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

We own a prime week timeshare in Cancun that we used when we first bought it, then came kids and it wasn't practical (we own a studio) or worth it for us. We don't pay a fee unless we use a week (thank goodness!). As others mentioned the maintenance fees seem to go up every year etc. At the time of purchase they would buy back your unused portion but have long since stopped this process, unfortunately and now we have a timeshare with 26 weeks remaining that we can't sell. Would I buy again, no BUT if you're someone who likes travelling to the same place, can get decent airfare and it makes sense for you, then maybe...everyone is different. You can also opt into RCI and exchange weeks we did it once.

You'd have to be nuts. My advice: don't even think about it!

Stay clear, don't even entertain the idea of a time share. You can do much better renting a unit anytime you want. Take it from someone who fell for the usual timeshare hype four different times. You can go the timeshare route if you want to be stuck with the so-called yearly maintenance fees for the rest of your like. Do yourself a favor . . . . DON'T

We got sucked into time shares (I hate to admit it but more than once) and we're trying to make the best of it. My advice... unless you have money to burn, run away as fast as you can. It is the biggest "legal scam" I have ever seen.

We have 7 timeshares, 3 of which are in the Disney Vacation Club (DVC). The other timeshares are the various fixed, float and points types. If I don't want to use the DVC timeshares this year, I can rent the points to several companies that will pay well above the maintenance fees. In my case, I could rent the DVC points I own, and use the fee I received to not only pay all my DVC maintenance fees, but also the maintenance fees for 3 of the remaining timeshares, leaving me with only 1 maintenance fee to pay. As the 3 timeshares are all lockoff units, I can effectively get 6 weeks of usage for zero costs.

I recommend to my friends who want to travel that they should seriously consider owning a single timeshare that can be exchanged into an external exchange system, such as RCI, because of the lower cost of extra getaway weeks. Having said that, I would also steer them towards a reputable timeshare company, and away from too many of the underhanded timeshare companies that are out there.

My wife and I both agree our DIsney Vacation Club purchases were well worth the cost in several ways, but especially one way. For too many years, when vacation time came around, we stayed home and did chores around the house. Now, we take 5 weeks of vacation a year, all over the country, and bring friends and family with us on most. There is something to be said for not waiting until you are too old to enjoy life, and the timeshare units have been encouraging us to release the grip we had on working, or maybe it was the grip work had on us, and relax. We took friends to the gulf for Mardi Gras this year, we are taking our kids and grandkids to the beach for spring break, and to Disney World in summer, we are planning a family reunion in the mountains, and we are finally going to Orlando for a weeks getaway, just the 2 of us. We couldn't afford to do the types of vacations we do, especially taking other families with us, without having the timeshares we have.

I have 1 lockoff timeshare that I wouldn't buy now, if I knew what the actual unit's layout was when I bought it. I like the A side, but not the B-side unit. But it's a summer week that trades very well. I exchanged both A and B units separately and in return, garnered a 4 bedroom unit in spring, and a 3 bedroom unit in fall, both my favorite times of the year to vacation.

Would I honestly buy a timeshare again, if I knew then what I know now? Yes, without question.

steven766 wrote:

Would I honestly buy a timeshare again, if I knew then what I know now? Yes, without question.

Well it sounds like you did your research before you jumped into the timeshare pool. It looks like you have the means and liberty to travel and spend good money while you travel. So it seems like the timeshares you bought were the right fit for you.

Unfortunately, you are in the minority. Many people do not have the means and liberty to travel like you do and, therefore, owning a timeshare would not make sense. So for anyone considering buying a timeshare, I recommend doing a lot of research and soul-searching first before buying even a cheap resale.

We purchased a Marriott Streamside in Vail timeshare many years ago when our children were young. We did so because we love skiing, and the last time (thank goodness!) we rented for a week in a good location (we could walk to the Gondola) it cost over $5000! This was ridiculous!

Having a timeshare in a luxury location really works for our family. We bought a 2 bedroom/2 bath unit with pullout couch (so it sleeps 8 very comfortably). Also, I insisted there be a full-size washer/dryer in the unit as it's so convenient.

When we aren't using our timeshare in Vail, we trade it in for a variety of resorts for "free weeks." (Actually NOT free - we pay about $185.00 per week to use the weeks.) However, $185 for a 2 bth/2 bedroom unit at another resort is FAR less expensive than renting the same condo. (I just went to Disney World with our kids and only paid the $185 for a gorgeous condo for 7 days!)

Anyway, it's been really good for our family because the places we like to vacation (especially Vail, and a few others, such as Hawaii) are SO EXPENSIVE. We've made our Vail unit work to our advantage. Good luck to you and your family!

Hey Don't buy. Unless you are going to buy a "sure thing" week like Christmas, Presidents or spring break weeks, you can vacation very cheap. No need for a time share to get a deal. They are not that easy to trade and you always have to do a lot of work to do so.

So buy the "golden weeks" or stay away. Only exception buy in your home town so you can use the facility as an owner. Good luck. Sue

Have you ever rented your timeshares? Not only can you rent them out yourself, but I have great luck in having my parent company rent them out for me. I usually get at least my maintenance fees and sometimes a little profit on top. This is when having one or more (not too many) timeshares profitable or at least manageable.

