Time Share Ownership Advice

[uaremymuse]

Can anyone explain to me how it makes financial sense to own a time share?


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[CPNY]

Can anyone explain to me how it makes financial sense to own a time share?


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Depends on where you own. Booking a room at Westin in Maui for a week could run 5K+ or you can pick up a resale cheap and pay less in annual fees. Atlantis for example. While owning there is pricy due to the annual fees and high VAT tax, it’s still much much less than booking two hotel rooms at the Atlantis towers.
Timeshares aren’t an investment. (Except Disney).

 

[bizaro86]

Can anyone explain to me how it makes financial sense to own a time share?


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How does it make financial sense to own a car? Just like a car, a timeshare depreciates dramatically. However, in both cases there is use value.

I spend way less on my vacations than I would in hotels, and stay in multi-bedroom condos in nice resorts.

 

[DavidnRobin]

Can anyone explain to me how it makes financial sense to own a time share?


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This...

Seriously- for example I bought 2 resale weeks at a high-end Resort (for good money) over a decade ago and rented them out mainly since then - and they have paid for themselves (plus). Now I can rent them, use them, or get a nice 1Bd (fully contained) at a high-end Maui Resort for $115/nt.

I also own Ocean Front at the same resort (2Bd LO) where I rent the studio side so the one bedroom side costs us only $200/nt (photo above from balcony). Again, a fully contained 1250sqft villa with panoramic OF views.

That is how it makes sense - use them correctly and with forethought.


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[artringwald]

Because timeshares can be difficult to rent, sell, or even give away, you shouldn't buy one unless you're sure your financial future will allow you to travel and use it for many years to come. Having said that, we bought 3 weeks in Kauai. It costs us about $260/night for a 2 bedroom, ocean front unit. Booking at the same property through Expedia would cost over $500/night and would only be partial ocean view.

 

[pedro47]

Owning a timeshare, Does it make sense. No.
Do I enjoy traveling with my family members in a two bedroom unit with a full kitchen; four to six times per year. Yes.
Do I enjoy see my spouse, my parents, my son and my grandchildren and my friends happy. Yes.
Do I enjoy traveling to over ten states in the United States using my timeshare.Yes.
Financially, the average stay at a resort with two bedrooms, full kitchen, two full baths, a living and dining room, with WiFi, with cable tv, three televisions, gas grills for barbecuing with amenities liked a full pool, basketball, golf, tennis courts, pickle ball, walking trails bike trails, and play areas for young children would be over on the low end $200 per night.

Owning a timeshare for my family and I does make sense For all the Happy Memories for the past Twenty-Five Years.

 

[paxsarah]

Is the underlying premise that it can make financial sense to go on vacation at all? If no, then it would never make sense to own a timeshare (outside of a profitable timeshare rental business).

If yes, then others have given a variety of answers about how timeshare ownership can lead to vacations at a lower cost than staying in a conventional hotel (or for a similar cost but in a superior accommodation). I cook some meals in our unit simply because I don’t want to eat out for every meal, and that’s also a cost savings. If you were going to vacation regularly anyway, then timeshare ownership with research and planning can make financial sense.

 

[Jan M.]

If you learn and make good choices about what and where to own it makes excellent financial sense. From July 18-December 19 we were home only 28 nights. We first bought in 2002 and could never, ever have afforded to take all the vacations we've taken all these years without our timeshares. My husband retired in 2017 so we are pretty much free to go any time we want now but even before he retired there has never been a year that we didn't take multiple vacations even when our son was in college, getting married and when my husband changed jobs. My sister and brother-in-law, sometimes with their friends, my nephew and his family, my husband's mother and her friend, his sister and her friends, and his brother and sister-in-law, plus friends of ours have all enjoyed vacations with us and on their own.

