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Timeshare vacation travel - would you do it again?

Discussion in 'The Okie Corral' started by Hummer, Jan 24, 2012.

  1. Hummer

    Hummer Big Member

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    My wife is thinking about buying a timeshare from a friend that would provide a week stay in resorts around the world. Cost is about $2500 + <$400/yr fees. I'd like to hear about your timeshare experiences, the good, the bad and the ugly. What should we look for, or avoid? Have your experiences been worthwhile, did you get your money's worth, and would you buy a timeshare again if you had it to do over?

    A few years ago we joined family at their rci timeshare in Kauai and had a good vacation, but after sitting in on a sales spiel, I swore I'd never do it again. I just hate the multi level marketing BS. It that avoidable or are you always having to fend off the sharks?

    What do you say, yea or nay?
     
  2. RichJ

    RichJ

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    Everyone I've ever known who had a timeshare was either trying to pawn it off on someone else or trying get out of it alltogether.

    Seems like it would just be easier to make reservations a year in advance instead of being chained to the timeshare.
     

  3. All Pro Sports Hero

    All Pro Sports Hero

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    ^This^

    Why limit yourself? Just book your vacations wherever you want to, whenever you want to.
     
  4. G33

    G33 Frisky! CLM Millennium Member

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    There are two programs.
    1. Timeshare own a week or multiples. Problems built in like fees.

    2. Travel vacation club.
    Less problems as you own nothing.
    You rent the timeshare.

    On plan #2, add the up front costs.
    Compare to a vacation package.



    Outdoor Hub mobile.
     
  5. Dennis in MA

    Dennis in MA Get off my lawn

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    Is the friend Reselling it at $2,500??? I'd offer for her to pay you $1,000 and next year's fee. Then it might be worth it. Otherwise, pound sand.

    I've only heard of 1 person in 30 years that liked their timeshare and got their $'s worth out of it.
     
  6. MrKandiyohi

    MrKandiyohi Millennium Member

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    Don't buy the timeshare from your friend, rent it. Each year, you can then decide whether or not to go back there.

    Don't buy a timeshare.
     
  7. PBCounty

    PBCounty

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    I'm thinking about picking one up....but it's at a place that I go to every year anyway and have done so for years (even going back to when I was a youngin' staying with parents). Buying in would save me about half of what I'd pay every year anyway and I know my desired week would always been available. The area activities are also cheap and the drive is a quick one so I know that nearly regardless of future circumstances, I'd be able to enjoy the investment. Without these conditions; I wouldn't buy into one - like another poster said, it seems everyone with a share is trying to get rid of it.
     
  8. Psychman

    Psychman NRA Patriot Life Member

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    DO NOT BUY A TIMESHARE even if you love the place you go to every year. The contracts all have maintanence fee increases built in. It is not the initial cost of the time share that is the problem, but the fees you have to pay over the course of 30 years which can increase at the whim of the manager. If you have storm damage for example they can assess extra fees for that. If they want to upgrade the units you will be charged for that in addtion to the regular fees. They are bottomless pits of $$$$. I hope I made myself clear.

    PS I finally found people willing to rent my unit week for basically the cost of my mantanence fee. Thank God.
     
    Last edited: Jan 24, 2012
  9. DanaT

    DanaT Pharaoh

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    Even if it costs half as much, look at what interest will add to that. If you intend to pay with cash, look at the future value of your money and determine if it is a good deal.

    For vacation, I have found it is better to just pay for what you can afford that year.

    As an example, 8 days in the Hilton on Waikiki Beach cost me $1700 last christmas (PS. The hotel was modern and the best....40 years ago...now it leaves some to be desired). I am not sure if saving $700 is worth tying you money up for.

    Liquidity is a good thing to have.

    -Dana
     
  10. PBCounty

    PBCounty

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    I think buying (in my case) adds another component for people who are like me in that it "forces" you to take your vacation during the desired time, and to take one for the proper length of time. I too easily delay my vacations or trim them down to only a couple of days because I have too hard a time letting go of my work.
     
  11. Officer X

    Officer X

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    We bought into the Disney Vacation Club (DVC) and our "home resort" is the Bay Lake Tower (at the Contemporary) in Disney.

    Its not exactly like a time share as you purchase points that you can use at different Disney Resorts, but you get preference for booking at your home resort. You're not locked into a certain week or two of the year, you can go when you want.

    They are also hooked up with RCI so you can exchange your points to go to over 500 other destinations.

    So far we love it
     
  12. CrookCounty

    CrookCounty Trolling Noob

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    HUMMER!!!!! Back slowly away from the timeshare.....we will get you through this!!!
     
  13. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    If you honestly like to travel (you are going to do it every year) Look into vacation club that feeds you right into the RCI and/or II systems. Dont buy timeshare. There is no need.

