Timeshare hassles and ripoffs

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

I was surprised, too, because I have gotten great deals on Priceline and Hotwire in the past, but they don't really have much to offer in these high-demand tourist locations. Meanwhile our stay in our 2br timeshare is bought and paid for and confirmed and ready to go.

That is not the least surprising.

The basic premise behind PL and HW is that they are a conduit for surplus inventory - rooms that otherwise would have gone unfilled. If there is no surplus, the vendors only release rooms to PL and HW at prices that are higher than what they would charge themselves.

Before the hacker got into ezboard several years ago and deleted postings, Bidding for Travel had numerous examples of people who had bid on Priceline during peak periods and wound up paying more than the hotel was charging for the same room. The bidders were apparently figuring, incorrectly, that PL and HW were always less than the vendor rate.

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

There is a big difference in what I " PAID " for my home and the current "value " , twenty years worth. Also I have my home to myself apx. 365 days a year and any improvements I make I will get back when I sell.
to buy,use, improve, and sell for a profit = good investment.
For vacations, I like B&B.

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

There is a big difference in what I " PAID " for my home and the current "value " , twenty years worth. Also I have my home to myself apx. 365 days a year and any improvements I make I will get back when I sell.
to buy,use, improve, and sell for a profit = good investment.
For vacations, I like B&B.

I had a feeling this statement was coming. What my father paid for our home in 1969 was about twice as much as what I paid for our first timeshare in 1998 and I own a couple of timeshare's that cost almost as much as that first house. For that matter I own a CAR that cost as much as that house did way back then and that car sure won't have much in the way of residual value when I'm done with it either.

The statement is STILL very much misleading when you say my timeshare cost half as much as my house and then say your house is worth 450G.

Essentially, you don't like timeshares and that's fine. No one can argue succesfully that timeshares are the best method of vacation for everyone but, you can't say those that do use them are on their high horse or that they have paid to much for their vacation. That is only a matter of opinion. Trying to bear that out as fact by using misleading statements puts you in the same class as most TS salesmen I've heard at those lovely 90 minute presentations.

Vacations aren't something that you'll never see a profit from such as the investment value of real estate. That is assuming the housing market bubble doesn't "burst." Most of us can agree that we're not going to see a profit from our timeshares if and when we sell them.

You certainly won't see a profit by renting your vacation at the last minute or staying at B&B's. That money is strictly an investment in your vacation. Just like timesharing is looked upon as an investment in our vacation.

The fact that timesharing does not fit your lifestyle has no bearing on the discussion other than it doesn't work for you. None of us are on any high horse or crusade to prove that timeshare vacations are the only way to go. You, on the other hand, seem to have an axe to grind and wish to prove that we are all wrong. I predict that will will be harder for you to do than for us to convince you that timeshare's purchased on the resale market and less expensive than renting a B&B.

For instance, I have a one bedroom timeshare in Branson, MO that I purchased on E-bay for $285. That plus MF's of $245/year plus $89/year fee to I.I. plus the $169 exchange fee makes for a reasonably priced vacation if I elect to exchange that week. In our case, we bought that week to use so the numbers are $285 + $245 for one week in a 900 sq ft condo instead of a hotel room. As time goes on you can divide the original cost by the number of years we've owned. So far that would be two years and, the original MF was less or $195. So now my cost analysis looks more like this, $285 + 245 + 195 / 2 = $362.50.

Conversly if I had rented a quality hotel room I would have paid approx. $75/night (Rooms can be had for $40/night but are not quality hotel rooms). That would look like $75 X 14 nights / 2 = $525/week. I have left off the room taxes which would increase the $525 total.

So, buy purchasing this unit resale in a location we enjoy going to every year (not exchanging) the cost of the timesahre is considerably LESS than renting a hotel room PLUS I have a condo and not just a 400 sq ft. room with a bed, tv, and shower tub combination.

Now if I had purchased that unit retail from the developer, the rental cost would be looking MUCH nicer than the purchase cost. One can make an arguement either way but, making a blanket statement that my timeshare cost half as much as my house cost's you credibility.

BTW, if you don't like timeshare's, what are you doing reading a site dedicated to getting the most out of timeshare ownership? Are you secretely looking to get back into timesharing or do you have something to sell? I'm a little confused by this because I rarely vist sites about something I don't like.

And yes, I consider that first purchase a mistake. $18,900 for a two bedroom Polo Towers unit was way over priced but, I got suckered by the salesman, I thought it was a good idea as it would make me take vacations and I thought it was a good price. The only thing I was correct about was it would make me take vacations. That alone was worth the purchase price. Dad's first house was around $36,000 for a three bedroom split home in Kansas City, MO. I believe that same house now sells for $100,000 +.

