Lisa K

I was just browsing a website for "timeshares". I know this is a very general request, but I am looking for anyone with advice, recommendations regarding timeshares. Are they worth it? What are some tips? Should you buy your share for a popular place? Does that make it easier to make an exchange? Ditto for type of accomodations...is it easier to "exchange" a two-bedroom unit vs. hotel room style or studio? Thanks!

Cal

I have been a timeshare owner for many years. In fact we just returned last night from a timeshare trip to Las Vegas. This is really a tough question in that it depends on what you are looking for. I do strongly suggest that you check out the "Timeshare Users Group" 'TUG' site at www.tug2.net.

First of all, never consider a timeshare to be a financial investment because it is not. However it can provide you with a means to take much better quality vacations. In other words timeshare is like an investment in yourself. With all of the fees etc., it may not make sense economically, but you certainly will have more enjoyable vacations.

First, always buy a resale. The resale price is typically 50-70% cheaper than buying from the developer and you get exactly the same thing. This is not true at certain resorts such as Marriots but it is a good general rule. I would never but a Marriott or other high priced places. I can alsways exchange into them by knowing how to work the system.

Next, your choice of place depends entirely on how you intend to use it. Are you going to use it yourself or always trade it? I suggest that you buy at a resort and location where you want to visit. I own at 2 timeshare resorts that are in Coastal California where I live. We gain many advantages other than just our 'use week'.

If you intend to only use it for exchanging than that is a different story. Exchanging is very simple. It is all based on supply and demand. Each timeshare week has a certain trading power based on it's location, time of year, and to a much lesser extent, quality of resort. Also a 2BR will trade much easier than a 1 1BR and I do NOT recommend a studio at all for trading purposes.

Coastal California and Hawaii are the 2 best areas of the US to own for trading power. There are other individual locations that may also trade pretty well. Orlando is probably the worst area to buy for trading power. It is grossly overbuilt so there is almost always an excess of supply except for certain times of the year. We exchange frequently into the best resort in Las Vegas but I would never buy there either.

I hope that I have given you a start. Just remember that the purchase price is only part of it. Annual maintenance fees plus property taxes could easily be $600.00+ /yr. If you belong to one of the major exchange companies than you will pay an annual membership fee plus an exchange fee. Your total annual costs could easily be $700.00+ /yr which works out to $100.00+ /nt for your accomodations, This does not include the purchase price. On the other hand $100.00 /nt. is dirt cheap for a condo rental in downtown San Francisco. In fact $100.00 /nt is pretty cheap for condo type accomodations alwmost anywhere. Most of the resorts have excellent amenities.

JoAnn

Lisa, Cal has given you excellent information - we've owned since '83-pre-TUG membership, but I have learned so much in the past couple of years from the other members about making exchanges, what the resort is really like, where to go eat in an area, what to do there, and have even met some other t/s owners while on vacation.

Go check out their website, ask questions under the "buying/selling" or "newbie" sections and there will be timeshare owners to help you. The whole site is set up for and by owners to help people like you or to help other t/s owners get the best possible use out of what they own. Developers and realtors do not run the BBS!

Some people don't see the value of a t/s, but Cal & I do! We have taken vacations in areas we never would have gone to. We would never go to New Orleans, Newport RI, Maine, or elsewhere for a week and pay even $100 a night (and it would be much more)PLUS eating out 2 or 3 meals a day. Now we check into the condo, have room to spread out, and a place to cook meals! Since we're retired, we like the quieter places where we can hike, fish, take it easy. But we have been to Vegas, Ft. Lauderdale, Orlando, "busy" places. The variety is there.

Some say it's not worth the money--but if you buy resale, then you really save

If you have other questions, I would be very willing to help, as I'm sure Cal would be too! Good luck in your search.

Argento

Don't mean to sound offensive, but I just don't get the whole TS thing. For all the $$ you tie up, the hassle of trading and not always getting exactly what you want, the restrictions, and the fact that you end up in condos where there are few or no services to make your vacation more relaxing, why not just spend the $$ on an a la carte vacation?
When you total all the $$ and hassle factors up, are the savings really that significant?

Cal

Argento:

Timesharing is not for everybody. However your comments about little or no services is absolutely untrue. Just about all of the timeshare resorts have more amenities, services, and activities than any hotel does. My reference to condos was referring to the unit and not the resort. There are many truly luxurious timeshare resorts.

I never have a hassle with trading. We always get what we want. You just have to learn what and where to buy and how to use the system. In other words, one should do a lot of research before purchasing a timeshare.

You can buy a pretty decent timeshare that will trade well for less than $5,000.00 which is hardly a major investment. If you are patient and look around you can often find a good one for less than $2,500.00.

PTG

As a representative of an exchange company, it is great news to hear that owners are educated about their purchases and believe in the product. I agree, timeshares are not for everyone. One of the most frustrating things I see is when someone is limited to a certain time to travel (ie teachers) but buys a week that is during off peak time (ie November). They get frustrated when they can't get what they want.

