Has it come time to start searching for your dream vacation home?
If so, this guide has everything you need to know about getting the most out of your timeshare resale.
It’s no surprise you wish to purchase a vacation home. In the U.S, almost 10 million homes own some style of a timeshare. However, it is a surprise that you have waited until now to consider resale timeshares.
The market continues to grow, so more people than ever are looking to snap one up. Therefore you must act fast and learn how to get the most out of the resale property.
So continue reading to find out how to do so!
1. Consider the Style of Timeshare Resale
Everyone deserves a well-earned break from the stresses of reality every year. That’s why around 100 million Americans plan to take a trip away in the summer.
The first thing to consider is if you like visiting somewhere new every year. If so, you must consider a points-based timeshare system.
It works by an owner collecting points that they can exchange for the use of a hotel or resort. The best feature of this system is that you can use the points at any property owned by the brand. One year you can visit Florida, the next, California; and the following, Hawaii.
If you wish to stay in one place, a traditional fixed timeshare is better for you. You can visit the location every year during the same period. However, you must consider if you’ll enjoy going back annually.
2. Pick the Best Timeshare Resale Company
With the rising demand for rentals, more timeshare resale companies pop up. As we draw closer to 2023, there are endless sites to pick up a vacation home. However, to help get the most out of the sale of the property, there are some insider tips.
First, you should never buy a timeshare directly from the hotel or resort. People looking to sell their property will offer a much better deal than a big-name resort. You’ll end up spending more of your hard-earned cash from a hotel.
Next is to find reliable timeshare rental companies. Of course, it is tempting to head right to websites such as eBay or Facebook Marketplace. However, with such a financial investment, you need peace of mind and people that can help guide you through the process.
Some of the most reputable businesses are A Timeshare Broker and Wyndham Destinations.
3. Research the Numbers for Timeshare Resales
With such an exciting opportunity, it’s easy to overlook the responsible factors. Nonetheless, your dream timeshare can turn into a nightmare if you don’t run the numbers.
When buying a property, you’ll know how much you need to spend. But below are some hidden costs to keep in mind and add to your expenses.
- Real estate taxes
- Property taxes
- Maintenance costs
- Annual fees such as water and electricity
- Site fees
Along with costs towards your rental, you must also consider the travel fees. They might be taxi fares, flights, and spending money while you’re in town.
The costs may put a dampener on your vacation spirit right now. The good news is that timeshare loans financing can help you pay as you go.
Choose Your Timeshare Resale Today
Unfortunately, not everyone gets enough time to relax throughout the year. So if you’re lucky enough to buy a timeshare resale, you must take advantage today.
Now you know three crucial steps for turning your dream into a reality. All that’s left is for you to clear your schedule and decide where you want to visit every year!
Do you need help deciding where to call your second home? Then keep reading the travel section of our blog for some inspiration!