Timeshare Buying Tips

Timeshare offers a superb holiday choice for thousands across Europe and these tips are provided to ensure that you are as well informed as possible when considering a timeshare purchase:

• Do your homework and make sure that timeshare is right for you
• Visit a timeshare resort - many developers now offer low cost ‘inspection visits’ to give you the chance to try before you buy
• Check the paperwork carefully. Your contract will be accompanied by a document which sets out your rights and obligations including details of the annual maintenance fee, the way the management of the resort is arranged, a description of the resort and its facilities and whether there is an elected owners committee
• This document should be written in your language provided that it is an official EU language
• You have the right to a minimum ten day cooling off period to cancel your contract without penalty in the European Union. Some countries, such as the UK and Portugal offer a longer cooling off period
• The cooling off period must be detailed in writing in your contract
• Make sure that any promises made to you at the point of sale are included in the purchase documentation
• Timeshare is not a financial investment - you are buying future holidays at today’s prices rather than a property based investment
• Is the resort a member of the industry trade body, Resort Development Organisation (formerly Organisation for Timeshare in Europe)? Its members sign up to the RDO code of conduct