Yes….we own a timeshare. In my defense, everyone, at some point in their life, makes a bad decision, right? *sigh*
This. Was. Ours!!
While there are always going to be various opinions on these, personally, I would give ANYTHING if we had NOT bought it.
Unfortunately….we did. Since we have it, we’ve made the decision to make the most of our unfortunate circumstance and just use it. I mean seriously….they’re GOING to keep wanting their money every year….we might as well find some value in that expense.
Why are Timeshare a Bad Idea (imho)?
The Timeshare Maintenance Fees!! No matter how many times they tell you these won’t go up unless owners vote to increase it, that’s just not true. They go up every! single! year!! Guess What? We’re not the one voting….it’s voted on by the Board of Directors and they find themselves struggling with a very difficult question….
Do they want more of our money? hmmmm…….Guess how they answer that one….
Yes, the Timeshare condo/apartment set up for vacations is GREAT!!! Having separate rooms, larger bathrooms (sometimes 2) and a full kitchen and dining room table…possibly a washer/dryer or Jacuzzi, make vacationing MUCH easier…..not to mention more luxurious. However, it’s not necessary to purchase a timeshare (or pay the annual maintenance fees) to get these types of accommodations. You can stay in accommodations like this through VRBO or their sister company Home Away (and there are others too) for about the same cost as annual maintenance fees…. BUT, with these rentals, you only pay when you use it. If you don’t vacation for a year…or vacation in an area without timeshare properties (National Parks for example) or decide to take a cruise, you don’t pay for it. With timeshare, you pay every year whether you use it or not. For more information on VRBO et al check out Finding Affordable Accommodations Part 2
How can OUR mistakes help you? TUG (Timeshare User’s Group) https://tug2.com/timeshare-classifieds/ is a site where time share owners rent out their weeks. There is a $15 membership fee to be able to use their site/rent/buy, etc… Just fyi…. 🙂 Searching by week number may be eaiser,(wk 1-52 beginning Jan. 1) though some ads list actual dates. Now, these timeshare rentals won’t be “steals”, but they will be below market rates for nice accommodations with kitchens, bedrooms, and various amenities.
Expect it: 🙂 If you’re staying in a Timeshare condo, you’ll be invited to a Timeshare sales presentation…… (this doesn’t happen at VRBO rentals – just fyi) Of course, you can say “no”…They might pressure you, but you’re under no obligation. Just don’t be shocked when the “invitation” comes.
I’ve written a post Surviving a Time Share Presentation (with Your Wallet Intact) to let others know that these Timeshare Sales Presentations are not scams to be avoided as long as you know HOW to not get duped. While they can be irritating…time consuming and a host of other things you might not want to deal with on your vacation, they are NOT scams.
In the meantime….
If after all this, you still want to buy a Timeshare: Go to TUG again: https://tug2.com/timeshare-classifieds/ As mentioned above, this is a reputable site that has been around for 25+ years. (there are many scams in timeshare RESELL) These are those same timeshare owners who are trying to rent their weeks – but in THIS section of the website, they’re trying to sell the whole stinkin’ thing!! These owners list these for as low as $1 !! (sometimes as low as 1¢) Why? They just want to get rid of their timeshare condo for ANY price, because they know that with the timeshare comes the annual maintenance fees. If you really want to buy one, at least, buy it on TUG… NOTE: Prices range from $1 – $5000. Those listed for more can typically be used 52 wks a year. TIP: If you’re going to buy one of these, that’s a better choice than a fixed week…imho. 🙂 Just don’t pay $10,000 …..$20,000……$30,000 for something you can buy on TUG for $500!!!
Bottom Line: Buying a timeshare is RARELY a good decision unless you have more money than you know what to do with. Instead, travel in these condos by renting from owners. BUT….If you must buy, at least buy for $1 instead of $25,000.
…and that’s my ‘take’ on TimeShares.
Update to this Post: We were FINALLY able to get rid of our Timeshare. We turned it back to the company & PAID THEM $250. I would have GLADLY sold it to anyone for .01. We would have saved $250…and MADE a penny!! 🙂
Our Experience: Can You Get Rid of a Timeshare?
- Surviving a Time Share Presentation (with Your Wallet Intact)
- Security & Anti-Theft Bags for Travel
- 13 Questions First Time Cruisers Ask
- Getting the BEST Deal on Airfare – A Tale of Two Flights
- Visiting Hoover Dam