Is there any reason to buy a timeshare?

[Picker57]

Ah....the benefits of being in the right place at the right time. Steamboat is a gorgeous area and, I've observed, rather dicey to trade into.....at least via the SVC points system. Oh yeah, there's always the developers' claim that you can trade that studio in Amarillo for an oceanfront at Maui Marriott. Fuhgdddaboudit !!!

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

 

[pedro47]

If there is a specific place that you want to go at a specific time of year and on a guaranteed annual basis, and you can buy your desired fixed week(s) there at a reasonable price in the resale market, then ownership makes perfect sense. That is precisely what we have done for several decades now and it works well for us.
We tried the "vacation home ownership" route some years ago and found it to be much too stressful and much too expensive by comparison. Good riddance to that!

We could not possibly find guaranteed rentals exactly where and when we want to go. Even if we could do so, rentals there would always cost considerably more than (i.e., nearly twice) our annual maintenance fees as timeshare owners, even when taking consistent 4-6% yearly increases in those maintenance fees into consideration.
Moreover, we don't need or want annual, time consuming hunts for suitable rentals, trust issues with "landlords", poorly prepared (or no) formal rental agreements, etc.

That's just us. If someone else wants / demands more flexibility and less firm obligations regarding dates or places, our model wouldn't fit or work as well for them.
Everyone's family situation, work / vacation schedule, finances, objectives are unique to them and different from others. YMMV. Do what works best for you.

This is very sound advice. Purchase resale and save some up front money. Remember this you still will have to shell out yearly maintenance fees.

Good luck and may the force be with you.

 

[taterhed]

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.

Thanks for sharing.

I've never been treated shabby by ANYONE at Marriott (and that goes for most of the hotels as well); although I'm sure somebody would disagree with me. You should rightfully be proud of working for a world-class organization.

FWIW: We almost bought developer-direct twice; once at Hilton and once at Marriott. Rescinded one and thought hard about the other--but ended up buying resale instead. You can believe it or not (it sounds crazy), but I really wish we had bought much earlier than we did--even if it was from the developer. Our family spent less time vacationing that we would have as owners (vs renters etc...) and would have taken more friends, stayed longer etc... IMHO

My kids are both adults now....I would pay a great deal of money right now to buy a few extra weeks of family vacation time back when my kids were still young. But of course....that's no longer possible. I firmly believe that being gently 'forced' to use your vacation time is highly-underrated.

Is that a good reason to buy a timeshare? IDK. It worked pretty well with a boat and a camper.

 

[SeaDoc]

Thanks for sharing.

I've never been treated shabby by ANYONE at Marriott (and that goes for most of the hotels as well); although I'm sure somebody would disagree with me. You should rightfully be proud of working for a world-class organization.

FWIW: We almost bought developer-direct twice; once at Hilton and once at Marriott. Rescinded one and thought hard about the other--but ended up buying resale instead. You can believe it or not (it sounds crazy), but I really wish we had bought much earlier than we did--even if it was from the developer. Our family spent less time vacationing that we would have as owners (vs renters etc...) and would have taken more friends, stayed longer etc... IMHO

My kids are both adults now....I would pay a great deal of money right now to buy a few extra weeks of family vacation time back when my kids were still young. But of course....that's no longer possible. I firmly believe that being gently 'forced' to use your vacation time is highly-underrated.

Is that a good reason to buy a timeshare? IDK. It worked pretty well with a boat and a camper.

Nicely stated Taterhed aka Rob, time is one commodity we can never replace - we don't realize how memorable vacations are to our kids and to ourselves until it gets later in life where time becomes even more precious... You made my day - on Tug BBS!!!, no less... Thanks again... :whoopie:

 

[VegasBella]

Everyone is going to be different. The value of a timeshares lays with the user.

My story:
I got interested in timesharing for two main reasons. The first reason was that my family (mom and aunts) sold our family vacation home. As a child I remember spending vacations there with my grandparents and uncle and aunts and cousins... I have fond memories of those "regular" vacations and was a bit sad when they sold the house even though I had never really gone there as an adult and never took my son there. This idea of a family vacation home was appealing to me but I didn't want to deal with the high costs of buying and maintaining a 2nd home - especially after seeing this old family vacation home go into disrepair. (The new owners demolished it and built something new and bigger).

The second reason was that my immediate family (spouse and son) had been going regularly to southern California and we really enjoyed it. But we were being pushed into "off season" times for our trips due to hotel prices. Additionally, we'd canceled a few vacations last minute to save money. This whole money issue was bothering me. We were/are financially comfortable and can afford to take regular vacations but for some reason the costs of hotel vacations kept us from taking as many as I wanted to... OR settling for accommodations I felt were less than. I LOVE having a kitchen when on vacation - it makes the relaxation so much easier for us. (I hate going out to eat for every meal when on vacation - takes too much time, wastes too much money, and is harder to eat healthy.)