Pictures speak louder than words! When you see pictures without people in them, those are views from our units! I'm not even posting pictures from every place stayed during that 5 month time period! Other resorts not included in the pictures are Reunion in Orlando, Palm-Aire in Pompano Beach, Wyndham Nashville, Fairfield Glade also in Tennessee, and Harbor Lights in San Diego. There are other resorts we stayed at during the first half of the year too.

Spring 2019 at Vacation Village at Parkway and Disney World's Saratoga Springs Resort


July/August 2019, with our son, DIL and 2 granddaughters. Wyndham Glacier Canyon with 4 indoor and 4 outdoor water parks and Sundara with the amazing spa. We stayed at both again in September/October with friends, adults only this time.

August 2019, with our two granddaughters. Wyndham Clearwater, Wyndham Bonnet Creek in Orlando and Wyndham Ocean Walk in Daytona Beach. We stayed at OW again in October with our younger granddaughter and also at Star Island. At Star Island there was a dance party with a DJ on the bar side of the upstairs lounge. We are on the other side of the lounge dancing to the music and playing cornhole.




September 2019, Fairfield Plantation in Villa Rica, Georgia, The Lighthouse Resort on Sanibel Island, FL for my husband's birthday and Wyndham Royal Vista in Pompano Beach, FL

October/November, Wyndham Austin.

November Wyndham Portland

November/December Ka Eo Kai and Kauai Beach Villas in Hawaii. The mountain you see in the background is called Sleeping Giant.

December 2019, Caribe Beach Resort on Sanibel Island, FL

 

[dgalati]

If you learn and make good choices about what and where to own it makes excellent financial sense. From July 18-December 19 we were home only 28 nights. We first bought in 2002 and could never, ever have afforded to take all the vacations we've taken all these years without our timeshares. My husband retired in 2017 so we are pretty much free to go any time we want now but even before he retired there has never been a year that we didn't take multiple vacations even when our son was in college, getting married and when my husband changed jobs. My sister and brother-in-law, sometimes with their friends, my nephew and his family, my husband's mother and her friend, his sister and her friends, and his brother and sister-in-law, plus friends of ours have all enjoyed vacations with us and on their own.

Pictures speak louder than words! When you see pictures without people in them, those are views from our units! I'm not even posting pictures from every place stayed during that 5 month time period! Other resorts not included in the pictures are Reunion in Orlando, Palm-Aire in Pompano Beach, Wyndham Nashville, Fairfield Glade also in Tennessee, and Harbor Lights in San Diego. There are other resorts we stayed at during the first half of the year too.

Spring 2019 at Vacation Village at Parkway and Disney World's Saratoga Springs Resort
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July/August 2019, with our son, DIL and 2 granddaughters. Wyndham Glacier Canyon with 4 indoor and 4 outdoor water parks and Sundara with the amazing spa. We stayed tat both again in September/October with friends, adults only this time.
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August 2019, with our two granddaughters. Wyndham Clearwater, Wyndham Bonnet Creek in Orlando and Wyndham Ocean Walk in Daytona Beach. We stayed at OW again in October with our younger granddaughter and also at Star Island. At Star Island there was a dance party with a DJ on the bar side of the upstairs lounge. We are on the other side of the lounge dancing to the music and playing cornhole.
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September 2019, Fairfield Plantation in Villa Rica, Georgia, The Lighthouse Resort on Sanibel Island, FL for my husband's birthday and Wyndham Royal Vista in Pompano Beach, FL
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October/November, Wyndham Austin.
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November Wyndham Portland
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Ka Eo Kai and Kauai Beach Villas in Hawaii. The mountain you see in the background is called Sleeping Giant.
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December 2019, Caribe Beach Resort on Sanibel Island, FL
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How did you like Portland ? Did you do any sightseeing in Washington? Columbia gorge or Mt Saint Helen's area's ?

 

[Brett]

How does it make financial sense to own a car? Just like a car, a timeshare depreciates dramatically. However, in both cases there is use value.

