Many travelers like the idea of renting a timeshare. You’ve seen the commercials on TV: it sounds almost too good to be true, right? You can rent a property and share it with other people so that you can take great vacations without having to buy a rental of your own or pay high prices for a regular holiday rental property. However, timeshares can be tricky business and if you’re investing a lot of money you deserve to be prepared. Here are some tips to make it easier to navigate the world of timeshares for your retirement getaways.
- Do your homework. There are so many people out there who just take what they are given and believe the person selling it to them, but you need to do some research. Being prepared will keep you from making big mistakes.
- Never believe what you hear. The salesperson telling you that you’ll be able to do extraordinary things or your brother Joe commenting that timeshares never work because it didn’t work for him are not things that you should listen to. Do your own research.
- Don’t purchase timeshares as real estate investments.
- Avoid salespeople who use words like perfect, always, free, or never. These ‘too good to be true’ terms usually are.
- Don’t be a pushover. It’s easy for us to feel guilted into a sales pitch or presentation, but you really need to make sure that you understand the product, like it, and would use the product before you agree to buy anything.
- Don’t make assumptions and keep an open mind. Learn about the timeshare before you assume anything and never take your preconceived ideas into a presentation because it will cloud your judgment.
If you can keep these tips in mind, renting a timeshare can be a great vacation opportunity.