For us, the value is not just financial (because renting the equivalent of our ownerships would be much more expensive) but we also actually really enjoy the convenience of the regularity, especially for our CBI ownership where we own a fixed unit, fixed week.



I agree with both of these quotes below...

I don't think the OP should own a timeshare. I don't think timeshares make sense for the vast majority of the population (including pretty much all of those who bought timeshares from the developer).

For myself, timeshares make an enormous amount of sense. But for it to make sense, you generally have to be someone who plans vacations a year in advance and who doesn't mind a bit of rigid inflexibility with regard to those plans. However, rigid flexibility is a small price to pay for a nice 2 bedroom luxury condo in your dream vacation destination.

I get that you can rent from timeshare owners - but that typically costs a lot more than the maintenance fees the owner pays. Granted, you don't have the up-front investment that the owner has. I don't think the typical timeshare owner comes out ahead owning vs. renting. But I'm guessing the typical TUG timeshare owner comes out far ahead of the typical renter by owning rather than renting.

Reasons to buy a timeshare:

It is often a good value to buy on the resale market when you want to:

-lock in the ability to reserve difficult to find dates that have high rental rates (school holidays, ski season, Christmas/New Years, event weeks, summer at the beach, etc.)

-lock in a specific view (like ocean front at the beach/Hawaii.)

-own at a resort where the rent is significantly higher than the maintenance fee.

However, if your favorite place(s) to vacation have lots of inexpensive rentals available, and you don't need high season dates, or specific views, owning may not be something you need to do.

 

[uscav8r]

If you like to travel around to different places then I would say, NO, don't buy....

... 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. ...

Happy travels either way!

Yours sounds like the perspective of a fixed/floating week type of ownership. I generally like to "roam" (heck just look at my vacation history), and I've put my TS ownerships to great use. The key? Both my ownerships are points-based. Not saying points are perfect (one has to put the effort into learning the system and planning ahead), but they've brought me a wide range of vacations.

I've also found that exchanging (if used as a secondary or tertiary option) via RCI using Wyndham points (vice TPUs) is pretty easy, though I've learned to be flexible in terms of exchange plans. I have not yet attempted the Interval exchange through WorldMark. But even here, both systems allow you to trade via set point schedules, so there is no guessing as to whether one has enough trading power or not.

 

[Blaaamo]

This depends very much on where and when you want to travel. If you are mostly interested in off-season time and/or at high-supply/low-demand destinations, then yes: it's often a renter's market. However, if you want more in-demand times and places, then owning starts to make more sense---particularly if you can get a good deal on the resale market.

But, even though you might save money on vacation lodging, it still might not be the right thing to do!

Here's what I mean by that: by and large, timeshare probably won't save anyone money. That's because most people who own timeshares will probably vacation more often than those who don't. Even if they are saving money on the lodging, they aren't saving money on transportation, food, entertainment, etc. Yes, we can sometimes cook in the unit, but few of us do so for every meal.

Instead, timeshare ownership is in part a commitment to vacation. If done properly, it can be an affordable way to make that commitment. I've been an owner for about ten years now. Next fall, my oldest will start college, so the days of regular "family" vacations are probably behind us after one last blowout trip to Hawaii. But, the decade of vacations we've taken have been the best money---and time---I've spent. We've clearly found that, for us, we'd rather spend money on experiences than things, and the experiences have been great.

Thanks for the input. I totally understand what you're saying. I bought an Annual Pass to Universal because it was cheaper than a 3 day ticket and if we go back it'll be free park entrance, which saves money. That doesn't take into consideration airfare, hotel, food, etc.

You have to be able to justify the expense, which in your case you have. I'm trying to...

Thank you everyone else for all your well thought out experiences and advice. I know we aren't year ahead planners, so right now there's no way we could do that, but I would like the option of having something that I could trade, or better yet trade for points and go somewhere else.
These decisions are hard, especially reading about the difficult process of buying in the secondary market and potentially getting scammed or led on for months and months.
How do I find a time share coach? I'd be willing to pay for one.

 

[WinniWoman]

Your timeshare coaches are right here on TUG. Buying on the resale market is not that hard. You can look right here on TUG in Bargain Basements or acquire one through Timeshare Nation and just avoid EBay altogether. Tuggers are always happy to guide you along the way.

But first you have to decide if you even want a timeshare. Not being able to plan ahead is a big issue with owning. Renting might be best for you. Don't sweat it.

