How to Understand Timeshares and Timeshare Trading

Trading a timeshare allows you to see different parts of the world.

Timeshares have become incredibly popular in the last decade, and almost all major hotel brands now sell timeshares at their properties. A timeshare is a fractional ownership, usually for a week or month at a time, giving the owner full use of a unit. However, visiting the same property every year can become tiresome. Trading a timeshare for a week at another property will allow you to see other places and countries at sometimes a fraction of the cost.

Instructions

1. Ask questions at the open house or timeshare purchase appointment prior to purchasing the timeshare. Understanding the privileges and advantages of owning a timeshare can be confusing. If you attend a timeshare open house, take notes during the presentation. Do not purchase a timeshare the same day you tour the property, but think about the responsibilities of timeshare ownership including yearly homeowner's association fees.

2. Read the purchase agreement. Ask for a copy of the purchase agreement prior to signing it. Read the purchase agreement carefully to determine whether the property allows owners to engage in timeshare trading. For example, some timeshare purchase agreements will forbid timeshare trading, and it is important to be aware of this limitation beforehand if you have an interest in trading the timeshare in the future.

3. Discuss any questions or issues you do not understand with a real estate attorney. While an attorney can be expensive, understanding an owner's rights and the applicable law is very important. You should view purchasing a timeshare as you would any potential investment in real property. In addition, if you are purchasing a timeshare abroad, the laws of the country may be vastly different from the United States' property laws.

4. List a timeshare trade online, using one of the many timeshare trading websites. After you purchase a timeshare, many online resources are available that make it easy for timeshare owners to contact each other and trade timeshares. In addition, some properties, like Starwood, allow timeshare owners to trade their weeks for other Starwood properties every other year.

References

• Redweek: Home
• Starwood Vacations Ownership: Home