Lisa, in addition to thinking about where you buy, you should think about which week you buy. One idea is to buy a float week which means you can occupy your home week any week you want within the season you purchased. One insider's tip if you buy a float week... If you need to get a week assigned because you want to exchange it, don't tell your resort. Because, if you tell them,they may give you a week that is not in demand. Instead, tell them you want a specific week (ie Xmas week), hang up and call your exchange company.

I also agree about buying via resale brokers instead of directly from the developer. With one exception, you may consider buying from a developer who offers a point based program. This allows you the flexibility of swapping your points for other things sush as air and hotel. One developer who does that is Marriott.

One more thing....Consider buying a unit that locks off. For example, you can buy a 2 bedroom condo and decide one year that you want to go to your home resort using one side and lock it off so that you can give the other side to your exchange company. Good luck, take your time, and shop around.

John

Timeshares are worth it for people who find value in staying in a condo. Like the above poster said, you end up paying about $100/night. Can you find a place for that price where you want to travel? It depends on where you are going and when. Sometimes you will be able to find a hotel/B&B or even a condo for less than $100/nt. Sometimes you won't. If you like to stay in condos on your vacations, you will probably have to pay more than $100 on average. But what you save by buying a timeshare you lose in terms of flexibility. If you want to trade, you need to plan well in advance.
One other note, don't forget to factor in the time value of money of your purchase. A $4000 timeshare will cost you $200/year in foregone interest (5% CD, assuming you don't have to finance the purchase). That's an additional $30/night.

PTG

Dear John

I disagree with your statement that says you'll be giving up flexibility if you purchase timeshare. Quite the contrary! By exchanging your week, you can be in Orlando one year and Cancun the next. Yes, you do have to plan your vacations in advance, but it works when you ARE flexible. By giving the exchange company a few resort choices and a time from anywhere from a few weeks to a few months, you are more likely to get matched. Also, could you please clarify your point on losing potential interest by spending the money on timeshare? Wouldn't it be safe to say that the same thing applies if you spend money on any item instead of investing it? A previous poster already said you won't make any money on time share. Also, please tell me where I can buy a CD that earnd 5%. I'd be very interested.

John

PTG-
Timeshares do cost you flexibility because you must go through your exchange program. You must stay at the places associated with your exchange program. Then there has to be an exchange available and you need to have to plan in advance. As you said, it works best when you are flexible. But if I want to go to a specific destination, I may not be able to through a timeshare (if there is no exchange available). Or what if this year I want to do something else, like a cruise or a family summer camp. I'm already committed to my timeshare and have to sell this year's week off, hopefully for close to my annual fees. If I don't own a timeshare, I can go on vacation anywhere I want, when I want and I am not locked into particular properties or even particular types of vacations.
As for the cost of money, I was just saying that the $700/week that was quoted in an earlier post doesn't take into account the cost of the initial outlay. The $4000 could be generating interest instead of paying for future vacations, vacations that can be paid for in the future (without a timeshare) as opposed to up front. There is a time value of that money, and at 5% it is $200 / year, making the total $900/week. And if you are looking for a 5% CD, try telebank.com

VVV

Several of the 'internet' banks offer CD's at more than 5%.

Cal

As I posted earlier, buying a timeshare cannot be justified on an investment basis. I think that is a major mistake that timeshare salespeople make when trying to sell them. However buying a Cadillac or other luxury car cannot be justified either but they can sure enhance your driving experience. Timesharing can also enhance your vacation experience immensely.

Timeshares offer the opportunity to visit places that you would not ordinarily be able to. We have exchanged into resorts of our choice with no hassles at all. However you must learn how the system works and be able use it properly. This requires some research beforehand.

Somebody maentioned 'floating time'. Both of our resorts are 'floating time' and I have reserved the July 4th weeks at both of them for next year. This gives me the ultimate in trading power allowing us to pretty well go where we want, when we want.

I have absolutely NO connection with the timeshare industry in any way. I am just a happy timeshare owner that knows how to use the system to its utmost.

Julie

I have to put my vote in favor of timeshare ownership also. We bought our t/s from the developer over 10 years ago and truly had no idea what we were doing. We ended up taking a compimentary 3day weekend to a resort in the mountains of North Carolina in exchange for listening to the spiel.

We fell in love with the place and purchased a deeded fixed week on the spot. Although we didn't understand everything, we bought a red week--unfortunately the week is during the school year and while at the time it wasn't an issue, we now have 2 kids and now must exchange. We also bought at a Gold Crown resort.

Over the years we have not only exchanged into terrific places but we have usually exchanged a 1 bedroom for a 2 bedroom. We even snagged a 3br for this Spring Break so my parents can join us. We have given a week away as a wedding gift and frequently take other family members with us because we have the space.

Although I could go on and on about how great it is for our family. I think my favorite reason is because it "forces" us to take a vacation. Sad but true that it's easy to let life get in the way of living. We know that we will take a vacation every year without fail.

