Is there any reason to buy a timeshare?

[hammerhammer]

I have been thinking about it and can't come up with a good reason. I can rent from owners at a fraction of the cost. I can go to any resort and not be committed to say Hilton or Wyndham and I don't have to worry about "one time fees" or maintenance fees going up. I just don't see why I would become an owner. Can anyone tell me why I should?

IF you want to go to the same place over and over again. If it is a nice resort you will average paying a little more by not owning the units if purchased right.

I was in your same exact boat and just bought 2 weeks in a penthouse suite for 20 bucks each week. I can lock them in 364 days out for peace of mind.

So for 20 bucks each week I have a place for the next 10-15 years and I will worry about dumping them then. I have peace of mind for like 20 bucks and save a little over the next 10 years.

 

[dominidude]

AIRBNB and low cruise costs have severely damaged the economics of the TIMESHARE concepts

IF you only need space for one or two people, I agree with you.

But we are a family of six. That means either a whole house on Airbnb or 2 cabins on a cruise.

Trust me, I've search Airbnb and the cruises extensively, nothing comes close to providing the value for each vacation dollar that timeshares provide when you have to travel with 5 other people.

I'd imagine the math would work out similarly if you care about the quality of the places you stay in.

For example, while you may only need a place for 2, if you were picky and wanted resort style accommodations, Airbnb just wouldnt cut it. The quality of Airbnb accommodations leaves much to be desired.

 

[uscav8r]

AIRBNB and low cruise costs have severely damaged the economics of the TIMESHARE concepts

Not mine.


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[missyrcrews]

Mine either....

Not mine.


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Mine either. Root canals are more palatable to me than a cruise. BLECH.

We take at least 6 weeks of vacation a year. We have room to spread out, and are not crammed into a hotel room...hotel rooms cease to be fun once you have more than 2 children! And two rooms get pricey quickly.

Timeshares aren't for everyone...but this family loves them.

 

[uscav8r]

Mine either. Root canals are more palatable to me than a cruise. BLECH. .

You gotta give a Disney Cruise a shot then.


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[John Cummings]

For me it's all about the bottom line cost - so exchanging is a fun hobby for me. Our average per night cost hovers around $80+/- and we stay pretty much in higher end timeshares. (I'm sure that others do even better than that). While I find it fun, my timesharing-owning friends do not share my opinion of this hobby. They think that exchanging is a pain and don't enjoy the process at all. They would gladly pay more per night to have the scheduling flexibility. So it all depends on what is more important to you.

Btw, I got into timesharing after taking a trip to Maui in 2008 where I paid $250/night for an average quality 2 bedroom place in Wailea through VRBO. We now own a place in south Kihei where the maintenance fees are $1000/week and our large 2 bedroom unit has an ocean view to boot. I can't find anything close to that price on VRBO.

You must have very low M/F to only cost you $560 week including M/F, exchange fees, and any membership fees.

 

[John Cummings]

IF you want to go to the same place over and over again. If it is a nice resort you will average paying a little more by not owning the units if purchased right.

I was in your same exact boat and just bought 2 weeks in a penthouse suite for 20 bucks each week. I can lock them in 364 days out for peace of mind.

So for 20 bucks each week I have a place for the next 10-15 years and I will worry about dumping them then. I have peace of mind for like 20 bucks and save a little over the next 10 years.

You must also be paying maintenance fees as well.

 

[missyrcrews]

Umm...nope!

You gotta give a Disney Cruise a shot then.


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I think I'm allergic to all things Disney... we all have different tastes. Mine are pretty simple. I want quiet, no crowds, clean room, and some history or science activities around somewhere for my children to enjoy. The very thought of being stuffed on a boat for more than a day gives me hives. Just not for me!

 

[T-Dot-Traveller]

IMO - AirB&B is totally different experience from timeshares / LIKE BOTH

AIRBNB and low cruise costs have severely damaged the economics of the TIMESHARE concepts

******
In April 2014 - We did AirB&B in Europe - Madrid , Barcelona , Paris , Cambridge UK -3 or 4 nights each . We loved it BUT it is totally different experience than a resort style Timeshare .
<Cost between $ 105 - 165 night >

Similarities - more space and gallery kitchens ( vs. hotel rooms)

*******
Never done a cruise - but I see them as an AI that floats/ don't want AI , and we can't go off and explore . - so probably not -even when we get really old and feeble .

.

 

[WinniWoman]

I think I'm allergic to all things Disney... we all have different tastes. Mine are pretty simple. I want quiet, no crowds, clean room, and some history or science activities around somewhere for my children to enjoy. The very thought of being stuffed on a boat for more than a day gives me hives. Just not for me!

OMG! This is so me also. Don't like cruises. Like getting off the boat and sightseeing- that's it. I hate crowds. I like nature and quiet. I like having room in my accommodations.

