Quad Shot Academy Posted September 30, 2011 Share Posted September 30, 2011 We are just starting to look into time share options. We want something where we can go almost anywhere in the US. Any recommendations? Anything to be aware of? Quote Link to comment Share on other sites More sharing options...
Chris in VA Posted October 1, 2011 Share Posted October 1, 2011 Any recommendations? Yeah, don't get one. :D My parents have several, one of which they can switch out for really good time ("red time" I think it's called) anywhere. They got it because my mom wanted my dad to be "forced" to go on vaca every year, and he wouldn't waste the money by not going. But they could have gone the same places, even nicer places, when they wanted and for a ton cheaper. Just not worth it, in my experience. Quote Link to comment Share on other sites More sharing options...
Ria Posted October 1, 2011 Share Posted October 1, 2011 Total waste of money. Like Chris said, people buy into them thinking they'll vacation and save. They don't. We've watched dh's parents lose tens of thousands of dollars. Avoid it. Quote Link to comment Share on other sites More sharing options...
DawnM Posted October 1, 2011 Share Posted October 1, 2011 (edited) Use a websites to rent points from owners who wish they didn't own. Will have to look it up but I think it is VRRO or something similar. Edited October 1, 2011 by DawnM Quote Link to comment Share on other sites More sharing options...
jennsmile Posted October 1, 2011 Share Posted October 1, 2011 Worst money thing we ever did! Run the other way! Take the money you would pay in fees and enjoy a vacation where ever you want. Seriously! Most times shares also have weekly or daily rates. Quote Link to comment Share on other sites More sharing options...
Missouri Okie Posted October 1, 2011 Share Posted October 1, 2011 My husband and I just sat through a TORTUROUS time share presentation. The annual maintenance fees alone are CRaZy expensive. Most packages (I'm not sure that's the term) don't include air fare or car rental. If you tack those costs on what you're already paying for a time share it's even more than exorbitant. They touted the tax savings, but I'm just not a believer in 'the more you spend, the more you save.' It's ridiculous. They also point out that you can lock in a price in today's dollars. But, if you crunch the numbers, it just isn't smart. Quote Link to comment Share on other sites More sharing options...
Urban Girl Posted October 1, 2011 Share Posted October 1, 2011 :iagree: ^^^ Yes, what they said; however, if you are not convinced yet, I have one for sale . . . :001_smile: Quote Link to comment Share on other sites More sharing options...
---- Posted October 1, 2011 Share Posted October 1, 2011 . Quote Link to comment Share on other sites More sharing options...
Urban Girl Posted October 1, 2011 Share Posted October 1, 2011 Me too. :D I'm still trying to understand exactly why we thought it was a good idea to buy a time share. The only thing we can do is pay it off, and then return it to Marriott to maintain our credit and be rid of the outrageous "yearly maintenance fees." This has been a painful and expensive lesson. :angry: Quote Link to comment Share on other sites More sharing options...
hsmom2011 Posted October 1, 2011 Share Posted October 1, 2011 n/m Quote Link to comment Share on other sites More sharing options...
littleWMN Posted October 1, 2011 Share Posted October 1, 2011 My inlaws have two. They go on lots of vacations but they are very limited in where they can go and when. We were going to go with them on vacation this summer, but they had to put in a request (like 6-8 months in advance) for a certain place. We still hadn't heard whether they'd "gotten" it or not about two months before our scheduled vacation time and DH had not been able to ask off of work due to this. We canceled. IMO, it's a royal PITB. And the yearly fees are outrageous. I really don't get it. Quote Link to comment Share on other sites More sharing options...
tadah Posted October 1, 2011 Share Posted October 1, 2011 Before you buy a timeshare, make sure you know how to sell it, because some day, either you are going to have to sell it or someone you know will have to sell it for you. (Personal experience here: I had to sell one on behalf of my parents.) Googling "how to sell a timeshare" provides a lot of useful information. Quote Link to comment Share on other sites More sharing options...
jennsmile Posted October 1, 2011 Share Posted October 1, 2011 I should mention we paid ours off then sold it to a company for 1/2 of what we paid...:tongue_smilie: NEVER AGAIN! Quote Link to comment Share on other sites More sharing options...
TexasRachel Posted October 1, 2011 Share Posted October 1, 2011 Me too. :D Add me to the list of people wishing for a time turner to get rid of our waste of a time share. We have a good company where we can go lots of places, but we hate figuring vacations around the timeshare instead of where we want to go. Plus it's such a huge $$ drain. it's a car payment. Just rent the time shares from us losers. Lol. It'll be cheaper. Quote Link to comment Share on other sites More sharing options...
Quad Shot Academy Posted October 1, 2011 Author Share Posted October 1, 2011 Wow! I am shocked at the responses! I have two friends who have them and love them! I will obviously be rethinking this. ;) Thanks! Quote Link to comment Share on other sites More sharing options...
