You guys are saying that the value of the TS is not worth 4K and in actuality is closer to zero. And the $400-$600 resort fee is normal.
It is “worthless” because so many people are willing to get rid of theirs at fire sale prices to avoid the annual fees.
Most of the people on TUG are very satisfied timeshare owners. We all see a lot of value in the timeshares we own. But, the way we value them is probably not what the market value is.
The market value of the week is influenced in part by how the secondary market for timeshares (doesn't) work. In general, timeshare is a product that is sold, not bought. Partly this is because the value proposition isn't always obvious, and the model works differently than the vacation rental market. It takes some time to wrap your head around it. Developers spend a good chunk of money on marketing and sales to help overcome these challenges. But, there is no equivalent effort on the secondary market, so there tends to be an oversupply relative to organic demand.
Edited to note: apparently this is a floating week. If so, the stuff below is no longer relevant:
This particular week has some liabilities. Mid-September is not the time I want to be on the Florida Atlantic coast. It's hotter than blazes and it's peak hurricane season. For many families, it's also early in the school year, and a time when they really would prefer not to travel. That doesn't bother you so much, but it does hurt the value of the week both for resale and if you want to trade it (via "exchange"). It's sort of like how school districts matter to property values. You might not have school aged kids any longer, but I bet you still look at school district quality when you are thinking about moving. Why? Because it effects the value of the house in general, just not to you.
Now, if that's a time when you *do* want to be on the Florida Atlantic coast, then maybe those things don't matter. In fact, you might really prefer this time. As long as there isn't a storm brewing, it's still very much beach weather, but the beaches are not at all crowded. So the next question is: what it would it cost you to rent something that has approximately this unit's quality and location, at this time of year for a week? If the answer is "a healthy amount above $500," then this week might have tangible value
to you even if it doesn't have a ton of value to others. But, you don't need to pay anyone $4K to get it, for all of the above reasons.
Finally, there is an intangible benefit to owning, and for me it is one of the most important reasons to consider buying: you are committed to pre-paying for vacation lodging every year, and that increases the chances that you actually take vacation. Our culture is not one that celebrates leisure, so having some extra pressure to take time off is often helpful. I can guarantee you I have not saved money by owning timeshares. That's because I took more vacations that I would have if left to my own devices. To be fair, I would have spent SIGNIFICANTLY more money renting all the condos we've stayed in over the years if I had done them all as cash rentals, but I would not have done that so it is a specious comparison.
Finally, timesharing is like visiting the buffet. If you just grab the very first item you see you may find it too salty or bland for your taste. What you need to do is read about all the possible food items that are out there (TUG threads) and maybe sample a few before committing to more (check out the last minute rentals on TUG). If you load up on that first item you see and eventually decide you can’t stand it any longer you can’t just dump it in the trash. You will need to find someone else to take your food from you and if everyone knows it is salty and bland you will have a hard time finding someone even if you are giving it away for free.
This is a great analogy and super advice. It is very easy to buy a timeshare on the secondary market. It is very hard to sell one. You sound like you might like the idea of owning one, but take your time to make a good decision.
