Are timeshares that bad?

[Anonymous]

We’d likely go to Disney/ universal Orlando every year for the next 15 years . Are time shared really that bad of a purchase?

[Anonymous]

Yes

[Anonymous]

Disney every year?? I would kill myself.

[Anonymous]

Hell, yes. Just say no.

[Anonymous]

I don't think they necessarily are bad, especially not the Disney ones. But you don't need to buy a timeshare to stay at a timeshare. You can usually buy the points secondhand, or just stay at the timeshare properties.

I've seen school auctions where people donate the total ownership of their timeshares, and it might go for $100. Maybe. What's that telling you is that they don't really have any value. It's an obligation to pay the annual "maintenance" fees, which are generally higher than what the actual maintenance would cost for fractional ownership.

So, just keep your options open. Look at buying points, VRBO, etc. Also look at buying timeshares from people who are trying to get rid of them.

[Anonymous]

I don’t know much about them. But My parents can’t get rid of theirs and complain a lot about what a ripoff they are.

[Anonymous]

Disney Vacation Club is not that bad. Everything else you can never offload.

[Anonymous]

The breakeven on DVC is really long. It’s better to just rent points, or if you must, buy a resale contract. Google it - lots of detailed analysis has already been done.

[Anonymous]

Yes, someone is willing to giveaways their TS due to high annual maintenance fees yikes!

[Anonymous]

Never buy directly from the company/developer.
Buy a resale on Redweek.com or a similar organization.

Marriott was selling Maui properties for $40K. Resales were $10k!

[Anonymous]

Maintenance Fees. It's not about the purchase price of Time shares, it's the maintenance fee (the increases .. without the owner having control) Important: the maintenance fee may be called by another name.

[Anonymous]

We don't own a time share and we never would, BUT, I think they are sort of worth it for a specific group of people:

People who know that they will spend $X on vacations every year for the next 15-25 years, and who would be happy going to the same place, or a similar type place every year. The cost of the buy-in, plus the annual maintenance fees, is only a smidge less than what you'd pay for the week this year -- you're basically insuring yourself against inflation in the vacation market. Even with that, I would ONLY buy from one of the major hotel operators that allow you to exchange pretty freely like Marriott; Hilton; Sheraton -- or maybe Disney if you're really happy with the Disney brand. (I think Disney is expanding their non-theme park options, including the cruises, Hawaiin resort, the one on Hilton Head, and the really awesome but expensive Disney Adventures tours, in part to give their vacation club owners someplace else to spend their points).

Do not expect any re-sale value. And do not buy into one of the cheaper places, many of which have pretty run-down facilities when you go looking to exchange your place.

One advantage of the Marriot and similar time shares is that the rooms are typically larger than a typical hotel room (a lot of them have 2 bedroom suites that sleep 8), so they really are great for larger families or families with older kids. Some of the families I know that have that kind of time share alternate inviting their older married kids, who can have a whole room to themselves.

[Anonymous]

YES.

[Anonymous]

Yes.

[Anonymous]

Look at the maintenance fee. Compare that to a hotel for a week. Not much different.