Should I buy a timeshare, and how?

Ask the Timeshare Crusader / June, 2010

I've been on three timeshare sales presentations, looked at ads on RedWeek, eBay, and Craigslist, and am more confused than ever about timeshare. All I read in the media is bad news: poor investments, scams, people who can't sell their timeshare for even . My family and I like to travel but we've outgrown a standard hotel room. Why is buying timeshare so complicated? Should I buy a timeshare? How?

If it makes you feel better, you are not alone. Most consumers are confused when it comes to timeshare and unfortunately, there is a little unbiased information out there to assist.

Let me clear a few things up:

• No timeshare should ever be thought of as an investment of any sort, in the same way that money spent on renting hotel rooms is not an investment
• Check out any timeshare you are thinking of purchasing and do some real financial, vacation, and timeshare homework
• Don't be swayed one way or another by other people's stories

If you are the type of people who vacation on a fairly regular basis and are now paying for two hotel rooms, you may very well be a great candidate for a timeshare.

Which timeshare? Every timeshare salesperson at every resort will tell you that theirs is the best. Warning sign #1 - avoid salespersons who use the word "best." Also, just because a timeshare is on sale for a really low price, even on a reputable site such as RedWeek.com, does not mean it is good for you.

I advise you to work with a consultant who has no financial stake in your purchase. Timeshare salespersons stand to make money when you buy, an independent consultant won't.