How to Buy a Timeshare
- Enjoy vacationing every year in your favorite location, guaranteed. Never have to worry about the rising cost of accommodations.
- Visit destinations all over the world with the flexibility of various exchange options.
- Save money on your vacations when you buy a timeshare on the resale market for less.
Does timeshare ownership sound like the perfect solution for your vacation needs? Start the process of choosing your ideal timeshare today by browsing our inventory of timeshares for sale or give us a call at 1-866-430-4384.
Buying a Timeshare
A lifetime of great vacations is just around the corner. When you buy a timeshare resale, you aren’t just buying a place to vacation. You are buying rest, relaxation, and time with your family. Owning a timeshare provides stability, consistency, and flexibility for a variety of vacation experiences, without having to worry about the resort accommodation cost inflation.
Buying a timeshare can be a tough decision, but we’re here to help make you a knowledgeable buyer so that you can be confident in your purchase. When you buy on the resale market, you can rest assured that you will pay a fair and affordable price. Owners advertise their timeshares at prices up to 70% off resort rates, so you will have no problem finding a deal that fits your budget.
How to Buy a Timeshare
Buying a timeshare on the resale market is easy and affordable. Just follow these simple steps and you’ll be on your way to a lifetime of great vacations.
- Spend some time thinking about what you are looking for in a timeshare and how much you are willing to pay.
- Browse our inventory to find the timeshare that fits your needs.
- Make an offer on your desired timeshare. It is possible to negotiate with the owner on the final selling price, so keep in mind the listing price isn’t set in stone.
- Once a price is agreed upon, we will get you in touch with a licensed closing company to help make the sale legal and final.
- Once all the paperwork is signed and completed, it’s time to start enjoying your new timeshare and all the vacation benefits and memories it will provide for you and your family.
If you are not sure you want to own, you can also consider renting a timeshare. Renting will allow you to visit a unique vacation destination every year, experience different resorts, and provide great flexibility.
Timeshare Buyer FAQ
What should I look for when buying a timeshare?
If you want to buy timeshare, first consider your own situation—what do you want? What can you afford? Consider the season, what types of accommodations you need, and the location. It is also important to think about ownership rights, maintenance fees, and how the timeshare is managed. It may help to talk to one of our professionals, who can give you additional information specific to your situation.
Can I get financing for a timeshare?
Yes. To get financing for a timeshare, you can ask a traditional lender, get a home equity loan, or go through a developer program. There will be a minimum down payment—usually about 10%—and other upfront fees for taxes, insurance, and maintenance. Financing is available for buying a timeshare resale as well, Talk to your bank, or contact us for more information on financing options.
How much does a timeshare cost?
The cost of a timeshare varies widely depending on many factors. The first determination is the time and location—the more popular the location and the time of year, the more it will cost. Other variables include the size of the unit, the popularity of the resort, the amenities offered, proximity to popular attractions and more. It is important for you to determine what you need and what you want for your vacation.
What is the difference between fixed, floating, and flex weeks?
There are three different types of weeks you can buy: fixed, floating, and flex.
A fixed week is identified by a number on the timeshare calendar—for example, the first week in January is week 1 and the last week in December is week 52. Most fixed weeks begin on Friday, Saturday, or Sunday. When you buy a fixed week, you can only stay at the resort on that week, so it is important to pick a week that you like.
Floating weeks require you to contact the resort to choose your desired week. You can contact the resort during any time of year, but remember that some weeks are always reserved for upper-level membership. A floating week allows you the flexibility to move your vacation week around.
A flex week is always during a specific season, although the week can change. Sometimes the season is designated by color (red, blue, yellow), or by time of year (spring, winter, summer, fall). Different resorts use different seasons, so be sure you contact them directly before making a purchase.
What are points?
Sometimes resorts opt to sell points instead of weeks. Each location, week, and unit is worth a different number of points. This system allows a great deal of flexibility to the owner. They can use their points however they want—for one week, split them and book multiple weeks, or rollover to the next year for a longer vacation.
What is an exchange company?
When you buy with an exchange company, it gives you the option to stay somewhere other than your home resort. You can exchange a week for a comparable resort. The two largest exchange companies are Resort Condominiums International (RCI) and Interval International (II). These companies are affiliated with over 5,000 resorts around the world.
What is a banked week?
When you have purchased through a resort which allows you to exchange, but you cannot use your week, you have the option to reserve unused weeks to be used at a later time. This is called a banked week. Typically, a time limit is set for when the week must be used (e.g. within 2 years), although for a fee, the banked week’s expiration can be extended.
What is the difference between red, white, and blue seasons?
Each resort has different seasons which determine the value of the timeshare. Most use three principle colors to indicate the demand of the season. Red is high season, white is mid-season, and blue is off-peak or low season. However, each resort may have its own variation of the colors system (such as platinum, gold, and bronze, or red, yellow, and green), so be sure you contact the resort before purchasing anything.
What is a maintenance fee?
In most cases, maintenance fees cover taxes, utilities, insurance, and any general resort maintenance fee. These fees are paid monthly, annually, or biennially depending on the type of ownership.
What does RTU mean?
RTU stands for “Right-to-Use.” In locations where deeded ownership of vacation properties is not permitted by law, the owner will be given a contract very similar to a lease to define a claim to the property. These contracts can range from 20 to 99 years.
What is the difference between biannual and biennial?
Biannual allows the owner to receive two weeks per year. Biennial allows the owner to receive one week every two years.
What is a timeshare resale?
A timeshare is a jointly-owned property that allows individuals to choose a set time—usually a week—to spend at a luxury resort every year. A timeshare resale is a timeshare that is being sold by an owner rather than a developer or a resort, usually at a lower cost than the timeshare’s original retail value.
Can I purchase vacation club membership and points on the timeshare resale market?
Yes. Some resorts offer a points-based system in which you buy a set of points instead of buying a property. Then, you can use these points at a variety of resorts all over the world. How many points a resort is worth is typically determined by the season you are looking at, the popularity of the resort, the location, the size of the unit, etc. This type of system offers deeded or right-to-use contracts which can be resold to a new owner.
How is the ‘market value’ determined for resales?
Determining the cost of the timeshare has many variables. These include the season, the popularity of the resort, the location, the size of the unit, and more. If you are interested in the value of your timeshare, enter your information into our market value survey and a representative will contact you to discuss its worth.
Will I receive the same benefits offered by the resort if I buy a resale?
Most likely. In typical cases, all of the benefits of ownership are transferred when you purchase a resale timeshare. Occasionally, restrictions apply for certain companies—such as Disney Vacation Club—simply because they offer perks for those who purchase their timeshare through the club. For clarification on a particular resort, contact them directly. Before buying, it is important to consider whether or not those perks are important to you and your family.
How does the ownership get transferred to me when I buy a resale?
This is a very complex legal process, but closing and title transfer services are offered by a variety of well-respected companies. They can manage the whole process, or you can ask them for specific services if you do not feel comfortable completing a specific part of the process. To learn about our recommended closing companies, call us at 1-866-430-4384.