I spend way less on my vacations than I would in hotels, and stay in multi-bedroom condos in nice resorts.

yes, timeshares (bought resale) or rented are often better than comparable hotels

 

[Carta]

Timesharing has changed sooooo much...It used to make sense 20-30 years ago. Now it is NOT worth it.. Simply because of the INTERNET.. Years ago when people were in their 20's and 30's and even 40's, they figured; we can vacation with kids and friends every year and go anywhere..But then reality set in...M-Fees, obligation to travel every year, kids get older and don't wanna go..U and wifey get old and don't wanna go..Guess What? U still must pay Fees that have grown....This why so many companies advertise to "Sell Your Timeshare"...

If ur mind is set on buying a t/s, Never buy a deeded property...Tell them u want a RTU (right to use)....Same as buying deeded property BUT u don't have to pay forever......In my case I bought a cheap t/s 20 years ago..I paid fees EOY (every other year)......I bought just to exchange to other areas...Actually never saw the inside of 1bdrm we purchased ..Worked great for us...Made last fee payment last year....

PS...Makes no sense to buy a T/S....U can use the internet to go anywhere at anytime....There are so many disgruntled t/s owners that just don't wanna pay MF...
I go online and pay owner's MF and they make a profit...Works for me..Plus I help owner

 

[Jan M.]

How did you like Portland ? Did you do any sightseeing in Washington? Columbia gorge or Mt Saint Helen's area's ?

We were only there for two nights, one full day, as a stopover on the way to Hawaii so didn't have time to do much. We stayed at Harbor Lights in San Diego on the way back. Being able to stay at the resorts was nice because it broke up the time spent flying and it also saved us money on our flights.

We did get to see Mt. St. Helen's from the airplane. Our one bedroom presidential unit was very nice. We did walk around the city; a lot more than we intended because we took a wrong turn. Portland has lot of very nice parks and some lovely old buildings. At the end of our wandering I walked back to the resort and my husband went on to Powell's Bookstore to check it out. It's the worlds largest independent bookstore. No way was I going with him because I know what happens when we go to a bookstore together; we are a very bad influence on each other!

Portland likes their food and so did we. We ate at Kells Irish Pub, Tangier Moroccan and Mediterranean Restaurant and had burgers at Bless Your Heart in the Pine Street Market.

It was very easy and cheap to take the TriMet from the airport to the resort and back.

 

[uaremymuse]

Timesharing has changed sooooo much...It used to make sense 20-30 years ago. Now it is NOT worth it.. Simply because of the INTERNET.. Years ago when people were in their 20's and 30's and even 40's, they figured; we can vacation with kids and friends every year and go anywhere..But then reality set in...M-Fees, obligation to travel every year, kids get older and don't wanna go..U and wifey get old and don't wanna go..Guess What? U still must pay Fees that have grown....This why so many companies advertise to "Sell Your Timeshare"...

If ur mind is set on buying a t/s, Never buy a deeded property...Tell them u want a RTU (right to use)....Same as buying deeded property BUT u don't have to pay forever......In my case I bought a cheap t/s 20 years ago..I paid fees EOY (every other year)......I bought just to exchange to other areas...Actually never saw the inside of 1bdrm we purchased ..Worked great for us...Made last fee payment last year....

PS...Makes no sense to buy a T/S....U can use the internet to go anywhere at anytime....There are so many disgruntled t/s owners that just don't wanna pay MF...
I go online and pay owner's MF and they make a profit...Works for me..Plus I help owner

