Talk me into or down from getting into Timshares

[Sidewayzracer Junior Member Find all posts View Profile Close Sidewayzracer]

New member here and i am seriously considering buying myself a resale timeshare. I have been browsing e-bay for cheap properties in locations that i was interested in returning to. Has anyone had any luck with purchasing a deed through e-bay? Also what is the difference between the RCI weeks and RCI points systems?

I figure i can use the timeshare as is or i can deposit it on a year i would not be able to make it and use the credit to take 2nd vacation at some other point.

Im sure i have many more questions but lack of sleep is putting me in a fog as to what i want to ask.

thank you

[JWC Super Moderator Find all posts View Profile Close JWC]

I have been a timeshare owner for over 20 years but I would NOT recommend buying a timeshare now. The initial cost is not an issue if you buy resale. It is the ever increasing maintenance fees that you are obligated to pay every year. As more and more owners are just walking away from their timeshares, the maintenance fees are escalating for the other owners that have to pay for the ones that don't.

There are many vacation options available including renting a timeshare. Renting is often less expensive than the cost of the maintenance fees and you have no obligation. Just do a search for "Timeshare rentals" and you will see thousands of rentals everywhere.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I have been a timeshare owner for over 20 years but I would NOT recommend buying a timeshare now. The initial cost is not an issue if you buy resale. It is the ever increasing maintenance fees that you are obligated to pay every year. As more and more owners are just walking away from their timeshares, the maintenance fees are escalating for the other owners that have to pay for the ones that don't.

There are many vacation options available including renting a timeshare. Renting is often less expensive than the cost of the maintenance fees and you have no obligation. Just do a search for "Timeshare rentals" and you will see thousands of rentals everywhere.

I would agree in some cases, but not others. For someone who really does their research - knows what will work for them and how to make it work - and pays the right price, timesharing can be wonderful. Renting prime weeks at prime locations is often considerably more expensive than owning. For anyone who can travel last-minute and off-season and be flexible about destination, I would agree that renting is easier and inexpensive.

[Sidewayzracer Junior Member Find all posts View Profile Close Sidewayzracer]

thanks for the replies while i was trying to do some searching for past posts. Yeah im trying to make a good decision on ones with low maintenance fees. Though i also figure if i get it and i realize its not for me i can always resell it myself and re-coop my purchase cost.

How much does the paperwork for the transfers normally cost? I see some auctions with the transfer and closing costs paid by seller some not, but they seem to have a wide range in the amount of the fees. is it possible to do the transfers of ownership with out exchange charges?

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Don't buy, rent !
Stay there without having to pay for roofs, pools, etc. for the rest of your life.
TS are not worth much. POOR poor investment,1$ on ebay !

[Sidewayzracer Junior Member Find all posts View Profile Close Sidewayzracer]

Don't buy, rent !
Stay there without having to pay for roofs, pools, etc. for the rest of your life.
TS are not worth much. POOR poor investment,1$ on ebay !

only planning on buying it for the dollar and then resell if im unsatisfied

[ttt Member Find all posts View Profile Close ttt]

I would buy a timeshare only with the intention of using each year. The cost of exchanging and maintaining an exchange account is no longer a good value with fees what they are today.
RCI weeks and RCI points are separate exchange systems. You join one based on the timeshare you purchase. The timeshare can only enroll in one program depending on what you purchase, weeks or points.

New member here and i am seriously considering buying myself a resale timeshare. I have been browsing e-bay for cheap properties in locations that i was interested in returning to. Has anyone had any luck with purchasing a deed through e-bay? Also what is the difference between the RCI weeks and RCI points systems?

I figure i can use the timeshare as is or i can deposit it on a year i would not be able to make it and use the credit to take 2nd vacation at some other point.

Im sure i have many more questions but lack of sleep is putting me in a fog as to what i want to ask.

thank you

[Sidewayzracer Junior Member Find all posts View Profile Close Sidewayzracer]

I would buy a timeshare only with the intention of using each year. The cost of exchanging and maintaining an exchange account is no longer a good value with fees what they are today.
RCI weeks and RCI points are separate exchange systems. You join one based on the timeshare you purchase. The timeshare can only enroll in one program depending on what you purchase, weeks or points.

thanx for clearing that up for me.
though i can also see using the timeshare as a last minute wedding present and save myself from having to go shopping, so worth it lol

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

thanks for the replies while i was trying to do some searching for past posts. Yeah im trying to make a good decision on ones with low maintenance fees. Though i also figure if i get it and i realize its not for me i can always resell it myself and re-coop my purchase cost.

How much does the paperwork for the transfers normally cost? I see some auctions with the transfer and closing costs paid by seller some not, but they seem to have a wide range in the amount of the fees. is it possible to do the transfers of ownership with out exchange charges?

Forget about recouping your costs. I have been giving away prime weeks to cut down on my maintenance fee obligations now that I can't use all my time.

Most auctions in which seller is paying all costs are for less than prime weeks. The large ebay sellers charge inflated closing costs - it goes right to their profit margin. But for weeks they don't want to get stuck paying maintenance fees on, they are willing to eliminate or reduce the fees. Resort transfer fees vary and are charged directly by the resort, should not be inflated by closing company.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

I would buy a timeshare only with the intention of using each year. The cost of exchanging and maintaining an exchange account is no longer a good value with fees what they are today.
RCI weeks and RCI points are separate exchange systems. You join one based on the timeshare you purchase. The timeshare can only enroll in one program depending on what you purchase, weeks or points.

