What do you own when you buy a timeshare? Nothing.

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

And I have personally seen an "owner" throw a hissy fit at the timeshare in Hawaii when he was moved to an old rundown POS when his week was over booked. We were at the resort on Kauai with our friends who bought one on their honeymoon, several years later they're providing free weeks at they're timeshare place, because they're on the hook already and lose them if they don't use them. I wouldn't touch one with my ten foot pole.

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

Florida guy, thanks for the heads up, I read your blog in 2012 when we first came out to Kauai. Funny story, we went to get free Luau tickets, but had to do the "talk" to get them. I put fake everything on my application form, including current bankruptcy, behind on child support, disability, etc. They sent to a "closer" who told me they a special deal for people just like me. Instead of 40,000$ downpayment and lifetime fees, they would take 15,000$ and year of fees for the EXACT SAME THING. When that was rebuffed, they lowered it to 5,000$ and a year of fees. I asked them to write that down, they said no.

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

falsotex - It appears that you really don't belong here and if you insult another member, I'll see to it that you are no longer here.

[Sydney Contributor - Bronze Find all posts View Profile Close Sydney]

... I put fake everything on my application form, including current bankruptcy, behind on child support, disability, etc. They sent to a "closer" who told me they a special deal for people just like me. Instead of 40,000$ downpayment and lifetime fees, they would take 15,000$ and year of fees for the EXACT SAME THING. When that was rebuffed, they lowered it to 5,000$ and a year of fees. I asked them to write that down, they said no.

Many timeshare sales people are unethical and immoral.

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

Many timeshare sales people are unethical and immoral.

An oldie but a goodie. I must have hit the nail square if no one has any stories to refute my experiences. Thanks moderator, good luck on your next timeshare sale.

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

Re the thread title: What do you own when you buy a timeshare? Nothing.

I do not consider timeshare an investment, but I was lucky enough to buy a second hand (right of occupancy) week in a resort in the UK, which was then bought out, and was paid out more than it cost. HOWEVER I would never buy new, and believe that if you did you would never get all your original cost back. (certainly not in the UK)

So in my opinion if you buy fixed weeks then you own the right of occupancy for that place during those weeks which is something, although if you buy something which is floating or points based then this becomes harder to define and more likely to "evaporate".

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I do not consider timeshare an investment, but I was lucky enough to buy a second hand (

I was a little freaked out at that point. Good thing I kept reading.

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

you hit nothing... The title of this thread, old as it is, is; What do you own when you buy a timeshare? Nothing

whether the owner is a moderator or an timeshare salesman or neither of those.. Or whether they bought directly from a developer, or on the secondary market and no matter what they paid, you do own something when you own a timeshare. And it doesnt matter whether thats a deeded ownership for a fixed week or a floating week or points symbolic of that deeded ownership you really do own real property and certain rights to use that ownership. Even if all you have is a membership in a Club, like Worldmark or Club Wyndham Access and the club holds the deeds, you own a license to use the real property that is owned by the club

Its a lot like asking; "what do you own when you own stock in a corporation?" its an intangible, but its something. And like ownership of stock your ownership in a timeshare may be worthless, but again its not nothing

I own lots of things that are "worthless" like my 46 year old daughters bronzed baby shoes, and some of the "refrigerator art" my 39 yo son brought home from gradeschool. I even have my college diploma from 50 years ago in a box somewhere around hear.. Its worthless, but I own it. and at least some of who I am today cane from those experiences, symbo;ized by those worthless trinkets im still holding on to. Worthless, sure. (and they cost me a bunch), but they are not nothing

So back to the timeshares. In my opinion the value comes from their use, if you can use what you own it has value, if not, not. I understand if you havent figured out how to use them why you might feel like you do, but understand this forum is full of people like myself that have figured out how to use this stuff and we do see value in what we own

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

It seems like everyone who acquires a timeshare does so for their own reasons, which are not easily fit into a cookie-cutter sort of discussion on the Internet.

When we first did more than 25 years ago, it was because it forced us to get away. Then we went through a period when we actually got economic benefits from it because we could use 4-6 weeks a year for business.

Now the only reasons would be for golf or beach access. We have the first and are patiently going about acquiring the latter.

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

you hit nothing... The title of this thread, old as it is, is; What do you own when you buy a timeshare? Nothing

whether the owner is a moderator or an timeshare salesman or neither of those.. Or whether they bought directly from a developer, or on the secondary market and no matter what they paid, you do own something when you own a timeshare. And it doesnt matter whether thats a deeded ownership for a fixed week or a floating week or points symbolic of that deeded ownership you really do own real property and certain rights to use that ownership. Even if all you have is a membership in a Club, like Worldmark or Club Wyndham Access and the club holds the deeds, you own a license to use the real property that is owned by the club

Its a lot like asking; "what do you own when you own stock in a corporation?" its an intangible, but its something. And like ownership of stock your ownership in a timeshare may be worthless, but again its not nothing

I own lots of things that are "worthless" like my 46 year old daughters bronzed baby shoes, and some of the "refrigerator art" my 39 yo son brought home from gradeschool. I even have my college diploma from 50 years ago in a box somewhere around hear.. Its worthless, but I own it. and at least some of who I am today cane from those experiences, symbo;ized by those worthless trinkets im still holding on to. Worthless, sure. (and they cost me a bunch), but they are not nothing

So back to the timeshares. In my opinion the value comes from their use, if you can use what you own it has value, if not, not. I understand if you havent figured out how to use them why you might feel like you do, but understand this forum is full of people like myself that have figured out how to use this stuff and we do see value in what we own

You may own something, but it's a virtual ownership, it's not real property even with a deed.