Thanks. Your opinion is my experience. I can rent owner’s time shares for less than what it would cost me to buy and then pay annual maintenance fees. I’m retired so it’s very easy to do this. And of course with VRBO, Airbnb, etc, it’s very renter price friendly. I owned a TS once that I got at zero cost; the last two weeks of the year at Polo Towers, Christmas and New Years for a two bedroom in the Marriott renovated tower. I could never rent them. Why? Because PT were renting them for much less. They screwed their TS owners at every turn. I suspect all the other TS companies do the same. I’m a finance guy and it has never made any financial sense. I understand those who do it and why they do it but it still doesn’t make financial sense given the availability of homes, condos, and TS owners who don’t use them anymore. The numbers just don’t support owning them and I dare anyone to show me numbers that support ownership. The only way it would make sense is if you could write it off as a business expense on one’s tax filings; then it works until the irs questions it, which they will at some point. Thanks for your reply. I really wish they made sense because I’d buy 52 weeks of them and travel non stop. But paying $50k-$75k+ a year in Maintenace fees for a depreciating asset makes little sense. I’ll stick to renting from TS owners, Airbnb, etc.


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[LannyPC]

Makes no sense to buy a T/S....U can use the internet to go anywhere at anytime....There are so many disgruntled t/s owners that just don't wanna pay MF...
I go online and pay owner's MF and they make a profit...Works for me..Plus I help owner

There are also many happy TS owners who would gladly pay the MFs over what it would cost them to rent there. I do agree with you however that "[you] can use the internet to go anywhere at anytime" and you can "go online and pay owner's MF". For some that works for them. For others, as so many have shown in this thread, ownership makes more sense.

After all, this is Timeshare Users Group, not Timeshare Bashers' Group.

 

[LannyPC]

The numbers just don’t support owning them and I dare anyone to show me numbers that support ownership.

I’ll stick to renting from TS owners, Airbnb, etc.

Well maybe you missed a lot of posts in this thread and other similar threads where owners are spelling out clearly how owning TSs make sense to them financially. For a limited number of intervals, the MFs are lesser than what it would cost to rent and they get the weeks that they want.

But for our personal tastes and circumstances, I agree with you that renting from current owners or using AirBNB, or even hotels/motels makes more sense to us.

 

[LannyPC]

I owned a TS once that I got at zero cost; the last two weeks of the year at Polo Towers, Christmas and New Years for a two bedroom in the Marriott renovated tower. I could never rent them. Why? Because PT were renting them for much less. They screwed their TS owners at every turn. I suspect all the other TS companies do the same.

I understand your frustration with this. This is kind of a catch-22 for the resorts. By one stretch, renting these intervals or nights out for less than the MFs screws the owners in that it would make more sense for the owners to rent there rather than own there and pay the MFs. OTOH, credit the resorts for renting out rooms that would otherwise go empty. This is trying to get at least some money into the system that would defray from the owners paying MFs. It might also lure potential buyers there who just might buy an available interval. The renters would also likely be spending money at the resort which, again, would get some money in there to help with the cost of running the resort and, hence, defray from the owners' MFs.

I do agree with you, however from a personal experience. Just over a year ago, we rented through Expedia at a TS resort the exact nights we wanted for less on a per-night basis than what the owners there are paying in MFs (according to For Sale ads on Red Week). But at least it got some money into the resort's system including money that we spent at the resort, rather than that room going empty.

 

[bogey21]

Can anyone explain to me how it makes financial sense to own a time share?

I'll give you another spin on this. For about 10 years I owned Weeks in Ruidoso, NM; Deerfield Beach, FL; Biloxi, MS; Key West, FL; and Myrtle Beach, SC. These were Fixed Weeks/Fixed Units. As I recall my average cost for these weeks was about $750 each and their average MF was between $500 and $600. The beauty of it was I knew when I would be going thus I was able to arrange low cost air fare and car rentals. In addition I had carefully selected Units that I knew I would occupy every year...

George

 

[cman]

Can anyone explain to me how it makes financial sense to own a time share?


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If what someone needed was not readily available on the rental market, owning might make financial sense. If they had a need for a specific week/unit at a specific resort during a time when rentals tend to be in short supply, owning may be the only option for them.

