- 1). Decide which kind of time share is right for you. Nowadays, there are several types of timeshares available. First, choose if you want a deeded or nondeeded time share. With a deeded timeshare, you own a fraction of the property, just as you would with your main house. This type of timeshare can be passed down to family members. Nondeeded timeshares are basically timeshare "leases." Many resort companies, such as Disney and Marriott, now offer timeshare options as well. Companies such as RCI and Intervals International allow timeshare owners to trade their timeshare for someone else's. The bottom line is, consider a few factors in order to choose a type of timeshare: Length of time and flexibility of when you will be able to use the timeshare, flexibility of swapping timeshares and whether you want to own a fraction of the property or would rather just lease it.
- 2). Decide the place you want to go and what weeks you want to travel there. There are timeshares available all over the world, so you've got your pick of destination. The whole point of buying a timeshare is to return year after year to the same location without having to worry about planning accommodations, so make sure the destination you pick is somewhere you'll love returning to each year. Also be wary of the weeks you choose for your timeshare. Most timeshares fall into one of three categories: high-demand, mid-demand and low-demand weeks. The high-demand weeks are the most expensive, but this does not always mean they are the best. If you want to avoid the crowds and also save money, consider a timeshare during a mid- or low-demand week. Do research on your destination beforehand, however, to ensure that the time you pick does not have any major pitfalls such as bad weather.
- 3). Know how much you should spend. The average cost of a timeshare in 2009 is between $16,000 and $30,000 for 20 years or so. There are also often small maintenance fees the owner is required to pay each year, usually in the range of a few hundred dollars. These prices may seem like a great deal, but keep in mind that the seller of the property has the potential to make considerably more by selling 52 weeks of timeshares for one property than he does if he were to sell the whole property to one owner. With this in mind, don't be afraid to try and negotiate to get a better deal.
- 4). Don't buy a timeshare as an investment. Unlike regular real estate, timeshares do not appreciate in value. Take the timeshare for what it's worth--a hassle-free, yearly accommodation in a place you love to visit.
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