Anyone bought a resale timeshare?
Jun 21st, 2013, 10:14 PM
#2
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The timeshare market has pretty much collapsed, at least in California-Nevada.
You should be able to buy one for the price of annual maintenance fees.
The problem is that you're locked in to the same time every year, regardless of what you might want to do.
Rentals of said units also suck.
You should be able to buy one for the price of annual maintenance fees.
The problem is that you're locked in to the same time every year, regardless of what you might want to do.
Rentals of said units also suck.
Jun 22nd, 2013, 05:23 AM
#4
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Let's be honest. Timeshares are more of a travel club than anything else. You may officially "buy" your own place for a week a year, but the real income for the timeshare corporation comes from your paying a fee to switch to another location, pay the maintenance fee there, and then let someone else pay a fee to take over your original place and pay the maintenance fee there, even after you've already paid for the place too.
Jun 22nd, 2013, 10:59 AM
#5
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Not necessarily true Rastaguy, until March I owned a timeshare with Marriott and I could book any week I wanted since it was in Hawaii. Other places have seasons, so if you buy a low season week you can usually only visit during low season weeks.
Jun 22nd, 2013, 12:18 PM
#6
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We bought Worldmark points on the resale market for a fraction of their cost. It has been perfect for us, since we can book at just about any of their resorts. The restrictions on buying resale Worldmark points is that it doesn't include Worldmark South Pacific (Australia and New Zealand), doesn't qualify for TravelShare (so I have to buy a separate RCI membership if I want it). But so far that has not been any sort of hardship. We own 10,000 points.
Previously, we owned a deeded week in Ormond Beach, FL. We could either use our week or release it back into that company's mini network, and book a different week either in Ormond Beach or one of the other several resorts, or bank with RCI. We did not buy that resale - we didn't know better. It was a "red holiday" (high season) week and traded well, but we rarely wanted to go to the beach.
Have been to some sales presentations (Massanutten especially) where the salesmen will try to convince you that buying resale gives you less ranking in RCI. That's as much a load of hokum as the one where timeshare is an "investment."
Previously, we owned a deeded week in Ormond Beach, FL. We could either use our week or release it back into that company's mini network, and book a different week either in Ormond Beach or one of the other several resorts, or bank with RCI. We did not buy that resale - we didn't know better. It was a "red holiday" (high season) week and traded well, but we rarely wanted to go to the beach.
Have been to some sales presentations (Massanutten especially) where the salesmen will try to convince you that buying resale gives you less ranking in RCI. That's as much a load of hokum as the one where timeshare is an "investment."
Jun 22nd, 2013, 12:26 PM
#7
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I can't remember what year we started buying, but this past year we bought our third timeshare at the same resort in Key West. We've never traded for anything else, in fact the reason we've bought those is because it was getting increasingly difficult to rent the weeks we wanted.
We love the resort, love the location, and love the weeks we've bought - 2 back-to-back in the spring, and one in the fall. We rent one additional week next to the one we own in the fall. Is it a great financial deal? Probably not, but we love the units we own, and even the renovations (that we paid for) are turning out beautifully.
We also travel in the summer - recently we've been going to San Francisco and Monterey, or just Monterey. And possibly another short trip or two to a city. This arrangement works well for us.
We love the resort, love the location, and love the weeks we've bought - 2 back-to-back in the spring, and one in the fall. We rent one additional week next to the one we own in the fall. Is it a great financial deal? Probably not, but we love the units we own, and even the renovations (that we paid for) are turning out beautifully.
We also travel in the summer - recently we've been going to San Francisco and Monterey, or just Monterey. And possibly another short trip or two to a city. This arrangement works well for us.
Jun 22nd, 2013, 02:22 PM
#8
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In the new AARP magazine, there is an article on how to give away that timeshare that you can't seem to sell.
Seems like this is more like the rule, there are exceptions. My wife's parents have a timeshare that they have tried to unload for about 7-8 years in Incline Village, Nevada.
They've gotten too old to travel to it. Their son, an attorney, has tried everything to unload it, but to no avail. Your timeshare may be great now, but there will come a time.
Seems like this is more like the rule, there are exceptions. My wife's parents have a timeshare that they have tried to unload for about 7-8 years in Incline Village, Nevada.
They've gotten too old to travel to it. Their son, an attorney, has tried everything to unload it, but to no avail. Your timeshare may be great now, but there will come a time.
