Is buying a timeshare 'ever' a good idea?

[bastroum]

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.

I also own my own company and travel over 14 weeks a year. My schedule is the same as yours. Work early in the morning and in the evening with calls and emails during the day. I've never had so much fun working. I can do this all because I'm in a timeshare. Never been happier.

 

[Ken555]

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.

+1

This flexibility is the only way I can justify timeshares while working, and why the quality of Internet access which we sometimes criticize is so important to the success of our stay.

Most people, even those whom work with me, don't know where I am every time I travel. That's actually a good thing.

 

[MichaelColey]

But back to the OP's question...

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.

For some people, probably not. For many (maybe even most?), it can be a fabulous idea.

There are so many different ways to timeshare that they can fit almost any travel patterns, family situations, etc.

If you have a larger family (more than 4 people), timeshares are awesome because of the space. Most hotel rooms only accommodate 4.

If you want to travel economically, timeshares can be a great way to do that. The costs are usually in line with a low-end hotel (or at least they can be if you get the right ones), and the kitchens allow you to cook instead of eating out.

If you have family members with special dietary restrictions, you can cater to those needs by cooking meals instead of having to find restaurants that will work.

Some situations where buying a timeshare might not be a great idea...

If you don't vacation.

If you don't/can't plan ahead. While you can do last-minute stays with timeshares, it's usually better to plan ahead (6-24 months, typically). Not everyone can do that, and timeshares are far less useful/valuable if you can't plan ahead.

If you can't afford it. It's not just the upfront costs, but also the (ever increasing) annual maintenance fees, special assessments, and the cost of getting rid of it when/if it's no longer useful to you.

If you don't typically vacation a week (or multiple weeks) at a time, from Fri-Fri, Sat-Sat or Sun-Sun. Some systems do allow more flexibility in check-in days and stay lengths, but timeshares are still mainly weekly stays with Fri/Sat/Sun check-ins.

If you like to vacation primarily to urban areas. Many don't have timeshares, and most that do (like NYC) are more expensive and hard to get into. Timeshares are primarily in tourist areas.

If you like the pampering that comes with high-end hotels. That's just not how timeshares work.

If you're in poor health.

If your travel patterns, family, or life circumstances are changing drastically. While timesharing can work with different travel patterns, family situations, etc., what works best for one might not be the best for another. You'll want to figure out what works best for YOU, and if that's changing it might be best to wait until things are more stable.

 

[MichaelColey]

Are you hiring?

Sure. But the people who work for me don't get to take 14 weeks of vacation.

 

[Ridewithme38]

But back to the OP's question...For some people, probably not. For many (maybe even most?), it can be a fabulous idea.

There are so many different ways to timeshare that they can fit almost any travel patterns, family situations, etc.

If you have a larger family (more than 4 people), timeshares are awesome because of the space. Most hotel rooms only accommodate 4.

If you want to travel economically, timeshares can be a great way to do that. The costs are usually in line with a low-end hotel (or at least they can be if you get the right ones), and the kitchens allow you to cook instead of eating out.

If you have family members with special dietary restrictions, you can cater to those needs by cooking meals instead of having to find restaurants that will work.

Great for single fathers too!

f you are a single father who has to submit dates 4+ months ahead of time for summer visitation(I get anything i submit, but they have to be submitted), having a timeshare allows you to be able to submit those dates 12+ months ahead so you don't have to rush last minute to get those dates in.

If you are a single father of a daughter who is growing up WAY to quick, staying in a single room isn't ideal, the flexibility of 2 bedrooms is a godsend!

If you are a single father, but still get along with your ex. You have the room to vacation with your ex and your children(it's important to show a kid, his/her parents are friendly) and still have a private space for everyone to get away from each other when needed.

If you are a single father paying child support, money is tight, the full kitchens allow you to save enough money making breakfast and lunch(and a couple dinners) to have extra pocket money to do everything else.

If you are a single father with only one child, the extra room allows you to be able to invite the daughters friends along, or invite family friends with kids, with no housing cost to them.

