timeshare

  • Posted by a hidden member.
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    Sep 29, 2008 5:48 PM GMT
    I would like to buy one, but I would like to hear from other owners regarding their timeshare experiences. pros/cons... anything that can help. The timeshare I am thinking of buying would be in Aruba.

    So if you are a timeshare owner... please share.

    thank you
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    Sep 29, 2008 11:21 PM GMT
    I think if you've got the money to buy a timeshare, you'd be happier spending that money going to different places with each vacation, if you can tolerate hotel staying. Unless you've already been everywhere and decided that Aruba is the only place you want to vacation in again. Personally, I'm not into having such an intimate connection with strangers as sharing a house with them, even if they're not there when I'm there. I imagine it means mattresses and stuff are shared, serially, like in hotels. Kinda yucky if you ask me. If you sleep on a hotel mattress, you sleep on everybody who's every slept on that mattress.
  • drakutis

    Posts: 586

    Sep 29, 2008 11:25 PM GMT
    McGay saidI think if you've got the money to buy a timeshare, you'd be happier spending that money going to different places with each vacation, if you can tolerate hotel staying. Unless you've already been everywhere and decided that Aruba is the only place you want to vacation in again. Personally, I'm not into having such an intimate connection with strangers as sharing a house with them, even if they're not there when I'm there. I imagine it means mattresses and stuff are shared, serially, like in hotels. Kinda yucky if you ask me. If you sleep on a hotel mattress, you sleep on everybody who's every slept on that mattress.


    That's why I never get under the sheets!!! I sleep between the top sheet and the bed spread.
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    Sep 29, 2008 11:28 PM GMT
    All of my friends that own timeshares hate them!

    After paying for "ownership" they are still stuck with "maintenance" fees every year, about $800. and they cannot just pick any place they want to stay. Personally I would rather take all that money and stay at a nice hotel, whenever and where ever I want.

    I went to Florida with them to a time share this June and it sucked. I had to rent a car because the place was too far from Disney, increasing the costs. Timeshares make the people that share them money. the only good thing is if you have a family, ie kids. Cause you get a place that is more like an apartment in some locales otherwise it's a waste of money, and time attempting to plan it.

    Good luck
  • drakutis

    Posts: 586

    Sep 29, 2008 11:31 PM GMT
    When I was in Vegas recently, I was invited to a timeshare program at Planet Hollywood. I declined after I saw the program because it wouldn't work for me time wise with the planning aspect.
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    Sep 29, 2008 11:35 PM GMT
    My farther got sucked into a high pressure timeshare sales when we were in Florida.

    They didn't buy one but the resulting fight my parents had between each other for going to that thing ruined the holiday.

    I still remember them ringing the bell every 10 mins announcing that another person had made the best decision of their lives and become a proud owner of one
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    Sep 29, 2008 11:35 PM GMT
    Well, I own a timeshare and I love it. I own one with Worldmark (www.worldmarktheclub.com). They are owned by Windham hotel chain. They have 60 some resorts that are actually owned by the members. There are a lot in prime west coast real estate so trading through companies such as RCI should be easy. I think the cost for the trade is less that $150 and the list to choose from is global and long. The places are always in tip top shape, very clean, very pleasant and good locations.

    As for the Howard McGay Hughes syndrome, I don't find it an issue. The sheets are changed between guests, the place is very clean, dishes done, etc. Check out the website yo_mamali.
  • Koaa2

    Posts: 1556

    Sep 29, 2008 11:59 PM GMT
    I think most financial advisors will tell you it is one of the worst things to put your money in. There are many arguments for and against it. You have to wonder though, why so many companies are now doing it. The answer is easy because they make a bundle selling them, and the buyer usually does not.
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    Sep 30, 2008 3:37 PM GMT
    thanks everybody... eb925guy, I will most certainly look into that website.

    My major concerns are the following;
    1) access to resorts around the world. I am not expecting 5 star accomodations, but I want a resort that is relatively clean and yes, near all the touristy things. I would hate to have to rent a car just to get around.
    2) the ability to book to a different resort. Yes Aruba is beautiful and while I do plan on returning, I do NOT plan on vacationing there forever. I friend of mine has a timeshare in Orlando, FL and she told me she's had a lot of troubling booking to different resorts. I was told that since Aruba is a popular (if not the most popular island resort) destination, I should have not trouble swapping.

    As for cost, I think timeshares are a good deal and here's why.
    1) The timeshare I'm looking into is of a vacation-ownership type. This would mean
    a) the timeshare is mine forever (and I can will it to whoever after I die)...
    b) the cost of the timeshare is deductible in the same way a mortgage is tax deductible. I can claim the cost of visiting my timeshare as a tax deduction as well (i.e., airfare, accomdations and misc expenses)... but of course, that would mean I would have to continue vacationing in Aruba to get this benefit and
    c) like your primary residence, I can sell it at market value (so hopefully we can turn a profit should I decide to sell).
    2) the yearly fee of $580 is cheap compared to what I would have paid for 7 nights (of course, I'm only looking at Aruba as an example).

    I have never considered asking a financial advisor... good idea to solicit one for their opinion.