Design Studio East
Considerations In Timeshare Resale Buying
Have you ever bought an inexpensive car only to find that upkeep and dissatisfaction made it more expensive than if you had just bought a better one in the first place? A similar situation can arise when buying a timeshare. The “satisfaction quotient” of a timeshare will actually be determined by your buying the right one in the first place. This exact principle holds true, whether your buy into a new development or purchase a resale. The only difference is that you will buy the resale for one third to one half the price. Consider the following attributes when purchasing a timeshare.
Is this a desirable location? What is the demand for this location? Are there a lot of amenities nearby? Are there any nearby attractions or points of interest? The property on the beach is better than the property a block back. 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 quality resort which is currently a bargain.
Is this a well designed resort? Are the timeshares converted from a motel, or built from scratch? There are some motel conversions that are very good. Others result in turning a substandard motel into a substandard timeshare. Is the property a mix of studio, one and two bedroom units? Is this a visually appealing well laid out project? The more attractive the physical layout of the property and the unit floor plans, the better.
How well is the property managed? First and foremost, are the units clean? 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?
Are the finances of the property in order? This is more difficult to determine because it is not readily apparent. Ask for a copy of the Owner’s Association budget or financial statements. If this is out of your area of expertise, ask other owners . Have special assessments been frequent? Do they employ a professional property manager that is certified. Are the expenses of the property beyond their ability to pay? Look for the reserve study. When will the property need a new roof and will the money be in the bank to pay for it? Another non-technical way is to review the last few minutes of the Board of Directors meetings. 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 use are you purchasing? Purchase the busy season if that is what you want to use on a consistent basis. If the summertime is high season and you are a schoolteacher who can only vacation then, you should go ahead, bite the bullet and buy that season, even though it may be at a premium price. 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. It works perfectly for them.
What is the price? This is mentioned last purposefully. You are looking at buying a lifetime possession. If you purchase an inappropriate property, you will be disgruntled for a long time subsequent to forgetting the purchasing price. 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. The worst that will happen is that you will have a lifetime of incredible vacations and at the end you will sell it and get all or most of your money back . Currently, resale prices are generally half of the original developer sale price. For some properties it may be more for others less. 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. In other words go about it as you would buying a house. Obviously it is not as major a purchase, but time spent getting the right product is absolutely worth it. Keep in mind, you are likely to own this timeshare for years.
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