Jun 22nd, 2013, 02:45 PM
#9
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I'm interested in picking up a resale that someone is trying to give away. Am studying Tug2.net. I think if I were to find a deal on a Marriot or Wyndum that worked on points, I'd be better off. Any more advice?
Jun 23rd, 2013, 04:41 AM
#10
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You aren't stuck with your week necessarily. You can also exchange your week for another time and place thru time share exchanges like RCI.
I would only purchase one thru resale if you feel you have to have one. Remember they are not in any way a RE investment and you'll probably spend more than your get in return.
I would only purchase one thru resale if you feel you have to have one. Remember they are not in any way a RE investment and you'll probably spend more than your get in return.
Jun 24th, 2013, 11:04 AM
#11
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Rasta, if we lived by your philosophy, we'd be doomed. My husband is 71 and I'll soon be 70, but we have no intention of giving up travel. We have close friends - a couple in their late 80s - who go to Maine each August for a month.
Not sure how old you are, but if your premise were true, no older person would buy a new car for fear their sight would give out; no older person would dare put on a bathing suit for fear others would be dismayed; no one with dentures would try new crunchy food lest their false teeth be damaged. We older folks are much more optimistic than you are.
As for our timeshares, we have two adult children who both have children of their own, and they all love our Key West units. There will be no problem "getting rid" of our timeshares.
Not sure how old you are, but if your premise were true, no older person would buy a new car for fear their sight would give out; no older person would dare put on a bathing suit for fear others would be dismayed; no one with dentures would try new crunchy food lest their false teeth be damaged. We older folks are much more optimistic than you are.
As for our timeshares, we have two adult children who both have children of their own, and they all love our Key West units. There will be no problem "getting rid" of our timeshares.
Jun 24th, 2013, 12:23 PM
#12
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wordfreak, all depends on the Company. Some will exercise the right of first refusal if someone is giving you too good of a deal. There are two exceptionally good websites with very knowledgeable people that are great to help you...the first site is tug2.net and the other is timeshareforums.com
Jul 13th, 2013, 06:59 AM
#13
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I bought 406k Wyndham points on the resale market that were 100% deeded with only maintenance fees to pay each month. They were three separate contracts. Two for the Wyndham Royal Vista directly on the beach and one for Myrtle Beach SC. They were all affiliated with RCI for international exchanges.
My initial investment was less than $100 total for all three.
I would recommend buying a timeshare on the resale market. I pay approx. just under $100 a month for maintenance fees on 406k points which affords me the opportunity to take 3 really nice week long trips per or several long weekends. I didn't buy weeks because I didn't want to get locked into any one resort. I really enjoy being a timeshare owner.
My initial investment was less than $100 total for all three.
I would recommend buying a timeshare on the resale market. I pay approx. just under $100 a month for maintenance fees on 406k points which affords me the opportunity to take 3 really nice week long trips per or several long weekends. I didn't buy weeks because I didn't want to get locked into any one resort. I really enjoy being a timeshare owner.
Jul 13th, 2013, 07:10 AM
#14
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SusanCS, you should go back and read Rastaguy's post and then apologize. He has inlaws who are too old to travel. That has nothing to do with "all" older people not being able to or some bizarre "philosophy" of never buying a car because you're too old. Do you not believe that it's possible for one couple to be too old to travel? That's all he seems to be saying to me! I think it's kind of rude and presumptuous to rub in his face that you are still able to travel therefore his inlaws should too! His point was really about being able to sell the thing IF and WHEN you no longer want it -- a pretty legitimate point, I'd say.
Jul 19th, 2013, 05:16 AM
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NeoPatrick, I've reread Rastaguy's post three times and am always willing to apologize if I feel I've made a mistake. In this case I don't feel I did.
"In the new AARP magazine, there is an article on how to give away that timeshare that you can't seem to sell.
Seems like this is more like the rule, there are exceptions. My wife's parents have a timeshare that they have tried to unload for about 7-8 years in Incline Village, Nevada.
They've gotten too old to travel to it. Their son, an attorney, has tried everything to unload it, but to no avail. Your timeshare may be great now, but there will come a time."
To me, this reads as a warning to those considering a timeshare buy. "There will come a time" is a pretty specific reference that you'll more than likely have trouble unloading it when you're ready to sell.
All I've done is voice my opinion, which - in this case - runs counter to Rastaguy's. I never said I doubted that anyone might have trouble selling, I simply said there ARE cases (namely ours) in which selling wouldn't be a problem. I don't see my opinion being any more or less offensive than anyone else's. And rubbing it in his face that I'm still able to travel? Look at it this way. If someone says "a lot of people are unable to travel," and I say, but a lot of people are not" Is that offensive?