Shelly in IL Posted October 1, 2011 Share Posted October 1, 2011 We bought it for $2,000 20 years ago. It is in a highly valuable time and location, so we enjoy the use of it or other places every year. My kids think it is their home away from home. We trade into at least 2 bedroom condos that are WAY nicer than what we have. If you can't buy like that, then don't buy! Quote Link to comment Share on other sites More sharing options...
chiguirre Posted October 1, 2011 Share Posted October 1, 2011 You can get good deals RENTING timeshares. We've rented in Ft. Lauderdale and Pompano, FL and had a great time. There are sites that list rentals and they even pop up on Ebay sometimes. Quote Link to comment Share on other sites More sharing options...
delaney Posted October 1, 2011 Share Posted October 1, 2011 Well I am in the minority. We own with Marriott and Disney. LOVE both of them. We have a week with Marriott at SurfWatch in Hilton Head. Easy to trade out as we own Gold(spring and early fall) and a 3 bedroom. You buy points (like Disney has always done) now with Marriott instead of weeks and it is even easier to trade out. We go to the beach every spring break and stay right on the ocean here http://www.marriottvacationclub.com/vacation-resorts/marriott-surf-watch/overview.shtml We have also traded out to go to Lake Tahoe. I would never invest in the companies like RCI. Marriott was the pioneer in timeshares and does it WELL. You get what you pay for in timeshares. As for Disney, we go to Hilton Head at least once per year and typically to Disney World once per year. If that is where you want to go regularly then buy with them. They do have a Hilton Head and Vero Beach resort, as well as a new one on Hawaii. What you save in food by eating in pays you back. If you are a planner then timeshares are good for you. Spur of the moment NO. Best investment we ever made for our family. Marriott you own for life and Disney for 40 years. Quote Link to comment Share on other sites More sharing options...
gingersmom Posted October 1, 2011 Share Posted October 1, 2011 Wow! I am shocked at the responses! I have two friends who have them and love them! I will obviously be rethinking this. ;) Thanks! How long have they had them for? Ask them in a few years, they may not be feeling the love. You can buy timeshares on Ebay for $1. I am on a yahoo group where someone has been begging for over a year for someone to buy her timeshare. Quote Link to comment Share on other sites More sharing options...
ChrissySC Posted October 1, 2011 Share Posted October 1, 2011 You can have mine if you hurry. :) LOL I stopped paying the dues this year. It does not go on your credit or effect your rating. They reclaim the "so-called property". Yet, you are just out your money. When we first bought into the time rentals, the dues were 180, and now they are twice that. They attached a ton of fees for some reason, and the final bill for this year was over 400. I said enough. They make you think that you have a great deal. Do you know why there are so many great deals on time share? Because they have been reclaimed from "owners" and resold time and time again. It is a big scam. Quote Link to comment Share on other sites More sharing options...
Carol in Cal. Posted October 1, 2011 Share Posted October 1, 2011 Everything costs extra. If you trade, it's extra. If you buy into a club, it's extra. We have a time share, and it has worked out really well. But it's not something I recommend. The reason ours has worked out well is that my DH does not plan anything, especially time off. So this has forced him to actually go, much like our season tickets to the theater. We bought it in a place that we enjoy just about any time of the year--summer is great, winter is great, fall is fine. And we only have an every other year ownership, so it doesn't tie us down too much. Also, we know what is there so we can plan appropriately. It has dishes, a little kitchen, its own beachfront, a pool, spa, tennis courts, playground, volleyball sandlot, etc. in addition to being a great base camp for incredible outdoor adventures. We save on expenses by bringing a lot of food along, and by having the kitchen that we can cook in. Some timeshares just have a minikitchen--microwave, coffee maker, ice bucket, and no dishes beyond plastic cups. Big difference! You can't really justify this objectively, but if it's reasonably cheap in a place that you actually want to go to, and if you probably wouldn't go otherwise, it might be a good deal for you. Having said that, do try the brokers or private parties for sources. Buying from the developer is an order of magnitude more expensive. Quote Link to comment Share on other sites More sharing options...
In the Rain Posted October 1, 2011 Share Posted October 1, 2011 Worst money thing we ever did! Run the other way! :iagree: We regretted ours, and never even got to use it. My inlaws have several, yet they never seem to be able to get something where they want, when they want. Quote Link to comment Share on other sites More sharing options...
delaney Posted October 1, 2011 Share Posted October 1, 2011 How long have they had them for? Ask them in a few years, they may not be feeling the love. You can buy timeshares on Ebay for $1. I am on a yahoo group where someone has been begging for over a year for someone to buy her timeshare. Well we have owned ours for 10 years and 6 years. Again, the cheap ones are crap. If you want quality it will cost $$. Our Marriott was $30k-worth every penny to know that we will have a 3 bedroom unit, granite counters, 3 bathrooms, huge kitchen, 3 pools, cabanas........ Buy a Marriott to trade to a Marriott. If you go into Interval International or RCI you will be sorry. After owning with Marriott and Disney I don't do hotel rooms well. Quote Link to comment Share on other sites More sharing options...
