How to Buy a Timeshare
Major Change Underway in Industry Sales Approach
September 30, 2011 | View PDF Version
WASHINGTON – September 30, 2011 – The American Resort Development Association (ARDA) reports that a majority of its member companies now offer rental programs as a great way to experience the timeshare vacation lifestyle. And nearly half of timeshare purchasers rented first, according research conducted by Ernst & Young.
This represents a significant shift in the way vacationers purchase timeshare vacations. With more than 5,000 timeshare resorts in 100 countries and the many benefits of owning a timeshare property, more consumers are exploring their options. ARDA offers a few tips for would-be purchasers when in the market for a timeshare. In addition to renting, ARDA recommends taking a mini-vacation, finding a location you love and doing your research.
“We developed VacationBetter.org as a resource to help consumers learn about the value of taking regular vacations and to share why vacation with timeshare is a better vacation,” said Nusbaum. “We encourage people who enjoy vacation, want to get more ‘bang for their buck’ and have the comforts of home to visit the site.”
Try before you buy. There are many ways for vacationers to ensure the right timeshare rental to meet their travel needs. Rentals can be found at aggregated sites such as www.redweek.com and www.tug2.net, as well as with many timeshare developers that may be offering rental packages.
Take a tour or a mini-vacation. Most developers offer interested vacationers an opportunity to stay at their resort for a very reduced rate in exchange for learning about and touring the property. Contact the developers you are interested in to arrange this.
Choose a vacation and a location that fits your lifestyle. Think carefully about what you value most in a vacation and travel experience, then explore the wide variety of vacation ownership products and options available. Many developers offer points systems and the ability to exchange from your home property to others around the world. But be sure to visit that home property to ensure that it’s the best location and has the best amenities – for you and your family.
Be an informed consumer. Learn about the various types of shared ownership, from timeshares to private residence clubs. There is something for everyone. Also, learn about the marketplace you are purchasing in. Individual state timeshare laws govern the purchase process. These laws usually address such issues as financial requirements for the developer, rescission rights, disclosures about the resort for consumers, and provisions for resort management. Be careful when purchasing a vacation product that sounds like a timeshare but isn’t registered as one under state timeshare laws.
“We have always recommended to prospective buyers to first pick a timeshare that they will use often over the years,” says Ed Hastry, President, National Timeshare Owners Association. “The week and number of bedrooms is also important. We recommend they rent a week before buying to see if they like the timeshare and if it has all the amenities they are looking for.”
Timeshare can be a much better way to spend your vacations. Take the time to find out how. Visit www.VacationBetter.org for more information.
The American Resort Development Association (ARDA) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has almost 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). For more information, visit www.arda.org or ARDA’s consumer website at www.VacationBetter.org.