Please forward this error screen to 69. I am a huge fan of Disney and when I bought my Westgate 5 years ago it was the best purchase I have made. This resort allows me to go every year and stay only minutes away from Disney at a are timeshares a bad investment of the cost. With my large 3 bedroom unit I also have the option of bringing family or friends with me.
If you like the area this is a great Timeshare to own. The first way is by weeks, each owner will own a set week or a floating week. The second way is to own points. Most people become convinced that timeshares are investments much like a houses. However timeshares are far from being a good investment.
Think of a timeshare as being similar to a company stock. If this company sells off millions of shares of stock, it dilutes the market making the price per stock to go down. It is the same with timeshares you are a fractional owner of a room at a resort. If a resort has 1000 units available and 50 owners per unit, that makes 50,000. There are 2 different types of ownership in timeshares the first is deeded.
This is very similar to owning a house. You are the owner of a fractional resort. This is a physical ownership stating you own a specific unit number or floating unit during that specific week number or floating week. Leased on the other had will be set for a specific amount of years typically 30 years. Just like a Deed you would own a fraction of a resort and would be able to use it as the lease states however you would not be the owner after the leased years are up. When it comes to the week you own it could be a fixed week or a floating week, in some cases it could be both.
If you own a fixed week that means that you have it that week every year. If you have a floating week that means that you need to contact the resort to reserve the week you want. Now some resorts will assign you a fixed week but also allow you to call and reserve a different week while giving up the fixed week you have. These memberships allow you to bank your timeshare week with the company. This will give you 1 banked week that you can use at a later date.
When you decide you want to go on vacation you would call the exchange company and ask to use your banked week for the resort you want to go to. These programs are great for someone who can’t use their week that year. There are 3 ways you can go about selling your timeshare. The first way it to go to a licensed realtor. This can take a lot away from what you get from the sale of your timeshare.
Another common problem with realtors is they can’t not show your timeshare like they would a house. No resort is going to let a realtor show your unit to a potential buyer. Some resorts will have a resale program and in some cases it could be a good option. However most resorts are more concerned with selling the units they still have available. Selling your timeshare is not going to be a priority to them because they are more concerned about making money for themselves at the resort itself.
They will make a lot more money selling their own units than reselling yours. Not to mention they are getting maintenance fees from you year after year. The last way possible is to advertise. There are many good companies out on the internet that do mass marketing to millions of people.
At the same time there are many bad companies that will tell you what they are going to do but really don’t. Be careful who you list with. Check the BBB to see if they have any complaints, remember every company will have a few complaints but check to see if the complaints were resolved. Also look around at the internet to see if the company is advertising as they say. Don’t just take their word for it. Be reasonable if they tell you to price your resort really high or for more than what you paid for it be leery.