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. There is, today, a wide variety of holiday types on offer, not just the traditional ‘one week for a lifetime’ – many developers now offer short term holidays, say of a 10 year duration, that are excellent value for money.
  • 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 14 day cooling off period to cancel your contract without penalty in the European Union
  • 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

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