What You Should Know About Buying A Timeshare Resale

Timeshares aren't new to vacations, but they have become very popular in recent years and for good reason. They make taking a vacation anywhere in the world easy and affordable. You can choose to vacation at your home resort, or you can pick a destination among the chain's many other destinations. You can even rent out your weeks if you wish. There are plenty of options available. 

What else should you know about buying a timeshare before you make the purchase? Here is some information to help.

You Could A Buy Secondhand Timeshare Resale

You might think you don't have much of a choice in how you buy a timeshare, but that's not true. You have a couple of options. You can buy the timeshare directly from the hotel or resort chain such as with the Marriott Aruba Surf Club Timeshare resale company, or you could buy your timeshare secondhand from the owner who has decided to sell their timeshare.

You also have another option if you wish to only buy directly from the brand itself, you could buy a secondhand timeshare from what they also have available. This means you could save some money in the long run. Like with any real estate property, brand new timeshares will come with a slightly higher cost, while secondhand or resale properties tend to come at a lower price.

Keep in mind, that when you buy directly from the brand itself, you will also receive all the benefits of owning that timeshare such as any membership and points rewards that can go toward perks for your vacations. If you buy from a seller, you will need to make sure those perks are transferred to you.

Know What You Are Buying First

There is more to know than simply how many weeks and what weeks you are buying. You also need to know what type of timeshare ownership you are buying. There are a couple you can choose from. You can choose a deeded timeshare or you can choose a licensed timeshare.

If you choose a deeded timeshare, this means you hold the deed to the property you own. You can rent it out when you want to, you can sell it if it no longer fits your needs, or you can exchange it for a different home resort or even property on your chosen resort. If you wish, you can also pass it on to your heirs. As long as you hold the deed, it's yours.

A timeshare license differs in some ways. This is more of a membership plan which gives you the right to use the property on the weeks you have chosen. You might have a contract for a certain period of time such as several years, which can be renewed if you wish to. A membership can give you points or other perks you can use for stays at the brand's other timeshare resorts or even their hotels.

With a timeshare license, you don't hold the deed, that stays with the home brand, but it can make it more affordable to you if you can't pay to outright own a timeshare.