- Dec 21, 2014
- Reaction score
Good point. 20 years is too long a horizon for payback if you are approaching your 60s and beyond. Although everyone hopes to be going strong by the time they hit their 80s, there are too many variables including health and paying for retirement care. 5 - 10 years would be a safer planning horizon.It's almost never wise to buy developer. If I pay $60K for a timeshare now (I am 63, almost 64), if I use it 30 years, I am paying $2K per year for the purchase. Add in the MF's, and i am at $3,000 for a week of timeshare per year. I own a lot of timeshare, and not one of them is this expensive. This is why I won't go on a Marriott presentation, not ever again.
This is another reason resales make sense. Less capital = Faster payback. And if one should (er) kick the bucket, your heirs are not legally required to take it and it can be surrendered right back to the HOA for free. How's that for a guaranteed exit plan?