We Don't Own a Timeshare Anymore!

As of yesterday, when the final sales paperwork came through, we are no longer timeshare owners (HGVC@the LV Hilton, New Years Week).

We decided to buy a second real home, so just before Christmas we made an offer on a townhouse in Las Vegas (short sale, still in process, owner accepted offer, just waiting for the lenders bank to accept it). It would not be in our budget to have both the second house and TS, so we sold the TS.

Maybe someday down the road we will buy a $1 TS or another cheapie off ebay or here on TUG, but for now timesharing isn't in our plans. I think we will miss some aspects of timesharing, but for now this is what works for us. We recently did a quick hop over to Vegas (for business) and stayed at the South Point Hotel and even though the room was nice, it still isn't like a 1 or 2 bedroom condo. So we will miss that.

But since our children have grown (1 in Canada now & our daughter at home), they just don't travel as much with mom and dad anymore so more rooms is not much of an issue. So, for Cora & I, a hotel will work when we decide to travel. Our daughter would rather stay home with her dog rather than get away with us!!! So she wants the house to close in Vegas so she can bring her dog! Since Vegas is a regular get away place for us, having the house there is a real plus if the whole deal goes through.

But even though we are no longer timeshare users, I still plan on staying here on TUG and participating...after all it's rather addictive as some of you well know....

Just thought I'd share this recent development.

and people used to brag on this site that they bought a timeshare

Rick, you know you can still use those last minute getaway vacations through RCI and II. And with all the rentals around, I suspect you aren't quite through with timesharing yet.

Be sure to let your TUG friends know when you're accepting reservations at the new Chateau Gallagher in Las Vegas. I know there will be a waiting list!

Dave

Ever Changing Lifestyles

Timesharing products have changed over the years, and people's life styles also change.

I believe only l0% or less of the population in the US owns timeshares.

So many seniors worry about leaving their adult children timeshares.

My wife and I are seniors, and for now timesharing works for us, but in 5 or 10 years, we will have to most likely give away our timeshares.

We have enjoying meeting so many good friends via timesharing.

We are in Cocoa Beach now, enjoying our resort and friends that come here every winter.

rapmarks said:

and people used to brag on this site that they bought a timeshare

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When we first bought, I was one of those people...

BMWguynw said:

Be sure to let your TUG friends know when you're accepting reservations at the new Chateau Gallagher in Las Vegas. I know there will be a waiting list!

Dave

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Actually, it will be Hacienda Corazon (my wifes name) since she will be the owner.

london said:

Timesharing products have changed over the years, and people's life styles also change.

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Yes, I believe that is what happened for us. When our kids were smaller it was great. But now it's really only the two of us and our needs/desires have changed.

Though, as expressed by Dave, I don't think we are completely out of it. But now it will be rentals if we go that route.

We are also going to be getting out of timesharing. After doing it for 23 years it no longer suits our travel preferences.

Good luck with your new second home in Las Vegas.

We are in the same process.. Just bought 40 acres in Clark fork Idaho and want to start putting that descretinary income towards building our retirment home... that means it is time for the timeshares to go...at least most of them. We plan to keep a couple for those trips to hawaii. Hope to go from 9 down to 3 or 4.

I don't think I'm far behind you in 'getting' out. When the kids were small a TS was great, but as they got older and on their own, my dreams were not theirs. Plus, I've got so damn many points now that I wonder how I can spend them before I meet my maker...selling the TS's would help.

I have one of my kids names with mine on 4 of my 6 TS deeds and mentioned to them that I was considering selling...only to find out that they actually do want them, but maybe not with the old folk. Maybe having to pay the MF would convince them otherwise.

Brian

If I had my druthers, we'd get out, but my DW is so enthralled with the
TS'ing option that she set her sights on us buying one in Gatlinburg...

"Now, we can visit my family in Knoxville, every year!"

Oh, joy.

Well, we're still going strong. We own 5 lock-off units in Ft. Lauderdale which we use as our winter "snowbird escape". Owning and using these weeks saved us from buying a full year condo that we would, at best, have used for only about 4 months of the year. The cost of owning and maintaining a full year condo would far exceed the m/fs on our timeshare weeks. Our Florida timeshare is built like a fortress, so we don't have to worry about what is happening during hurricane season, or what else might go wrong in our absence.

We also own 3 two story timeshare units on Cape Cod in the summer. It's a drive-to destination for us and a place where family members often join us. This is what we dreamed of doing in retirement and so far it is working like a charm.

We do have additional timeshares that we would have a tough time selling or giving away. They served us well for years for exchanging, and most of them still do thanks to all the knowledge I have obtained from TUGgers through the years. Fortunately some will soon reach the end of the RTU (right to use ) period. Others we pfd to obtain nice extra vacations.

After over 100 exchanges all over the world, we now appreciate owning weeks where we want to vacation every year. These are really the only ones we would keep if we could press a magic poof button and make all the rest go away.

