Reply to Get rid of your timeshares!!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't get how timeshares work [/quote]

If you inherit it, you are responsible for the annual fees (usually thousands) even if you don't use it.[/quote]

But a timeshare is just you buy a week at a place right? How is this any different that just renting a vacation rental for a week? I don't get it.[/quote]

You are a co owner of the property, responsible for maintenance fees. But, typically you have no say in the maintenance decisions and are not entitled to a specific unit. Sometimes you are entitled to be there for a specific week but most  places have converted to a points system where you have to book way in advance.

There are people who fully own a specific unit year round and can update and furnish it themselves, that seems OK. But usually when people say timeshare that's not what they mean. [/quote]

I don't hear any benefits here. What's the point?[/quote]

My in laws bought one because they basically wanted to commit themselves to a week at Disney every year. They did this when the grandkids were little. Now the kids don't want to go with them anymore. (Not our kids - my BIL's kids.)

They got it cheap but it's not SO cheap to actually use. They tried to give it to us to use once but all the properties we could spend their "points" at were going to cost enough money that we felt like the juice was not worth the squeeze.

TL;DR: I think people like the idea of being committed to a week of vacation somewhere warm and it seems like a bargain. Then it's not such a bargain and you don't want to go there anymore anyway. But you're stuck.[/quote]

My ILs did the same. They offered it to us for our honeymoon as our wedding gift and I said under no circumstances were we honeymooning at Disney World (probably got things off on the wrong foot, haha). Then every year they say we can use it with the kids but when I price it out we're still spending a fortune. I told them they could take the kids but they're not interested in that even though they're 9 and 7 and easy now. So it goes unused. 
They also bought a plot of unimproved Florida swamp, think Glengarry Glen Ross, to "retire" on. They're retired and 70 now so I don't think anything will ever be built there with prices so high now.[/quote]

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