Buying a Used Timeshare Property Vs. Buying a New Timeshare Property

With so many options out there, it can be a daunting task to decide where to buy your first timeshare. Let alone the decision to buy a timeshare resale or directly from the timeshare resort or developer. Both of these options have there pros and cons which makes it that much more complicated. Buying a timeshare resale from an auction site, licensed broker, or even a classified ad is still a relatively new concept when the only option before was to buy directly from the resort or developer. The Internet has been vital to the growth of the timeshare resale industry. Websites like eBay.com, bidshare.com, and redweek.com have given potential buyers more information on the timeshare resale properties as well as a variety of buying options.

Think back ten years ago when a timeshare buyer could only buy a timeshare through a time consuming presentation by the timeshare developers. The buying decision for a potential buyer was mostly based on impulse buying rather than someone's research. This of course changed once the internet auction sites came along and offered the necessary tools to allow someone to research and analyze the prices before even going into the timeshare presentation. The timeshare buyer is now able to make a more informed decision about purchasing a timeshare than earlier. Timeshare buyers can also bypass the entire mind-numbing timeshare presentation by purchasing a timeshare resale. Consider that the average timeshare presentation can take 90 plus minutes or even longer. Furthermore, if you attended a presentation for the purpose of the "free gift," you were then subjected to extremely high pressure selling techniques to buy the timeshare right then and there.

When discussing the cost comparisons of buying a new timeshare or buying a timeshare resale, the cost of a new timeshare unit will have the cost of the advertising, the presentations, the free gifts, etc. which could amount to a ridiculous 40% of the cost of the timeshare! There are times that the all of the aforementioned costs could equate to more than what it would cost to buy a timeshare resale. If you were to buy a timeshare through the resale market, you will likely save 30%-50% off the cost of buying a new timeshare. In addition, buying through the timeshare resale market will give you more choices, as well as allow you to select the unit that you want from any area that you want. You will also put your mind at ease knowing that you can get the best price provided you do your homework. Even if your "homework" took hours to do, wouldn't that be worth it to save thousands of dollars off of buying a new timeshare?

However, there are good reasons to buy directly from the timeshare developer or resort. Many of the timeshare resorts are owned by household names like Disney, Wyndham, Marriot, Hilton, etc. But when you buy through the timeshare resale market, the trust factor is low and your investment might not even be secured versus buying new. Remember that these timeshare developers spend enormous amounts of money to develop the timeshare resort and also have put their reputation on the property to further the trust factor with the timeshare buyer. These developers will include the latest and best amenities which you can never get from a resale unless it is a fairly new property. The other factor in buying through the timeshare developer is that your purchase will likely have other incentives built in to the cost. For example, it is common to get bonus weeks, or discount tickets on the local attractions, car rentals, and more. These benefits and perks will likely not be available to you through the timeshare resale market as the developers oftentimes do not include these perks in resale units. Also remember that the timeshare developers will typically have many financing options that you would likely not get from the resale market.