Tigger Posted October 1, 2011 Share Posted October 1, 2011 We have two timeshares and before buying did a lot of research. One is DVC that we use quite a lot, so it's been well worth the money we paid because it's paid for itself already and we purchased it as a business holding, not a personal one (we use it to bonus employees and when DH has conferences we use it to exchange if a property is available nearby the conference site). We purchased DVC a few years ago, with what has turned out to be an incredible bargain for Bay Lake Tower, through their first webcast. If we were to sell the points today, we would make money because the average resale point price for BLT is higher than we paid. We're not selling it though since we do use it. The other is a red week that's a decent trader, not great, not bad. We also use that for exchange and extra vacations (RCI); it's a personal holding. We made the decision to purchase it because a) it was on eBay for $1.46, b) the owner paid closing costs, c) the maintenance fees are $386 a year, d) it's a two-bedroom lock-off and e) it's a red week in a location that is second to Orlando for vacation, so it trades well enough. The owner obviously wanted out and I was happy to take it off his hands since I'd done enough research to already know the property was one that was going to be good enough for our needs and cheap enough not to become an annoying expense if we had years we didn't use it. Since we purchased it, our MF's have risen to $428, so it's still very reasonable IMO. If you are interested in owning a timeshare, do your homework - for one, you never want to buy directly through the developer (unless it's a remarkable deal for DVC which comes with specific perks you cannot get through a resale buy and you want those perks). One board you'll find a wealth of information is Timeshare Users Group (TUG). The members there are candid and realistic and will tell you the pros and cons, and give tips if you ask. There are also great article links to read to help you make a decision on way or the other. Quote Link to comment Share on other sites More sharing options...
Chris in VA Posted October 1, 2011 Share Posted October 1, 2011 Well we have owned ours for 10 years and 6 years. Again, the cheap ones are crap. If you want quality it will cost $$. Our Marriott was $30k-worth every penny to know that we will have a 3 bedroom unit, granite counters, 3 bathrooms, huge kitchen, 3 pools, cabanas........Buy a Marriott to trade to a Marriott. If you go into Interval International or RCI you will be sorry. After owning with Marriott and Disney I don't do hotel rooms well. Delaney, fwiw, my parents bought with RCI. They've done some nice vacations thru trading, but my point is that they could do it more cheaply. They definitely use their weeks every year--didn't use it every year in the past, but they do now. They go to FL for 2 months in the winter from NH, and it's a great blessing. (But they have to rent an apt for one of those months.) You don't have to answer, but I was wondering what your yearly fees are. Quote Link to comment Share on other sites More sharing options...
nono Posted October 1, 2011 Share Posted October 1, 2011 We like ours (DVC) but we paid for it outright. So, the only cost is the maintenance fees, which we knew going in, and how those are figured. I find that for the space, it's a great deal. Living in a condo with 1-3 br. is a world apart from a hotel room for me. Also, I find Disney's food to be not nearly as good as it once was, so I love being able to cook the majority of our meals at "home" v. the getting gouged at their restuarants. P.S. I also bought DVC years ago before they started price-gouging with that too! I don't think I'd buy in at today's prices... Quote Link to comment Share on other sites More sharing options...
PentecostalMom Posted October 1, 2011 Share Posted October 1, 2011 Total waste of money. Like Chris said, people buy into them thinking they'll vacation and save. They don't. We've watched dh's parents lose tens of thousands of dollars. Avoid it. :iagree: My dad owns four (I think, maybe five) an wishes he could get out. There are literally thousands of owners that will rent weeks all over the place without the commitment of a purchase. Quote Link to comment Share on other sites More sharing options...
4everHis Posted October 1, 2011 Share Posted October 1, 2011 Use a websites to rent points from owners who wish they didn't own. Will have to look it up but I think it is VRRO or something similar. This is what I was thinking. We have quite a few friends who have them and every.single.one wishes they didn't. Quote Link to comment Share on other sites More sharing options...
MamaCoop04 Posted October 1, 2011 Share Posted October 1, 2011 Wow. I'm in the minority here, but we actually use and enjoy our timeshare. Now granted, we are not high maintanence at all, so a little cabin on the lake is lovely for us, but we also have many other options as well. We have BlueGreen, but I think many of the locations they own are on the East Coast, many in Fl, some in NC, SC, PA, NY, NJ, TN, and a few other states. We can exchange thru RCI for more options and it uses a point system vs. a set week system, which we like. Once you pay off your points you puchase, you pay just the maintanence fees and dues yearly, but we feel it's worth it. I would probably, if we'd do it again, buy the very basic and least amount of points from BlueGreen itself, but buy any extra points used. It forces us to go on vacation, which we need, but probably wouldn't do, so I'm glad we have that push. At first we didn't use it, but now we do and enjoy it. We go to Va every year, we go horseback riding, mini golfing, swimming and they have a game room with kids activities and tournements and such. Check it out. If you happen to actually go to a presentation, use me as a reference so we can get credit :D Quote Link to comment Share on other sites More sharing options...
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