I'm interested but know nothing!!!! help

[kab996 Junior Member Find all posts View Profile Close kab996]

I am interested in buying a timeshare but don't know too much about it. Friends of ours own 4 weeks at 2 different places but I never understood how it all works. I know that you have to buy one and pay maintenance fees but thats about all I know. I know nothing about what week to buy, or what floating means, etc. etc.
How do you know what a good one to buy is?
We really LOVE Harborside Atlantis and would love to own a timeshare there but they are very $$$$$ The maintenance fees are outrageous. Is there any less expensive timeshares I could buy and trade for Harborside? My girlfriend has Interval International but she cannot get into Harborside.

What are the pros and cons, in's and out's of purchasing and owning a timeshare? What are the best ones??
Someone please advise???
Thanks

[mrspigdoc Member Find all posts View Profile Close mrspigdoc]

hold on

The best way to get what you want/need is slow down and do lots of research. You are on the right track when you ask whether you can trade into the resort you are interested in. Make sure you know what you want. Also, do the number crunching. Can you go to the resort you want for a similar price as the annual m/f plus a portion of the purchase price? Sometimes you definitely have a better deal with timeshares, other times, you may just want to rent and not have the ongoing responsibility of a timeshare (says the woman who has weeks and weeks and weeks of timeshare time )
Teresa

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

Welcome to TS4M's

The best advice that I can give you, is to learn as much as possible before purchasing a timeshare. There is much to learn, and you can get started, by reading the threads on this forum.

Regarding Harborside......It is possible to trade into Harborside through II. If you own another Starwood resort, you get a 3 day preference period. This preference period would give you an advantage over other timeshares in exchanging into Harborside. However, Harborside is a very difficult trade, and usually shows up only during the flexchange period. (The last 59 days before check-in.) It also shows up during hurricane season.....Not to say that it never shows up at other times, but you certainly couldn't count on it.

It is always best to purchase a timeshare at a resort that you wouldn't mind visiting most times, and only plan on trading, every few years, IMO. Of course, I also would only purchase resale.

Hope that gives you a start. You can browse through this site, and then ask more questions, as they come up.

Good luck!!!

[Chap7 Super Moderator Find all posts View Profile Close Chap7]

Check the completed listings section on Ebay under timeshare to get an idea of what different resorts are going for on the resale market.

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

BTW....I also should have said that I love my timeshares, and that they have provided me many wonderful vacations. I doubt very much if I would be able to do the traveling that I do, had I not purchased them.

Timesharing can be a wonderful experience, however, proceed with caution. You really do need to know what you're getting into, and what timeshare would work best for you. There are many options out there....floating weeks, fixed weeks, points, etc. Learn as much as you can between the different companies, and systems, before you make any decisions.

[jfitz Member Find all posts View Profile Close jfitz]

I am interested in buying a timeshare but don't know too much about it.
---snip---
What are the pros and cons, in's and out's of purchasing and owning a timeshare?

The cons are the cost to purchase, maintenance fees, special assessments, exchange company fees, and the fact that in today's market you can often rent the identical unit for less than the cost of the maintenance fees.

Depending on where and when you want to vacation a timeshare purchase may give you more bang for your vacation buck. Buying to use, rather than exchange, guarantees that the accommodations you want will be available for your use every year. Exchanging offers the opportunity to obtain quality accommodations at a variety of locations. Some like that owning forces them to take a yearly vacation; they are obligated to pay the maintenance fee and will then use the interval even if finances are tight.

Exchanging has benefits and pitfalls. Don't fall for the sales pitch that talks about using your week to exchange anywhere at any time. Keep in mind the general rule that for every trading company exchange that results in a trade up there is another exchange that results in a downgrade. With floating weeks or points it is impossible for everyone to get the prime weeks, someone is going to have to settle for something less desirable. Those with the knowledge and time to work the system are going to benefit at the expense of those who do not.

