[quote=Downtowner]Ok, first never think of a timeshare as a “real estate” investment. You are actually investing in “vacation time” – What you are actually doing is somewhat fixing your vacation lodging costs over time. You are saying I want a certain level of accommodations (not a hotel) that I can expect every year and I pay a relatively fix cost (maintenance fee) each year and I can exchange for a different location if I want to (and pay a fee for that).
2nd – never ever buy a timeshare from a developer! You can get them at a fraction of the cost in the resale market. I own 2 and did not pay a dime for either of them. That’s right you can find many timeshares that all you need to do is transfer ownership and start paying the annual maintenance fees and it’s yours.
Anyway, timeshares can be great if your expectations are just about an annual vacation, if you start thinking you will get some type of ROI (other than vacation enjoyment) you will be disappointed.[/quote]
BINGO! That’s exactly right. I was going to mention the investing in “vacation time” as that is how I look at timeshares as well. I think the people that look at it that way vs. a “real estate investment” can come out ahead.
There are TONS of time share schemes but I know a few people that seem happy with their time shares with Marriott’s program. They don’t look at it as an investment but simply prepaying vacation lodging for the next 20+ years. They apparently can use many many Marriott properties all around the world and do.
Downtowner nailed it again when he/she mentioned that there are lots of people that you can find these either free or low cost because they simply want out of the obligations of HOA, expenses or heavy assessments. Heck, even just surf around on travel related sites like TripAdvisor and you will find people that want to give up their timeshares and feel burned.
I totally agree with Downtowner you have to understand the fundamental “investment” of a time share.
[quote=UCGal]I’m a big fan of renting other people’s timeshares – often for about the cost of the annual maintenance on their time share. There’s a resort in cabo I’ve been to a few times that I like to rent at.
Like ER – I use homeshares, VRBO, but also look at timeshares – since I prefer a place with a kitchen and separate bedroom (when travelling with kids.)
Timeshares commit you to the same place and/or the same family of timeshares for the same week, every year. Might work if you have a fixed vacation – but it’s too inflexible for me.[/quote]
Oh yeah. I totally agree with you UCGal. We’ve rented other people’s timeshares before for fairly low cost but that was before we really got into the Home Exchanges. Since then we really haven’t as the home exchanges work so well.
There are more choices than ever for people that travel and don’t want or can’t rent a hotel room because of the space, lack of kitchen, washing machine/dryers, etc. VRBO, Homeaway, Flipkey, AirBnb. So many options these days.
