Timeshares are they worth it?

[Anonymous]

We have owned flexible timeshare: been to Arizona, Florida, NH, Mass, Maryland shore, Vegas, Va, Grand Caymen, and NYC. It has pros and cons. Like anything else.

[Anonymous]

Noooo! Impossible to get rid of.Not worth it, don't do it!

[Anonymous]

For us, if someone told us our timeshare was worthless, bankrupt, well, at this stage, we wouldn't care. We spend maybe $7,400, and have used it a ton. We have given points to friends and family. Remember, it IS real estate; that means it isn't that liquid.

[Anonymous]

My parents have offered my to trade on a week in theri timeshare in Cabo. To switch to one of the carribean resorts that I might actually enjoy in St Lucia, Grand Cayman, etc, you have to bank your week and hope for the best. You lose your spot in your home resort when you bank your week, which my parents have to physically wait in line to reserve a year in advance. If you try to swap via Red Week (third party site), the value of their property is low as their is such a glut of spots in Mexico (even though their property is
"Gold" level), so that isn't really a viable option.

My parents do love their spot in Cabo and they like that they now have friends that return each year. I think it depends on your lifestyle. If you are an active retiree, I think it could work well. If you only have 3 weeks off a year, it is limiting.
I think swapping to places other than Cancun or Branson has to be done years in advance. At least that appears to be the case with RCI.

If you are going to move forward with buying, definitely buy one from someone trying to get rid of theirs on Redweek, etc. You can get deals that are cheap and/or very flexible (at the end of the contract with only 5 years left).

If I were going to do it I would go with a higher end hotel chain program like Starwood, Westin, Hyatt. Even Four Seasons and Ritz Carlton offer similar programs.

I think you can get a great deal if you educate yourself.

[Anonymous]

Timeshares can work out for some people, but it doesn't sound like OP has done remotely near enough research on what/where/how to know they are in that category where timeshares make sense.

[Anonymous]

If there's a place you go regularly, then sure, why not? I love to get to Cali once per year to see a friend of mine. Hotel is always expensive. A nice timeshare where we could hang out and enjoy the amenities, etc? I'd do it.

[Anonymous]

Don't buy one from the resort. Most timeshare places have people so desperate to get out of them that they will transfer ownership to you for next to nothing. The maintenance fees (annual fees) generally cost as much as renting a similar hotel. They are not good deals.

[Anonymous]

Anonymous wrote:Don't buy one from the resort. Most timeshare places have people so desperate to get out of them that they will transfer ownership to you for next to nothing. The maintenance fees (annual fees) generally cost as much as renting a similar hotel. They are not good deals.

If you want to buy - go to the secondary market. Try redweek.com

[Anonymous]

We are considering timeshare at our favorite vacation spot. It seems kind of cheap on the secondary market. Why are people so turned off by this? Can you rent your week for money?

[Anonymous]

"Extended warranty? How can I lose!?"

--Homer Simpson

[Anonymous]

I’m actually looking for a beachfront one. No it’s not for everyone but I have kids and love the idea of giving them a lasting place (singular) for summer memories like I had. If anyone has recommendations for a good beachfront one I’m all ears!

[Anonymous]

I see no similarity to extended warranty. I am surprised how cheap these are.

[Anonymous]

My good friend has made it works for her. Her parent’s used theirs for 25 years in Hilton Head and she inherited it. She has swapped her week for a week in Hawaii every year (but 2020) for nearly 15 years. Her annual cost is only $1,100. She goes to the Marriott on Maui in Kaanapali. I have gone with her a few times, it is great!

[Anonymous]

Unless your time share expenses in taxes, fees, and "special assessments" are less than a good hotel in the same area, I would not consider a time share. The flexibility of a hotel or AirBNB far outweighs a time share in my opinion. If you have money to burn so that a grand or two is no big deal then you ought to consider buying real property in the area, if that is possible.

For some people a time share works. I know a couple who have several time shares (Orlando, Appalachians somewhere, and another I forget) and they claim to enjoy them but they are the kind of people who deny any negative thing.
Once their health declined, they stopped using the time shares. When their children grew up, they were either too broke to go on trips or did not want to go on a trip.

There is just something i don't like about "You are partial owner of a property but are severely restricted as to when you can use that property, and you must share that property with 50 other people throughout the year."

[Anonymous]

What are these taxes and fees that people talk about? We are looking at Hyatt Residence Club.