I purchased my first timeshare in 2014 even year usage. I bought it with the intention of exchanging to different locations. I used it twice, once by exchanging it, and once with an extra vacation through RCI. My costs (excluding the purchase price) for the 2 weeks were about $1250, including the membership for RCI. That seems very reasonable for 2 weeks.

So far I am very happy, and think it is a good deal, but only if you are willing to commit to using it, and are not overly picky about when and where you exchange into. It does also require you to do some researching to make sure you go somewhere you will enjoy. But, I find that part fun.

Many people are happy with their timeshare weeks and have used them for with pleasure for 30+ years. Ignore all the negative comments, as with any product on the market, learn how to use it and make the most of it. Owners have numerous options to use their week and it remains a very reasonable way to enjoy a vacation.

mark2218 wrote:

I purchased my first timeshare in 2014 even year usage. I bought it with the intention of exchanging to different locations. I used it twice, once by exchanging it, and once with an extra vacation through RCI. My costs (excluding the purchase price) for the 2 weeks were about $1250, including the membership for RCI. That seems very reasonable for 2 weeks.

So far I am very happy, and think it is a good deal, but only if you are willing to commit to using it, and are not overly picky about when and where you exchange into. It does also require you to do some researching to make sure you go somewhere you will enjoy. But, I find that part fun.

mark2218 wrote:

So far I am very happy, and think it is a good deal, but only if you are willing to commit to using it, and are not overly picky about when and where you exchange into. It does also require you to do some researching to make sure you go somewhere you will enjoy. But, I find that part fun.

Good for you for doing your research and finding something that you like. Timeshares aren't all that bad. You just have to do your research and figure out what works best for you. For most people though (myself included), they conclude that owning a timeshare just is not practical for their travel habits.

It's just a shame though that various timeshare companies, developers (and their sales people), and the scam artists out there have given the timeshare industry a black eye.

#1 don't buy with the thought of it as an investment, it has 0 resale value. It gives you an excuse to vacation with some degree of luxury and the feeling of belonging to a like group of people. I am now a widower and am taking my 2 daughters, husbands and my granddaughter to Puerto Vallarta next month. Without being a timeshare owner l could never afford such luxury. I bought my timeshare years ago, and dumped the ones that were lousy deals, Uncle Sam picked up part of the loss.

You may also want to consider a timeshare which would be under the RCI program. This way you are not restricted to one location but can travel globally. With my family, we have visited Europe and Middle East, and of course domestically and Canada.

R/

You are in the wrong place to make such a suggestion. .......To anyone thinking or reading this previous post.........BEWARE...........Something doesn't smell right !! To advertise here is JUST WRONG..............

I reported him to Redweek

THANKS DON............Some people..........

I am new here and I think it is ok if you are there are options to travel to different locations. Is it ok to reply to this thread. I speak for a living and so a timeshare is great to travel when there is not business involved. Just for leisure only.

By all means, contact a member of the Licensed Timeshare Resale Broker Association in your area. There are 64 members in the US and Hawaii. I have surveyed all of them, received responses from about 20 members and have concluded Hilton has the best secondary market should an owner need to sell. Hyatt, Disney, Starwood and Marriott at least have some secondary market value.

http://www.licensedtimeshareresalebrokers.org/

Also, type the word "complaint" after any timeshare company you are interested in. It would have saved us years of grief if we had done that. We used and enjoyed three fixed weeks of timeshare for over 25 years without a comment, question or post until Diamond Resorts bought our ILX resort in Arizona. Just know with Diamond and Westgate there is no secondary market, unlike all or most of the other timeshare companies. Even with the better companies, don't expect to get back more that 5% to 15% if you need to sell. Do your homework. You will be glad you did.

By David Wren - dwren@thesunnews.com

This I linked to one of my articles: Timeshare tips

Things to consider if you are thinking about buying a timeshare: • Ask yourself how likely are you to use a timeshare year after year? Are your vacation plans sometimes subject to last-minute changes? How much do you genuinely love the place where the vacation units are based? You’ll be responsible for the costs of your timeshare whether you use it or not. • Don’t view this as an investment. Like new cars, timeshares tend to depreciate quickly – and they’re typically difficult to resell. • Don’t finance. If you’re sure you want to pay for a timeshare, do so up front in cash. Most vacation developments will allow you to finance the purchase, but their interest rates are often high. • Watch out for maintenance fees, which can cost $500 or more per year and can rise at rates that equal or exceed inflation. Find out whether your plan has a fee cap or an inflation-protection plan. • Walk away if you feel pressured. Should you find yourself across from a high-pressure sales person, either leave or tell the salesman to back off. • Ask a lot of questions, such as: What are the maintenance fees used for? Do I lose my points if I don’t use them? Can I bring pets? • Ask for a copy of the property’s current maintenance budget, and find out what’s done to manage and repair the property. Definitely visit the resort and ask multiple owners about their experiences.

Source: Bankrate.com; NBC News

Read more here: http://www.thestate.com/news/business/article13846319.html#storylink=cpy