With the exception of the example above, I can't explain how it makes "financial" sense to own a timeshare week when you can rent the same product on the rental market. I too am a numbers guy, and my decision to rent vs. buy is strictly financial in nature. None of the perks of ownership are of any value to me. I just rent the week, enjoy my stay, then it's off to the next one. However, I realize that everyone's not like me. There's a lot of happy owners out there that find value in the things that I don't, and are happy to pay for it. Some find value in the fact that they own something. Some like the flexibility of being to book well in advance, and will pay a premium for it. There's probably a hundred other reasons why people prefer to own, let's just be thankful that they do. If more people decide to own, that's more opportunity for us renters.

 

[bluehende]

Whether it makes sense is always a very personal question. If you want to go a lot of places and have maximum flexibility then a timeshare does not make sense. If your maintenance fees are more than you can rent for a timeshare makes no sense. I am a creature of habit and love going back to the same place every year. This year it will be 16 in a row to our resort in VT. When we first bought it we were saving a couple hundred dollars a year. Now the savings are very small. We keep it because we love going back and biking the trails every year. If only for a week we become a member of that community. We did a lot of charity work after Irene and many business owners still buy me a beer. Our other timeshare is in WV and we are up to 12 years there. It is primarily an owner resort so we have many friends we see. This one is so well run that we save 300 dollars over any rental in the area. For us it is enjoying going back to the same place every year that makes them worth it to us. I am actually surprised how much we covet going back each year.

 

[uaremymuse]

Based on the “pro” ownership side of the equation I guess it could be summarized as people simply enjoying it, and for a variety of reasons vs the alternative “con” side of the equation where it’s not a great financial investment nor practical decision.


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[Snazzylass]

I can't explain how it makes "financial" sense to own a timeshare week when you can rent the same product on the rental market.

Ahemmm..sure, when that is the case. Like any other type of real estate, results likely vary by location. If one buys because one wants to return to the same location over and over again, then your chances improve.
Again and again, folks who own in HI say they are money ahead. I know I am in Sedona.
And, thanks to the internet, I have the opposite problem. There once was a time when it was easy to rent extra nights at my T/S. No more! They are scooped up on AirBnb at double what I would have to pay as an owner. *sigh* Of course, maybe that's what's keeping my MF so reasonable- roughly the cost of 2 nights retail.

 

[Rolltydr]

Can anyone explain to me how it makes financial sense to own a time share?


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Simple answer. If I can afford it, if I and/or family members can use it, if it makes us happy spending vacation weeks together in nice condos instead of hotel rooms, it makes financial sense to me. It doesn’t matter to me if it makes financial sense ro you.

 

[Carta]

Rolltydr, U just don't get it...Must be a rich guy

 

[Rolltydr]

Rolltydr, U just don't get it...Must be a rich guy

Nope, far, far from it. The TS is probably, definitely, our most lavish expense. I just don’t get hung up on trying to figure out if I’m going to recoup my investment. My happiness isn’t dependent on that. I will recoup my investment if we enjoy the TS vacations.

 

[sue1947]

Rolltydr, U just don't get it...Must be a rich guy

No, actually, you don't get it. Whether a timeshare makes financial sense depends on the individual's situation. My last 2 timeshare stays cost me $229 and $300 each for a week in a 2 BR condo. Where are you going to rent a 2 BR condo for that? You don't have to be rich, you just have to be willing to do advance planning and work to understand how to work the system to best fit your needs. Clearly, timeshares aren't for you or the OP. Don't dismiss those of us who have made it work for us just because you can't.
The only way I can afford to travel is via timeshares. Renting from others via any of the platforms has gotten way too expensive. Example: I've been looking to fill in a week in April and the place I want to go and the places I've stayed in the past, are all too expensive. The cheapest house is listed at $125/night, but it's really $210/night with the "management fee", "administrative fee' and "service fee" plus cleaning fee. I'll probably be able to use an AC at II for that week for $300 for the whole week. Timeshares win for me. They may not for you and definitely won't if you aren't willing to learn from others.