Timeshare Resale Buyers Guide
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by: DavidWolf
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Did you ever have the experience of purchasing an inexpensive automobile only to discover that you were not happy with it and wish you had purchased a better model? The same is true in timeshares. The "satisfaction quotient" of a timeshare will actually be determined by your buying the right one in the first place. The same concept is valid, regardless of whether your purchase is a resale or a new timeshare. The only difference is that you will buy the resale for one third to one half the price. Take into account the following points prior to buying a timeshare.
Is this a desirable location? Is there a high demand for this locality? Is it near a lot of desirable amenities? Are there nearby attractions? Certainly, beach front property is more desirable than properties a block from the beach. Some resorts may be for those desiring a quiet getaway with great nature views. Decide what best suits your particular needs and lifestyle? If you are contemplating the purchase of a timeshare in the Bahamas, you may want to take a look at, "Blue Water Resorts at Guanahani Village Timeshare Resale " this is a luxurious resort with a lot of amenities.
Is the project well designed? Is this project a conversion or was it built from the ground up? There are some motel conversions that are very good. Others result in turning a substandard motel into a substandard timeshare. Does this project have a mix of one and two bedroom units, with several studios? Is this a visually appealing well laid out project? Of course a project that is well laid out and with attractive floor plans is more desirable.
How well is the property managed? The first thing to consider is the cleanliness of the units? Look for dust, non-working windows, squeaking doors, seedy landscaping, etc. Well managed properties retain their value much better. Is the property visually appealing to you?
Is the project financially sound? This is harder to find because it is not visible. Request a copy of the home owner's association financial statements. As other owners if you cannot easily assess the finances from the financial records . Have there been a lot of special assessments? If there is a professional Property Manager (a CPM or RRP), ask them. Is the project "living beyond its means"? Search for the reserve study. Will the property need any major repairs any time soon, and if so, do they have the reserves to pay for it? Request the minutes of the Board of Directors meetings and look at the entries that pertain to the last few minutes of the meeting. If you are contemplating selling your own timeshare, take a look at,"Sell Blue Water Resorts at Guanahani Village Timeshare", for a very good resale broker.
Which season of the year do you wish to purchase? Buy the high season if that is what you wish to consistently use. If the busy season is the one that fits your personal schedule best, then you should pay the extra price and get it. If you have school age children the same applies. Sometimes, the reverse is true. For example, we have many Owners of Southern California beachfront resorts who live in the east and Midwest and have specifically purchased the "off season" because it gets them out of the cold. This fits their purposes quite well.
Lastly, what is the asking price? We mention price last on purpose. You are contemplating a long term investment. If you get the wrong one, the dissatisfaction will be present long after you have forgotten what you paid for it. At current resale prices, I don't think there is any way to lose. Resale timeshares are like antique furniture. They will either hold their value or increase with time. A timeshare resale is a purchase that can save you quite a bit. In the worse case, you will have a lot of great vacations, and then you will sell the timeshare and retrieve the majority of your expenditure . Currently, resale prices are generally half of the original developer sale price. Of course the price will vary from property to property. To ensure that you pay a reasonable price, do some comparison shopping. Call a title company in the area to find out what the resales in a specific resort are going for. Ask a resale Broker to show you some comparatives. Go about this purchase in a manner similar to a home purchase. Certainly, this is not as important a purchase as a home, nevertheless, the research involved is worthwhile. Keep in mind, you are likely to own this timeshare for years.
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To read more about an honest timeshare broker come see us at:Sell Blue Water Resorts at Guanahani Village Timeshare
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