Considering "buying" family timeshare. Worth it?

[googlezon]

My grandparents bought a HGV timeshare forever ago, then passed it to my dad and aunts when they passed. Long story short dad and aunts don't use it enough to justify keeping it and I've got the chance to transfer it into my name. It's fully paid off but I would have to pay $1378 in fees to transfer ownership.

It's a three bedroom at SeaWorld gold season with 9280 points annually. Maintenance fees ans tax are $1780.

Wondering if I should move forward with transferring into my name. Also wondering if the timeshare has any value if I were to sell in the future?

 

[letsgobobby]

Assuming those are correct MFs and don't include club dues, it's very expensive MF per point on an ongoing basis, both because Florida resorts cost more and because it's gold season (fewer points for same MF).

It's free but I bet you can get something for close to free (your $1378 in fees) or maybe $1500-$2000 all in that gives you 11,200 annual points for around $1500 per year. Which would be better within about 2 years of ownership.

So I think I'd pass, but let's see what the experts say.

 

[GT75]

I would suggest passing because MFs/pts are way too high (Gold Season in FL) and really not enough points.

 

[HedonisticEpicurean]

I would suggest helping them sell the unit and then using the money to buy a different timeshare with more points and better MF ratios. My guess is that your family would be grateful to have you sell the property and get them out from under the yearly high MFs.
But, after you sell the existing timeshare take time to investigate your options and make sure you are ready to have the financial obligation that comes with timeshare ownership.

My WAG is that you could probably sell the unit for a couple thousand dollars. That is based on what I googled and saw other units online for sale at the property.

I agree with the previous two posters. If you don't help them sell you are probably better to pass.

Stay tuned as I'm only a novice. But, I'm sure some talented experts will share their advice.

 

[GT75]

My WAG is that you could probably sell the unit for a couple thousand dollars.

I don't think so. I think that this will be very hard to give away.

 

[jp10558]

Yea, I mean I have SeaWorld for ~$1,700 a year (I don't know about club dues, that's what I pay online and so far I only have one HGVC deed) and get 11,200pts for that. I can't see many people wanting less points for the same money really.