 

[Ridewithme38]

Sure. But the people who work for me don't get to take 14 weeks of vacation.

I promise to never take a single day of vacation....As long as i can work from a beach or a balcony!

 

[x3 skier]

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?

Retired from full time work 17 years ago and can vacation 52 weeks a year if I want. OTOH, Since I also now own my own consulting business and work when I want for three times the pay as when I was working full time I am the key employee.

Cheers

 

[Ridewithme38]

Retired from full time work 17 years ago and can vacation 52 weeks a year if I want. OTOH, Since I also now own my own consulting business and work when I want for three times the pay as when I was working full time I am the key employee.

Cheers

Damn, i forgot about retirement! Only 35 more years for me!

 

[x3 skier]

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

No, it really is twelve weeks and the knees, while not perfect, are good enough.

Cheers

 

[booklvr]

Made our purchase

Well, after considerable research and discussion we have made our purchase.

We bought a 2Bdrm LO at the Sheraton Vistana Resort, fixed week in high season. Purchased for $1.

This purchase is right for us. It's at the resort we like and suits our lifestyles. We're very pleased with the purchase.

I appreciate all of the input received from people on this forum. You gave us good discussion points and topics to research.

 

[PamMo]

Well then, congratulations on getting your first timeshare! Hope to see future posts from you on how much you're enjoying it! (I highly recommend you join TUG!)

 

[LisaRex]

Sounds like a pretty low risk way to introduce yourself to timesharing. Warning: Once you stay in a villa, it's very difficult to go back to a hotel room!

I hope you have many great vacations in your future!

 

[chriskre]

Well, after considerable research and discussion we have made our purchase.

We bought a 2Bdrm LO at the Sheraton Vistana Resort, fixed week in high season. Purchased for $1.

This purchase is right for us. It's at the resort we like and suits our lifestyles. We're very pleased with the purchase.

I appreciate all of the input received from people on this forum. You gave us good discussion points and topics to research.

I'm glad and surprised that you decided on Orlando.
Not that there is anything wrong with that, I'm addicted to the Mouse myself.

This is actually a beautiful resort. I've stayed here many times with those free resort certs that RCI sticks in our accounts every now and then. :ignore:

Now that it's all remodeled you shouldn't get a bad room. :whoopie:

 

[VacationForever]

Well, after considerable research and discussion we have made our purchase.

We bought a 2Bdrm LO at the Sheraton Vistana Resort, fixed week in high season. Purchased for $1.

This purchase is right for us. It's at the resort we like and suits our lifestyles. We're very pleased with the purchase.

I appreciate all of the input received from people on this forum. You gave us good discussion points and topics to research.

Congratulations! I too own a 2BR LO at SVR amongst several others, and while it does have slightly lower trading power compared to Scottsdale resorts, the trading power is still great. My SVR (Lakes) MF is higher compared to SDO. With a 1BR side, I could see 2BR at WMH (and I have in fact traded into it March of one year), HRA 1BR, 2BR at WLR etc. SVR trading power is not gloom and doom.

 

[csxjohn]

Well, after considerable research and discussion we have made our purchase.

We bought a 2Bdrm LO at the Sheraton Vistana Resort, fixed week in high season. Purchased for $1.

This purchase is right for us. It's at the resort we like and suits our lifestyles. We're very pleased with the purchase.

I appreciate all of the input received from people on this forum. You gave us good discussion points and topics to research.

Congradulations! From what you've written this should work out well for you.

 

[timeos2]

Well, after considerable research and discussion we have made our purchase.

We bought a 2Bdrm LO at the Sheraton Vistana Resort, fixed week in high season. Purchased for $1.

This purchase is right for us. It's at the resort we like and suits our lifestyles. We're very pleased with the purchase.

I appreciate all of the input received from people on this forum. You gave us good discussion points and topics to research.

You followed most of the important rules to happy timeshare ownership.

You didn't buy retail! VERY important for a viable plan. You only have the annual fees as your costs which makes the per night cost easy to establish. Of course you have an upscale room with 2 bedrooms & full kitchen vs a hotel room so even if it is more than the Motel 6 you're doing very well. If you ever need to sell you can sell cheap and not lose anything. Great move.

