What’s the true benefit of timeshares

[davidvel]

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.

Actually many are both hoa members and property owners. Some are also owners of Sam's Club (WMT).

 

[breezez]

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

I see these sites differently. I have stayed at both places off Airbnb and Homeaway. Neither compared in quality to an average 3+ star timeshare. If something breaks in my timeshare there are maintenance guys to tend to it. On these other sites while some have people renting rooms in houses with people living in them (Not for me) most have owners not present. If something breaks you will deal with it over a phone and most likely just suffer. Plus generally these people want large deposits, cleaning fee's etc.

But these sites do have a great nitch. Not every location is a tourist area, and these sites you can find places to stay almost any where in any town even one with 6000 people in Iowa your likely to find something. So to me these are best used when staying outside the normal tourist destinations that you can stay at with timeshares. The one thing these things have better than most TS is WIFI.. Resort WIFI is generally painfully slow!

I would say these sites hurt hotel rack rates more than TS values, especially in large cities.

 

[aandmrun]

I write this as I am enjoying my fall vacation week in Park City, Utah where we like to come for hiking. To us, the advantage of being timeshare owners is that we end up with what I call pre-paid vacations (since my maintenance fees are paid well in advance of my travel). Timeshares have allowed me to go to many destinations and to be able to include my grandchildren and/or daughters. Having a nice two bedroom, two bathroom unit with a patio or balcony is much more enjoyable that a small cramped hotel room. I enjoy the planning in advance and the many locations that we can travel to. I say it is not for everyone, but if you like prepaying and planning at least a year in advance, it so so much fun! Also, knowing that my maintenance fees make it possible to know that my unit will be in tip top shape and well maintained is an advantage over what you may find in an Airbnb or other vacation rental.

 

[sue1947]

I just returned from a 32 day vacation using timeshares for all except 3 nights. Our average cost for the timeshare stays, in 2 BR units, was about $50/night. The Comfort Inns were $130-140/night.
Because we had full kitchens, we cook in. Our food bill ran about $12/day for 2 people.
I've used VRBO etc in the past, but as each was bought out by another, they have added more and more layers of fees. It's not just the HK fees, but also the 'booking' fees and other similar fees that are profits for each of the organizations. I have been pricing options for next fall, and these types of rentals have all gone up too much for my taste. I used to be able to figure $50/person/night, but it's now more like $100 but more like $150-$200/person/night.

Bottom line, I can't afford to travel except via timeshares.

Sue

 

[stmartinfan]

Both options work for us. Our timeshare in St Mararten is still cheaper than renting something comparable there, so it’s been a money saver for us and we love going the location. We also rent Vrbo and use suite type hotels for other travel because of the flexibility it gives us, especially since most of those trips are to places where timeshare isn’t an option anyway.

 

[geist1223]

I remember when Patti and I first bought into Worldmark. We bought it together before we were married. I put my half on a no interest Credit Card and rolled it over about every 12 to 15 months to a new no interest Credit Card. Patti pulled money from her Investment Account. When she called her Financial Advisor to Transfer the money to her Checking Account the Financial Advisor told her it was a horrible idea. Well several years later (and after trips with us to Australia and Hawaii) the Financial Advisor admitted she was wrong because we actually made full use of our Worldmark and travelled to some really nice places. You have to learn the ends and outs of whatever System you buy into and how to use it to its full potential. This year has included 2 weeks on the BI in Hawaii in January, 2 separate 1 week trips to Long Beach Washington (Spring and Fall), 2 weeks in Vancouver BC, summer week in Seaside Oregon, and an upcoming week to Seaside Oregon. Next year we have a 3 week trip to San Jose Cabo, a one week trip to Leavenworth Washington, 2 week trip to Victoria BC, summer week to Mariner Village Washington, 1 week trip to Yellowstone with all 3 Kids and 2 Grandkids, 3 weeks in New Orleans, and our annual trip to Seaside Oregon in November. There is no way we could afford to do all this paying for Hotels and Meals. In addition we have helped a son and DIL have nice places to stay for their Bridge Tournaments, and a Nephew with Wife to return to Maui (where they were married) for their 5 year Wedding Anniversary. Yeah it has been well worth it both the initial purchase and the additional purchases.

 

[VacationForever]

I remember when Patti and I first bought into Worldmark. We bought it together before we were married. I put my half on a no interest Credit Card and rolled it over about every 12 to 15 months to a new no interest Credit Card. Patti pulled money from her Investment Account. When she called her Financial Advisor to Transfer the money to her Checking Account the Financial Advisor told her it was a horrible idea.

