Questions on getting a free timeshare

[sseligson]

I notice that these days there are a lot of free timeshares out there. I live on Long Island New York and am considering getting one of these free or inexpensive time shares.

There are many things I don't understand maybe you can help me.

One of the free ones I was looking at was at shawnee Mountain in PA. It was for week 5. Which sounds to me like it is the first week in Feb.

With 3 children all in school there is no way to go away for a week during the feb unless it is our Feb break (Which it is not) .

So how would I find out how tradable something like this is. Would it be possible for me to trade it every year for Christmas week? Is it easy to trade within the resort.

Is it safe to say that the most popular weeks of times shares or week 52 and week 1?

My thought is also to get a week at a place that I can drive to and actually use in case I do not want to trade or it is not tradable.

Please give me an advice you can.
Thank you.

 

[dmbrand]

Week 5 in the Poconos is probably not going to have much value for trading purposes. If you like the resort, wait for a summer week to come on the market. I believe that you can access a resort's demand index from both RCI and Interval International without being a member. These can be helpful from a trading perspective.

I just chose this resort for an example in Interval:
Shawnee Village - Ridge Top Summit Click on the Travel Demand Index; you will be able to see which weeks are in highest demand for this area.

While you are waiting, do as much research as you can about fixed weeks, float weeks, and points ownerships. Plus, read as much as you can about the exchange companies. Check reviews on TripAdvisor/other review sites, or joing TUG and read reviews submitted here. This isn't a purchase that you want to jump into headfirst.

Keep in mind that a free timeshare isn't really "free." They are just referring to the initial outlay of $$. Any resort you choose will have yearly fees that you are obligated to pay; plus any possible future special assessments for upgrades. It is more difficult to disown a timeshare, than it is to acquire one.

 

[stevedmatt]

For Shawnee, I know you can rent week 52 for about the same as you will pay in MF, RCI or II membership, and transfer fees combined. And I'm almost positive you can do that every year, but I have no clue if it will be available as a trade with the week 5 week you would be searching with.

Also, you should check out the resort itself before purchasing. Many of the units are Shawnee are dated and not up to the standards of many people. We do find the Ridge Top units acceptable for our ski vacations.

You could also check out VRBO and rent a home or condo directly from an owner.

 

[Phill12]

Take your time looking at timeshares before jumping in! Most of these FREE timeshares are offered by the owners because they have no trade or cash value to others.

Too many people bought the first timeshare they stayed in and not knowing what they were doing just paid to much and bought a low tier resort or area. Remember nothing is free because you still have closing/transfer fee's unless the owner really wants out and will also pay these cost or half with buyer. I have seen this done and also some offer to even pay buyer extra from couple hundred to a thousand dollars to take it. Don't forget that every year you have to pay maintenance fee's and some of these resorts also hit owners with special fee's.

We own at a nice resort and well up for our fourth of July week talking to another owner and we sold our second unit for few thousand dollars. Many resorts still have demand and yes the price has fallen but they still have value.

Remember free is nice start but the timeshare will still cost you money for years to come and getting something with little or no value means you might have same problem down the road when you decide to sell it.

I always recommend that first time buyers stay at a resort for a week and learn more about it. Buy where you and your family would enjoy going for years and exchanging is just a bonus to owning. Renting a week you want each year cheaper than the long term cost of owning at this time.

Good Luck! Phil

 

[DeniseM]

You should take you time, and acquire a timeshare that is when and where you want to go. If you buy a timeshare at an undesirable resort or off-season, it will only trade for the same.