What’s the true benefit of timeshares

[tturla]

I’m a TS owner but new at reading all the forums advice blogs regarding buying selling and trading TS’s. With all the opportunities to rent via TUG VRBO AirBnb Craigslist Redweek etc., with the cost close to MF’s, what do you all think is the main driving force behind ownership? Just curious about everyone’s thoughts.


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[AwayWeGo]

For us, it's luxury vacation accommodations at Motel 6 & Super 8 rates.

Obviously, we're resale all the way on timeshares. Plus, we take advantage of RCI Last Call, etc., typically paying less for a week in somebody else's timeshare than it would cost to stay in our own.

So far, so good.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[MOXJO7282]

You raise a good point I think. I think the only reason to buy a TS now is if you want top quality resorts during prime season. You said "with the cost close to MF’s" but there are some resorts that cost a real premium to rent especially during prime time so if you are someone who needs to have a 2bdrm Maui Marriott during the winter that is where ownership does present real value. That is how I got hooked, I wanted a 2bdrm Maui Marriott OV/OF during prime winter and the rental costs were considerably higher than MF so I had an ROI from the purchase.

 

[VacationForever]

I am not trusting in renting from others, whether it is TUG, VRBO, AirBnB, Craigslist, Redweek etc... For me, having full control of booking my own vacation in a nice spacious unit at a lovely resort is the most important factor in TS ownership.

 

[bluehende]

For me it may be as simple as I am a creature of habit. We own 2 that we have owned for up to 13 yrs. One is a leaf week in VT. After going for 13 yrs we still do not even consider trading or not going. We enjoy the same festivals and church dinners each year. We love fall and this gives us 2 each year. Again it is as simple as enjoying watching the same beautiful tree change each year. We could probably replace it each year with close to our maintenance fees, but it is so simple to just pay and go. Our other TS in in WV in late June. This one has the same families come each year. We have watched kids grow up and enjoy old friends every year. This TS has very low maintenance fees so I do save a lot of money. We are avid mountain bikers and in my estimation the two timeshares are in two of the best areas for mountain biking on the East Coast. Purchasing (or better word accepting) timeshare ownership at these two resorts was right for us. We always thought we would want to trade at some point as we got bored........I will let you know when that happens.

 

[DaveNV]

For me, it's all about options. If you rent a hotel room, you get what you get, and I've seen enough dumpster views from spendy hotel rooms to last a lifetime. I want to be able to count on better accommodations.

I owned an oceanfront resort on Kauai for a long time, and my vacations there were in the same prime unit every time. I knew before I arrived exactly what I'd be getting for my money. I never exchanged that ownership. Selling it was a hard choice, but I did it only after buying a week in an affiliated resort group. That gives me options of exchanging back in to the same resort (but maybe not the same unit), but also being able to internally exchange to other places in their system, for lower maintenance fees. My next vacation will be in a great oceanfront location on Maui, which I got for about a third of the maintenance fee cost of owning there, and for a fraction of what hotel rooms rent for in the area.

But then, after all these years, I have also just bought into WorldMark so I'd gain the additional flexibility of short stays, last minute stuff, and all the perks, in addition of being able to have long-term planned trips to places I'd like to go, where an exchange may not be available.

The other thing I like is maintaining my membership in RCI, (without exchanging), which gives me access to Last Minute and Extra Vacations, so cash-based options are increased. I have a coworker who is currently in Las Vegas at the huge SEMA auto trade show, a major event he likes attending every year. I was able to get him a great two-bedroom unit not far from the venue. He is sharing the cost with a close car buddy friend, and they're each paying about $35 a night to stay there. Hotel rooms there have been booked out for a long time. We've done this sort of thing several times.

It's all about the options. And choices.

Dave

 

[easyrider]

Our main timeshare benefit is snow birding. The timeshare contracts we own help keep the trip costs down and provide a bit of stability in our yearly planning for winter travel.

