Is buying a timeshare 'ever' a good idea?

[booklvr]

Is buying a timeshare, resale or otherwise, ever a good idea? I'm not being sarcastic with this question but just really interested in your responses.

We are on the cusp of making a decision and your input to my previous questions on this forum have been very helpful.

 

[chriskre]

No, unless you want to vacation in comfortable accomodations at Motel 6 prices.

Do you think we'd be here every day if we didn't think it was a good idea?

 

[DeniseM]

Yes - but, it really depends on 1) your goals, and 2) the timeshare.

You are considering buying in Orlando where prices are very low, and there is more supply than demand - renting may make more sense there.

All the options can be overwhelming - it's just too soon for you to make a decision - please don't rush into something you may regret later - you aren't ready yet.

 

[booklvr]

Do you think we'd be here every day if we didn't think it was a good idea?

Yes, actually. I think the forum is a good community resource but that doesn't mean everyone would recommend buying a timeshare. If you had to do it over again, would you still buy? Do you recommend for others to buy?

 

[DeniseM]

People who come to TUG because they are unhappy about timesharing don't hang around long:

1) They don't really want to learn how to use their timeshare.
2) They want to blame someone else for their decision to purchase a TS.
3) They want someone to bail them out.

The people who stick around stay because they find timesharing worthwhile, and want to learn more about optimizing their ownership.

 

[PassionForTravel]

Yup and we did.

My GF bought WOrldmark from the developer 10 years ago. Over the years we've gotten better at using it and have learned to hate hotels. This year we realized it could help us to realize our dream so we've significantly increased our WM ownership resale, added HGVC and are in the process of buying Marriott and Starwood.

The places we are going over the next 18 months at the prices we are going is amazing. But it's taken a lot of work to learn each of the systems and what would make the most sense to buy.


Ian

 

[LisaRex]

If you're talking purely in terms of dollars and cents, then it USUALLY isn't a good idea. However, there are people who do come out way ahead in the game...for instance, those who paid a few hundred bucks for a resale SDO 2 bdrm, deposited it into II, and then exchanged each side for a 2 bdrm in Hawaii or HRA. There's no question that these people are coming out ahead.

Generally speaking, if you want to try and play that game, you have to be flexible with your travel dates, able to travel during shoulder and low season, and willing to spend a lot of time searching II inventory for the best deal.

If that isn't you, then your gut is correct. It probably makes better fiscal sense to simply rent, especially since Starwood MFs are some of the highest in the industry, and the economy is still sluggish, which means many owners are content to try and rent out their units for the cost of MFs. There's very little incentive to buy now when you can rent the following*:

Marriott Summit Watch (Park City) 2/2 ski - $3000
Marriott Grande Ocean (Hilton Head) 2/2 OF summer - $1800
WKORV 2/2 OF June- $2900
Marriott Maui Ocean Club - Napili 2/2 OF summer - $3000
HGVC at Hilton Hawaiian Village (Oahu) 2/2 OF - $2800
Royal Cancun Club 2/2 OF many weeks - $1000
Marriott's Grande Vista (Orlando) 3/3 - $1850
Sheraton Vistana Villages (Orlando) 2/2 - $1000
Marriott OceanWatch (Myrtle Beach) 2/2 summer OV - $1800/OF $2500
Westin St. John Bay Vista summer 3/3 - $3500
Marriott Aruba Surf Club winter week 2/2 OV - $2600
Hyatt Pinon Point (Sedona) 2/2 May - $2200
HRA summer 2/2 fall $1600 summer $3500
*all current or marked as rented on Redweek

 

[chriskre]

Yes, actually. I think the forum is a good community resource but that doesn't mean everyone would recommend buying a timeshare. If you had to do it over again, would you still buy? Do you recommend for others to buy?

Well we don't recommend buying just any old timeshare.
There are alot of duds out there and as DeniseM says if you are thinking about buying in Orlando you may not be ready just yet.

With that said, I own 3 ownerships in Orlando and I get a ton of use out of them but I sorta know what I'm doing and live in Florida.
All 3 are points resorts. One is DVC, one HGVC and one RCI points.
I would never recommend buying a weeks TPU timeshare in Orlando unless it was a Marriott or Starwood.
But everyone has their opinions about Orlando, I'm not as negative as most since me and the mouse are tight.

 

[csxjohn]

Is buying a timeshare, resale or otherwise, ever a good idea? I'm not being sarcastic with this question but just really interested in your responses.

We are on the cusp of making a decision and your input to my previous questions on this forum have been very helpful.

