6 Tips to Save Money on a Timeshare Purchase

What is a Timeshare?

A timeshare is a partial ownership of a condo-like unit in a resort. They are owned, operated and maintained by independent resorts, small chains, and giant companies like Hilton, Wyndham, Marriott, Westin, and Disney.  Here are the best tips to save money on a timeshare purchase.

1. Don’t Purchase Your Timeshare From the Resort

According to Timeshare Users Group (TUG), the oldest and largest owners group and advocacy organization, timeshare resorts spend between 40 and 60% of the timeshare price on marketing. That means you will purchase a timeshare for much more than it is actually worth.

2. Buy Your Timeshare Resale

 You can save 75 to 99% of the purchase price of a timeshare by buying it off the resale market Well, how do you find resale listings? The TUG Timeshare Marketplace is one of the largest and most visited timeshare classified ad sites with tens of millions of dollars in sales over 20 years.

3. Choose a Timeshare That Matches Your Travel Lifestyle

A common complaint from unhappy timeshares owners is that they aren’t using their timeshare because it “does not work for them.” You could get a great resale deal, but if you don’t use your timeshare you’ll be wasting your money year after year.

4. Pick a Fiscally Responsible Resort

Before moving forward with a purchase, make sure you’re getting “married” to a company who is fiscally responsible. Some resorts have a history of sending owners one time “special assessment” bills for large repairs or major updates that the operating budget can’t cover.

5. Learn From Existing Owners

There are more resale timeshare listings than people looking to buy, so there is no rush! Take advantage of all the timeshare communities online to research, ask questions and learn from others before you purchase.

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