Time-Share

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Gohabsgo_IHB

Gohabsgo_IHB

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This might not belong here, but wasn't sure where it would belong anyway...



I would like to hear your thoughts on time-shares. I am looking for honest opinions from people owning a time-share or people who don't like the idea. I don't think that listening to the sale agents is helping me develop an objective opinion!



Also, are the prices of time-shares somewhat related to the housing market? Will the housing market affect the price of time-shares? I haven't been looking for long enough to have that perspective.



Thanks a lot!!!
 
[quote author="Roo" date=1213346913]This might not belong here, but wasn't sure where it would belong anyway...



I would like to hear your thoughts on time-shares. I am looking for honest opinions from people owning a time-share or people who don't like the idea. I don't think that listening to the sale agents is helping me develop an objective opinion!



Also, are the prices of time-shares somewhat related to the housing market? Will the housing market affect the price of time-shares? I haven't been looking for long enough to have that perspective.



Thanks a lot!!!</blockquote>


Time share presentations are an excellent lesson in salesmanship. I highly recommend that anyone involved in sales attend one if you've got the time. I would never buy any "investment" that was only offered for a one-day special, but that's just me. XLNT parting gifts though!

Be warned: 1 in 6 that attends, buys.



Some favorite reminiscing:



1. The soft-touch, warm fuzzy initial sales approach.

2. Good cop/Bad cop. (apologies Trooper)

3. "Hi, I'm Bob from Finance. Let's run through some numbers."

4. "You will actually OWN your vacations."

5. "This is a one-day offer that is only good on your first visit, today."
 
Previous to her earlier career, my wife worked sales. She loves to go on timeshare tours given the chance. Strictly so she can tell the guy "no". She's a big meanie, but I love her anyway.
 
My dad buys one week timeshares on ebay for cheap; cheaper than it would cost if he paid for accomodations for the week. He uses the timeshare once, and then gives the timeshare back to the management company. He prefers condos to hotel rooms and it is less expensive.
 
I actually have one and use it occassionally. It's through a resort chain so I can "cash-out" my week and stay at one of their hotels/resorts anywhere I choose to. However, the maintenance fees on many of these properties outweigh the initial investment + opportunity cost versus just renting a place when you need to. If I had to do it over, I probably wouldn't buy one.
 
For some people I know that own them, they work, for others, they don't. Essentially what you are doing is pre-paying for your vacations. If you're the type that does take a vacation every year (or wants to), and doesn't mind staying in the same hotel/resort for a week, you might like it.



Beware that you will have to pay upkeep fees every year - hundreds of dollars. And, don't expect to be able to re-sell it for anywhere close to what you paid. I know someone who is stuck with a couple weeks.



I also like going to the presentation for the free stuff. $100 bucks in Disney World gift cards when we were down in Florida :)
 
if you do buy one, stick with a major resort chain like starwood, marriott, or disney for those who are disney vacationers. they also offer far more flexibility in their programs. like caliguy said, these programs are basically prepaying for vacation in today's dollars. on the other hand, the traditional time share programs offered by smaller developers might be cheaper but you'll get stuck with a less desirable property. the salesmen will tell about how you can swap your timeshare for thousands of other properties through exchanges such as RCI. in practice the likelihood you'll be able to swap your week at lake walamababa for a week at the st regis in bora bora is slim to none, plus the exchanges fees negate any cost savings the timeshare has vs just booking a hotel. with the large resort chains you are pretty much free to use your points for equal value at any of their resorts worldwide.
 
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