 

[VegasBella]

How do I find a time share coach? I'd be willing to pay for one.

omg please no, do not solicit for someone to "coach" you on buying a timeshare

TUG is here for you - read and read and learn to do it yourself. You will gain the full value if you do it yourself.

 

[theo]

Another $0.02 worth...

<snip>... I would like the option of having something that I could trade, or better yet trade for points and go somewhere else. <snip>

Please do the homework and learn about the many various systems and options before making any purchase decision --- particularly a decision to "buy primarily to trade". Personally, I'm no longer a participant in (nor a fan of) the "exchange game" with its' ever-changing rules, continually escalating fees and its' eternally uncertain exchange inventory and availability.

Always bear in mind that in the "exchange game" (whether it's RCI, II, DAE, TPI, SFX, or whomever else) availability rules all. If there is no space availability into which you can exchange where (and when) you want to travel, then the "exchange game" can quickly become an exercise in futility and frustration. Some people enjoy "the hunt" --- and to each their own, of course. Just be sure to understand the details of "the game" before spending your hard earned money to play that game.

Spend some months getting an education here at your leisure. There is an encyclopedic wealth of experience and (often hard earned) knowledge right here on these TUG boards, but you do have to make the individual effort to extract and absorb the pertinent information --- it ain't gonna happen by osmosis. Move slowly and become an informed timeshare consumer before even considering buying anything.

Good luck!

 

[bnoble]

I would like the option of having something that I could trade, or better yet trade for points and go somewhere else.

Maybe that something is "cash I spend renting condos from other people."

 

[theo]

Yessa!

Maybe that something is "cash I spend renting condos from other people."

Well said! Spot on, solid advice for the OP at this particular stage of his inquiry / interest in timeshares (...and for the record, I do not rent out timeshare condos).

 

[travelplus]

We have had great success with Timesharing. Would you rather stay at a Best Western Hotel, Hilton or Marriott without a kitchen and forced to purchase all your meals and can't even cook them. Or would you like a place to come home to after a long day of playing tourist with a nice fireplace, two large rooms or more, Jacuzzi tub and more.

Do you want to relax during your vacation and just do nothing? Or do you like doing activities without leaving the property or lounging by the pool sipping a drink? Do you want to leave your kids at the Kids program while you go for a massage on site?

This can really only be done economically at a Timeshare. If you go to a resort you are paying a resort fee and more than likely the kids program fee.

If you have different sleep schedules you are not forced into one room. If you like baking on vacation or cooking tha tperfec roast it can be done in the full kitchen. Now some say Residence Inns can be like a timeshare that is not exactly true and the rates can go up,

More than likely the cost per night will increase faster than your Maintenane Fees that you are paying. Yes they can go up but its not like they will go up 90 percent or else the HOA will not go for it.

When you exchange you can visit new places. Yes Timesharing allows you to enjoy different places.

For instance we own at the Ridge Tahoe and exchange two weeks we banked into Interval to stay at the Ridge for three weeks in the same 2 bedroom same building we own. We just link the reservation and don't even have to check out in between.

We just purchased at the Sedona Summit resort a 2 bedroom and was able to Exchange the first week from Interval and combine it with our owner week. The last week we had to exchange through RCI as no other resorts were available and while we are going for a 1 bedroom its better than a Studio. The resort is the Highlands at Verde Ridge 15 minutes from Sedona and other nice areas like Jerome. See how you have to be flexible especially during the holidays.

We wanted Hawaii but nothing was available that met our needs. We like to "piggyback" our weeks at the same resort rather than moving around packing repacking etc. If we do have to move it would be to a resort closeby and for a week.

My point is you need to make it work for your needs and no one else. Invite your friends, let your friends use it if you can't use it or rent it out or bank it for 2 years.VRBO charges more and some of the properties are not what they claim to be as they are individually owned. If you own a vacation property there is the stress of renting it out or fixing it up. $20,000 here $5,000 there and it all adds up and for the most part you are locked into your home and while you can swap homes its not as good as a Timeshare.

We looked at buying a Vacation Home and were stressed about worrying if some hobo stayed at our property and broke it even with a good property manager and background check it does not guarantee a smooth rental. Then if the people cancel at the last minute you lose your rent.

At a Timeshare the Maintenance team , HOA handles everything. They upgrade our units and deal with the broken pool. Its actually cheaper to pay $1,000+ a year vs the high costs of Vacation Homes.

Furthermore Timeshares let you meet new people, travel to new places around the world etc. I prefer our Tahoe Timeshare to a Cabin and they have a bus that takes you down to the Casinos.

Resale is the way to go no matter what.

I hope this helps you OP. Remember only you can determine if TImesharing is right for you. We don't RV because again fixing a broken water pipe, the RV breaks down and high Towing Costs., membership fees into 1,000 Trails etc.