The other thing- renting a home from Home Away or airbnb or wherever is nice- have done it. But, I discovered I really like being at a decent resort better. I like seeing people moving about the resort enjoying themselves. I like being able to call a front desk or housekeeping or maintenance if I need to. I like the activities some of the resorts have going on. Just different.

When we rent a home, it is nice, but- heck- we already live in a nice home in the woods. For us, we enjoy the resort atmosphere for a change of pace.

 

[vacationhopeful]

OMG! This is so me also. <snip>

When we rent a home, it is nice, but- heck- we already live in a nice home in the woods. For us, we enjoy the resort atmosphere for a change of pace.

I agree with Mary Ann! I have a house sitting on 3.5 acres ... some is wooded.

I have visited a good friend multiple times in her high rise ocean front condo in Pompano Beach - 20+ 2/2 units per floor. 1 laundry room per floor. She lived there full time with her husband without seeing or hearing anyone other than the security guard making his rounds for OVER 1 YEAR. Scared her when another floor resident walked in behind her while she was doing her laundry.

I must have visited her 10+ times - that is 20 times plus IN and OUT of her condo. I, too, never saw anyone else coming and going; did not hear TVs or phones ringing either. This was a high rise with 1 set of elevators and full time security in the lobby.

That pretty much confirmed I wasn't buying into a "real" condo/HOA .. just too isolated for me if I am a part time area resident.

 

[klpca]

You must have very low M/F to only cost you $560 week including M/F, exchange fees, and any membership fees.

I have some reasonable MF units with high TPU's and I also use lockoffs as to bring the cost down. Also AC's. Without AC's the cost per night would definitely be higher, but I use almost all of them. For my calculations, I use total annual expense divided by the number of nights received in the exchanges. My target cost is anything under $100 per night on average, but this is mostly just for grins.

 

[Colt Seavers]

I have been thinking about it and can't come up with a good reason. I can rent from owners at a fraction of the cost.

Someone is going to have to help me out on this vast collection of deals to rent a week at a "fraction" of the cost. Surely there are great deals to be had with some effort but I can say with some certainty that I have gotten even better deals on multiple occasions by trading a week wisely.

When we went to Hawaii recently I wanted to add a few extra days so I searched the various sites for the best deal on resort-style accommodations. Once cleaning and other fees were added in the best fit I could find ended up costing the same as the maintenance and exchange fees I paid for a whole week at a nicer resort. And when we got there and realized there was no elevator for the older members of our group we had no way to request a different unit.

But of course the main benefit to my family is that we know we have two weeks every year and are committed to using that time at our home resort or somewhere else. I know for sure that our vacations would be less frequent and not nearly as enjoyable if I was having to deal with individual rentals each time.

 

[SeaDoc]

Absolutely, there are great reasons... and...

I love the question - and before you all bite my head off for sharing, yes, I am a Sales exec with Marriott Vacation Club. However, I was a member of Tug long before that and I do own both in the Starwood and Marriott systems. I have been an owner since the late 1980's and being a CPA I have extracted amazing value, year after year. I compare my maintenance fee costs to what it would cost me to stay at my vacation locales and many times find a 1:10 maintenance:rental cost ratio. This ratio has been enhanced due to the absorption of the Ritz Carlton Clubs into the Marriott Destinations Program which I take full advantage of. Also, I take last minute cruises using Marriott destination points where I can get 28 day balcony units for 2 for $850 per person - compared with $5-6K per person rates. Also, I have taken a longitudinal view of my ownership whereby I analyze the amount of capital cost paid for my ownership less the savings year after year and find that I have paid for my ownership over 10 times since my original purchase 30 years ago. If you love to vacation and your vacation style fits into owning your vacations, rather than be subjected to the inflationary costs of renting, then ownership makes sense. If you won't use it, don't buy it... But, our family uses it, loves last minute skiing at 30% discounts on points in the Marriott system, and couldn't be happier, and yes, that's why I enjoy representing this product at Shadow Ridge as a Sales Executive and Chairman's Club owner with Marriott Vacation Club.

 

[Savant]

I have been thinking about it and can't come up with a good reason. I can rent from owners at a fraction of the cost. I can go to any resort and not be committed to say Hilton or Wyndham and I don't have to worry about "one time fees" or maintenance fees going up. I just don't see why I would become an owner. Can anyone tell me why I should?

===========================================

If renting works for you, then this is the correct method for you.

We own 8 Atlantic Ocean Front 2 BR/2br, LV Rm, Din Room and full kitchen Marriotts Vacation Villas in Palm Beach and in Hilton Head.

We own two 2 BR/2br, LV Rm, Din Room and full kitchen Vacation Villas in Breckenridge, CO and Canaan Valley WV, and one 2 BR/2br, LV Rm, Din Room and full kitchen Vacation Villa in Gatlinburg.

