I Would Never Buy a Timeshare. Am I Wrong?
Filed in archive Travel on May 13, 2008
© Topato
When I hear the word "timeshare," I hear "sucker." Everything I read about timeshares is negative, from the fine print that trips you up in your contracts to the reduced flexibility in travel dates to the impossibility of ever unloading your timeshare at a decent price if you decide it's not for you.
I know a lot of people with timeshares. And I smile along while they tell me about the timeshares and the good points about them - the "vacation club" that lets you go to many different destinations instead of the traditional idea of a single-location, the... well, I can't really remember any other upsides. Maybe it's cheaper to have a timeshare than to plan your own vacation each year and pay full price? I really don't know. I've never been able to understand the upside.
These people are seemingly intelligent, so I assume they see a benefit. But I don't want to be rude, so I never delve into all my skepticisms about timeshares; otherwise it would seem that I'm implying they made a bad decision.
So I throw this question out to you. What are the upsides of a timeshare? Do you own a timeshare, or have you ever owned one? If timeshares are so great, why do they give you such a hard sell? Shouldn't the wonders of the timeshare be so obvious that you don't need to be sold so hard?
On the other side of the coin, if you have or have had a timeshare and regret it, I'd be interested to hear why. What made you think it was good to begin with, and what changed once you were actually an owner?
© Topato
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Response from:
Glen
(05/13/08 6:01pm)
Response from:
Doug0
(05/13/08 6:31pm)
One key is not to buy the TS from those salespeople.
I own one from the resale market (for $500), which my family uses once a week in south Florida in March for $650 in taxes and maintenance fees. Can't beat that.
But $10,000 for the same property just finances a bunch of other people's amusement park tix.
I own one from the resale market (for $500), which my family uses once a week in south Florida in March for $650 in taxes and maintenance fees. Can't beat that.
But $10,000 for the same property just finances a bunch of other people's amusement park tix.
Response from:
JT
(05/13/08 9:56pm)
Those of us who own a timeshare just smile at people who don't understand. First thing to look at is that there are three types of investments that come into play here. Two are huge one is non-existent. This has to be seen as a car purchase rather than a real estate purchase. When you buy a car you don't think about the awesome resale value your going to get out of it. Can you sell a timeshare? Yes. For what you paid for it, of cource not! Same thing as you should expect with the car purchase. Now some people buy Kia's (hotel) and it gets you to work just fine. And some buy a sports car or luxury car, which also gets you to work with a totally different experience though. The Kia is the smarter purchase financialy, but what car would you rather drive? The investment that matters is the savings this program will provide. It will force you to go on vacations (which is a problem our country needs to have) and you will do it in a quality most can not afford. Most hotels in a vacation destination run 100-200 per night, a comparable 1-2 BR condo runs much more than that. This type of investment will save you ton of money over the long run if you were to stay in comparable accomodations. The third and most important type of investment is the one in your self and your family. It is a know fact that timeshare owners travel much more often and for longer periods of time than non owners. This will force you to have many more memories with the ones you love. This may not have a monetary value to it but it will be the most valuable investment you could possibly make. Like I said we smile at the ones who don't own and hope that they some day figure it out.
Response from:
Sara
(05/14/08 12:33pm)
If you're interested in learning facts about the timeshare industry including why people purchase, demographics of people who buy timeshares, owner satisfaction rate, and just about anything else you'd like to know, visit www.arda.org. The American Resort Development Association is the nonprofit organization for the timeshare and vacation ownership industry, and they have a wealth of information available for consumers and those in the industry.
Response from:
Barry
(05/14/08 2:23pm)
JT gives a good glimpse into the bright side of timesharing, and makes a really good point: "It is a known fact that timeshare owners travel much more often and for longer periods of time than non owners." I don't think this is actually the result of the timeshare, though, I think it's the other way around -- the more time you have to travel, the more you'll get out of owning a vacation property. It's sort of a leisure class item, if that makes sense. That having been said, for those of us who work regularly without flexible hours timeshares are not at all a wise purchase. What's more, I think that with the number of scams out there in the timeshare world it is difficult to figure out when you're getting a deal and when you're just getting hosed. I won't bore you with the details of my little timeshare misadventure but suffice it to say that several thousand dollars and one Timeshare Relief "title transfer" later, I'm a whole lot wiser. I regret not looking at the resale market before making the plunge, and really leveraging the expense against the difficulties of my schedule.
Response from:
Bryan
(05/15/08 5:15pm)
You really don't seem to know enough about this subject to make such assumptions. What you have written is nothing more than a compilation of cliché complaints and nothing here is new.
Perhaps you should investigate further, rather than relying on blind skepticism. The upside is cost, variety, availability, and in comparison to owning a vacation home, the benefit is maintenance.
Look it up, you may understand.
Perhaps you should investigate further, rather than relying on blind skepticism. The upside is cost, variety, availability, and in comparison to owning a vacation home, the benefit is maintenance.
Look it up, you may understand.
Response from:
TUG
(05/17/08 12:00am)
The biggest mistake people make that get them in the situations causing all the negative "opinionis" about timesharing is not doing their homework before purchasing! Getting sucked into high pressure sales tactics and signing a contract you really dont understand will very likely end up with you having a bad taste in your mouth down the road when you DO find out the ins and outs of the industry. No matter what "deal" you were offered during the sales presentation to sign "right then and there" will be available not only tomorrow...but next week...and next month after you go educate yourself on what you are truly getting into so that you can make an intelligent decision and actually get what you want for the price you want perhaps even saving tens of thousands oof dollars in the resale market which the VAST majority of timeshare owners dont even know exists! Yes you can buy timeshares used for pennies on the dollar that are no different from the NEW timeshares sold to you for tens of thousands of dollars or more. Educate yourself on sites like Timeshare Users Group (TUG) for free before you make any decisions! The TUGBBS online forums has nearly 30,000 registered timeshare owners who most if not all have been just as confused as you are now, but instead have learned from their mistakes and provide help and info to others in hopes they will avoid making the same ones! Forum membership is 100% free...owners helping owners! http://www.tugbbs.com
Response from:
joseph muffin
(08/17/09 3:52pm)
There are advantages and disadvantages in owning a timeshare. If you don't know what you're getting into, then, you're in trouble. Before owning one, you should investigate the pros and cons of it especially the responsibilities that lie ahead with this kind of investment.
Response from:
Timeshare Relief
(08/18/09 5:24pm)
Despite its bad reputation today, there are still some good reasons to own a timeshare. If you're a financially-able guy, then, why not own one. But if you think that you can save money by owning a timeshare than any other vacation alternative, think twice about it.
Response from:
tami
(02/05/10 12:43am)
Owning timeshare can be both a plus and a con. If you have time to travel it's great. I much rather stay in a condo with 1 to 3 bedrooms than a small hotel room with a fancy lobby anyday and pay $200 to $500 a night for something decent. Do the math. I travel 2 to 4 wks a year own 2 timeshares plus get bonus time, bonus weeks discounted getaways for $300 what a deal. I been to spain, england, france, bahamas, mexico and more. We were never cramp and my daughter always had her space. We have 20 years of memories and lots of pictures and best thing is I'm only 50 and have hopefully 20 30 more years to travel. Whose ahead of the game now me a timeshare owner for 20 years or you who dont have one. PS Happy travles to you
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The biggest reason we got it was something the salesman said, and I agree wholeheartedly with:
If you're already paying for it, it sorta forces you to take the vacation.
That means you spend more time with your family/friends/whoever, doing things, instead of sitting at home, watching TV.