What is a Good Price on a Timeshare?
If you are looking for a good deal on a timeshare, then you definitely want to consider buying used and looking into the resale market.
The thing about timeshares is that they are way overpriced if you buy them straight from the resorts.
In fact, the purchase price of a timeshare is usually inflated by about double the value of its actual worth to cover marketing costs.
If you come into timesharing thinking you can flip them the way some entrepreneurs flip houses, you might want to think twice because the resale market is virtually nonexistent with roughly 3 million out of more than 4 million timeshare owners trying to sell their timeshares.
More than half of timeshare owners don't want their timeshares, and they can't get rid of them because the resorts are renting them out at discounted rates cheaper than what the timeshare owners are paying.
Much like a car, timeshare properties depreciate in value making them worthless and hard to dispose.
And it's always the first owner who takes the biggest hit, while everyone else reaps the benefits of a newly formed resale market.
If you buy from an owner trying to get rid of their vacation property, you can save anywhere from 50 to 70 percent! That's a lot of savings, which is exactly why you should buy a used timeshare instead of a new one.
According to Bill Rogers, founder of the Timeshare User's Group, a network of timeshare owners, a good rule of thumb as far as a good price on a timeshare is 50 cents on the dollar, and that's only at the high end.
On the lower end, you can find some for 10 cents on the dollar.
Timeshares have many wonderful benefits, but they also have their downfalls as well.
Though they are easy to buy, they are not always as easy to sell, let alone give away.
If you find a timeshare you really like, and think you'll use at least for the next five to ten years, by all means, buy it if you think it's a good deal, and take comfort in knowing that should you decide it's time to give up the timeshare for whatever reason, you won't be locked in to your timeshare contract forever thanks to the timeshare transfer services offered by companies like Timeshare Relief.
The thing about timeshares is that they are way overpriced if you buy them straight from the resorts.
In fact, the purchase price of a timeshare is usually inflated by about double the value of its actual worth to cover marketing costs.
If you come into timesharing thinking you can flip them the way some entrepreneurs flip houses, you might want to think twice because the resale market is virtually nonexistent with roughly 3 million out of more than 4 million timeshare owners trying to sell their timeshares.
More than half of timeshare owners don't want their timeshares, and they can't get rid of them because the resorts are renting them out at discounted rates cheaper than what the timeshare owners are paying.
Much like a car, timeshare properties depreciate in value making them worthless and hard to dispose.
And it's always the first owner who takes the biggest hit, while everyone else reaps the benefits of a newly formed resale market.
If you buy from an owner trying to get rid of their vacation property, you can save anywhere from 50 to 70 percent! That's a lot of savings, which is exactly why you should buy a used timeshare instead of a new one.
According to Bill Rogers, founder of the Timeshare User's Group, a network of timeshare owners, a good rule of thumb as far as a good price on a timeshare is 50 cents on the dollar, and that's only at the high end.
On the lower end, you can find some for 10 cents on the dollar.
Timeshares have many wonderful benefits, but they also have their downfalls as well.
Though they are easy to buy, they are not always as easy to sell, let alone give away.
If you find a timeshare you really like, and think you'll use at least for the next five to ten years, by all means, buy it if you think it's a good deal, and take comfort in knowing that should you decide it's time to give up the timeshare for whatever reason, you won't be locked in to your timeshare contract forever thanks to the timeshare transfer services offered by companies like Timeshare Relief.