The one draw back, is our dog, Rex, is not allowed to travel with us, not that we would fly him to Mexico or Hawaii anyway. Renting VRBO units that allow pets is some thing we do for summer vacations.

Bill

 

[DeniseM]

-Larger accommodations for less than we can rent for.
-Oceanfront units for less than we can rent for.
-Knowing exactly what we are going to get.

 

[Luanne]

My sister told me they bought theirs so that they would be forced to take vacation.

 

[PigsDad]

Two of the weeks we own (bought resale, of course!) are weeks 51 and 52, ocean front, high floor 2BR condos on Marco Island. We love spending the holidays there, and have a great time every year. Our maintenance fees are about $1100 for each week -- I guarantee you cannot find equivalent accommodations for less that $2k, more likely in the $2.5-3K range (last I checked on VRBO, etc.), so we get great value from owning and using our weeks there. And being part of the HGVC system, if there are years where we don't want to use our weeks, we can use the points at any other HGVC property and get good value there as well.

So from a purely financial side, owning timeshares save us money compared to other alternatives. Then there are the non-tangible benefits. Since jumping into the TS world, we take more vacations. We travel more with friends and family. We enjoy our vacations more. After 13 years of ownership, I wouldn't have changed much if I were to do it all over again.

Kurt

 

[rickandcindy23]

We own a lot of timeshares and deposit many of them. I know what resorts I want and will accept via exchange. I almost always get great value. It's a hobby, even a game for me.

Renting timeshares is not a bad idea. TUG has great deals via the classified ads.

Renting private homes/condos is not a bad idea, either. But you could have a bad experience, and who do you complain to about your rental, when you are working with the owner. With a timeshare, you have a management company. Some homeowners have management companies who take care of the property, but they cannot move you to a different unit.

Also, a lot of scams happen with private homes and condos.

We bought oceanfront on Maui because we wanted whale season. We bought three weeks. It's not cheap, around $1,700 per week with taxes/fees. It goes up every year. But what would an oceanfront 2 bedroom cost to rent during whale season? Even VRBO is very expensive, and with our resort, I know I will get one of three units, all of which are acceptable to me.

 

[WinniWoman]

For us it was having the exact week and exact unit at the exact resort we wanted to visit every year, with the idea of exchanging as an added bonus just in case we wanted or needed to. Plus, the maintenance fees are a lot less than if we were to rent from the resort or even another owner.

 

[geist1223]

We own at Royal Solaris in Cabo, Worldmark, and DRI. We have taken vacations all over the World we would not have taken. Before we retired it forced us to take vacations. We like having a full Condo with kitchen and not just a hotel room. We use all our Points every year.

 

[JohnPaul]

It's a good question. My brother sees us getting good use out of our timeshares and considers it but he keeps coming back to renting and being happy with it.

Along with all of the things that other people have mentioned, I think the following is a factor for me. I love vacationing and the planning. With timeshares I pay my maintenance fees and it's just part of my budget. When I book I can just decide to go places and not think about the cost. I assume it would be somewhat like deciding to go to a vacation home since going or not going isn't an additional out of pocket issue (but I'm not stuck with one vacation home location). That doesn't mean I don't try to get the maximum benefit out of my ownership but that's part of the fun of planning.

 

[geekette]

prepaid vacation, no wondering if I REALLY have a place to stay, known costs, no dealing with strangers on the internet.

for me, it's the most stress free way to roll and saves a ton of time.

 

[artringwald]

Once we find a resort we really like, I do whatever I need to so we can keep going back. On Kauai, it's a timeshare, so we bought timeshare weeks there. On Maui, it's a condo complex, so we rent from various owners. On Oahu it's a hotel, so we book directly with the hotel. With timeshare points, we have the flexibility to scout out many other locations in search of new favorites. If only we could find a nice resort, with palms trees and beaches, that was a short non-stop from Minnesota.

