We are thinking about a Timeshare Purchase, whats your honest opinion???

Never buy but instead rent from an existing owner. Win, win, win

lorraine36 wrote:

There are many schools of thought. If you buy a timeshare in a location that you love, you will always have a vacation spot to go to. However, if you are one who likes to travel a lot and see different places, a timeshare becomes a burden. Also, always buy it from someone other than a timeshare corporation. You will save thousands of dollars. As for trading, that'a a crap shoot. The spot you want to go to is hardly available and if you're thinking of trading in Europe, it will almost always be unavailable or the timeshares are far from tourist attractions. You may have to travel many miles to get to the center of anywhere. So, my advice is this: Pay close attention to the maintenance fees (which are ever rising) and think about renting a timeshare from other owners instead of buying one yourself. All us timeshare owners get stuck and would love to rent our timeshares to at least cover our maintenance cost. So it becomes a win for you because you never had to buy it and you're not stuck going to the same place every year.

Lorraine36 gave you good advise. We own three timeshares and I love all three, but the truth be known I would rent through Redweek, or VRBO and not buy.

My husband and I have purchased two different timeshares and wish we would have never done so. We will never get any money back out of them. The taxes and maintenance fees go up every year and the availability to use them when we want are very limited. I know without a doubt that we could rent something for a week far less than what we are paying in annual dues. I wouldn't do it if I were you. You can buy a week on the secondhand market for way less than what a resort developer will sell you for the same exact thing.

johnh1645,

I own a point system timeshare through Sapphire resort formerly Geo Holiday. I would not recommend buying timeshare. It is better to rent from timeshare owners that way you don't have to worry about paying a yearly maintenance fee on top of your initial purchase of timeshare. I hope this help.

johnh1645 wrote:

Hello all,

My wife and I are new to Red Week and joined to start doing some purchase research.

We love Marco Island Florida and have been renting a home for the past couple years, we like to travel in late Sept.- early Oct, the "off season". We like having our own pool and spa, but its a pain to drive and a walk to the beach, then try to find chairs. We visited the Eagles Nest and liked what we saw, there are many opportunities to buy a flex share there for around $3000.00 + yearly fee's approx. $1200. Even if we can catch a "deal" on a house its at least $1600+.

What's your honest opinion on all the above and more?

So, I checked out the postings for Eagles Nest. Looks like a nice resort and it is affiliated with Hilton Honors, etc. I see that on Redweek someone is selling for $3,000. in the high season, but someone else is selling for $23,000. That made me wonder WHY??? Also, maintenance fees over $1,000 are pretty steep, but I do see that the rentals are pretty high. If this would be your only timeshare purchase and you really like going there, I guess I would say investigate a little more, but go for it. It appears you could rent it for a pretty good price if can't use it or exchange it for Hilton Honors or other Hilton points and you could join RCI or II and exchange it. Remember though that is another cost to join the companies and then pay an exchange fee. Not a lot of money, but at least a few hundred all together. One last thing, I didn't see any closing costs mentioned from the owner that was selling the $3,000 one. Make sure you ask about that. I said one last thing, but then I though of this...maybe rent for 1 year and see what it is like to stay there. Only problem, you might not get that $3,000 offer again, although I do find it too good to be true and you know what that means!!!!

I love my two ownerships up here in the Northeast. I have owned one for 16 years and the other I acquired for free this past year. I suggest you go on TUG (Timeshare Users Group) as a guest and ask questions. They have a form that you can fill in to see if timeshare ownership would be suitable for you. The members there (I am one of them) are great and they will help you and give lots of specific advice to aid in your decision. You can get timeshares for free on EBAY, Timeshare Nation (where I got my last one) and also on TUG listings. I am sure there are some listed here on Redweek. Also- another company is SUMDAY. Go on TUG- start there before you spend any money or do anything drastic.

I will say before we bought our first timeshare we stayed there a couple of times to make sure we really liked it. At the time, we bought from the developer, something you should not do now as there are so many resales and free timeshares out there.

Also- there is a good Facebook page you might want to join= Timeshare Resort Users Group. Many people post timeshares for sale or rent on that page. Also, you can ask about any resorts you are interested in, etc.

