| Author |
Message |
    
lude
Citizen
Username: Lude
Post Number: 67
Registered: 6-2001
| | Posted on Monday, August 1, 2005 - 4:32 pm: |     |
Is timesharing a good idea? Any good or bad experiences? Would love to get your feedback |
greenetree
Supporter
Username: Greenetree
Post Number: 4856
Registered: 5-2001
| | Posted on Monday, August 1, 2005 - 8:52 pm: | |
I'll sell you mine for cheap. We bought in Hawaii before we bought our house. We used to go regularly, but not anymore. We've actually never used it.
I know people who love it. It doesn't work for us. I have too much going on to pay attention to the trades, etc. Also, we tend to do spur of the moment trips. The folks I know who love it either love the trade aspect & getting to go all over the world at low cost or have a set vacation spot that the visit every year.
All depends on your style. |
sac
Supporter
Username: Sac
Post Number: 2411
Registered: 5-2001
| | Posted on Monday, August 1, 2005 - 11:13 pm: | |
What do timeshares go for anyway? |
Sgt. Pepper
Citizen
Username: Jjkatz
Post Number: 1310
Registered: 12-2003
| | Posted on Tuesday, August 2, 2005 - 10:50 am: | |
I don't have one but I'd think that the biggest negative is that you're basically locked into taking the same vacation every year. |
Jason
Citizen
Username: Jason
Post Number: 28
Registered: 3-2004
| | Posted on Tuesday, August 2, 2005 - 10:59 am: | |
A large number of timeshare resorts are affiliated with either RCI or Interval International. These are essentially timeshare week 'banks', where you can deposit your week and exchange it for someone elses. It allows you to stay in resorts across the globe. However, you have to really plan in advance - weeks should be deposited one to two years in advance, and you have to start your searches early to ensure a good chance of finding a nice resort in the place you want to visit.
Timeshare weeks are typically divided into three groups, based upon the time of the year. For both RCI and II, red weeks (peak season) have the most trading power.
My parents have owned timeshare weeks for over twenty years. Sometimes they visit the original location, sometimes they exchange for another location (through RCI), and if they are unable to use the week, they rent out the space through the management company. This typically provides enough income to cover the yearly maintenance cost with a little spare cash on top. |
greenetree
Supporter
Username: Greenetree
Post Number: 4862
Registered: 5-2001
| | Posted on Tuesday, August 2, 2005 - 3:19 pm: | |
Jason & Sarge are both right. I've known families who have TS at ski resorts & love knowing that every year at a certain time, they are going skiing. OTOH, if you can deal with the trading & details of the whole thing, it is a great way to go lots of places.
We just don't fit the category. When we bought ours, a house wasn't in the immediate plans & we thought we'd be going to Hawaii every two years & rent it out the other years. Didn't happen that way.
I'm serious about selling it, BTW. The only reason I haven't done it is because the resale company wants $2500 which is ludicrous compared to the market value. So, I keep sitting on it. |
Barbara
Citizen
Username: Blh
Post Number: 526
Registered: 5-2001
| | Posted on Tuesday, August 2, 2005 - 5:39 pm: | |
We picked up a timeshare at a reputable resort on the resale market for a ridiculously low price -- and it gives us two weeks of vacation each year. Frankly, we bought it for less than a typical one week vacation. Our maintenance is $350/year, and we pay for trades -- but even so, the resort in which we stayed in Sedona was $475 night -- so that one trip covered more than one year's fees. We've gone to Maine, Arizona, Virginia, are heading to a lake in PA in a few weeks, and planning for New Orleans, CA and some other sites. I would never pay full price for a timeshare, and never consider it an investment. Our timeshare is deeded -- so our kids will get it -- and we'll have used our purchase price over and over well before then.
I was the biggest skeptic, but this has worked out well for us. TS and I are both self-employed, the timeshare is 'vacation insurance' against a bad year. |
Compmama
Citizen
Username: Compmama
Post Number: 55
Registered: 4-2005
| | Posted on Wednesday, August 3, 2005 - 3:27 pm: | |
Barbara, my in-laws own a TS and we just traded to go to the Sunterra resort in Scottsdale. We were also at the Sunterra in Sedona for a night--it was awesome! Is the resale market you mention online? If so, what's the website? I'm interested in knowing what kind of TS you have and approximately how much you paid. A PL would be highly appreciated! We listened to their spiel in Scottsdale and got a $34 night in Sedona but the spiel was outrageous...The best deal was for 30K with a $1000/year! Definitely not worth it... |
greenetree
Supporter
Username: Greenetree
Post Number: 4887
Registered: 5-2001
| | Posted on Wednesday, August 3, 2005 - 5:18 pm: | |
No, no, no. There is no reason to buy directly from a resale company or developer right now! This is totally a buyer's market.
I won't tell you what we paid for our TS in 1992 (too embarassed - single dumbest thing I've ever done in my life), but, last I checked, these units were going on e-bay for under $8k. Which is why I refuse to give the resale company the flat $2500 fee; it's robbery.
I've often been tempted to sell it for $1.00 just to screw up their comps & be done with it. |
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