All of these were purchased on the secondary market with very little capital. The Marriotts fees are $1100.00 per year and shall increase annually. The other three units vary from $350 - 600.00 annually.

I like that I can buy and sell vacation villas just as one buys and sells used automobiles.

I cannot rent the Vacation Villa for the weeks that I want, in the location that I want, and the view that I want for $350.00 - $1100.00.

I can easily sell my units on the secondary market, and I can plan my 10 weeks of vacation a year in advance and still take a European Holiday.

I am very sanguine concerning the needs of different folks. We don't like "points." We do like a deed.

So folks should do whatever meets their needs. But a 2 BR First Rate vacation Villa on the Ocean or Ski MT beats a hotel unit any day.

 

[Queen]

How do you manage to get last minute 28 day cruise with balcony for 2 at $850 per person compared with $5-6K per person rates using Marriott destination points? I have never seen anything like that. In fact I have often found purchasing a cruise with cash is more economical that using Destination Points to acquire a cruise.

 

[ladyshay]

Reasons for owning a timeshare . . . Or not

I've never posted in this Forum before but have been a TUG member for many years and a timeshare owner since 1992. My husband and I bought from the developer, paid $12,000 for one annual week at the Kona Coast Resort on the Big Island. We had no children and had jobs that allowed us plenty of time to travel.

Fast forward to April 2016, 24 years later. We still have no children and I am a widow; my husband died last July at the age of 89. We were much younger when we bought in to the deal and never gave any thought what it might be like 24 years hence. I now own the week and can use it however I want, but at my age I'm not all that interested in traveling. I did a lot of it in my younger years, enjoyed it, and I'm done.

I read all the time in the newsy email from TUG that many people are successful selling their timeshares. I could probably do that as well and, in fact, may need to because of the escalating fees. I could also rent it out, but I'd rather be spending my time doing something else. No one in my family wants it so if I still own it when I die I'm not sure what will become of it. These are all issues I need to look into, but my point here is that anyone considering purchasing a timeshare should think about the future, not just the present.

 

[Picker57]

I'm with you on the cruise thing; I'm 20 lbs overweight, so, yeah, I really need a cruise..... like another belly button. But....different strokes, etc.

A previous poster mentioned that he spent 6 weeks in Steamboat each ski season. Question: So..do you own 6 consecutive weeks at one place? We'll be on Big Island for 6 weeks this summer in a 3-BR unit (family joining us for our 50th). I seriously doubt there are many timeshare units (a)with 3 BR's and (b)with 6 consecutive weeks available. So this trip we're doing through VRBO. One thing, however, that's only been mentioned a couple of time - size. Because of geezer-related sleep issues, we really need a 1BR unit. Pretty tough to find in a hotel. So even though we did the Stupid and Unthinkable (bought from a developer) we've still enjoyed our timeshare experience.

Again, it depends on one's individual vacation style. We're in Colorado, and it's hard to find a more desirable place within driving distance. So we tend to lean toward Hawaii, and that's a TOUGH drive. Methinks timeshare might work better for folks on the east coast where there's a LOT within driving distance. We're on a points system (SVC), so the choices are a bit limited (I've not had the great Exchange results touted by SVC and II).

...........................Zach

I think I'm allergic to all things Disney... we all have different tastes. Mine are pretty simple. I want quiet, no crowds, clean room, and some history or science activities around somewhere for my children to enjoy. The very thought of being stuffed on a boat for more than a day gives me hives. Just not for me!

 

[cerco2000]

Is there A Reason to Own A timeshare?

I have owned two (2) timeshares, the first for which I paid $2,000 was an owner resale RCI Silver Crown, floating week, 3 bedroom, 3-bath with lockoff in Orlando 1+ miles from WDW entrance. After four years of ownership I tired of going there and exchanged it for other travel locations.The annual MF was $964 and not a hardship financially. My wife's family lives in France and RCI or II had no local French units to exchange during the "shoulder" seasons we preferred to travel there. So we rented a very nice 2 bedroom one bath unit near the French family residence in Levernois (outside of Beaune) for less ($550) than our MF fee ($964) at the Orlando resort. We exchanged it for trips to Hawaiian islands several times, but that too, became less compelling for us to visit annually, since we live in southern California and have pleasant weather year-round.
We decided to sell the unit since our family members did not want to be burdened with the unit and its associated costs. We listed the unit for sale at "Zero" dollars through Redweek.com and sold it for a loss (of the original purchase price of $2,000). The out of pocket cost for doing so was $300.00

Our second unit is an RCI Gold Crown 2 bedroom, 2 bath fixed week (22) unit in a scenic northern Wisconsin vacation area (Minocqua) known for its many fishing lakes and forests (President Eisenhower and Elizabeth Taylor were regular visitors). We have family members living in the area, so the fixed week (22 - late May-early June) is fine since children are still in school and summer family vacation tourist season has not begun. The price we paid for this unit was "Zero" (0) dollars due to the owner needing to dispose of the unit to avoid further financial hardship (the annual MF for this unit is $660). We continue to use this unit due to the family visit purpose. We could rent a unit here due to the low demand tourist season, which remains an option.

