlying cost sometimes such as maintenance fees, property taxes and if there is any special assessment this year. Clearly ask the seller if all these have been paid up to date, otherwise the price of owning a timeshare resale increases and makes it less worth buying. Also, buy a timeshare resale unit in a timeshare resort which has a low maintenance fee, as this is an annual fee.

If you are buying through a broker, do not fall into the trap of buying through an unlicensed broker. The timeshare industry has witnessed many scams and frauds related to timeshare resale. So always go to a licensed broker because they have much at stake compared to a non-licensed broker. Also, put the money in an escrow account until the time you get the timeshare unit.

The foremost important criterion is the price, so do your homework and research the prices of timeshare units in the area you are interested in buying. A timeshare is an investment for a better life. Keep in mind that the prices of timeshare resale units are as low as 30% to almost half the price of the new units. You can do the research on internet auction sites. If you are buying through a broker you can ask the broker to show a comparative analysis of prices.

Most people prefer to buy larger units. This way they will be able to host bigger gatherings of friends and family and even special events. With a larger unit, it’s also generally easier to negotiate an exchange if desired. Be sure to ask the seller why they are selling. They may be able to tell you specific gripes about the management or if there are certain things they dislike about the unit. By having this information you’ll be better able to judge if these same issues will be a problem for you.

Buy-Timeshare-Online.com showcases hundreds of Florida timeshare resales as well as timeshare resales around the world. If you’ve been thinking about buying a timeshare or just want to learn more, we’ve got you covered.

- Daniel Wright

This entry was posted on Wednesday, July 29th, 2009 at 6:07 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.