Rick, that's cool! What part of town is it? We'll almost be neighbors.

ricoba said:

We decided to buy a second real home,

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Congratulations, Rick! Maybe TUG needs a new addition to either the Classifieds, Sightings or Non-Traditional Interval Ownership sections for "TUG-Insider Vacation Home Exchange." I'm still scratching my head on an acronym ... best I have so far is PHX. Outsiders might think we are discussing an airport ... insiders will understand this as "Private Home eXchange." ;-)

Best wishes on your short sale process!

Congratulations!!! I hope the sale goes through for you. It is my families dream to own in Florida...Looking at various areas now. I am new to TS and still excited about the three I own. Too young to retire but this is such a great time to buy a home in Florida ...

I can certainly understand why you got out of timesharing; we have been having a lot of problems using one of our timeshares the last few years.
The Vegas home sounds like a very good idea since you visit there often.

DH and I have weeks piling up on deposit at RCI from one of our timeshares - we co-own it with our best friends. Every time we start to use it, one of our elderly parents becomes ill and we have to call off the trip at the last minute. In fact, I am getting ready to pay for an extension of one of our expiring weeks.

Plus, one of our friends we co-own with now has major physical limitations - it is very difficult to find accommodations that she can manage. She has had double knee replacements and one hip replacement, and is not doing well with these. So no steps is always a requirement for us - and that is not easy to trade into with a blue week.

Our other timeshare is a fixed week we use every year to visit family - so that one will always be used as long as we are able to make the trip.

We sold ours off as well but I am so addicted to TUG and the good information here and the possibilities of renting and the fun and the laughter and the hugs and the tears and the friendship that I just can't stop visiting my tug friends daily.

We need to cut back on our ownership, but the last time we planned to do that someone gave us one and we decided to add a week at one we liked. Some people never learn. Timesharing is not the cheap vacation unless you use your own units/weeks. Of course a second home is not cheap either and we don't want to worry about the upkeep. Anyhow TUG is a great place to chat and get information so stay in touch.

Rick, are you going to retire in Vegas ? Good Luck

Thank you all for your kind wishes. I am surprised to read how many of you have considered or already have gotten out of timesharing. I agree it's wonderful, but when priorities change, we need to change with the priorities.

Karen G said:

Rick, that's cool! What part of town is it? We'll almost be neighbors.

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It's the eastside of town. Just off Pecos-Mcleod, between Flamingo & Desert Inn. Our locals place will be Sam's Town.

easyrider said:

Rick, are you going to retire in Vegas ? Good Luck

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Yes, we are considering retiring to Vegas. But that is still open.

ricoba said:

It's the eastside of town. Just off Pecos-Mcleod, between Flamingo & Desert Inn. Our locals place will be Sam's Town.

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That's cool. It's pretty close to our church so you'll have to come sometime.

Rick, Congratulations! I hope the sale goes through for you, and I'm glad you're going to still hang out here. I enjoy your posts, and would be sad to see you go.

Congratulations on your second home

london said:

Timesharing products have changed over the years, and people's life styles also change.

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I agree.

I've never planned to own my timeshares forever. However I don't see us getting out of timesharing for at least another ten years unless something dramatic happens in the industry. We'll most likely give away our timeshares as well when it no longer works for us and/or we simply want something different.

Few ownerships = happier owners

london said:

Timesharing products have changed over the years, and people's life styles also change.

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We have always purchase our timeshares to use not trade. A multi-resort system like Wyndham offers the chance to "use" at various resorts throughout the system as well as low cost access to RCI / II - a great way to go if you want different locations over returning to the same each use period.

But life and lifestyles DO change. Now we are very happy to downsize our ownerships to 2 or 3 key places we have always wanted to own at / use. Except for our Wastegate - hopefully soon to be history - we are down to thpse two key ownerships we plan to maintain.

Fortunately we are fully aware of the types of timeshare units available and how great they tend to be compared to hotels. So we plan to rent the vast majority of our future timeshare usage which eliminates the unending cost of ownership, the hassles, costs and uncertainty of exchange companies. We can uually get the exact date, unit size & view (!) we desire with a rental - none of which are guaranteed by exchange - without the cost of exchange fees or memberships & avoid things like the infamous "exchange penalty" frpm DVC or the Manhattan Club. We can also rent for less than annual fees in most cases - more savings and better assurance of what we want. Even at the annual fee rate we are saving the purchase cost & unending commitment to annual fees. Win win for us & the renter.

So while we continue to advocate ownership at a resort(s) you really like / want to use overall keep your holdings low & use rentals to fill in where needed. It is a great way to go.

I still have a long way to go before I giveaway my timeshare. I figure when I turn 80 yrs old and can no longer drive to the closest one it may be a problem, lol! As far as my kids wanting them, I don't know if I want them to get saddled down with MFs when they have young families. But I'd definitely keep it for as long as they want to enjoy it.

I no longer own any timeshares but I have about 20 weeks spacebanked, and if the right one came along, I'd be back in the game.