There you have it. A lot of resources and a lot of homework for you! Good luck!

emiliot5 wrote:

johnh1645,

I own a point system timeshare through Sapphire resort formerly Geo Holiday. I would not recommend buying timeshare. It is better to rent from timeshare owners that way you don't have to worry about paying a yearly maintenance fee on top of your initial purchase of timeshare. I hope this help.

johnh1645 wrote:

Hello all,

My wife and I are new to Red Week and joined to start doing some purchase research.

We love Marco Island Florida and have been renting a home for the past couple years, we like to travel in late Sept.- early Oct, the "off season". We like having our own pool and spa, but its a pain to drive and a walk to the beach, then try to find chairs. We visited the Eagles Nest and liked what we saw, there are many opportunities to buy a flex share there for around $3000.00 + yearly fee's approx. $1200. Even if we can catch a "deal" on a house its at least $1600+.

What's your honest opinion on all the above and more?

Diddo to those on the side of DO NOT BUY a timeshare from anyone; i.e. developer or resell! You are locked in for life with phony yearly so-called maintenance fees which (in my case) are $1400/yr Marriott 2bed in CA, $2300/yr Marriott 3bd in HI, $3600/yr Shell points in Hi. These fees must be paid each year, whether you use the unit or not. Most of my "maintenance fees" have gone up 15-20% each year since we first purchased in 2007. The only way to get rid of this burden is literally give away your unit at anywhere from 0 To 10% of the original cost to some uninformed buyer (like yourself). Believe me, DO GET CAUGHT UP IN THIS RACKET! ! !

What you own today can be resold tomorrow, as management companies merge or are acquired, and the quality and value you invested in will be lost. This has happened to us twice. Better to rent, and have no obligations. Save your $3000.

Well said Lorraine!] Definitely do not purchase from a Timeshare seller as you can purchase great places sometimes for $1 that are worth thousands because the people have to cut their losses so they do not have to pay the maintenance fee every year. I have purchased pre-owned timeshare so cheap that it was paid for after staying in it once.

Happy Travels :-)

Never buy from the developer. If you wish to acquire one, go on Redweek and search out what is available on the resale market. For example, Polo Towers in LV has a 2 BR for $0.01, yes a penny and up. If you want to be in a specific location, then get a deeded timeshare which gives you a specific room and location for a week. You get the view and floor every time. It is yours (not just any room that the front desk assigns to you). Your cost to get it may be escrow fee and then the annual maintenance fee. Make sure you can handle that.

Don't buy from a small company. Only publicly traded comapnies listed on the NYSE are properly regulated and only buy from a licensed real estate broker. Only buy in the US if you a US citizen. Don't buy in Mexico. I have owned a few time shares and recently converted all of them into points with one of the big 2 companies...and love the points. I have never had a single issue using them and you get what you pay for.

I have bought one of the resale market, but its why people have problems exchanging (I did...and learned the hard way) and you are not part of the system. You will get nickel and dimmed to death.

Most people, I know who have problems try to "out smart the system" and buy something for a dollar. Don't buy anything on this resell market. Its all crap....its the left overs. All the big companies buy the good ones before we have access to them. I Would say 3% of the resell ones are worth it. Make sure you read all the fine print and be aware that most of the resell companies actually lie more then the actual timeshare sales agents. They are both on commission. Location, Location, Location is critical. I would never buy in Florida or anywhere where the supply exceeds the demand. Only buy in a high demand location or you will never be able to trade it.

Why would someone in Hawaii want a week in Vegas? Rooms rent for $50 dollars a night in Vegas.etc.....

Buy right the first time or don't buy at all.

hope that helps.

I disagree about what you said about resales. You just have to know what you are buying. Mine cost zero $ and it is a prime summer fixed week.- yes- in an older building but it has been totally upgraded and has a great view.

I say- always buy resale- with the exception of maybe a few types of points/properties.

In fact, try to get your timeshare for free or very little $.

Try Timeshare Nation, Sumday, EBay and TUG.

If your going to the same place every year or every other year then of course it's not a bad idea. Remember: 1. It's $200+ to exchange through RCI right now and also an annual fee of 100 or so. That's an additional $300 a year. Thus the "nickel and dime" stuff plus a lot of resorts have additional weekly fees like resort or energy fees, taxes, or so many weird fees it drives me crazy. I have learned the hard way.