You bought where you like and want to stay. Not depending on any type of exchange or rental to get what you want - and when - is a great way to own. It is drivable if required (not tied to potentially unreasonable air fare). If you do decide to rent of trade as an occasional option you have a great resort in a high demand time so either should yield good results. As an aside you ignored the "never buy Orlando" mantra. While in general that is a legitimate bit of advice - I'd say the same for Hawaii (too much to get there), Las Vegas, Williamsburg, Branson and virtually any resort with big seasonal swings in demand (too much inventory and/or fees too high compared to renting) Orlando has virtually year round demand and despite a glut of inventory if you want the good resorts / times you need to own there.

You did well for a first (or any) purchase. Enjoy!

 

[booklvr]

Thanks everyone! We are looking forward to our trip in 2014. Yes, we ignored the 'never buy in Orlando' advice. We just like Orlando and wanted to own there. We'll be going there for several years now.

I too, am addicted (addicted doesn't quite describe the level of fan-dom) to the Mouse as mentioned by another poster. I never tire of it and I really love Orlando's Downtown Disney. It's much bigger and more beautiful than the one in California.

I will absolutely join TUG. Thanks again for all the tips and advice. Much appreciated!

 

[Ken555]

Thanks everyone! We are looking forward to our trip in 2014. Yes, we ignored the 'never buy in Orlando' advice. We just like Orlando and wanted to own there. We'll be going there for several years now.

I too, am addicted (addicted doesn't quite describe the level of fan-dom) to the Mouse as mentioned by another poster. I never tire of it and I really love Orlando's Downtown Disney. It's much bigger and more beautiful than the one in California.

I will absolutely join TUG. Thanks again for all the tips and advice. Much appreciated!

Congrats with your purchase! When and if you don't want to visit SVR, you'll be happy with the results you will receive when trading - I've had great trades with my weeks.

 

[chriskre]

Thanks everyone! We are looking forward to our trip in 2014. Yes, we ignored the 'never buy in Orlando' advice. We just like Orlando and wanted to own there. We'll be going there for several years now.

I too, am addicted (addicted doesn't quite describe the level of fan-dom) to the Mouse as mentioned by another poster. I never tire of it and I really love Orlando's Downtown Disney. It's much bigger and more beautiful than the one in California.

I will absolutely join TUG. Thanks again for all the tips and advice. Much appreciated!

And now for your next timeshare you'll be looking at ways to get into DVC once you join TUG and pay your $15 and see all the DVC trading options that you are missing not being a member.

 

[booklvr]

I would really love to own at DVC. We have gone to two of their presentations. It's too pricey for us though. (right now!)

 

[PassionForTravel]

I don't think chriskre was talking about you buying DVC. It was a hook. He was talking about that after you join TUG you will be able to see the DVC deposits in the sightings forum and then you will want to buy another unit as an RCI trader so you can trade into DVC.

Ian

 

[booklvr]

Oooh! I did join TUG. I'm waiting for their email so I get my login info. I'm not sure even what it means to buy another unit as an RCI trader. I will find out though!

 

[SMHarman]

I'm not sure even what it means to buy another unit as an RCI trader. I will find out though!

Buying a unit in a resort at a time and place and location (e.g Easter in a location familes want to go) that you may have little to no desire to go to but due to the time and location has a strong RCI TPU score so you pay the MF and deposit it into RCI to go Disney hunting.

 

[tomandrobin]

Buying a unit in a resort at a time and place and location (e.g Easter in a location familes want to go) that you may have little to no desire to go to but due to the time and location has a strong RCI TPU score so you pay the MF and deposit it into RCI to go Disney hunting.

I am still bummed by DVC's switch back to RCI from II.

 

[YYJMSP]

Most people, even those whom work with me, don't know where I am every time I travel. That's actually a good thing.

We were in Europe for a month and some of my clients didn't realize I was away until about half way through the trip when I had to decline a bunch of in-person meeting requests, and explain why I couldn't meet with them on Thursday