 

[Phydeaux]

I’m a TS owner but new at reading all the forums advice blogs regarding buying selling and trading TS’s. With all the opportunities to rent via TUG VRBO AirBnb Craigslist Redweek etc., with the cost close to MF’s, what do you all think is the main driving force behind ownership? Just curious about everyone’s thoughts.


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Absolutely none. Timeshares are dead. To do over again, I definitely wouldn't given the fact that renters can get all of the perks with zero strings attached. I learned from my mistake.

MF's increase nearly yearly, making a TS membership non sense. Btw, no one accurately describes themselves as timeshare owners, any more than they can call themselves health club owners, country club owners, or Sam's Club owners. Get your language correct folks, you're timeshare members. You don't own as much as a blade of grass at that ts.

 

[VegasBella]

When I was first interested in buying a timeshare it came about shortly after my mom and her sisters sold our family's vacation home. Even though I didn't use it much I felt a loss. I felt an immediate need to create some similar experience of a vacation home for my son. So we started looking in timesharing.

-Larger accommodations for less than we can rent for.
-Oceanfront units for less than we can rent for.
-Knowing exactly what we are going to get.

Yup

That last one is a big one for us. We own two fixed weeks. This makes planning nice and easy. We know where and when we're going, what kind of things the rooms have or don't have, etc. It's so nice! Husband says he gets more relaxed the closer it gets to our Summer week at CBI. He just loves that place and *knowing* we're going there and things are waiting and ready for us is a very nice feeling. It's kind of like going home.

My sister told me they bought theirs so that they would be forced to take vacation.

This is actually our other reason for timesharing. Prior to our ownerships, we would cancel about half of our trips before taking them. But the fact that with timesharing it's mostly prepaid it sort of forces you to take the vacation. Money was never really the issue for us but hubby and I both get a little pre-trip jitters just about every time and can find a million reasons to cancel. Well, that doesn't happen anymore. Rationally, it's a terrible reason to buy a timeshare. BUT it really does work for some people.

prepaid vacation, no wondering if I REALLY have a place to stay, known costs, no dealing with strangers on the internet.

for me, it's the most stress free way to roll and saves a ton of time.

There is one trip I have been taking for years and years and there's no timeshare option in that location. I prefer to have a kitchen so this means I need to book a hotel, cottage or I have to do a VRBO. Well, those don't always work out the way you want them to. Yes, it's a fine option sometimes and it's great. But there are other things that are an issue. For instance, it's always a wonder how child-safe the home/apt is. They often say it's fine for kids but most of the time they never bothered to anchor TVs to the walls or move small items from toddler's reach to prevent choking. It's always HIGHLY stressful to travel in unknown accommodations when you have young kids with you.

 

[breezez]

I am not trusting in renting from others, whether it is TUG, VRBO, AirBnB, Craigslist, Redweek etc... For me, having full control of booking my own vacation in a nice spacious unit at a lovely resort is the most important factor in TS ownership.

I don’t know about the full control part. With Wyndham lately I keep my fingers crossed

 

[breezez]

A few years back I went to Vegas with family of 4 and spent 6 days at Mandalay Bay Hotel on Strip. I think my room was about 400SF. It had a separate living room and bedroom. Room with tax for 2 teens and 2 adults about $2800. We were crammed and uncomfortable. Had to share 1 bathroom, but had a great pool only could use once. Breakfast in hotel for just eggs and bacon would set you back $125 easy. Coffee about 6 bucks no fridge just their mini bar. Great if you like $9 cans of beer or $5 candy bars.

This is when I started looking at TS.

Now when I stay in 2 bedroom places typically 1200-1500sqft fireplaces for winter and still have great pools, most I can park for free. Many times I can spend a week for $400+\-

One thing I find great about TS is they force me to take vacation and I use them a lot to see places I would not see otherwise.