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

There is a big difference in what I " PAID " for my home and the current "value " , twenty years worth. Also I have my home to myself apx. 365 days a year and any improvements I make I will get back when I sell.
to buy,use, improve, and sell for a profit = good investment.
For vacations, I like B&B.

Actually, I like B&B's too...but I have to add that our timeshare investment has been great. To begin with, we never paid more that $1000. for any of the ones we have owned...and we picked some with reasonable maintenance fees..when the fees get too high, we move on. It just works for us, planning ahead during school vacations for some lovely accomodations. As you said, it does not work for everyone. My former business partner bought a timeshare about 10 years ago, and has never used it, not to stay in, not to trade...he and his wife resist planning ahead, and it hasn't been available at the last minute when they are available. He doesn't want to sell it because he can't stand the idea of losing some of his investment. That's okay too...it's his choice. Many have laughed at us for owning timeshare...and then some of the same folks have been very grateful to get a week somewhere as a gift from us.
Different strokes for different folks...it's all good.
Connie

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

There is a big difference in what I " PAID " for my home and the current "value " , twenty years worth. Also I have my home to myself apx. 365 days a year and any improvements I make I will get back when I sell.
to buy,use, improve, and sell for a profit = good investment.
For vacations, I like B&B.

Good for you (truly) and it seems like a good fit for you, but not for everyone. Different strokes.
I own my own home, too as well as two vacation homes, however, there's a lot of work (as you know) in owning a home never mind three. I like B&Bs mostly, but I love being able to mosey into my own kitchen in my jammies/undies (try doing that in a B&B)for breakfast or a midnight snack or a glass of wine in the evening while staying in a timeshare. For example, my Allen House in London, Kensington, fantasic area. MFs are ~$700/yr. I paid $3K for it. The MFs were better when the dollar was stronger. I have rented this out, too and done well. London is my favorite city to vacation in, plus
I have my own kitchen which saves a lot as London restaurants and the weak dollar make it very expensive to dine out.
I've gotten a lot of bang for my buck from my timeshares. It has worked for me as I know how to max out my money put in.

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

Bing, for families, the only way to go is timeshares unless you want to rent condos. B&Bs will do for singles or couples if necessary but just remember that most timeshares are suited for families with kids because that's really the part of the market that needs an alternative to hotels.

Before we bought timeshares, we were already renting holiday homes which were very expensive compared to timeshares and we even did a house & car swap. When we've had to transit for a night or two, we had to book two hotel rooms, one won't do for our family. So for us timeshares is the most cost effective way to holiday.

Having said that, we don't always timeshare. In Paris, we rented someone's apartment and we even go camping but it's nice to be able to stay in a timeshare for our main family vacation.

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

We keep Bing around to keep us from getting too exhuberant about timesharing. Actually, it is a good idea to have opposing views on things or things could be very boring. I don't like B&Bs and the only one I ever stayed in was my stepson's at Moosehead Lake. I like staying in timeshares - the bigger the unit, the better I like it. The basic timeshare idea is not a cheap one- i.e. buying from the developer with no real prior knowledge of how things really work. It's easy to see how someone can think they have been scammed in many cases and be anti-timeshare for life as a result. I'm not as wild about timesharing as I was when I owned nine units, but now that I am at a more reasonable level (2) it is much more comfortable. As long as I can vacation, timesharing will be the favored method. Nothing like having the family join you in comfort for a week's (or more) vacation.

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

We keep Bing around to keep us from getting too exhuberant about timesharing.

I agree with Bing that it's not for everyone. Especially if you pay too much and could never go when or where you want. If you like city stays, often it won't suit either as there are not many in city locations, although that is improving. Also, if you need to use an exchange company, this could be a big headache to plan so far out and pay the extra fees involved.

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

I don't disagree that timesharing isn't for everyone. There are compelling reasons NOT to buy a timeshare. There are also compelling reasons to purchase a timeshare. It's just that when we exagerater the facts, we tend to lose our credibility in the discussion.

Now there are timeshares out there that cost a lot. I still can't get that $60,000 to $90,000 price tag reported for the Marriott to be built on Marco Island, FL. But, if beach front condo's are going for $2,000,000 and up then maybe it's not such a bad deal. I know on Singer Island people have purchased several Plat. weeks at Marriott's Ocean Pointe for a few reasons. #1, the cost of a beach front condo seems to be starting at $1,400,000 and that's just a studio condo. #2 these are winter "homes" and they only buy what they need. #3 no worries about upkeep, maintenance, insurance or furnishing the condo as it's all taken care of and paid for in the MF's. #4 they are flexible and people can exchange them for other locations easier than if they owned their own condo. #5 no worries about trying to rent it out when not in residence and then worrying someone might not treat your belongings as well as you do. #6 no worries about the condo association, it's fee's or that one person on the board that likes to give owners a hard time about minor things.

