Does Anybody here do the TimeShare thing?

[Rico]

Originally Posted by CC1

Maybe things have changed but years ago when I checked out timeshares by the time you added up the "maintenance" fees, "housekeeping" fees, etc the timeshare cost way more for a weeks stay that a nice hotel.

I am taking a trip to Hawaii at the end of January to cruise back from Honolulu to Los Angeles on a ship for five nights. We are going to stay four nights before the cruise in Honolulu. Hotels are very expensive there (at least the ones I want to stay at on the beach) so we are having to settle for less than what we want.

I did a ton of research on the internet and used tripadviser.com reviews and stumbled accross a place about two blocks from the beach that has a one bedroom suite with full kitchen for $117.00 per night (it is the offseason).

It is a "Celebrity Resorts International" property and when I went to their website it looks like it is part of a timeshare company.

I have a hard time believing that the folks who stay there through their timeshare pay less than the $117 per night I am paying.

By the way if anybody wants to contribute to the CC1 Beach & Ship ministry a mere additional $150.00 per night could get me into the beachfront hotel I really want to stay at!!!!

(Oh, the waves should be really big the end of Jan. first of Feb. while we are there so I have rented a convertible on Saturday to drive to the North Shore and hopefully see some cool surfing.)

Don't be such a tightwad! Spend the extra $33 a night to get what you want. You probly squeek when you walk, huh?

[StillStanding]

Originally Posted by CC1

Pianoman,.....er....remember the nice Asian man in CA that made you that great deal on a video camera?

I think his cousin is the timeshare salesman. Beware. Be very, very careful. Unless things have changed the myriad of "fees" they don't tell you about at first make timeshares a losing proposition. That is one reason there are so many ones for sale second hand. People realize they are not a good deal and are desperately trying to get just anything out of a bad investment.

Do some internet research at least before jumping in! I have a feeling you could invest that money and then just pay for hotel or condo rooms each year and come out way ahead.

My San Francisco experience is a lesson well learned!!

I can finally laugh about how stupid I was!

Searching the internet, I saw that some folks were "renting" one of their timeshare weeks to cover their yearly maintenance & taxes expenses. I guess I could do that, but I would have to be patient to get the location and week that I desired, or else be pretty flexible.

Even counting the extra fees and taxes one has to pay each year, it's still less than half the cost out-of-pocket per vacation week after the timeshare has been paid off. This can be handed down to your children.

[CC1]

Originally Posted by Rico

Don't be such a tightwad! Spend the extra $33 a night to get what you want. You probly squeek when you walk, huh?

You misunderstand. It is an EXTRA $150.00 per night!!!

Originally Posted by revrandy

What company do you go thru and why?

Buyer Beware! They are required to give a right of rescission for a reason. Most buyers are pressured and bullied into buying something they really didn't want to begin with but rarely can get away from the salesman without signing on the dotted line. They will start at a high figure and keep coming down until they they think they can hook you. They have so many different levels, stipulations for use, hidden cost, etc that you should educate yourself thoroughly before trying to purchase. If you don't want to vacation in the same area every year you need to purchase in a very popular area so that you can swap with other owners. Typically buying on the re-sale market can get you a much better deal unless you can hold out on the timeshare salesman until you get the price you are willing to pay. I've known people who have loved their timeshare so much they have bought several while others couldn't dump it fast enough. Personally I don't see the benefit in it when you can often purchase a full-ownership unit for what some of the timeshares cost and you have use of it 365 days a year! Timeshare salesmen in our town do not have a very good reputation.

[NLYP]

We go through NACO.
We have two.....one week in Nassau Bahamas and One Week at Lake Tansi in Crossville, TN

[Newman]

Originally Posted by CC1

Do some internet research at least before jumping in! I have a feeling you could invest that money and then just pay for hotel or condo rooms each year and come out way ahead.

I have LOVED having a timeshare with a family. It's meant having multiple bedrooms and bathrooms. It's meant that we have been able to take others with us from time to time or even letting someone else enjoy our abode for a bit.

It's meant knowing what to expect everytime we visit. And its been far more deluxe accomodations than the maintanance fees.

However, the Gatlinburg Chalet is not brand new anymore (after 13 years). Nevertheless, the memories of all the good times are there everytime I walk in the door. It's been a very fair trade off from my point of view.

[revrandy]

Thanks for all the info...I am reading carefully.... and treading lightly....

[CC1]

Originally Posted by revrandy

Thanks for all the info...I am reading carefully.... and treading lightly....

Good. It is clear that some like Newman and NYLP have had a good experience but I also know that many people have not.

Like so many things a lot probably depends on the integrity and credibility of the company and people you are dealing with.

Just be sure and add in all of the fees and any interest you will have to pay if you are buying it with borrowed money and the interest you will be losing if you buy it with cash (money you could have invested will be gone).

I think you also should check the internet to see what you could rent a condo for at the locations you are interested in. I have a feeling you could rent somebody elses timeshare for what you will be paying in fees and save your upfront investment.

When you do your research it would be cool if you share the numbers involved in the deal you do. Upfront cost, fees, benefits, etc.

I have not looked at timeshares in about 20 years so much may have changed.

[StillStanding]

Here is an example:

At Hilton Grand Vacation Club at Seaworld in Orlando, Florida

Cost for 2 bedroom one week timeshare - $12,000
Annual maintenance & Tax fee - $700

Cost to rent same 2 bedroom timeshare for a week (from internet)- $1,000

You are paying approx $300 extra for the vacation, but it would take you 40 years to break even on the initial $12,000 investment!

[Felicity]

I've never been able to get my head around this whole "timeshare" thing.