Yes!
I bought a timeshare this year because trying to rent at a reasonable cost where and when I wanted to vacation last year did not work for me.
I was looking for a unit on the Atlantic ocean anywhere between Ocean City MD and the FL keys during week 27. Good luck with renting that for anywhere near MFs.
I bought a floating week on the ocean where I'm reasonably sure I'll be able to get any week I want.

I'm also very happy with the 2br lock off I have near Orlando in Poinciana. It's not close to the hustle and bustle but a very reasonable drive to the theme parks. I can stay there for 2 weeks if I choose, one week in each side of the lock off.

For someone spending money to fly to Fla, this is a nice option. PM me if you'd like to know more about that unit and how I use it.

 

[ronparise]

This is probably the wrong place to ask a question like yours; "Is buying a timeshare 'ever' a good idea?" We are a community of happy (most of the time) timeshare owners. I would think we can always come up with a few good reasons to buy a timeshare

Having said that Timeshares are not for everyone, and my reasons for buying will be different from yours

 

[VacationForever]

You will get different responses from different people. Since you are on the TUG forum, TUGgers love owning timeshares. Most of us here have 3/4/5/6 weeks and upwards. If we don't love timeshares why would we own so many?

Some of the questions you need to ask yourself is how do you want to vacation, i.e, how often do you vacation, where would you like to go, how much money you would like to spend, in what style would you like to vacation? If you have no idea then do not buy until you have roughly it figured out.

 

[Passepartout]

Dumb question to ask here. Like going to a Porsche or hybrid car enthusiast website and asking if it's a good idea to buy a Porsche or hybrid car. Well, DUH!

Otoh, there a LOT of times and reasons NOT to buy a timeshare. Like if you have to finance it. Or it exchanges poorly and is in Timbuktu and you can't travel there to use it. Or (almost) any time it is a developer sold week in an overbuilt resort area where rentals are easy and cheap.

Just ask if you have 'should I buy?' questions about a specific resale. We will help you evaluate if it's right for you.

Jim

 

[bastroum]

I've owned vacation homes in the past. I've also stayed at luxury hotels at great locations. There is no more cost effective way to travel than timeshares, if you want space and location. The key is you have to USE the timeshare. Nothing is worth it if you don't use it!

 

[presley]

It's a good idea if you use it. It's a fully maintained vacation home. If you don't use it, it's no different than burning money.

 

[jarta]

^^^ Buying timeshares at upscale Starwood Vacation Ownership resorts (resale or developer, mandatory or voluntary) - for the most part - is an alternative to buying a 2nd vacation home. But, just for the limited periods of time you would use that 2nd vacation home, for much less money (usually no mortgage) and with much more flexibility of use.

No cutting the grass - or hiring or firing a landscaping service to do it, no water leak or fire worries, no insurance costs, no cost of furnishing 2 places, the amenities and degree of polish is similar to home and, if something is wrong when you arrive, maintenance is right on site. There is no lying awake at night wondering if everything is OK at your 2nd place while you are at home.

For those with the disposable assets to consider buying a 2nd vacation home, the leisure time to vacation often and the revenue or accumulated assets to pay the yearly expenses of MFs, cost of travel and incidental travel costs during the stays, it makes sense. For those who don't have these things, it often makes no sense at all because the risk of loss is too great compared to the assets available. Salty

 

[PamMo]

Is buying a timeshare, resale or otherwise, ever a good idea? I'm not being sarcastic with this question but just really interested in your responses...

Yes! But as others have noted, "good" is highly situational when you're talking about timeshare ownership. Seriously, if you're on the cusp of buying, you need to decide for yourself whether it's a "good idea" or not. One size does NOT fit all.

Would I buy again? It all depends on which timeshare you're asking about. I've already sold/given away several timeshares that I thought would be perfect for our family, but I was wrong. Other timeshares have been an absolute joy to own. We have GREAT vacations with our family, at prices well below rental costs. We have always traveled a lot, so shifting to timesharing was pretty easy.

Good luck with your decision!

 

[tomandrobin]

Works for us!

 

[Pmuppet]

Is buying a timeshare, resale or otherwise, ever a good idea? I'm not being sarcastic with this question but just really interested in your responses.

We are on the cusp of making a decision and your input to my previous questions on this forum have been very helpful.

Depends... It is a complete luxury IMO. Too many folks buy when they truly can't afford it (heck I did when I couldn't afford it).

I recommend staring off slowing by buying every other year properties.