Timesharing is a particular fit in a vacation niche. Again, certainly not for everyone but some of us make it work very well. Personally I hate to travel any other way but, timeshares aren't everywhere.

Opposing views are great. They just need to be realistic.

[Caesar540 Junior Member Find all posts View Profile Close Caesar540]

......

Wow, alot of posts on this one.

I would like to know how anyone can compare the memership that I HAD in my sig with any other membership. This is a 20 year old membership with no negative reviews.

Go read the definition of a pyramid scheme. This is definitely not it.

I am NOT spamming every site that I can find. This is actually the only forum I have posted a sig on. I am NOT telling everyone to go and buy this membership. It was in my sig and if you wanted to click, you can click.

Many of our members are former timeshare owners and PEOPLE WHO WORKED IN THE TIMESHARE INDUSTRY. I have met members who have saved thousands of dollars, more than how much the membership costs, in only a few trips.

[M. Henley Class President Find all posts View Profile Close M. Henley]

Uh Huh...

Sure you have.

...I have met members who have saved thousands of dollars, more than how much the membership costs, in only a few trips.

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

The example I site is my own experience in timeshare ownership. NOTHING has been made up and I have not said that everyone has had the same thing happen to them. I have the figures in front of me and it is true that the t/s I used to own equals 1/2 of what I PURCHASED my current home for. I did not borrow to get in, just wrote a check.Two special assessments were a big blow! ( Salesman didn't mention that ) Fees add up quick over twenty + years seeing as how they increase each year. I think some owners loose site of this figure.
Timeshares work for a lot of people and if you are one of the group then have fun. I am NOT here to change anyone's mind on how they spend their money. I am here to make people aware that there are pitfalls in timeshare ownership that is usually exposed after the contract is signed. Don't count on a salesman to do anything other than make his/her product look wonderful and that everyone needs one or more.
Sure, buy on the second market but you must remember when I purchased there was no such thing.
The product was wrong for me and it is also wrong for others. I blame the salesman for that for misleading me. To inform is my mission. That is why I "hang around " this and other t/s sites.
This site is great for information and should and does cover the goods and bad but is one sided. I resent being made out to be one as to offer false information. All posts here is from figures over 20+ years of real life. So, I offer only realistic infomation as it applies to me!

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

Bing,
You are believed and supported (just read Tony & Sydney's posts), however, your statement of "So, don't get so high on your horse and think that everyone needs a timeshare and that they are so wonderful" is caustic. No one thinks that everyone needs one or has posted that. Some of us do think they are wonderful for our use and also because we bought them cheaply. Oh, and none of us are on a high horse. Some of us, me included, enjoy the experiences that we have had with them. They have enriched our lives by providing us with a way of travel and lodging that we have come to count on and enjoy.
It is unfortunate that you bought high and sold low. This happened to many of our members as well who believed unethical salesfolk.
Your wording of things could use some defusing, that's all. If your "mission is to inform", then do so in a more collegial manner.
B.

[nursetanya1973 Senior Member Find all posts View Profile Close nursetanya1973]

Timeshares work for a lot of people and if you are one of the group then have fun. I am NOT here to change anyone's mind on how they spend their money. I am here to make people aware that there are pitfalls in timeshare ownership that is usually exposed after the contract is signed. Don't count on a salesman to do anything other than make his/her product look wonderful and that everyone needs one or more.
Sure, buy on the second market but you must remember when I purchased there was no such thing.
The product was wrong for me and it is also wrong for others. I blame the salesman for that for misleading me. To inform is my mission. That is why I "hang around " this and other t/s sites.
This site is great for information and should and does cover the goods and bad but is one sided. I resent being made out to be one as to offer false information. All posts here is from figures over 20+ years of real life. So, I offer only realistic information as it applies to me!

You make it sound like you are here to stop us evil timeshare cultists from converting everyone. Do we not advise people looking to buy about both the good and the bad? Do we not advise people who can, to rescind and do their homework? We help people who have already purchased to make the most of what they have. We educate people in a way that no salesman or developer ever will. We are mostly one-sided, because we all came here for one reason; because of timeshares.

I keep reading your posts and picturing you standing on a street corner with a sign that says "the end is near". Nobody pays these guys very much attention because of the way they present their info.

[riverdees05 Platinum Contributor Find all posts View Profile Close riverdees05]

The best thing someone can do it join Timeshare Forums and other timeshare sites and spend 6 months learning before even thinking about buying a timeshare. I didn't do that on my first - from Developer and probably when I get ready to sell it, will be lucky to get 40% of purchase price, if I had found the TUG, I would have never purchased it. My other 9, were all purchased resale so I should be OK when I get ready to sell them, if the kids don't want them when we are to old to travel.