Do plenty of research on this forum and the other timeshare forum, then ask specific questions, then do more research, then ask more questions. If possible, rent a week and stay at the resort you intend to purchase. Remember that when buying a timeshare you are, in most cases, taking on a lifelong obligation to pay the maintenance fees and special assessments; an obligation that will be passed on to your heirs.

[mrspigdoc Member Find all posts View Profile Close mrspigdoc]

One of the big reasons I love my timeshares is that I am "forced" to go on vacation. I never really traveled much, but now that I have lots of timeshares, I go and enjoy time with my family. I have been able to spend time with my extended family...it is like those ads, priceless.

So, take it slow, if you find what you want/need, pay a reasonable price, and enjoy!
Teresa

[kab996 Junior Member Find all posts View Profile Close kab996]

Thanks so far to those who have replied.
I have a few specific questions.............

Is it better to purchase a timeshare within driving distance?? Airfare can be VERY expensive these days!!!

Has anyone bought a "cheap" timeshare just to use as an exchange? Is that wise?
What does floating mean?
Is July 4th week considered "high" season?
What do points mean?
How far in advance do you have to exchange?
What are the average maintenance fees? What are the other hidden fees ie... special assessments?
Is a timeshare really worth it for travel once a year?
What do you do with your timeshare if the place you want to go isn't a timeshare?

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

Thanks so far to those who have replied.
I have a few specific questions.............

Is it better to purchase a timeshare within driving distance?? Airfare can be VERY expensive these days!!!

Only you can answer that question based on your wallet and your love of travel.

Has anyone bought a "cheap" timeshare just to use as an exchange? Is that wise?

Yes, it can be if you know what you are doing.

What does floating mean?

Means you don't have a fixed week but there are many different 'schemes.'

Is July 4th week considered "high" season?

If it's a place where US tavelers frequent, yes.

What do points mean?

Currency for booking timeshare. Many different points systems, all different.

How far in advance do you have to exchange?

As far as you can stand, and as far as you can find what you want..

What are the average maintenance fees? What are the other hidden fees ie... special assessments?

There aren't 'average' fees as there are all sorts of 'levels' of resorts. Special assessments happen when there is a disaster or when management doesn't plan well, which is also a disaster.

Is a timeshare really worth it for travel once a year?

Yes.

What do you do with your timeshare if the place you want to go isn't a timeshare?

The ultimate trade is cash, you rent your timeshare to someone else and pay cash for your travel.


Slow down and read every word on this BBS.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Is it better to purchase a timeshare within driving distance?? Airfare can be VERY expensive these days!!!

This should be into your valuation a TS when you ready to purchase a TS and try to make offer between several different resorts. But you are the one that determines how much you want your annual spending on vacation.

Has anyone bought a "cheap" timeshare just to use as an exchange? Is that wise?

exchange rule is controlled by exchange companies and set by only a few people, so it can change and very frequently. I know people are very good at play the exchange rules and adjust the changes. I also know people are very upset with the exchange and feel they are stuck with their TS. If you plan that way, try to learn and get yourselves very comfortable on how to get rid of your TS. So when the rules get changed, you can "exchange" to another one as well.

What are the average maintenance fees? What are the other hidden fees ie... special assessments?

Can not expect a regular TV cost the same as big flat LCD TV right? Living cost is very different in different area. Some places with frequently nature disaster will have higher insurance cost than places without.

Generally, a good resort will cost certain level to maintain its standard than a regular resort. The more bed room one will cost higher than 1 bed but the avg cost per room will be much less. The one in high living cost (city, Hawaii) area will cost you much more than low cost area. You have to deterimine what kind of standard you want to own, and if it cost is too high to you, how you can get them as exchanger.

As hidden cost, if you use it as exchanger, the exchange fee and the membeship fee. If it is point system, it will have club membership, some system will have extra conversion fee, some may charge you transaction and/or house keep credit. Some city will charge you transient occupancy tax, some resorts may charge you activity fee when you visit, or parking fee. Some AI resort will have AI cost. FL (I believe some CA area) property usually MF does not including property tax, so it will be charged seperately.

Sounds like your girlfriend already own TS? So why not try to learn how to max the use of it first?

Jya-Ning