When we put down more $ a couple of months ago to buy Marriott DC points/week combo, I let my husband handle the request with our Financial Advisor that we needed money transferred into our checking account. My husband wrote "We have made a purchase and we need $X to be transferred into our account." My husband likes to keep his words brief which is great in situations like this and he avoided having the conversation about timeshare. Having said that, this Financial Advisor owns 3 platinum season weeks at Marriott's Newport Coast and conversation about buying more timeshare would probably have been uneventful. This same Financial Advisor has been encouraging us to take the world cruise that we often joke about. He has been quite assuring that we will do alright even when we splurge a little here and there. I am the one who gets worried about being too spendy early in our retirement.

 

[bogey21]

For us it was having the exact week and exact unit at the exact resort we wanted to visit every year....

My thinking exactly. At my peak I had six, all Fixed Weeks/Fixed Units. All were at HOA Controlled Independents; were bought resale (I think I paid $8,000 for the bunch) and all had relatively low MFs.

George

 

[tturla]

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

This exactly what I mean. There so many options now. More inventory, same demand. So value goes down. But I agree with much of what is being said and I will likely buy another timeshare within a year. Resale of course.


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[tturla]

I remember when Patti and I first bought into Worldmark. We bought it together before we were married. I put my half on a no interest Credit Card and rolled it over about every 12 to 15 months to a new no interest Credit Card. Patti pulled money from her Investment Account. When she called her Financial Advisor to Transfer the money to her Checking Account the Financial Advisor told her it was a horrible idea. Well several years later (and after trips with us to Australia and Hawaii) the Financial Advisor admitted she was wrong because we actually made full use of our Worldmark and travelled to some really nice places. You have to learn the ends and outs of whatever System you buy into and how to use it to its full potential. This year has included 2 weeks on the BI in Hawaii in January, 2 separate 1 week trips to Long Beach Washington (Spring and Fall), 2 weeks in Vancouver BC, summer week in Seaside Oregon, and an upcoming week to Seaside Oregon. Next year we have a 3 week trip to San Jose Cabo, a one week trip to Leavenworth Washington, 2 week trip to Victoria BC, summer week to Mariner Village Washington, 1 week trip to Yellowstone with all 3 Kids and 2 Grandkids, 3 weeks in New Orleans, and our annual trip to Seaside Oregon in November. There is no way we could afford to do all this paying for Hotels and Meals. In addition we have helped a son and DIL have nice places to stay for their Bridge Tournaments, and a Nephew with Wife to return to Maui (where they were married) for their 5 year Wedding Anniversary. Yeah it has been well worth it both the initial purchase and the additional purchases.

One of the reasons I purchased is because of the “forced vacations” which I am enjoying now. Stories like yours and the list of places you’ve been to further argues for timeshare ownership. Thanks!


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[MuranoJo]

As others have said, we've been to places we normally wouldn't have considered. For a very reasonable per-day cost, we've been all over the Caribbean, MX and HI. Plus I've burned many RCI TPUs hosting two separate family reunions, using 5-7 two-bd units. Those two family events alone make it all worthwhile.

 

[Phydeaux]

I remember when I got my first 8-Track tape player, and did I ever think I was something special. At least I never regretted that purchase.

 

[mdurette]

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

Yes, it has. I was reading an article the other day about a young couple that rented someones house via one of these outlets. They found the bedroom had hidden video/audio cameras in the smoke detectors! The man that owned the place obviously was a sicko. That one article will most likely stop me from ever considering renting a private residence!

 

[VegasBella]

Yes, it has. I was reading an article the other day about a young couple that rented someones house via one of these outlets. They found the bedroom had hidden video/audio cameras in the smoke detectors! The man that owned the place obviously was a sicko. That one article will most likely stop me from ever considering renting a private residence!

I read about that too! Crazy!

Most of my vrbo rentals have been fine but one of them involved a swamp cooler that accidentally flooded the entry room. That was no fun.


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[CalGalTraveler]

Timeshares are like credit cards. Some people who pick the right ones and manage them correctly gain great travel benefits for minimal cost. For others it is a financial disaster, and they should not touch them.

 

[Phydeaux]

Would love to hear from just a few CPA's on their opinion of their TS's.

 

[CalGalTraveler]

Yes, it has. I was reading an article the other day about a young couple that rented someones house via one of these outlets. They found the bedroom had hidden video/audio cameras in the smoke detectors! The man that owned the place obviously was a sicko. That one article will most likely stop me from ever considering renting a private residence!