    Lets look at a few things. Timeshare resorts are often pretty sporty. They really are, for middle income people, a "better place" to stay than most hotels for middle income people.

    However, there is no need to buy. That is often a bad idea. There is so much empty timeshare that they put a lot of it on the market (the RCI/II systems) You can get the same experience by simply renting where and when you want. It is most often cheaper than hotels with larger accommodations in prime areas.

    Again, timeshare resorts are often pretty good vacations...dont let the bad rep of "timeshare" (the buying of it) confuse you. Think about it like owning a nice car. You want to own the car...it really is cool but the process sucks. They are two diferent things.

    There are some other options but I will leave it at this for now.
     
    Last edited: Jan 24, 2012
  14. MooseJaw

    MooseJaw NRA Lifer CLM

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    Depends on how much lattitude you have..


    If you think you can pick a resort, and a date, like you do with a hotel, well.. you've got another think coming..


    However, if you can pick a general area, and a general time.. well.. generally, it could work..


    Bon Voyage.. :wavey:
     
  15. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    This is true.

    If you buy a weekend in Dumpwater Florida on the cheap(under 10,000), you are not going to be able to trade it for much of anything. If you have a 4 star Maui for Christmas....(that you probably paid 6 figures for) you can pretty much have what you want when you want it.

    If you go the vacation club way (just buy the rights to the availability list, the RCI or II ) you will get what is available...and a lot is available but sometimes, not what you want.

    Another option is people are always trying to rent their week.(people who own) Ebay and the like is packed with such offers. So you could simply look at this and see if that works for you. You dont have to buy a timeshare, you dont have to buy into a vacation club...you just rent.
     
    Last edited: Jan 24, 2012
  16. Huaco Kid

    Huaco Kid

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    I made a lot of money in the 80's selling timeshare to people sight-unseen, using my intimate knowledge of a place even I had never seen.

    I assume the "industry" has changed somewhat since my day but I know the tactics haven't.

    I wouldn't buy one.
     
  17. cphilip

    cphilip

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    My Cousin, who was the biggest flim flam confidence man I have ever known sold time shares. Just from that the whole process scares me.

    I have given thought from time to time to a joint ownership home though. Those have appealed to me at times but they are a good deal more expensive. This would be one of those situations where a group of your bought a place at say one location (the Beach) and split ownership up and divided it up into four weeks per owner (one each season) per year and then shared the maintenance fees. Never followed through on one though.
     
  18. geminicricket

    geminicricket NRA Life member

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    I do own a timeshare at an expensive resort in Kissimmee Fl next to DisneyWorld.
    It cost me $13,000 in 1998 or whenever I bought it. It costs me $800 each year in maintenance fees and property tax. That $800 number goes upward a few percent every year. The purchase of new timeshare weeks at that resort is now priced over $50,000.

    That does not mean that I made a great investment. It means that I got screwed out of thousands of dollars and the next fool is getting screwed out of more thousands of dollars. Recently, 1% of people who wanted to sell their time-shares in a calendar year were able to. If I were to offer my timeshare for sale at $13,000.00, I'd have a 1% chance of selling it in a year. That sucks. It sucks because:

    Time share resorts are willing to rent their suites for less than I pay in maintenance and taxes. Using my RCI membership, I was able to get a week at a nice resort in Las Vegas as a wedding gift for my daughter. It cost me $250.

    Without an RCI membership, you could rent a week at the same resort for about $500.
    The maintenance is due every year and you cannot escape the payment of it.

    I am resigned to paying the maintenance every year for the rest of my life and in my will bequething the damned thing back to the resort.
     
  19. geminicricket

    geminicricket NRA Life member

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    This is exactly why I did buy my timeshare. I needed to vacation and I wouldn't take one. The way my life has developed, I still need to vacation but the RCI system doesn't meet my needs. Whenever I regain the right to use my week in Orlando, I will take my vacation. My young kid can go with me. My wife can go with me. It's a week vacation to justify the cost of the annual maintenance.
     
  20. JohnBT

    JohnBT NRA Benefactor

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    Maintenance fees? You're right about that foolishness.

    A buddy's parents bought 8 weeks at a place on the Outer Banks decades ago, but they bought it before it was built and only paid about $1500 per week. About 20 or 25 years ago they gave each of three sons 2 weeks and kept two. The fishing has been pretty good ever since. The outdoor hot tubs are nice. The Thai restaurant up the road a half a mile is good. And the waitress at the pizza place across the street is a Czech beauty.

    The maintenance fee for the 3-bedroom unit wtih ocean view during Holloween week is now $850. THAT'S CRAZY.

    He was willing to take a couple hundred less, but after all those years of going for free I went ahead and paid him and went fishing. He took the wife and went hiking in California.