 

[momeason]

I've owned vacation homes in the past. I've also stayed at luxury hotels at great locations. There is no more cost effective way to travel than timeshares, if you want space and location. The key is you have to USE the timeshare. Nothing is worth it if you don't use it!

As other posters have said, it can be a good deal. It takes a lot of work to learn to maximize your timeshare. I enjoy the research and the game of trying to beat the system.

I do everything mentioned. We research, we are flexible (retired) and enjoy traveling in shoulder season with less crowds. We also plan ahead and place requests for " bucket list " Places and with patience we always get there. My husband and I are bargain hunters. Most of us TUGgers are bargain hunters. We do all this for the score.
You cannot expect things to be as any timeshare salesman has ever told you. You cannot just decide where and when you want to go and expect to make the exchange without a lot of planning and sometimes, it just cannot be done especially in peak season.
With that said, I hate hotel rooms now. I love my timeshare!
I am on my second..I upgraded last year. Bought one, sold my first. I work really hard at resisting buying more. ( that bargain desire again) Once you have one you have access to buying extra vacations. To me, that is the best of both. That is why I recommended that you buy a desirable EOY to start.
I have a 2 bedroom SDO, but we use it and have owned a TS since 2007. We know we love timesharing.

 

[x3 skier]

Since I can spend 12 weeks skiing in Steamboat Springs, one week in London and one week just about any other place in the world each and every year for less than $5000 a year, it works for me. I spent that much on our vacation condo every six months and only used it 3-4 weeks a year before we sold it.

Cheers

 

[Ridewithme38]

Since I can spend 12 weeks skiing in Steamboat Springs, one week in London and one week just about any other place in the world each and every year for less than $5000 a year, it works for me. I spent that much on our vacation condo every six months and only used it 3-4 weeks a year before we sold it.

Cheers

You take 14 weeks of vacation a year?? What i've been wondering lately...is timesharing a good decision when it comes to most peoples careers....If you can take 14 weeks vacation a year, you can't really be a 'key' employee can you?

As i've said before, i grew up with parents who lived work and because of that, never vacationing more then 3-4 days a year...Their careers have soared, becoming the top people in their industry....I don't know if that would have happened if they had vacationed 14 weeks a year

 

[jarta]

What i've been wondering lately...is timesharing a good decision when it comes to most peoples careers....

No, for most. For most, first, the career; then, the timesharing.

If you can take 14 weeks of vacation a year, you probably were a "key employee" earlier in your career.

But, I assume "12" is really "1-2." And, if it isn't and the OP can afford that lifestyle (and still has good knees), who cares? Salty

 

[SMHarman]

You take 14 weeks of vacation a year?? What i've been wondering lately...is timesharing a good decision when it comes to most peoples careers....If you can take 14 weeks vacation a year, you can't really be a 'key' employee can you?

As i've said before, i grew up with parents who lived work and because of that, never vacationing more then 3-4 days a year...Their careers have soared, becoming the top people in their industry....I don't know if that would have happened if they had vacationed 14 weeks a year

This is a very American work ethic. Europeans have a view that 4-6 weeks of vacation a year is restorative and clears the head to allow you to come back to work focused and refreshed. Many European firms require a block leave of 2 weeks. Even in manufacturing many European firms shut production lines and factories down for a week at Christmas and Easter.

 

[MichaelColey]

If you can take 14 weeks vacation a year, you can't really be a 'key' employee can you?

I take over 14 weeks of vacation a year, and as the owner of my companies I consider myself a pretty "key" employee. Of course almost every vacation is a working vacation. I'll work in the mornings and evenings and handle various phone calls and emails throughout the day.

Timeshares make that much easier. I can work in my makeshift office in the living area in the mornings and/or evenings without disturbing my kids who are sleeping in their bedroom(s). We have plenty of room to spread out, and the kids don't mind a "resort" or "pool" day if work is more demanding one day. With MagicJack, my business line rings at the office, at my house, and wherever we are in the world.

 

[Ridewithme38]

I take over 14 weeks of vacation a year, and as the owner of my companies I consider myself a pretty "key" employee. Of course almost every vacation is a working vacation. I'll work in the mornings and evenings and handle various phone calls and emails throughout the day.

Timeshares make that much easier. I can work in my makeshift office in the living area in the mornings and/or evenings without disturbing my kids who are sleeping in their bedroom(s). We have plenty of room to spread out, and the kids don't mind a "resort" or "pool" day if work is more demanding one day. With MagicJack, my business line rings at the office, at my house, and wherever we are in the world.

Are you hiring?