My point is that don't think your the only smart one doing this. Huge companies do this professionally. My experiance is most friends or people I meet that buy resell will have issues. Just remember that it is buyer beware.

IF IT SOUNDS TOO GOOD TO BE TRUE IT MOST LIKELY IS. Why would it cost a dollar? Seriously!!!! Why?

I also was speaking in general. Their are good deals but my opinion is that Most Resells are not even worth one dollar. The maintenance is either too high and also buying a property sight unseen is absurd!!!! NEVER BUY ONE SIGHT UNSEEN UNLESS MANAGED BY A PUBLIC COMPANY. AND I MEAN NEVER!!!!! Public companies have to maintain them to a certain level and have their fees overseen. Private companies don't.

I bought one in Orlando and the maintenance fees went up $500 dollars the very next year. Huge mistake and will never do it again. It was run by a private company and was not maintained plus the also added 10 percent to manage it.

Either way Everyone is trying to get paid a commission. All the websites you listed are also run by brokerage companies.

I am trying to find a true FOR SALE BY OWNER....if you have any tips for that please let me know.

I spend way too much time looking through these ads and most are not worth the dollar they are asking.

I am at that point my where I am about to give up. Sad but true.

maryannp12 wrote:

I disagree about what you said about resales. You just have to know what you are buying. Mine cost zero $ and it is a prime summer fixed week.- yes- in an older building but it has been totally upgraded and has a great view.

I say- always buy resale- with the exception of maybe a few types of points/properties.

In fact, try to get your timeshare for free or very little $.

Try Timeshare Nation, Sumday, EBay and TUG.

Bottom line is you have to d your due diligence and know what you are buying or what you are acquiring for free.

We had rented a few times at the resort that we eventually ended up getting the free timeshare, so we knew all about the resort and the area and we knew we wanted to vacation there every year and could exchange it if we had to. It is within driving distance so no airfare. You just have to be smart about it but you can absolutely get a decent timeshare for free or for very little money. Most timeshares are worthless on the market but very worthwhile for your vacation memories if you now what you are doing.

Go to RedWeek.com and search there. It is a legitimate site and has escrow services to make the legal transfer.

When you buy you have an obligation for life, when you rent you leave all the maintenance fees behind. I've owned and rented and choose to rent hands down.

I would not do it. I paid $43k in 2006 for 1week at the Marriott Ko'olina club great fun but look at the purchase page. Today the highest ocean view resale is only $5k. Since then I added a second week and found at this higher level trading and booking is very easy. So if you think it is an investment it is not. Second market resales come with less benefits so beware.

johnh1645 wrote:

Hello all,

My wife and I are new to Red Week and joined to start doing some purchase research.

We love Marco Island Florida and have been renting a home for the past couple years, we like to travel in late Sept.- early Oct, the "off season". We like having our own pool and spa, but its a pain to drive and a walk to the beach, then try to find chairs. We visited the Eagles Nest and liked what we saw, there are many opportunities to buy a flex share there for around $3000.00 + yearly fee's approx. $1200. Even if we can catch a "deal" on a house its at least $1600+.

What's your honest opinion on all the above and more?

Here's my opinion. Fixed weeks are great if you know you want to go to the same place every year. Points are only good if you are extremely flexible. My parents have a timeshare at the sunset cove in Marco island. It's gorgeous a gorgeous 3 bedroom 2 bath. It's either the first or 2nd week of August. It's a fixed week, but we have traded it in for hgvc points many times. The has since been taken over by holiday inn vacations, so I'm not sure if we sold it, that it would transfer as HGVC or holiday inn.

Michelle

Hgvc members were allowed to remain with Hilton. Any sales after the transfer to Holiday were not eligible to use with Hgvc. The unit would revert back to a fixed week only and if the new owner wanted to enroll with Holiday Inn they would have to buy additional Hivc points in order to enroll.

Wish we would of knew about redweek before we bought points which were were led to believe we were trading in our deeded property week for points only to find out we were lied to. DO NOT DO IT. You can do a lot of traveling on what they charge for points or deeds. Look at it this was if you paid $5000 for a free week every 3rd year plus maintenance fees, and RCI membership fee. That is one pricey week!