EWWW! At least renting a timeshare does not have this problem.

 

[VacationForever]

Would love to hear from just a few CPA's on their opinion of their TS's.

You comment on CPA's opinion is really not relevant. There are 2 types of accountants and people. One type is a real penny pincher. This type would not spend money on timeshare nor stay at high end resort. They go for the cheapest possible place that they can find, if they have to spend money to go on vacation. The other type while careful with money, understands the finer things in life and do buy timeshare as after doing the math, they understand that without timeshare, to get a similar experience it would cost them more. I know both types and have them in my inner circle of friends and family.

You obviously have a distaste for timeshare, and you are in the minority on TUG. Between timeshare and credit card, we have alot of great vacations that we would otherwise not have experienced nor be willing to pay for them.

 

[clifffaith]

EWWW! At least renting a timeshare does not have this problem.

I also saw the article on the camera in the smoke alarm. First thing I thought was that a resort maintenance man could install a camera just as easily. Although at the rate we get units with beeping smoke alarms, that is not a good place to hide one.

 

[PigsDad]

You comment on CPA's opinion is really not relevant.

Agreed. The title of this thread is "What’s the true benefit of timeshares". Not all benefits can be represented on a spreadsheet, as is perfectly clear by the many, many stories shared here already. Some people just can't understand that, it seems.

Kurt

 

[breezez]

I remember when Patti and I first bought into Worldmark. We bought it together before we were married. I put my half on a no interest Credit Card and rolled it over about every 12 to 15 months to a new no interest Credit Card. Patti pulled money from her Investment Account. When she called her Financial Advisor to Transfer the money to her Checking Account the Financial Advisor told her it was a horrible idea. Well several years later (and after trips with us to Australia and Hawaii) the Financial Advisor admitted she was wrong because we actually made full use of our Worldmark and travelled to some really nice places. You have to learn the ends and outs of whatever System you buy into and how to use it to its full potential. This year has included 2 weeks on the BI in Hawaii in January, 2 separate 1 week trips to Long Beach Washington (Spring and Fall), 2 weeks in Vancouver BC, summer week in Seaside Oregon, and an upcoming week to Seaside Oregon. Next year we have a 3 week trip to San Jose Cabo, a one week trip to Leavenworth Washington, 2 week trip to Victoria BC, summer week to Mariner Village Washington, 1 week trip to Yellowstone with all 3 Kids and 2 Grandkids, 3 weeks in New Orleans, and our annual trip to Seaside Oregon in November. There is no way we could afford to do all this paying for Hotels and Meals. In addition we have helped a son and DIL have nice places to stay for their Bridge Tournaments, and a Nephew with Wife to return to Maui (where they were married) for their 5 year Wedding Anniversary. Yeah it has been well worth it both the initial purchase and the additional purchases.

I’m envious . Can’t wait to get to a point I can take this many trips. I am excited to retire in a few years, except the part of getting old I am squinting trying to type this on my phone.

 

[breezez]

Between timeshare and credit card, we have alot of great vacations that we would otherwise not have experienced nor be willing to pay for them.

Ditto - My last trip, flew round trip to SF, on Southwest $22.40 for 2 people, Have SW Companion pass for wife and points for mine. Got points paying MF on timeshares. Chrysler Pacifica Mini Van for 8 days rental from Alamo. $25 exchange fee +41K RCI points already in a new account I took over (took over 2 with almost 500K Points already in them) Stayed at Bass Lake in 2 Bedroom Town House WM Resort. $530 based on point costs. Stayed my last night at SF Embasy Suites Hotel by airport free again 40K Hilton Points again from cards used to pay travel and dining expense.

We ate all but 3 meals in our unit and packed lunches for our hikes.

Rental Mini Van, Air Fare and Lodging $577.40. There is no way I could take trips like this and as many as I do unless I make CC reward cards work with my TS. Groceries and Dining about anther $300 bucks.

I took family of 4 to Vegas twice this year on SW free RT

Wife and I flew to Denver for free on SW RT

Wife and I flew to SF for free on SW RT

And at Thanksgiving we are flying SW again for free RT this time to Minneapolis

You got to love SW Companion Pass, it’s a bummer they stopped the loop hole of of partner points counting. But at least I got 1 more year left and now they will fly to HI I hear

 

[Jan M.]