Every now and then on this board and others, I'll read a post that begins..."I'm taking my elderly parents on a trip..." and in the next sentence see that their "elderly parents" are in their 60s.
The whole point of my post - which apparently was misunderstood - is that you can't make assumptions about everyone's experiences based on one person's (neither mine nor Rastaguy's parents).
"In the new AARP magazine, there is an article on how to give away that timeshare that you can't seem to sell.
Seems like this is more like the rule, there are exceptions. My wife's parents have a timeshare that they have tried to unload for about 7-8 years in Incline Village, Nevada.
They've gotten too old to travel to it. Their son, an attorney, has tried everything to unload it, but to no avail. Your timeshare may be great now, but there will come a time."
To me, this reads as a warning to those considering a timeshare buy. "There will come a time" is a pretty specific reference that you'll more than likely have trouble unloading it when you're ready to sell.
All I've done is voice my opinion, which - in this case - runs counter to Rastaguy's. I never said I doubted that anyone might have trouble selling, I simply said there ARE cases (namely ours) in which selling wouldn't be a problem. I don't see my opinion being any more or less offensive than anyone else's. And rubbing it in his face that I'm still able to travel? Look at it this way. If someone says "a lot of people are unable to travel," and I say, but a lot of people are not" Is that offensive?
Every now and then on this board and others, I'll read a post that begins..."I'm taking my elderly parents on a trip..." and in the next sentence see that their "elderly parents" are in their 60s.
The whole point of my post - which apparently was misunderstood - is that you can't make assumptions about everyone's experiences based on one person's (neither mine nor Rastaguy's parents).
Jul 19th, 2013, 12:41 PM
#16
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Susan, you can talk all you won't to but my comment had nothing to do with all that stuff you're talking about. My apology comment only referred to how you seem to say it was nonsense that his I laws are too old to travel,as if you somehow feel they aren't. But I'm sure.you know them better than he does. My comment hd nothing to do with resale potential of condos, just like your comments about old people traveling had nothing to do with his particular situation. May you still be able to travel hen you're100, but that doesn't mean EVERYONE can. Sorry I just found that comment rude.
Jul 19th, 2013, 12:48 PM
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And in reference to your lst paragraph, it seems YOU are the one who misunderstood. He clearly was speaking of ONE situation, even calling it an exception to the rule. Yet YOU seem to be the one dismissing his example as if since you and others travel, his inlaws should too? You seem to be making the assumption based on one situation (yours), while he was merely speaking of one case.
Jul 19th, 2013, 02:38 PM
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Rastaguytoday and NeoPatrick - I'm terribly, terribly sorry if you were offended by my statements. Rastaguy, I never meant to disrespect you or your family. I don't take travel lightly, and realize others don't either.
Last week was the first time I'd needed the use of a wheelchair at airports. Hopefully, it'll be the last time, but I can't be sure. Do I take travel for granted? No, I do not. If I implied that, I'm sorry.
Rastaguy, I wish the best to you and your family, and am sorry if I offended you. Susan
Last week was the first time I'd needed the use of a wheelchair at airports. Hopefully, it'll be the last time, but I can't be sure. Do I take travel for granted? No, I do not. If I implied that, I'm sorry.
Rastaguy, I wish the best to you and your family, and am sorry if I offended you. Susan
Sep 4th, 2013, 07:51 AM
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We own a timeshare at The Reef in the Grand Caymans. We belong to Interval International. We hardly ever go to the Caymans, because we can deposit our weeks every year and go basically anywhere in the world. We have been very happy. We paid quite a bit for our timeshare and sadly they are very hard to resell.. but we are going to try to resell ours because we no longer want to do the big vacations every year, we are trying to buy a farm. So dreams change. So I have a 2 bedroom condo at the Reef for sale for a STEAL. If interested in details, let me know. 
We are seriously offering this for next to nothing compared to what we paid for it because we don't want it to just go back to the Reef, we'd like to get something. We have extra weeks to go along with it too. And you are buying from me, a real person who has had my kids there...not a company who doesn't know or is trying to screw you over...
We are seriously offering this for next to nothing compared to what we paid for it because we don't want it to just go back to the Reef, we'd like to get something. We have extra weeks to go along with it too. And you are buying from me, a real person who has had my kids there...not a company who doesn't know or is trying to screw you over...