And what you own is so worthless that even when it's paid off the timeshare company doesn't want it back for free they just want your never ending and always increasing maintenance fees. The problem is that they profit greatly on those fees, they are not actual costs for upkeep and maintenance which is why it's a scam. You are collectively paying $50K or more on a property that would not even cost that much if you ere to buy and have a mortgage on it.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

You may own something, but it's a virtual ownership, it's not real property even with a deed.

And what you own is so worthless that even when it's paid off the timeshare company doesn't want it back for free they just want your never ending and always increasing maintenance fees. The problem is that they profit greatly on those fees, they are not actual costs for upkeep and maintenance which is why it's a scam. You are collectively paying $50K or more on a property that would not even cost that much if you ere to buy and have a mortgage on it.

Everyone here knows all that, and pretty much doesn't care.

Most folks are on Internet forums because they are enraptured with whatever the forum is about. So, unless they are caught up in one of the shortcomings, like, in this case, not being able to get rid of a timeshare they no longer use or want or need, posts pointing out those shortcomings are mostly just an annoyance.



Me, I love timesharing, and find almost nothing wrong with them.

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

You may own something, but it's a virtual ownership, it's not real property even with a deed.

And what you own is so worthless that even when it's paid off the timeshare company doesn't want it back for free they just want your never ending and always increasing maintenance fees. The problem is that they profit greatly on those fees, they are not actual costs for upkeep and maintenance which is why it's a scam. You are collectively paying $50K or more on a property that would not even cost that much if you ere to buy and have a mortgage on it.

Virtual... according to merriam-webster; "being such in essence or effect"

thats good enough for me,
I appreciate you dont see the value but you bake a bad argument .... you are way off base in almost everything you say here

it is real property and the rights I have as an owner are real as well..
and its not worthless, at least not what I own (I bought a bunch and sold 2/3 of what I had for a profit.
and recently I gave back (to the developer) two weeks that I no longer use
Maintenance fees are just that,,maintenance fee, there is no profit to the developer in them

The average maintenance fee for a one bedroom industry wide is Im told about $750 a week so $40000.. close enough to your estimate of over $50000... Is that high...sure. is it too high. Im dont think so Here are some monthly numbers from my budget at home

electricity 200
cable 200
phone 200
taxes 350
insurance 150
water./sewer 100
lawnmowing 100
fertilizer, pesticides, weed control 100
pool maintenance $100
weekly housecleaning service @100= $400
air conditioner service 30
appliance repairs and maintenace ?? $50

replacement reserves
air conditioner 83 ($1000/10yrs/12mo)
roof $83 (20000/20 /12)
water heater $12 (1000/7/12)
new carpet New furniture $600 (50000/7/12)
pool surface replacement $33 ($4000/10/12)

I manage my home myself, but lets assume I had to hire someone to do it for me and to be on call 24/7 for repairs and emergencies, and lets further assume that the guy I hire would be doing this for everyone on the block so $50000 annual salary/25 homeowners/12 months so my share would be $166.

and I dont have a front desk manned 24/7 but lets assume my little neighborhood is a gated community and we pay someone to man the gate 24/7 I think that would take 4 guys at $25000 a year so 100000/25 homeowners/12 months. My monthly share is $333


The resorts I go to all have a gym. I pay $100 a month for my gym membership and there is usually some special recreational something that I take advantage of at the resorts, like a mountain to ski, or a lake to go boating or fishing or a nearby entertainment venue, like Disney, or the beach or golf course etc etc to duplicate these amenities at my home means joining a country club, or yacht club or something like that.. and I have . I own a boat for recreation and it costs me $1000 a month to dock it

so add this all up and to duplicate what I get at a timeshare resort at home costs me


add it all up and you get something like $4200 a month or $50000 a year


If you dont like that approach lets just consider what a timeshare costs vs what it costs to rent comparable vacation rentals or a hotel
I own a week in a nice resort in a New Orleans, my maintenance fees are $550 for a one bedroom week or $80 a night.. compare that to the local hotels at over $200/night
I also have points in Worldmark the club and can use those points to reserve a studio in San Francisco my fees for a week there are about $800 for the week or $120 a night... Compare to hotels at $300 a night
I can also use those Worldmark points for a week in Hawaii mf about $800 a week. folks are renting these at $1500


Jlb is right. this board is full of people that like our timeshares and have found great value and great pleasure owning them> Im not going to say timeshares are right for you, but you are fighting a losing battle knocking them here.

[rapmarks Moderator Find all posts View Profile Close rapmarks]

nice job Ron

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

nice job Ron

Thanks

I know it was a stretch to include my boat along with my household expenses, but I needed to get to $50000... and after all it is part of my lifestyle that has to be paid for no different than my vacations

There are a lot of reasons to not like timeshares but some made up crap about how the developers profit from mf, is not one of them
Now if you want to go after the developers for selling $200,000 condos for $1,500,000 with deceptive, and unethical (I would say criminal) sales practices, Im all over that.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Jlb is right. this board is full of people that like our timeshares and have found great value and great pleasure owning them> Im not going to say timeshares are right for you, but you are fighting a losing battle knocking them here.

We love our timeshares too and go there every year since the early 80's. They are our home away from home on the most beautiful beaches (in CA, HI and MX) but without all the hassles of owning a vacation home.