Anyone here own a timeshare?

[N8Magic]

I'm looking at purchasing one, as it seems like a good deal if you have found someplace where you enjoy going year after year.

However, I don't know anyone that owns one, so I thought i'd ask here as to some of the finer details on owning a timeshare. Other than maintenance fees, are there any other fees involved in owning one? Also, I hear RCI is a good company to be affiliated with... is this true?

Thanks.

 

[HappyPuppy]

The only thing I know about timeshares is don't buy one from the corp. Buy it second hand. You can save 50-70%.

 

[N8Magic]

Originally posted by: HappyPuppy
The only thing I know about timeshares is don't buy one from the corp. Buy it second hand. You can save 50-70%.

Thanks for the tip.

I was looking around on eBay and such, and they seem to be a really good deal... almost too good.

 

[N8Magic]

^^^^^^^^

 

[Sluggo]

You had better like going there, because you can NEVER sell the thing after you buy it.

Everyone person I have ever talked to, or heard talk about it says DO NOT BUY A TIMESHARE, unless they have a gun to your head, even then, think really hard about it.

 

[Pepsi90919]

"time" "share" ?

 

[FoBoT]

don't pay full price!!!

somebody will sell you theirs for $0.10 on the dollar of the "new" rate

 

[Aquaman]

there are companies that have multiple places around the world where you can buy into the company and spread your stay around the world at different locations.

Cheers,
Aquaman

 

[Pliablemoose]

Originally posted by: FoBoT
don't pay full price!!!

somebody will sell you theirs for $0.10 on the dollar of the "new" rate

Timeshare salespeople are worse than used car salesmen...

If you really have to buy one, buy a used one for pennies on the dollar.

Also, they don't mention maintenance costs unless you read the contract or ask them directly, they charge upkeep fees that go up every year...

Calculate what those monthly payments would be worth if you put the $ in a bank over the term they offer, then add your transportation charges to use your timeshare, the headaches of figuing out their convoluted use schedule/rules, etc...

I know a lot of folks that've bought them, and only one couple that actually uses theirs, good buddy of mine just sold his for pennies on the dollar...

 

[Gage]

I own 2 timeshares. I inherited them from my parents. The maintenance fees are outrageous and they go up every year. Not only that but if there is some sort of disaster, guess who gets to take care of the repair costs. Yep. You get percentage of the costs added to your normal maintenace fees.

On the bright side, since no one can get rid of these things, you pretty much get to see the same people every year. You become a family. A giant family of suckers. (We've been going to the same place for 18 years. LOL.)

Like everyone else has said, If you absolutely HAVE to do it, go through a discount agent. Be very wary of all Time share salespeople. These guys make car salesmen look like tibetan monks. Did you ever see that episode of South Park where all the families go skiing and the parents get kidnapped by the timeshare salesmen? It's like that, but not funny and you don't get a lobster.

 

[Gage]

Originally posted by: Aquaman
there are companies that have multiple places around the world where you can buy into the company and spread your stay around the world at different locations.

Cheers,
Aquaman

Yea, we have that "OPTION" too. LOLOLOLOL. For a "fee" you can go to ANY of the properties in the co-op. You also have to pay the difference in maintainance fees from your usual property. Some properties you have almost NO chance of getting, as the requests are taken on a first come first serve basis and no requests are taken until the end of the high red season which is in August. When you send in your request for your week every year, you send in your first choice, and 2 backup. I have never gotten a choice on my list EVER. And that includes the year that I hand delivered my request to the home office on the first day they accepted them. LOL.

It's all crap. Time share salesmen will tell you anything to get your money.

 

[Turkey22]

My parents have 2 weeks based out of Hawaii from RCI but we go to all kinds of places across the U.S. Been in some pretty damn awesome resorts. Our honeymoon in florida was from that as was our recent vacation in Illinois. I have no idea about the fees and costs and stuff like that but being able to travel like that is pretty awesome instead of staying in hotels.

Btw call them and ask what is available if you have that option. A lot of places get booked especially during the heavy vacation times, yet are free alot of the rest of the time.

 

[Michael]

Timeshares are ok if you do the following:

1) Buy them from the secondary market. 50% plus reduction in price

2) Buy one in an area you're likely to go to anyways. Fore example - Lake Tahoe is an easy drive for me and I tend to go once a year

3) Buy one that has high trading value if you want to vacation in other places around the country/world

Go here and read the "advice"

I do not own a timeshare but have seriously considered getting one in Tahoe. I can probably get a very nice one for $6K or so.

Michael

 

[UNCjigga]

Yes...on Holden Beach. Can't wait till June!! (1 week vacation!)

 

[AmigaMan]

My wife and I bought one while we were in Hawaii for our honeymoon. We were suckers, but we came back again the next year and stayed in a different place (we traded our week for an additional bonus week). I would recommend buying second hand since you'll save a ton. We bought one week every-other year for about $14K. It's a 2br/2ba and since it's Hawaii, it's value is high which means we can trade it to go anywhere in the world. We also went through Trading Places which is a company like RCI except smaller and based mostly in Hawaii and the west coast.

 

[chin311]

naw, but i've often went with my parents on the free weekend stays at resorts because they want you to buy in , nice way for a free getaway...

 

[Silverbullet28]

Check out Bluegreen. You can go to the same place every year or someplace different every year.

Bluegreen

 

[SCSIfreek]

I would never purchase a time share property. It for suckers with too much money on their hands.


--scsi

 

[Hammer]

i own 2. if you get a great place and you get a good deal on it its great. you can sell the week to people or let friends use it when you don't use it. And you can pass it on to your kids if you have any.

 

[UNCjigga]

Wow...LOTS of horror stories here! On second thought, what we have is not a timeshare. We own the beach house, but we have a property manager who rents it out when we're not using it. We get to choose what weeks we want to use it, AND we get a large share of the rental profits.

 

[Pepsi90919]

"time" "share" ?