Over nine million Americans own a timeshare, which shows how popular it is.
Despite this, many newbies make mistakes with choosing a timeshare, potentially ruining future vacations for themselves and their loved ones. Because of this, it’s important to familiarize yourself with common errors so you don’t make them. Perhaps you’re currently in this position and you’re not sure where to start.
Sounds like you? Don’t worry, you’ve come to the right place. Here are five common timeshare buying mistakes to know.
1. Buying on Impulse
Aside from ignoring the timeshare cancellation policy, a common mistake is buying on impulse. It’s easy to get swept away and join the Hilton Grand Vacation Club, but it’s important to break down the decision.
Make sure you attend a presentation so you can learn about the timeshare and avoid buying one from a developer because you won’t get the best price.
2. Not Doing Your Research
Before browsing options for timeshares, do your research. You must understand how the timeshare works and what your responsibilities will be. Make sure you read the fine print and reach out to other timeshare owners to see whether it’s worth your time and money.
Further, research the area to decide whether it’s the right fit for you. For instance, if you love going to the beach, then see which is the best in the area and find a timeshare nearby.
3. Not Being Flexible
Aside from considering locations for timeshares, it’s crucial to be flexible. A major issue is when consumers aren’t realistic about what their money can buy and end up disappointed. Instead, read online reviews and learn more about what the timeshare has to offer.
4. Overlooking Your Vacation Budget
Many Americans avoid comparing timeshare costs or seeing if it’s financially feasible, which is a major no-no. Aside from the cost of the timeshare, you must have enough for transport and cash for living expenses.
Although it’s difficult, be honest about your finances and don’t feel disappointed if it’s not a good idea yet. Instead of getting into debt, save up for the timeshare of your dreams, without compromising your credit.
5. Not Considering Future Vacation Plans
You’ve found the ultimate provider for timeshares, but before sealing the deal, figure out your future vacation plans. While a permanent vacation spot is ideal, it’s useless if you don’t want to revisit the same place every year. To avoid this situation, decide whether you’re happy with this timeshare contract or if you’d rather check out new destinations.
Know the Common Timeshare Buying Mistakes Today
Hopefully, after reading this article, you know the top timeshare buying mistakes.
There are many common errors, such as buying a timeshare on impulse, not doing enough research into the location, and not being flexible. You should also be honest about your budget and decide whether you’re happy returning every year to get your money’s worth. Good luck!
Read more: How to Cancel My Westgate Timeshare.
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