In our 2018 listener survey, we learned that over 50% of our listeners listed “traveling” as the #1 activity that excites them about retirement. When talking about traveling in retirement, the topic of timeshares often isn’t far off. Anecdotally, our clients are happy with their timeshare purchases, but that doesn’t mean horror stories aren’t out there.
How to Buy a Timeshare
Like any large purchase, buying a timeshare has tips and tricks to save you stress and money, while avoiding the pitfalls of a bad decision.
Our guest this week is Lisa Ann Schreier. Lisa is a former timeshare salesperson and current blogger at TheTimeshareCrusader.blogspot.com
As a former salesperson of timeshares, Lisa is all too aware of the hard-sell tactics of many timeshare sales companies. Many timeshare sales pitches happen while you are on vacation. Is that really the best time to buy a timeshare? Lisa is an expert in the buying and selling of timeshares and will guide us in the decision making process.
Listen in as Lisa and I answer the following questions:
- How do timeshares work?
- How do I finance a timeshare? Down payment? Seller financing?
- Are timeshares investments? Could I reasonably expect to sell my timeshare at a later date for a profit?
- There is an old adage: Don’t shop for groceries when you’re hungry. Would this apply to buying timeshares? Is there a best or worst time to buy a timeshare?
- When a retiree wishes to buy a second home in retirement, we often recommend renting for six months before fully committing to a purchase. Is it possible to rent a timeshare before buying?
- Should I buy a timeshare on the secondary market (a used timeshare), or should I buy directly from the developer?
Resources mentioned in the episode:
How much is a timeshare really worth? (The Zillow for timeshares)