Timeshares are they worth it?

[Anonymous]

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

Maintenance Fees Special Assessments Utilities Taxes
https://www.nolo.com/legal-encyclopedia/can-timeshare-be-foreclosed-nonpayment-fees-assessments.html

Timeshare properties also often charge owners for utilities. Some places will add up how much electricity you use and bill you for it at the end of the week.
This cost can get expensive in tropical beach locations where you'll run the air conditioning all week or in cold locations, like at a ski condo in winter, where you'll have to turn the heat up.

[Anonymous]

Omg no. Please google Dave Ramsey’s advice about timeshares. Even if you don’t like him he’s spot on about them.

[Anonymous]

Anonymous wrote:

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

Maintenance Fees Special Assessments Utilities Taxes
https://www.nolo.com/legal-encyclopedia/can-timeshare-be-foreclosed-nonpayment-fees-assessments.html

Timeshare properties also often charge owners for utilities. Some places will add up how much electricity you use and bill you for it at the end of the week.
This cost can get expensive in tropical beach locations where you'll run the air conditioning all week or in cold locations, like at a ski condo in winter, where you'll have to turn the heat up.

ok, I read this... it looks like a condo which is where we live, so we are used to it. the difference, as I see it, is that the sums involved are so much smaller. I see how you can lose money and not utilize this, but the investment is not huge so the loss very limited.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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

Maintenance Fees Special Assessments Utilities Taxes
https://www.nolo.com/legal-encyclopedia/can-timeshare-be-foreclosed-nonpayment-fees-assessments.html

Timeshare properties also often charge owners for utilities. Some places will add up how much electricity you use and bill you for it at the end of the week.
This cost can get expensive in tropical beach locations where you'll run the air conditioning all week or in cold locations, like at a ski condo in winter, where you'll have to turn the heat up.

ok, I read this... it looks like a condo which is where we live, so we are used to it. the difference, as I see it, is that the sums involved are so much smaller. I see how you can lose money and not utilize this, but the investment is not huge so the loss very limited.

I second the reading of Dave Ramsey on time shares: https://www.ramseysolutions.com/debt/the-truth-about-timeshares

Dave: For the money you put into a crummy timeshare, you could go to Europe every summer for the rest of your life...

But if you want to be obstinate about it, well then, plunk your money down and pay taxes and fees for the rest of your life on it.

[Anonymous]

They work for some people, like my parents, who are retired, have endless flexibility, and love to drive. They have some great locations.

I will not be taking any of them as inherited timeshares, when the time comes. No way.

[Anonymous]

I do go to Europe every year and then some... So I got that covered, thanks. I am looking for actual information about time shares, like hidde

I read the article you recommended and it was about company (fraudulent or not) that helps people "exit their timeshares". My question is can't you deed your timeshare to company? What happens if you just stop paying maintenance fees?

[Anonymous]

Anonymous wrote:We are a family of 5 and are considering getting a timeshare for either the kids Christmas break or spring break. Is it cheaper than going to expedia or some other search engine to book a room etc? If a timeshare is the way to go where should it be? We also thought about getting a timeshare in a cheesy place and just switch around every year.

Do NOT under any circumstances buy a time share. Never. Ever. You can thank me later.

[Anonymous]

We recently sold our Disney timeshare (DVC). It was a fantastic purchase and we have no regrets about our years owning it. We had purchased it second hand and went to Disney approximately every two years. We had the option to rent out our points but never did.

So I guess the answer is that it just depends on the timeshare, the finances and how often you’ll use it.

[Anonymous]

Not worth it any longer. Twenty years ago, there was a benefit but now that vrbo and others exist , the timeshare market is a big no. As the resorts age, more money is needed from owners for upkeep. I think renting them from an owner is the better way to go. Check www dot tug2 dot net for rentals and general info.

The only one to ever consider if you have young children might be buying into Disney.

[Anonymous]

Here's how bad owning a timeshare is: People will give you money to take theirs.

A timeshare is like a child. It's expensive to own.

[Anonymous]

Anonymous wrote:I do go to Europe every year and then some... So I got that covered, thanks. I am looking for actual information about time shares, like hidde

I read the article you recommended and it was about company (fraudulent or not) that helps people "exit their timeshares". My question is can't you deed your timeshare to company? What happens if you just stop paying maintenance fees?

They'll sue you and send debt collectors.

[Anonymous]

You HAVE to watch the Last Weeks Tonight with John Oliver episode on time shares and you will never entertain the idea

[Anonymous]

I've got two different experiences to share--My parents had one when I was a kid and I definitely loved having that one week a year at the same beach resort and knowing exactly what to expect (it helped that they bought it as part of a group of families who all chose the same place and week, so I had friends there at the same time). But years later it was a nightmare to get rid of and my dad still curses the experience and cost of it all. He's one of those people who basically had to pay someone to take it off his hands.

Then there's my FIL, who bought over a million points from Wyndham for the sole purpose of letting his kids and their families use them. My husband, who is one of 5, gets 1/5 of those points for us to use and in exchange all the siblings split the cost of the yearly maintenance. It's a hassle to use because the website is clunky to search and you need to do things so far in advance to have options, but I do love that we take a vacation every year for a fraction of what it would cost us if we had to pay for lodging and most of our food. I have no idea how it will play out in the future but for right now it's a system that works for us.

[Anonymous]

I love that PP revived a 10 year old thread just to warn against buying a timeshare.

OP probably made that decision at some point in the past decade, but your objection is noted by future DCUMers.

[Anonymous]

My in laws have had one for 20 years and it's the biggest scam. It drives me NUTS. They talk about it like it's the greatest thing in the world, but they are blue collar workers from a little podunk town and think it's their ticket to see the world.....aka stay in an outdated condo in random towns in FL or GA at inopportune times.