Note:
I had a huge number of visitors to my website from:
http://www.fatwallet.com/forums/mess...hreadid=366032
So I posted the following in that thread. I am posting this here so that I can update my timeshare page to include some of these thoughts when I get a chance....
Greetings all... I am new here as I found you all because several of you visited my website from a link above...
http://www.quarterbore.com/timeshare/
My father got us into timeshares back in the 1980s and his first was purchased through the sales pitch. It is a great unit and my father has used the unit every year and gone to more resorts then I could ever try to list BUT it was expensive! My father learned his lesson and purchased a second week from an owner that just wanted out and it was very obvious that this second hand timeshare had the same tradability and usefulness as his (Est $18,000) timeshare he bought in the mid 1980s but he paid a more modest $3K for the second week.
My website as linked above is slightly dated as we now own two timeshare weeks. We still own the Killington week in February, which is our annual ski vacation, plus we purchased a second week in the Pocono’s for the end of the summer. Both of these units were purchased from individuals even though our second week was found through a realtor. We paid $5500 for the Killington week, which was an extreme deal, and about $3500 for the Pocono’s week. These are deeded properties with fixed weeks and they have adequate room and facilities for my family and with three kids we would never want to have to stay a week in a motel somewhere!
In my honest opinion, timeshares are a great way to vacation but there are a few things that need to be considered before you buy.
First, How do you like to vacation?
If you like to travel and see various parts of the country timeshares can still be a good deal. The trick with this is that you need to purchase a timeshare that has a solid trade value so that people will want to trade for your unit so that you can go where you want. You also need to be flexible on where you go and you need to be prepared to plan your vacation a LONG time in advance. This increases your chances in getting the kind of place you want in the area you want.
Now, the other type of vacation is one that you buy with the primary goal of going the same place every year. Both of our timeshares are this type as we know that in the middle of February that there will be plenty of snow to Ski in Killington Vermont and that at the end of August would be a great time to get away with the kids before school starts again. Our August vacation in the Pocono’s is at a resort with tons of activities for the kids and it close to lots of other activities as well.
I will also advise that in my experience it has been easy for us to simply rent a week off eBay in an area that we want to vacation and in fact it has worked better for us then trying to deal with RCA or II to trade. Instead, what we have done is to rent a week we want and then rent our own timeshare out as this way you can control where you will get better and you will get the best return on your own unit... It works for us! In fact, we do not subscribe to RCA or II for either of our timeshares...
Second, WHERE TO BUY
This has been mentioned above but the sales center at a resort can be the worst place to buy. The best place is from owners that are tired of paying maintenance fees and just want out. Newspapers, TUG, auctions, and lots of other places have timeshares for sale. The trick is having the patience to find the right week at the right price. Those that spend the time and search smart can save a lot of money while those that get caught up in a sales pitch will end up paying some salesman the down payment for their next sports car...
I guess that is enough from NEWBEE me
Well, I think I need to update my own webpage to include my ramblings here... I want to thank you all for visiting my little website and I will try to look at more of what is here when I get a chance. I just wanted to say that timeshares are not a bad deal BUT you need to think before you buy and NEVER buy based on the sales pitch unless you have an extra $10K or more to toss in the trash as you can save that amount or more by doing your homework before you buy!
Linear Mode
