One of my friends who is a Internet marketing consultant is currently considering buying a timeshare in Florida. I’ve been helping her find a figure out how to buy a timeshare, and I’ve learned a few tips that might help you if you are considering buying the same sort of property:

• You can’t be in a hurry about it. My friend is busy at her job, is learning how to become a US citizen, and is currently looking to get her citizenship. Despite her hectic schedule, she won’t scoop up the first timeshare she sees. Already, she’s going about it the smart way, comparison shopping extensively, and researching carefully. She’s researching not only the timeshare companies, but also the management companies. She’s asking current and past owners of the timeshares about their experiences with their properties, and is comparing prices, amenities, and as well as appreciation rates over time. She’s noticing that there are a lot of timeshares that are duds, but also quite a few that seemed to be good deals.

• You have to be realistic. Buying a timeshare can save you money on hotel costs if you travel to Florida every year, but not every timeshare will save you money. Some timeshares are quite luxurious and therefore quite pricey. Also, there are many timeshares that have additional costs, such as management fees. It’s important work out the cost of an average hotel room, the length of your stay, as well as all the costs associated with buying a timeshare. This is the only way my friend has been able to tell which timeshares are a good deal and which ones are not.

• Keep in mind incidental savings as well as unexpected perks. My friend was excited to discover that most timeshares are actually more like apartments than hotel rooms. They have living areas, sleeping areas, and kitchens. This is great if she wants a friend to visit her timeshare, since it means a friend can crash on the pull away sofa. It also means that she can save money on eating out. On our vacation, we estimate that we spent about $100 a day eating out. Mind you, we were on vacation, but my friend can easily slice that bill in half or even much less when she buys a timeshare, since she will be able to buy food locally and make her own dinners at home. Even if she does decide to go out to eat once in awhile, she will be spending a least one or two meals every day eating in. She will also save money on transportation costs. She is looking at timeshares that are close to the attractions she most wants to visit, so she will not have to rent cars every day in order to get to the places she wants to go.

• Look for flexibility. It’s nice if you can rent out your timeshare or swap weeks, since you can easily make money when you can’t go on vacation and can easily adjust your vacation plans to your schedule.