Our travel preferences are diverse and eclectic, so buying a timeshare unit for us is not an attractive option, since rentals are plentiful and provide us the flexibility that accommodates our varied travel interests.

My viewpoint is that most new owners have the belief that they will recover their purchase price (not an investment), when the reality is that the supply of units available for sale exceeds the demand for them. Any search for units for sale by owner will show many "make offer" and "zero cost" offers to sell.
It is estimated that a high percentage (50-75%) of the developer price of units offered for sale is marketing cost-related, and not recoverable by the purchaser when the purchaser attempts to sell the unit at a future date. My experience as a buyer and seller support this conclusion and I have used this reality to my advantage as a buyer and accepted the same reality when I attempted to sell the fixed unit I purchased for $2,000. It is further understandable that many of the viewpoints expressed in this discussion thread are buyer biased due it being a TS owner website. The opinions expressed by other TUG members have offered some insights why they are owners and not renters. My experience offers my personal insight why I prefer renting primarily and ownership secondarily.

 

[Denverken]

It's all personal

If you like to travel around to different places then I would say, NO, don't buy. Rent from owners that can't or don't go all the time. I own in Maui at the Marriott and I rent my week since it is not easy to go every year with 3 kids. I love owning since it gives us the space we need and I save money. I also make money when I rent it out. I also rent from owners when I want to try a new place (Harborside Atlantis, Kauai). It all works out well. Unfortunately there is not a good feedback system for rentals yet but I have had really good luck with people.

Keep renting unless you find "the spot" for you and it makes sense to own. And if you ever find yourself considering it, don't fall into the "trade" trap. They will tell you that you can trade all over and stay in great places. It's BS in my opinion. I know some people have luck with it but it seems like a big scam. I haven't had much luck with Interval. Only buy if you want to keep going back or can make money renting (aka high demand places in good season).
Happy travels either way!

 

[SeaDoc]

How do you manage to get last minute 28 day cruise with balcony for 2 at $850 per person compared with $5-6K per person rates using Marriott destination points? I have never seen anything like that. In fact I have often found purchasing a cruise with cash is more economical that using Destination Points to acquire a cruise.

I find cruises within last 60-90 days before departure for 3450 points for two people (maintenance fee cost is $.50 per point, so 3450x.5=$1700 per couple, or $850 per person...

 

[silverlake54]

Hey folks,

My mother and father bought a timeshare from (guess who?), used it, and bought a lock off as well, all at retail prices. Then they turned the unit into RCI points. Dad passed, and Mom no longer uses or pays for the MFs. My brother came to the rescue, and he pays the fees annually, which exceed $1000. He has never used the unit. They could put my name on the deed and remove themselves, but I don't know if I would actually take advantage of the 80k+ points annually. Selling it doesn't seem likely looking at the TUG ads. Giving it away would probably be the only recourse at this juncture. Any suggestions?

Also, we are retiring this year, and I have thought that, since we like to travel, we might very well use the RCI points after reading the above threads. However, we already own a studio on Daytona Beach Shores, a Sierra Nevada Log Cabin, and a large condo in San Carlos Mexico. I'm not sure we would find the time to add more travel, but it is intriguing, as two of the locations are far away. Does anyone see a use to taking over the MFs?

John

 

[MSchleicher]

Giving it away would probably be the only recourse at this juncture. Any suggestions?...Does anyone see a use to taking over the MFs?

You should make a post in the Bargain Deals forum and provide as many details as you possibly can instead of this posting the information within this thread.

 

[silverlake54]

Finding a reason

Thanks. The point is following the threads as to someone who uses points accordingly in this situation. I know we can give it away. I'm trying to justify keeping it, as this thread implies.:ignore:

 

[x3 skier]

A previous poster mentioned that he spent 6 weeks in Steamboat each ski season. Question: So..do you own 6 consecutive weeks at one place?

...........................Zach

I do. There are two complexes in Steamboat that had a few units that were originally built as "timeshares" but with only 5 shares each so they are really more like fractional ownerships. Most have been gradually converted to whole ownership by one person buying up all the shares.

I was lucky enough to own a share in those two complexes so I could spend three consecutive months in Steamboat split between the two units. Sold one and now spend six weeks in one place and the rest via VRBO. I did that because I got a great offer by a person who wanted the whole unit after he had collected the other four shares. Enough to rent for as long in my remaining life as I will be skiing

Cheers