Before 2007/2008, anyone find it better to rent versus buy?

The current state of the timeshare situation may be here to stay but let's talk about when times may have been better.

The maintenance fees, exchange fees, special assessments, and other fees seem to add up. Prior to the most recent times, did anyone find it better to rent timeshares, hotel rooms, or private residences more economical than buying and owning timeshares?

I only recently have started to seriously research owning a timeshare and after looking at the costs of owning a timeshare and comparing it to what I think I've paid for various vacations, I am not sure it is worth it. I have not done a full analysis (although I started building a spreadsheet ) but at a very high level, I *think* I have done very well vacationing and finding good deals but I am not sure if that is because my view is clouded by the last few years and nice rates at good hotels.

Welcome to TUG!

I did fine mooching TS several vacations at first. :ignore:

Renting is a recommended tool here at TUG to figure out the resorts you and your family like or dislike AND your vacation style (7 day trips generally). The planning time frame using timeshares is either way in advance (up to 2 years for exchange searches, 13 months for booking preferences within most points systems) OR within 45 days before checking, where you being flexible in size of unit, location and generally, non-prime time is important.

If your job(s) do not allow vacation planning way in advance, might cancel the week before checkin, have school age kids, and want only an oceanfront unit, renting might be the best option. And all those issues, whether renting or owning a TS, will cost you $$$$$.

The options in timesharing can be purchased, mainly when you buy into a system:
Want July 4th Beach Week: you can buy it (either fixed week or 'event' week)
Want OCEANFRONT: you can buy that view.
Want to cancel last minute: you can buy trip insurance.
Travel when school is out: buy into a points system with advance planning.

Hope this helps.

Rent

We have $24,000 invested plus $1800 annual fees and taxes each year.

Whenever we don't use our allotted points, we roll them into deposited weeks in an exchange company. Then, to use one of the deposited weeks, it cost us $189 per.

We have never been able to plan a vacation two years out. Usually we are at the mercy of availability two weeks to two months out. That can make for slim pickens.

For many years I have felt there are enough rentals available, that being locked into timeshares is undesirable.

Look around at rentals. Compare the economics to ownership fixed cost. With timeshares, the price is there whether you go or not. If you find a deal for rent, you still are locked to the timeshare expenses.

I suggest you study here for awhile. Only rent while you learn.

Good luck and welcome to TUG.

I am new
but before getting in TS owning I wrote how much I pay for one week in a hotel or the cost to rent a house or cottage for the same amount of time. Having a TS is much less expensive.

TS for me

In a lot of instances it still might be better to rent than to buy, if you are flexible enough, you can often find a week stay at a TS for less than the MF. Granted it might not be in the prime season.

I usually exchange for two bedroom units during ski weeks in mountain towns that rented, in 2005-7, for 2000-35000. Now you can take 1000 off those rental prices, but they are still substantial. My timeshares cost a few hundred dollars resale and my highest maintenance is 630, so I have 'amortized' each timeshare fully with the first exchange.

That said, if I weren't trading for two bedroom ski weeks and flexible about locations I doubt that cost benefit would outweigh the hassles and risks of long range planning and exchange companies. Now that my kids no longer vacation with me regularly I am trying to give away a unit or two.

njduffer said:

The current state of the timeshare situation may be here to stay but let's talk about when times may have been better.. . . Prior to the most recent times, did anyone find it better to rent timeshares, hotel rooms, or private residences more economical than buying and owning timeshares?

Click to expand...

In my own life, timeshares worked brilliantly from about 1998-2007. At one point we owned seven weeks and managed to use them every year by taking friends with us and/or going on several trips. Our kids were still living at home for most of that time or they travelled with us after they had moved out, and having lots of room was crucial. Having all those weeks forced us to take more trips and that was a good thing. We also lived in the rainy Pacific Northwest and we were always looking for sunny locations to visit. RCI wasn't renting out the prime weeks that members deposited in the earlier part of that time period, so we were able to get some wonderful exchanges. My husband was an airline pilot and we were able to get mostly free airfare, especially nice the last few years of his employment as he had great seniority and that helped with the standby priority.

Now our situation is very different: We live in a resort-like atmosphere with all the activities we enjoy and great weather right here at home. Since my husband has retired from the airline, we don't have that great seniority on the stand-by list and the planes are fuller with fewer flights available. Our kids aren't able to travel with us as much since they are working and/or in college so we don't need as much room as we once did.
There aren't as many great exchanges available since RCI skims them off for rentals. Consequently, we've gotten rid of all our timeshares except one & at least one of our kids wants to go to Cabo every year, so it will be used annually.

For us, taking advantage of last minute rentals on TUG (like a fabulous trip to Yellowstone this past July) and other sources makes more sense now.

I own the best unit (it's the one they picture on their website) in a holiday week in the fl keys. Dividing the price I paid by the # of years I've owned, adding that to the MF and dividing by 7, I pay $108 per night for a 2 bed/2 bath waterfront unit. The unit rents for $186 per night which goes up every year while my total cost goes down as long as the MF's remain fairly constant which they have. It was always a good deal for me and gets better the longer I own it. I bought resale and at a very good price and am sure I could sell it (I wont, passing it on to family when I kick off) for at least what I paid.