There are 2 types of accountants and people. One type is a real penny pincher. This type would not spend money on timeshare nor stay at high end resort. They go for the cheapest possible place that they can find, if they have to spend money to go on vacation. The other type while careful with money, understands the finer things in life and do buy timeshare as after doing the math, they understand that without timeshare, to get a similar experience it would cost them more. I know both types and have them in my inner circle of friends and family.

We know exactly how that goes. My now deceased MIL was a real penny pincher unless it was something she wanted for herself. She could have well afforded a timeshare but saw no value in spending money on something that would have benefited her five children and their families. We used to avoid mentioning our timeshare purchase around my husband's family. Then we sent my MIL and her gentleman friend to Kingsgate for week in a two bedroom unit when they were talking about visiting his daughter who lives in Newport News. They were very impressed. Next we sent my SIL and some friends of theirs for a week at Ocean Boulevard in a three bedroom ocean front unit. We offered his oldest brother, his wife, their two grown children and their families who live in Indianapolis a 4 night weekend stay at Glacier Canyon at the end of July in a 4 bedroom presidential. This SIL periodically gets mad at different family members and doesn't speak to them for a while. I may have been on her list at that time or there might truly have been a valid reason. However she just turned it down without offering it to their son, his wife and 2 kids because she doesn't like his wife. My husband said to cross her and his brother off the list and next time I have something to just call our nephew and offer is to them and leave that SIL out of it.

My sister and her family have benefited from our timeshares but we have stayed with them at their timeshare too. It was my sister and BIL that we called before we made the decision to buy our first timeshare. My BIL is very shrewd at managing and investing money and they said they never regretted buying their timeshare which they have owned for 35 years now.
,

the advantage of being timeshare owners is that we end up with what I call pre-paid vacations (since my maintenance fees are paid well in advance of my travel)

We never even have to give any thought to what the lodging part of our vacations cost. And that is pretty darn sweet! I always get cheap flights with the discount airlines, really good deals on rental cars and depending on where we go we eat some to most of our meals in our unit so vacations aren't a luxury item in our family finances like they were before we bought our first timeshare. My husband often says that back before we bought our first timeshare we would never in our wildest dreams have imagined vacationing like we've done since then.

Our son and his wife took their daughter to Kalahari Waterpark for her 6th birthday in August. She had never stayed in a hotel before and wasn't impressed with their room. Our son told her that it would be fine because they were just going to sleep in the room as they would be so busy at the waterpark but she was still doubtful. Our son and DIL called laughing to tell us how spoiled their daughter is thanks to us. I have a reservation for them to go to Glacier Canyon this summer for her birthday so even the waterpark at Kalahari won't impress her after that. We have another year to wait until their second daughter is old enough, must be close to 3 years old, to get spoiled by spending time with Grandma and Papa and going Disneyworld, Legoland and Sanibel like her big sister. Before our oldest granddaughter started school this Fall she would come to Florida 3-4 times a year and we usually went to both Orlando and Sanibel. People would tell our son and DIL that just one week at either would be a big vacation for their families and their daughter did both multiple times a year. Gotta love timeshares!

 

[klpca]

I think that there are a lot of accountants on this site who own timeshares.

My daughter is staying at a airbnb as we speak (in fairness, there are no timeshares nearby). She and her husband are comfortable camping, but chose to stay at an airbnb this time so that they didn't have to haul all their gear across the country. Here is a quote from her email: "The cozy cabin is an exercise in letting go. On the plus side, it's warm and most things are functional. On the down side, the floor has angles that make me question the structural integrity of the cabin, and we are vacationing with a lot of spiders. It is challenging when running the dishwasher means no running water for the next 8 hours. Surprise! That was a fun discovery."

We have stayed in owner rentals in the years preceding our first timeshare purchase, and there was always something that happened during our trip. I have stayed and waited for the cable repair man to arrive, I have found used syringes in an unmade bed, we have shown up for our stay to encounter an uncleaned house because there was a miscommunication between the owner and the housekeeper. In the end, we had to deal with it. The photos on the websites can be inaccurate and misleading. I am sure that there are great places out there, but timeshares are consistent if nothing else.

For us, timeshares are definitely less expensive than most rentals, especially if I can lockoff and use half to exchange into a good property. We are headed to Westin Nanea this month for about $100 per night. How can you complain about that?

 

[geekette]

I see these sites differently. I have stayed at both places off Airbnb and Homeaway. ...

The last thing I want for vacation is to spend it in the home of a stranger. It just does not feel right to me.

You mention many of my issues with it.

Location can be an issue, but I can suck it up and pay for a hotel. I just cannot get over the creepy feeling of staying in someone else's home.