This year:
Vegas 5 Days WM
St. George Utah 7 days WM
Vegas 1 Day WM
Steamboat Springs, CO 6 Days WM
Bass Lake, CA 7 Days WM
San Francisco 1 Day ES
Fort Lauderdale 3 Days WYN
Orlando 3 Days WG
Orlando 3 Days WG
Bonita Springs, FL 3 Days Hyatt

Still have left,
Orlando 5 Days at Christmas at a Vistina

What I have fun with is exchanges see what I can get.

Are they a good deal? A good deal is a state of mind. In my case they are completely worth it. There is no way the wife and I would want to stay in hotels again. In fact on way back from bass lake spent night in Embassy Suite hotel outside airport in SF it was miserable compared to our previous 7 day in a TS. But we used TS to even stay at this hotel free.

Retirement... I see these things as an easy cost effective way to have a second home while seeing the world.

If you do get involved in TS work out an exit strategy should one of you no longer be able to travel or pass away.

 

[pedro47]

It forces us to take four (4) to five (5) weeks of Vacation each year.
We loved having a full kitchen, a living room; plus two (2) bedrooms and three (3) bathrooms at our disposal.

 

[WalnutBaron]

We only own at places we love to visit, including Carmel and the Monterey Coast of California; Sedona, Arizona; Hawaii; and San Francisco. So our timeshares become a "get to" that we look forward to every year. In addition--because we own properties with high trade value--we're generally able to secure quality trades when we decide we want to visit another location. And because our Hyatt timeshares are fixed week ownerships, we know exactly the prime view we purchased and during the exact prime time of the year for us to visit. No reservations needed, just a confirmation that we plan to use our fixed week in a given year. One more thing: the space we have includes a full kitchen, a living room, 1 or 2 bedrooms with king size beds, a balcony with a great view, and a washer-dryer so we can do laundry in our room when we want/need to.

There's one additional key advantage for certain timeshares (including two that we own): a board that answers directly to the owners, not the developer. Boards that answer to owners are a) more sensitive to carefully spending MF dollars on maintenance and upgrades; b) making sure that owners' needs are addressed; c) MF increases are usually very modest. With a VRBO rental, you own nothing and have no say with the owner.

 

[mbinpa]

Absolutely none. Timeshares are dead. To do over again, I definitely wouldn't given the fact that renters can get all of the perks with zero strings attached. I learned from my mistake.

MF's increase nearly yearly, making a TS membership non sense. Btw, no one accurately describes themselves as timeshare owners, any more than they can call themselves health club owners, country club owners, or Sam's Club owners. Get your language correct folks, you're timeshare members. You don't own as much as a blade of grass at that ts.

I have a deed and real estate tax payments that are at odds with this statement.

 

[CalGalTraveler]

Renting private homes/condos is not a bad idea, either. But you could have a bad experience, and who do you complain to about your rental, when you are working with the owner. With a timeshare, you have a management company. Some homeowners have management companies who take care of the property, but they cannot move you to a different unit.

Also, a lot of scams happen with private homes and condos.

+ 1

Interesting point. With a rental you are stuck for the week - unless you are renting a timeshare.

I like the resort amenities at timeshares such as the gyms, pools, lounge etc. and activity/people/ocean watching from my lanai. Cannot get this at similarly priced VRBO's and Airbnb rentals. Hotels too cramped and expensive.

Renting timeshares for Hawaii ocean front was almost 2x the cost of maintenance fees.

 

[Brett]

Absolutely none. Timeshares are dead. To do over again, I definitely wouldn't given the fact that renters can get all of the perks with zero strings attached. I learned from my mistake.

MF's increase nearly yearly, making a TS membership non sense. Btw, no one accurately describes themselves as timeshare owners, any more than they can call themselves health club owners, country club owners, or Sam's Club owners. Get your language correct folks, you're timeshare members. You don't own as much as a blade of grass at that ts.

yes. the internet - VRBO Airbnb- trivago homeaway etc. has severely impacted the value of timeshares