Julie

Erni Hirsch

Are they worth it? Yes!

To me, my purchase of timeshares represented a commitment to vacation with family, friends or alone on a very regular basis. Could I have done so otherwise, probably, but I know that neither would I have gone as often nor would I have traveled to as many different places.

Having the room to invite other to join
us, has been a real plus. The size and style of accomodations far exceed in comfort and practicality, those of hotel or motel rooms.

As I get older memories of vacations that were shared with now grown children and friends and family, some of whom are now deceased, rank among my fondest memories.

Knowing that you have a week, or in our case 5 weeks, to trade and a book full of possibilities, makes planning half the fun.

Other contributers have advised you regarding purchase and exchange procedures which maximize the potential use of a timeshare unit. I agree with their advice.

I have owned timeshares for many years, and I can honestly tell that to me they have been more than worth it.

Al

This discussion has opened my eyes to one aspect of TS ownership that never occurred to me: the aspect of a 'forced' vacation. This surely is a sales point that should be most attractive to those who are self-employed or who are retired, both groups being able to control their free time better than those who work for others. In my own case, the prospect of spending a vacation at a resort has no appeal. However, it sure beats the old-fashioned "family cabin up at the lake" -- with all of its hidden costs, maintenance work, security worries, and total lack of flexibility. For a workaholic society, where the most productive members get the least free time, the TS surely must have a great deal going for it.

dan woodlief

I have been to two timeshare presentations, and I see them as a good thing in general. However, as others have said, you seem to lose in flexibility. I like to move around a lot when I travel. Even when I went to the NC mountains, I stayed in two different hotels to put me nearer to what I wanted to see on different parts of the trip (only about 30 miles apart). If I used timeshares overseas (the majority of my travel), this would be even more limiting (a week in Paris is great, but I don't need a whole week in Heidleberg). As would the fact that it would be harder to take advantage of airfare specials. Plus, you can save a lot of money by not using timeshares. We generally use hotels overseas ranging from $20 to $100 a night, mostly $60-70. And I have a feeling these little hotels put you closer to the main sites and have more ambience.

It all depends on how you like to travel.

Top

Here's a discussion of time sharing. (Someone posted recently who is thinking of attending a time share presentation, although I can't recall who.) Interesting info, although a somewhat rosy picture of timesharing, IMHO.

Cal

Some may prefer a $60.00 hotel room which sure won't amount to very much in most parts of the world. I would much rather stay is a 2BR unit in a luxury resort or a 13th Century castle in Austria. These are available as exchanges and now one can split their weeks so You can spend just 3 or 4 days in one and 3 or 4 in another. By the way, RCI/II is not the only way nor the best way to maximize your timesharing experiences.

Please

Could someone please explain how timesharing could possibly make sense for the average family with the average budget and the average time-pressed schedule? From reading these posts, timesharing involves buying a timeshare someplace and using it one week a year until you get bored going to the same old place over and over and over and over. Then, you must master a complex system to exchange your unit. You must book 1-2 years in advance for a decent week at a decent place, making it tougher to get a cheap air ticket. You are always at risk that the developer/manager will run the unit poorly or will go bankrupt. You are never, ever in a prime central location if you are in a highly desireable location. You must pay for the unit up front (except for the endless stream of fees), financing it if you don't have enough cash. There is no chance at all that it will appreciate. If you want out, tough luck because the resale market is so poor. Everyone says timesharing allows them to take vacations they would not otherwise take, but I don't understand that because it isn't hard to pick up and go the places where a lot of timeshares are located. The people I know who have timeshares regret their decision. So what's going on?

Cal

Please:

Your posting above reflects a lack of knowledge on your part about tinesharing. The only part that is correct is the lack of resale value. That is why it is wise the purchase resales.

Yes, there are many disappointed buyers. But that is because they didn't use common snese when purchasing their timeshare. It is true that t/s sales people are much like used car sales people. However like, any other large purchase, it is the resposibility of the buyer to be informed and think about what they are doing.

The system is not complex to use. We have traveled all over and all that was required was 2 toll free telephone calls per each week, We own more than one t/s week. We never make our plans more than 4-5 months in advance and have always gotten what we want.

There will always be detractors and that is their right. Timesharing is not for everybody. However is can certainly enhance your vactions if you learn how to make it work for you.

zoe

I will repeat the above statement:
TIMESHARING IS NOT FOR EVERYONE.

My spouse and I are in our mid 50's and with our children raised we are back to enjoying 'backpack' travel through Europe and Asia. Timesharing is not part of this travel experience.

However, one or two weeks a year we enjoy vacationing somewhere we can just bake in the sun, spend time with our families and just relax and be pampered in a quality resort. This is when our timeshares are used.

I'm only sorry I didn't purchase a good quality resale back when our children were young.

So, decide what vacation experience you are looking for, if it includes a time share, join TUG and spend a lot of time researching before you buy.