Time Share - What You Need to Know

By: Bob Janeway

To those who are not familiar with the concept of time share, it is the long-term vacation option that gives its owners the right to use a vacation home for a specified period every year. Timeshares are for individuals who can't afford the luxury of a second vacation home. For individuals who just do not have the budget, time share is the next best thing.

As in most things in life, choosing a time share package depends on the taste and needs of the buyer. Making the right timeshare choice will be one of the most important vacation decisions you ever have to make in your life.

Just remember that a timeshare package is a long term investment. That is why it is essential that you do not only consider your short term needs, but your long term requirements as well. It would be wise to check out the local area if there is a good range of restaurants, local bars and amenities there before making a final decision. Or if you want you could also choose a timeshare location with a night club.

Getting a time share package can be very confusing. Don't let yourself be persuaded by small talks of persistent sales person. Before you buy a timeshare package, read the guidelines below.

1. Take advantage or of promotional offers by developers that will allow you to visit a resort with inexpensive or free "try-out" vacations before you buy a time share package. This is a great deal since you don't have to take out money plus you get to spend a vacation for free.

2. It is important to consider your lifestyle and recreational preferences when evaluating the appeal of the location of the timeshare package.

3. Perform some research by asking question to current owners of timeshare packages about their satisfaction or dissatisfaction with their timeshare packages. It is highly advisable that you do a thorough research before you buy a timeshare package. Do background checks on the company before committing any funds. If you are diligent enough to do your homework, you are sure to find the timeshare package just right for you.

4. Get yourself familiar with maintenance fees associated with the time-share unit. Make sure that the maintenance fees, which usually cost several hundred dollars per year, cover the costs of cleaning, landscaping, maintenance, taxes, utilities and other necessities.

5. Consider buying a time-share package in a particular resort only if you intend to visit that resort on a yearly or regular basis. If not, then you would just be wasting money.

6. Take note that some timeshare packages can be exchanged for a week in another resort. This is known as an external exchange. Some timeshare packages can be exchanged for a week in your home resort This is known as an internal exchange.. Ask your timeshare provider if these options are possible.

7. If possible, choose a timeshare company that would allow you to bank your unused time-share weeks to use at a later time. This would definitely be very convenient for you.

8. Search for a time share company that would allow you to rent out your time-share week. Many timeshare owners rent out their time-share properties for a rental amount that can equal twice the amount of their maintenance fees.

9. Keep in mind that you have an option to buy a time-share package directly from other owners rather than purchasing from a resort.

10. Averages time-share package costs somewhere between $10,000 to $11,000 for one week every year for the rest of your life.

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Bob is the owner of timeshare.knowsmart.com/ which is an up-to-date time share website including tips on time share resale.

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