If you can't afford the luxury of a second or vacation home, a time-share may be the next best thing. A time-share is a long-term vacation purchase that gives you the right to use a vacation home for a specified period each year.
Be sure to ask the right questions, do your "due dilligence", and research, research, and research! There are some very good timeshares out there, however there are also some very questionable operators who are complete scams. Here are a few steps to follow when shopping for a timeshare in
1. Shop before you buy. Take advantage of promotional offers by developers that allow you to visit resorts with inexpensive or free "try-out" vacations.
2. Evaluate the appeal of the time-share location based on your lifestyle and recreational preferences.
3. Question current owners about their satisfaction with their time-sharing arrangements.
4. Learn about maintenance fees associated with the time-share unit. Maintenance fees (usually several hundred dollars per year) should cover the costs of cleaning, landscaping, maintenance, taxes, utilities and other necessities.
5. Research the owner/developer. Check with the BBB, make sure that the company has no complaints.
And remember, the Fair Trading Act gives you 10 days to cancel a time share contract. You do not need a reason to cancel. The 10-day period starts the day after you get your copy of the signed contract.
Web link to the Service Alberta website recommendation on buying timeshares:
http://www.servicealberta.gov.ab.ca/1010.cfm
