5 Expert Tips for Buying a Timeshare On the Resale Market, With SellMyTimeshareNow
Many households are interested in timeshares, but are wary because of the high upfront expense. ARDA reports that as of 2024, the average purchase price of a timeshare was $24,170. As a result, many would-be timeshare owners finance their purchase or decide not to buy.
However, timeshare resale marketplaces like SellMyTimeshareNow offer a much more affordable alternative. Owners who no longer wish to use their timeshare can sell it on a secondary marketplace, and at a significantly lower price than they would get when buying directly from the resort.
Taking a few important steps can help make your resale timeshare purchase go smoothly.
1. Understand Different Timeshare Types
When most people think of timeshares, they think of the traditional “fixed-week” model, where owners use their timeshare during the same week each year. While these types of timeshares are still available, there are other options available that offer more flexibility for booking travel.
For example, a floating week timeshare allows owners to choose from a selection of weeks during different calendar periods. Selections tend to be filled on a first-come, first-served basis among everyone who uses the same timeshare. Other vacation clubs operate primarily on a points-based system, where owners are allotted points that can be used to book a stay at resorts within the club’s network anywhere from six to 12 months in advance.
2. Consider Your Travel Preferences
Your personal travel preferences should always be a top priority when browsing timeshare resale advertisements. Depending on your budget, you may find it better to select a home resort that is relatively close to where you live. This way, you could travel to your timeshare by car, rather than needing to book plane tickets. Or you might prefer a timeshare closest to your favorite activities, like theme parks or the beach.
Timeshare resorts may offer different activities at different times of year. For example, a mountain resort could provide access to skiing and snowboarding during the winter, and hiking and mountain biking during the summer. Making sure your timeshare week lines up with your preferred activities (as well as your family’s schedule) will make for a more enjoyable timeshare experience.
3. Be Aware of Annual Fees and Other Costs
Maintenance fees are one of the most common reasons people choose to sell their timeshares, so it’s important to consider them carefully when evaluating your options. Timeshare advertisements on sites like SellMyTimeshareNow list the annual maintenance fees associated with each timeshare so you can decide if the fees fit within your budget. It can also be helpful to know whether maintenance fees are split into monthly, quarterly, or annual payments.
In addition to maintenance fees, timeshare resorts may periodically charge special assessments for renovations and other upgrades. When contacting a seller about a timeshare, be sure to ask about any assessments that buyers are responsible for. While many resorts use maintenance fees to cover renovations and other similar costs, those that don’t could charge you extra for these fees.
4. Compare Vacation Clubs
The main vacation clubs that offer timeshare resorts are Disney, Marriott, Hilton, Wyndham and Hyatt. These and other vacation clubs all differ in regards to point systems, reservation rules, resort locations and more. Understanding how these vacation clubs handle booking or access to resorts beyond your home resort can have a dramatic impact on how you use your timeshare.
Before you start looking at timeshare resales, it may be helpful to compare and contrast the vacation clubs that seem the most appealing to you. Don’t just look at which resorts are in their network — pay attention to their rules and points systems, too. This way, you’ll be able to filter your search to ads that are more likely to give you your desired vacation experience.
5. Check Closing Costs, Transfer Fees and Other Contract Details
As with any purchase, you should carefully review contract details before agreeing to the sale. Timeshare resale transactions will include closing costs such as title and transfer fees that vary by resort, and these fees are usually handled by the buyer. Some resorts also charge activation fees after the sale. These fees should be clearly outlined in the purchase agreement, in addition to the resale price, so you can budget appropriately.
Another common contract detail to look for is the right of first refusal. This option is granted to many timeshare developers, and allows the developer to buy back a timeshare at the agreed on sales price before it is sold to a prospective buyer. If the timeshare developer has the right of first refusal, buyers should make sure they will receive a full refund of their initial deposit if the developer exercises that right. This should be included as part of the purchase agreement, along with all funds being held in escrow, for extra financial protection.
Make the Right Resale Purchase
Buying a timeshare on the resale market is surprisingly easy — especially with online platforms like SellMyTimeshareNow. By understanding the differences and costs associated with different timeshare resales and considering your own travel preferences, you can find a timeshare that fits your needs and will give you many enjoyable vacation experiences.