 

[johnluyando]

My motivations have changed somewhat but we originally began looking at timeshares to ensure that the family went on an annual vacation.

Growing up we were not wealthy and my mother tells me that she always found an excuse "not to" go away or do other leisurely type of family activities.

One piece of advice she gave me was to find an excuse "to" go away with the wife and family. Life will always be busy and the budget may be tight that won't be remembered, the memories that you have together will be.

I see having a timeshare as an excuse to travel and do things that you might not have otherwise.

 

[taterhed]

My motivations have changed somewhat but we originally began looking at timeshares to ensure that the family went on an annual vacation.

Growing up we were not wealthy and my mother tells me that she always found an excuse "not to" go away or do other leisurely type of family activities.

One piece of advice she gave me was to find an excuse "to" go away with the wife and family. Life will always be busy and the budget may be tight that won't be remembered, the memories that you have together will be.

I see having a timeshare as an excuse to travel and do things that you might not have otherwise.

^^^^^ Excellent advice from Mom. It's true and I'm proof. Wish I'd started earlier!

 

[Picker57]

EXCELLENT points in the lasts two posts. Yes, there are less expensive ways to vacation but the motivation isn't always there; lots of disincentives when time/money might be tight. We've used VRBO more in recent years because we've stayed (in Hawaii) for longer periods and have found facilities very satisfactory. We paid waaaay too much for our timeshare involvement (bought from developer in our pre-TUG days) but we don't regret being involved.....for the exact reasons mentioned below. It's hard to undo the memories we should have made

-------------------Zach.

 

[RLS50]

Thanks for sharing.

I've never been treated shabby by ANYONE at Marriott (and that goes for most of the hotels as well); although I'm sure somebody would disagree with me. You should rightfully be proud of working for a world-class organization.

FWIW: We almost bought developer-direct twice; once at Hilton and once at Marriott. Rescinded one and thought hard about the other--but ended up buying resale instead. You can believe it or not (it sounds crazy), but I really wish we had bought much earlier than we did--even if it was from the developer. Our family spent less time vacationing that we would have as owners (vs renters etc...) and would have taken more friends, stayed longer etc... IMHO

My kids are both adults now....I would pay a great deal of money right now to buy a few extra weeks of family vacation time back when my kids were still young. But of course....that's no longer possible. I firmly believe that being gently 'forced' to use your vacation time is highly-underrated.

Is that a good reason to buy a timeshare? IDK. It worked pretty well with a boat and a camper.

That was an awesome post. I share your sentiment. Same for us. Our kids aren't adults, they are teens, but if we had understood the advantages of timeshares and the proper way to use them earlier, instead of having such an ultra negative view of them and the industry for so many years, we would have taken more and better vacations when the kids were younger.

I wish we had bought some timeshare weeks 10+ years ago.

 

[linpat]

As a child our vacations were spent visiting relatives - on farms in the Midwest and upper Midwest. No arguments were accepted - relatives, farms, or staying home.
Timesharing has made it possible for me to take my daughter around the US, to Europe, and do it in a more relaxed and luxurious style than most hotels.
Daughter has already staked her claim on the timeshare accounts when I am ready to give them up.

 

[planzfortomorrow]

The only other perk that I've seen that hasn't been mentioned yet is the fact the TS cost is always paid for well before the vacation, vs. a hotel room that we'd put on a credit card & end up paying after the fact. Now, for most vacations, we just pay for food, souvenirs (if needed), and fun. So much easier for me to budget for. One TS has a (for us small) monthly charge and the other is a very low one-time MF cost at the end of the year. It has been cheaper than just hotel, and much nicer. Love the full sized fridge in most units, to stock up on all our drinks if nothing else.

The other is the fact that it forces us to plan & then go on vacation. We'd taken very few vacations for years. Just too easy to rob the vacation fund account, or delay then cancel the vacation because of this or that. Now, since it's paid for, we're going. We pick the place, reserve it, book airline (if needed) and notify work. The bosses can't claim some last minute meeting or need that comes up--since our schedule is known & we can't get refunds, they can schedule around us. But we are lucky in that we have jobs that do allow for vacations--I know some don't.

About 5 years ago my husband told me he'd like to go on more vacations. Then saw a Forbes article on how TS were being sold for a dollar, the burdens of MF, etc, and did more research. I found TUG, picked out & bought a couple of time shares, and off we went. It's not for everyone, but for us, it's been perfect. Haven't missed a vacation since. What pushed us away from renting into buying was rent terms can & will change every year. If you find a great place, at a great price one year, the next year there might be nothing. It takes so much time to research this & that, to see what deal is better than that deal, etc. I won't say we got the 'best' deal on the TS we picked, but overall we did well enough.