Rent, Don’t Buy
Still, timeshares can be appealing because they provide a home-away-from-home feeling. If you are interested in this sort of set-up, but don’t want to commit to a timeshare, take our insider tip: Rent a timeshare.
Here’s why: Because the resale value of timeshares is so low, many timeshare owners rent out their units. Renting instead of buying allows you to remain flexible (rather than being married to the same location) while reaping the desirable benefits of a timeshare unit.
Additionally, renting a timeshare property can garner incredible deals: A seven night stay at the luxurious Omni Hotel in Cancun, Mexico will cost you $219 per night for four adults. Renting a timeshare property at the same hotel for the same time period for six adults only cost $129 per night when LearnVest checked. That’s a steep difference!
To find a timeshare to rent, check out Ebay and RedWeek, a site devoted to timeshare rentals. Because you’ll be dealing with an individual timeshare or vacation club owner rather than a hotel, be extra cautious to ensure that the deal is legitimate. Call up the hotel ahead of time to verify that the owner in question does, in fact, own a timeshare at the property. Additionally, ask the timeshare owner for references from previous satisfied renters.