This is the best advice. Buy where you want to USE - buy the very best time (or view or whatever makes the resort desirable to maximize value to others should you need to rent or trade on a rare occasion), buy inexpensively on resale (you figured that out) and be aware of the annual fees as they are the true cost of owning. Figure $100-$500 for closing expenses on average. You may easily find resales today that the current owner will pay those for you.

Buying is easy - selling is tough. If you don't know of a resort you want to have priority of use at then don't buy - rent. Right now and for the next few years at the least that is the most cost efficient way to use timeshares. Trading has become way too hit and miss as well as costly while renting has become extremely cheap, easy and you control exactly what/when where you get for your money. We own at two resorts we love & literally use 95%+ of the time. For those we want the fixed use week (at a seasonal area) or the best choice (52 / weeks per year, our choice, at a basically year round demand area) and, also VERY important, both are OWNER controlled so fees are reasonable and go 100% to making the resort better not to management/name brand unneeded and unproductive overhead.

Enjoy!

[bjones9942 Senior Member Find all posts View Profile Close bjones9942]

As long as you're not buying as an 'investment' in anything but a nice vacation, I'd say go ahead and buy. Of course, do your research on location, property and maintenance fees (also watch for the wary AI [all inclusive] resorts that'll add to your mf's). Recognize that if you're buying for $1 on eBay, that's what you MIGHT be able to get if you sell. Many sellers on eBay are including current year paid usage as well as transfer fees (~$50 - $1000+ depending on the resort) and closing costs (I'm not sure how much).

Also, buy where you want to vacation. Get either a floating week, or a fixed week at a popular time. If you do trade, you'll have a little more trading power. Don't expect to rent for a profit - if it's not a great location, you'll be lucky to recoup your mf's.

I bought my timeshares to force me to take vacations. My mf's are very low and the resorts are in areas I want to vacation in. One of my timeshares is RTU which will expire in a dozen years, so I don't ever have to worry about selling it. The other - well, my estate will have to deal with that one

From the tone of your posts, it seems you've already decided to buy. I'll just say one more thing: enjoy!

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

I just bought one (EOY) and intend to use it or trade it with one of the independent exchange companies. Actually, now is a good time to buy in if you know the resort, management, and potential for fee increases. I went from 9 timeshares to 1 timeshare shortly after the turn of the century and have been looking ever since for a select few resorts. Buying where you want to go is good advice and avoids the extra cost of exchange fees and membership. Take you time and do a lot of research before you jump in. It will probably be a few years before the resale market comes off the bottom of the pricing range.

[Presley Senior Member Find all posts View Profile Close Presley]

I am currently shopping ebay resales, as well.

I know many people suggest not buying timeshares at all. For me, it become insurance that we will get some vacations. I don't look to save money or to have an investment. It's like vacation insurance for me and my family.

Like the others, I bid on where I would stay. I look at the total out the door price, to know if I could even afford to buy it for $1, and then I look at the annual dues. I do a cost comparison between the annual dues and what I would pay to rent a room at the same place for the same week. If it makes sense, I bid on it. Most have looked to be close to $1,000. for the fees not including the winning bid.

I'd suggest only bidding on TS that are being sold by companies with a high satisfaction rating. Their listings are very detailed and most say that if the list is incorrect, they will give you a full refund.

[bnoble Senior Member Find all posts View Profile Close bnoble]

Here is what you are buying when you buy a timeshare: the legal obligation to pay for the ongoing operating and maintenance costs of a (fraction of) a luxury condo, whatever they may be, either until you sell it, it expires, or you expire. And, while the timeshare may not expire, you probably will. In exchange, you can occupy that condo for some fraction of time, subject to availability.

That's it. That's all there is.

Now, there are reasons why that might be a halfway decent idea. For example, if it is somewhere (or, in the case of a "mini-system" several somewheres) you would like to travel regularly, and the ongoing costs seem likely to be lower than market rents, then it can be a decent deal. But, remember too that you need to still cover all of the other "costs" of vacationing: transportation, food, entertainment, and time away from work.

For me, it become insurance that we will get some vacations.

This is a fair point. It is a forcing function---because you use it or lose it. Sometimes, that's a good thing. Sometimes, it's a bad thing.

[JWC Super Moderator Find all posts View Profile Close JWC]

Here is what you are buying when you buy a timeshare: the legal obligation to pay for the ongoing operating and maintenance costs of a (fraction of) a luxury condo, whatever they may be, either until you sell it, it expires, or you expire. And, while the timeshare may not expire, you probably will. In exchange, you can occupy that condo for some fraction of time, subject to availability.

That's it. That's all there is.

Now, there are reasons why that might be a halfway decent idea. For example, if it is somewhere (or, in the case of a "mini-system" several somewheres) you would like to travel regularly, and the ongoing costs seem likely to be lower than market rents, then it can be a decent deal. But, remember too that you need to still cover all of the other "costs" of vacationing: transportation, food, entertainment, and time away from work.


This is a fair point. It is a forcing function---because you use it or lose it. Sometimes, that's a good thing. Sometimes, it's a bad thing.

I agree except for the part about a luxury condo. Condo yes, but not always luxury. We have stayed in several timeshares all over the US + Mexico. Much less than half are what I would call luxury.