Who has timeshares? Are they worth it? I did a little research and found that 10+ years ago people paid many thousands of dollars for places they are lucky to get $100 for now. Someone tried to sell me one in the Salt Lake area a few years ago and I didn't take it. It sounds like the scam of the century.
Timeshares
- Thread starter Zigga
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eelgrass
Long Time Member
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My parents bought into one near Lake Tahoe. Primarily for snow skiing. They had the last week of December and the first week of January. It provided a central location for the entire family to gather for the Holidays. After several years, we all kinda went our seperate ways, so they sold it for about what they paid for it. It wasn't a bad deal, IMO. Lots of good memories.
Eel
Eel
Wiszard
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Funny that this comes up. My wife and I bought a timeshare in Vegas 3 years ago. There are timeshares where you can go once a year, once every two years or once every three years. We could only afford to do the one where we'd go every three years. So, I called to make the reservation for us for the week we have. The week is June 27th - July 3rd.....in Vegas....weather should be nice! HaHa We paid $5,500 for it and looking back on it, we feel it is not worth it. It is real property which means we have a deed. We own a piece of that property and can sell it at anytime. It is paid off now so we may just keep it. In my opinion, I would not buy one unless you intend to use it every year and it is relatively cheap. The ones in Tahoe or Mammoth will not be cheap...same with those in Mexico hotspots. I'd really do your homework. Good luck.
Steve
Save your money and take vacations when you can afford it. That would probably be your safest bet.
Steve
Save your money and take vacations when you can afford it. That would probably be your safest bet.
K
Knockmdead
Guest
My parents own a couple of different ones and they love them. Between them and my sisters and I we have used the heck out of them. My wife and I just got back from Puerto Vallerta Mex. a week ago and had a great time. We were there for a week and only paid for our food and things we did.
My family has been all over the US at been a couple of times to Mex and Hawaii. My Mom and Dad even were able to exchange one of their places one year and took their friends and went on an Alaskan Cruise.
They seem to be making out pretty good with the ones they own and have seen the value go up on their ownership as well. It is also willable when they die so they can give it to ME (not my sisters) when they go.
Just my thoughts, but he have loved ours.
Jeff
My family has been all over the US at been a couple of times to Mex and Hawaii. My Mom and Dad even were able to exchange one of their places one year and took their friends and went on an Alaskan Cruise.
They seem to be making out pretty good with the ones they own and have seen the value go up on their ownership as well. It is also willable when they die so they can give it to ME (not my sisters) when they go.
Just my thoughts, but he have loved ours.
Jeff
3
3Toes
Guest
I have owned one for ten years, and it has worked very well.
Here is how I went about it.
Timeshares should never be viewed as an investment. Period !!! Chances are you will not get your money out of them. If you don't have the disposal cash to vacation and travel, you still wont after buying a timeshare. Take a very clear look at your life and financial position, and not while you are enjoying a beach or paradise somewhere.
If you didn't travel before, this will not change after the purchase. Evaluate your previous travel history. If you only take a vacation every third or fourth year, this will not change because of a timeshare purchase.
Never buy from the actual property, always buy on the after market. I paid $2800 for a property that was going for $12,000 at the time. This is very important. Contact the actual property before signing the deal. They might charge you some money to do the research, but make sure that the deed is clear for transfer and the tranfer is approved before closing the deal. There might be hidden costs for a transfer. Sometimes they are not allowed. After market purchases are risky, do the research.
Look for low yearly fees. Mine are less then $200 per year for an every other year week. I make up more than the $200 yearly fees in bonus time discounts. Mine allowes me to book bonus rooms for my family and friends. This ammounts to about 20 nights per year, at a fifty to sixty dollar discount per night.
I prefer to have a kitchen and full suite when I travel. Memberships through a timeshare make this possible.
You will not save money through the use of timeshares. You can book travel packages cheaper. Very often these packages cost less then the flights will cost to book separately.
From observations of friends. If you can't pay for the timeshare in cash, you will hate making the monthly payment, and it will ruin your vacation.
Everything listed above works for the points programs, but they are harder to find a deal.
I have not worked a timeshare deal through ebay, but many very reputable real estate companies have them listed. For Mexico properties the prices are about a quarter of what they are at the property.
Once again, be very careful with an after market purchase, but it can be done. I would say that in most cases a timeshare is a waste of money, and you can travel cheaper and easier other ways. But in the right circumstances they work great.
Here is how I went about it.
Timeshares should never be viewed as an investment. Period !!! Chances are you will not get your money out of them. If you don't have the disposal cash to vacation and travel, you still wont after buying a timeshare. Take a very clear look at your life and financial position, and not while you are enjoying a beach or paradise somewhere.
If you didn't travel before, this will not change after the purchase. Evaluate your previous travel history. If you only take a vacation every third or fourth year, this will not change because of a timeshare purchase.
Never buy from the actual property, always buy on the after market. I paid $2800 for a property that was going for $12,000 at the time. This is very important. Contact the actual property before signing the deal. They might charge you some money to do the research, but make sure that the deed is clear for transfer and the tranfer is approved before closing the deal. There might be hidden costs for a transfer. Sometimes they are not allowed. After market purchases are risky, do the research.
Look for low yearly fees. Mine are less then $200 per year for an every other year week. I make up more than the $200 yearly fees in bonus time discounts. Mine allowes me to book bonus rooms for my family and friends. This ammounts to about 20 nights per year, at a fifty to sixty dollar discount per night.
I prefer to have a kitchen and full suite when I travel. Memberships through a timeshare make this possible.
You will not save money through the use of timeshares. You can book travel packages cheaper. Very often these packages cost less then the flights will cost to book separately.
From observations of friends. If you can't pay for the timeshare in cash, you will hate making the monthly payment, and it will ruin your vacation.
Everything listed above works for the points programs, but they are harder to find a deal.
I have not worked a timeshare deal through ebay, but many very reputable real estate companies have them listed. For Mexico properties the prices are about a quarter of what they are at the property.
Once again, be very careful with an after market purchase, but it can be done. I would say that in most cases a timeshare is a waste of money, and you can travel cheaper and easier other ways. But in the right circumstances they work great.
Just seems lame to me, why would you want to keep going back to the same place over & over ? When I go someplace I like to see new stuff.
A friend that has a Marriott time share said they can trade for other locations but when he has tried to its very difficult. His maintenance fee's are crazy too.
Not for me, to much of a wanderlust here.
A friend that has a Marriott time share said they can trade for other locations but when he has tried to its very difficult. His maintenance fee's are crazy too.
Not for me, to much of a wanderlust here.
