Forbes Article on Timeshares

[TUGBrian]

I was extremely disappointed in the section on resales...it certainly reads as if they (resales) are a poor choice for anyone.

Are Timeshares Worth It? Here Are The Benefits And Risks

If a timeshare company ever offers you free tickets to a show, a hotel stay or dinner discounts to attend a “brief” meeting, it’s likely you’re going on a lengthy tour of a timeshare. There certainly are benefits to having a vacation place to call your own once a year that often comes with an opt

www.forbes.com

at least the article mentions TUG as a place to go to get help, so kudos there.

 

[sherakay]

I was extremely disappointed in the section on resales...it certainly reads as if they (resales) are a poor choice for anyone.

Are Timeshares Worth It? Here Are The Benefits And Risks

If a timeshare company ever offers you free tickets to a show, a hotel stay or dinner discounts to attend a “brief” meeting, it’s likely you’re going on a lengthy tour of a timeshare. There certainly are benefits to having a vacation place to call your own once a year that often comes with an opt

www.forbes.com

at least the article mentions TUG as a place to go to get help, so kudos there.

From the article:

There are drawbacks to buying secondhand, however.

Examples include not being able to convert the timeshare into other options, such as hotel points or cruises. This is never a good use of a timeshare.

Buying a secondhand timeshare also comes with the risk that the current owner is behind on maintenance fees and/or owes a special assessment. You need to know if you’ll have to pay these fees as the new owner before making such a purchase. That's what an estoppel is for.

So before you tour a timeshare, do your research—a lot of it. Get a good idea of how much it would cost to vacation in your desired places and research the property you’re about to tour online. The Timeshare Crusader, Timeshare Users Group, Redweek and even Facebook groups whose users all own timeshare from the same developer, are consumer-friendly sources worth consulting. Awesome plug! Bottom line, a timeshare is not an investment. But we all know this. Neither is a tv or vehicle but we all want those things too! If you do your research and buy one where the MF are lower than the retail or rental cost and buy one that you'll use every year it's an awesome product to own.

 

[TravelTime]

I think the article somewhat confuses being retail vs resale and mixes oranges and apples. If I did not understand timeshares, I would be confused as to what applies to retail vs resale.

They do not mention what I think is one of the biggest advantages of timeshares, which is that name-brand timeshares are usually higher quality than things like Airbnb. It’s more like staying in a condo that is managed by Marriott, Westin or another name-brand company. The article does not mention that modern timeshares tend to be managed by hotel brands and offer the amenities of hotels/resorts with the space of a condo.

They did not mention that the price per night can be half of the cost of a hotel room after upfront fees.

I do not think it’s true that timeshare points depreciate over time. They are confusing this with hotel points.

 

[x3 skier]

They did not mention that the price per night can be half of the cost of a hotel room after upfront fees.

I agree with all of what you posted except that statement. It totally depends on what the “upfront fees” were and how many years you amortize them. It can be of almost zero effect or a major cost. If you paid $1, no big deal. If you paid several thousands, you may never break even.

Cheers

 

[Beach57]

Yes, disappointed on the resale paragraph. That’s where so many of us have made out, saving thousands on our vacations. Essentially, you have to be organized and savvy to be a successful timeshare owner/user, and unfortunately, there are leagues of people who can’t manage this.