are timeshares really worth it?

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

I've read alot of horror stories but there must be something to these things. I was thinking about getting a timeshare possibly in Hawaii since my wife and i just went to Maui and LOVED it. So relaxing and beautiful and I'm into SCUBA so that a plus. Most people on this site mention buying a used timeshare which seems to make sense. Is there anything else I should look for when buying a used timeshare? Thanks in advance to everybody who can give me some advice. What you overpaid for in money will be given back to you tenfold in good Karma

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

Welcome to TS4M's!

There are many things to consider when buying a timshare.

1. What size unit will be the best for you? Studio, 1 BD, 2BD
2. Do you have children?
3. There are fixed and float weeks..Can you vacation the same time each year or do you have to move your vacation around?
4. How much can you afford to spend on Maintenance fees each year. You could spend from $450-over $1300 a year depending on where you buy and what type of unit and season.
5. Do you plan on going to Hawaii every year or once in awhile and trading the rest of the time?

Once you decide on the above it will be easier to look for a timeshare.
Do not rush into buying and stick around on this board, ask questions, and learn about timesharing. There is a lot to learn and then you can make an informed decision.

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

Timeshares have such a horrible reputation because developers set up these huge expectations, charge accordingly, and then when those impossible expectation cannot be fulfilled it results in a very unhappy owner...one who is often so angry that they are practically willing to give the thing away just to get out from the annual fees. Fortunately, you have found this site and will be able to learn the realities of timesharing and how to use all of the above to your advantage.

With some advance planning and education, (which has become a nice little hobby for many of us), you can travel in a multi-room condo with a kitchen for a fraction of what a hotel room would cost. It does take some time to learn the various systems and what would be right for you and your family. Hang around here, maybe rent a time or two from folks on this board before you buy.

Timeshares are easy to buy, and harder to sell. I love mine.

Welcome to TS4ms.

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

When considering a buy outside the continental US or a location you have to fly to- consider whether transportation costs will affect your future plans. Sometimes one is better off trading into the long distance places- particularly when one can do so for the same or less cost than the destination annual fee.

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

Welcome yabebe! First off let me just say congratulations on finding us before you made a purchase. Unfortunately many don't start their research until after they have returned from a vacation where they've taken a tour for the free gifts and ended up buying an expensive timeshare.

If you stick around a while and continue to read and ask questions, I'm sure that we will be able to help find you something that works for you...and you will not over pay!

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

IMO, yes timeshares are worth it. But it's not just the cost of the timeshare and the maintenance fee's which must be paid every year. Keep in mind that there is also the planning aspect of timesharing. If you want a specific week in a specific location at a specific resort, then you'd better be able to plan a year or more in advance. Timesharing typically doesn't work well for those that can't plan ahead and/or can't be flexible with their travel plans. Currently I'm working on our 2009 vacation reservations and have booked our vacations through March of 2009.

To us timeshares are our vacation homes. There's a huge difference between staying in a timeshare and staying in a hotel room. We prefer timeshares but others prefer hotel rooms. I have photo albums of many of the timeshares we've stayed in over the last few years if you like to view them. They're located on my Webshots page at dougp26364's photos and albums on webshots

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

My advice: take your time, and learn, learn, learn.

It's very easy to buy a timeshare. It's relatively hard to sell one. So, you want to take the time to learn what opportunities will best meet your vacation needs well into the future, at the lowest possible cost.

It was about 1.5 years between first thinking that, perhaps, a timeshare could work for me and my first purchase---the last 3-4 months of which I did some serious research. And, while I've been happy with my purchases so far, I'm still learning. I certainly don't feel as though I waited too long!

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

I've read alot of horror stories but there must be something to these things. I was thinking about getting a timeshare possibly in Hawaii since my wife and i just went to Maui and LOVED it. So relaxing and beautiful and I'm into SCUBA so that a plus. Most people on this site mention buying a used timeshare which seems to make sense. Is there anything else I should look for when buying a used timeshare? Thanks in advance to everybody who can give me some advice. What you overpaid for in money will be given back to you tenfold in good Karma

If you stick around a while and continue to read and ask questions, I'm sure that we will be able to help find you something that works for you...and you will not over pay!

My advice: take your time, and learn, learn, learn.

Yes, they are worth it if you spend at least 6 months on this site reading each and every post and asking questions when you don't understand something. Then, and only then, will you be ready for resale.

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

While you are doing your homework, don't leave out the important analysis of Rent vs Own. HI ts have relatively high mf compared to other US. If you plan to go to HI every year then owning CAN make sense. But if you want to go to other areas also, trading your HI week can leave you holding the short end of the stick.

If you do end up buying HI and find you want to go somewhere else sometimes, I'd strongly suggest renting out your week and using the proceeds to rent where you want to go.

run the numbers and see what makes sense for you. Good luck!

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

Remember you can rent timeshare places and not be tied to the resort for the rest of your life with no control over ever increasing fees. I have made great last minute deals better than top hotels. Some ts would rather rent for something than let it sit empty. They do offer some great places to stay.
Not everyone NEEDS to BUY a timeshare to stay at a timeshare place.

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

Remember you can rent timeshare places and not be tied to the resort for the rest of your life with no control over ever increasing fees. I have made great last minute deals better than top hotels. Some ts would rather rent for something than let it sit empty. They do offer some great places to stay.
Not everyone NEEDS to BUY a timeshare to stay at a timeshare place.

What a nice balanced statement from Bing.

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

wow

so much response overnight! thanks! it does seem to make sense though. we paid about 1500 bucks for 7 days at a nice condo type place on the water so i can see how ts would bring the per night cost down in the long run. we love maui so i can see us going there over and over but i know there are ts out there where you can go to a number of different places.anyone know of any specific hawaii ts that are good? I will take the advice to stay on here for a while and learn. Knowledge always seems to be the best weapon when dealing with real estate etc. again, thanks for all the advice

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

What a nice balanced statement from Bing.

Yes, I'm glad Bing decided to stick around!!

[dw24 Member Find all posts View Profile Close dw24]

I just bought a timeshare for 10,000 that I could have got for as much as half. It wasn't a terrible deal but not a great one either. I broke my own rules...Never buy without doing your homework. I would not have bought it last night if I had studied. I just found out about a 72 hour right of recension. Does anybody know about that?

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

I just bought a timeshare for 10,000 that I could have got for as much as half. It wasn't a terrible deal but not a great one either. I broke my own rules...Never buy without doing your homework. I would not have bought it last night if I had studied. I just found out about a 72 hour right of recension. Does anybody know about that?

Yes, most states have a 5-7 day rescind period....please look at your contract and follow the directions exactly.

RESCIND NOW if u can - the deal will always be there tomorrow.

If it has been more then 7 days usually you are stuck with it - but we can help u use it well.

Where did you buy - what resort and what season??