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Thread: PLEASE help.... buying a timeshare for the first time. need honest advice

  1. #11
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Being stuck with something you can't use but have to keep paying for seems like a good reason to discourage others.

    My point about renting has nothing to do with the economy, it has to do with the ready availability of vacation rentals on the Internet, something that did not exist when many of us bought our timeshares. Only in the most peak of seasons in locations where demand totally overwhelms supply is renting not a good idea, and, because it is a one-and-done deal, in those cases it is not a bad idea. There is no more flexibility and no more larger selection than renting vacation accommodations. Even Wyndham knows that and is heavy into it.

    Far more people rent than own timeshares, and owning is not the economic advantage it once was, or was predicted to be.

    What would be great is to not own, not owe any annual fee, but just rent from RCI on their $299/week deals, when they're trying to unload their excess inventory.

    Don't rely just on the advice of people who own timeshares, on a forum designed for timeshare lovers. Maybe google something like "should I buy a timeshare?"

    But, what the hey, if, in the final analysis, you want to be locked into an annual maintenance fee for something that is readily available without one, go for it. If that's the case, you can likely get one for free at a desirable resort from owners that are done with theirs.

    Feel free to PM me for advice on doing that.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  2. #12
    You cannot rent and get exactly what you want when you want it very often. Right now timeshares are easy to rent, but that will not always be the case. As the economy continues to improve, rental prices will increase to beyond the cost of the annual fees at desirable times and locations.
    We've not gotten there yet with any but a very small handful of exceptions (DVC, a few choice Marriotts, etc.) If and when we do get there, one could always re-evaluate.

    Those who say no to ownership are those who can't give the timeshares they own away.
    Nonsense. I own three timeshares, love them, and get a lot of use out of them. I just got back from a wonderful week at Arroyo Roble in Sedona---loved it. I have no desire to divest myself of them, but I do not expect them to be difficult to sell when the time comes. My advice to the OP to rent isn't based solely on the economics of renting or the difficulty of exit. It is also due to the OP's particular life situation. In a different life situation, I might advise the OP differently.

  3. #13
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Last edited by JLB; 07-07-2014 at 05:50 PM.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  4. #14
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    I agree with renting for now. You can often rent for less cost than the annual maintenance fees. That way you can get a better idea of what you want in a timeshare and location before you are obligated to paying the annual fees.

    I have found the best way to find rentals is simply do a search for "timeshare rentals desired location ( ie San Diego CA )". My favorite web site for timeshare rentals is "MyResortNetwork.com".

    http://www.myresortnetwork.com/
    John

  5. #15
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    I'm curious.

    At what age or life status would "rent first to see if it's for you" be replaced by, "just go ahead and buy a timeshare."

    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  6. #16
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Quote Originally Posted by ryandunahoe View Post
    any advice is highly valued thank you so much.
    Don't use your real name on the Internet.

    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  7. #17
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    Quote Originally Posted by JLB View Post
    I'm curious.

    At what age or life status would "rent first to see if it's for you" be replaced by, "just go ahead and buy a timeshare."

    Depends on the individual. Maybe never.
    John

  8. #18
    Being in the Military you already have a fabulous Timeshare!

    Timeshares are not an investment. You are 21 in the Military, your income is not able to support a timeshare. I am not putting you down at all. I thank you for your service!


    http://www.halekoa.com/?view=featured

    http://en.wikipedia.org/wiki/Armed_F...reation_Center

    You can also stay at the most fabulous beach location in the WORLD! You can stay just south of the NAPALI COAST on the great island of Kauai! Not even one of use big time timeshare owners here can boast that resort on their sleeve.

    http://www.tripadvisor.com/Hotel_Rev...ai_Hawaii.html






    Quote Originally Posted by ryandunahoe View Post
    Im 21 years old in active duty military. im wanting to invest in a timeshare for several reasons.

    1. im given 2weeks in summer off and 2 weeks during christmas and would love to take my wife to place that is nice and something that friends can go to and meet.. ect in short for relaxing with the wife..

    2. i dont own a house and i feel that owning a time share would be something THAT is MINE, and the possiblity about making money off of it. (i dont know much about it so any advice would be welcomed)

    Any tips for getting a time share for the first time would be great.
    should i buy through resort? or ebay? or others?

    about how much cash should i be ready to put down on a timeshare?

    any advice is highly valued thank you so much.
    Flying at MACH4 +

  9. #19
    Quote Originally Posted by ryandunahoe View Post
    Im 21 years old in active duty military. im wanting to invest in a timeshare for several reasons.

    1. im given 2weeks in summer off and 2 weeks during christmas and would love to take my wife to place that is nice and something that friends can go to and meet.. ect in short for relaxing with the wife..

    2. i dont own a house and i feel that owning a time share would be something THAT is MINE, and the possiblity about making money off of it. (i dont know much about it so any advice would be welcomed)

    Any tips for getting a time share for the first time would be great.
    should i buy through resort? or ebay? or others?

    about how much cash should i be ready to put down on a timeshare?

    any advice is highly valued thank you so much.
    Please do not buy a timeshare. First, you seem very certain you can get "given 2weeks in summer off and 2 weeks during christmas," that is not the military that I was in for 21 years. You're going to be very disappointed in the timeshare based on the fact that you don't know when you'll be given the time off and timeshares take advance planning unless you're satisfied with whatever's left when you can commit to annual planning.

    If you can't buy it outright, you shouldn't even be considering buying a timeshare. If you can't make the annual payments w/o riding it on your credit card, you shouldn't even be considering buying a timeshare.

    There's lots of rental bargains out there, you've found TS4Ms and you can find them, you'll be much happier. I bought my first timeshare when I had 20 years in the military.
    ... not enough time for all the timeshares

  10. #20
    At 21 I would advise against buying a time share. At 35 I would still advise against buying a time share.

    My advise is when you do purchase a time share buy into a system that has more than one resort location with the ability to use all of the locations with out trading. Worldmark is this type of system. Worldmark is a decent trader with a low maintenance fee.

    Until then use the web to get deals on places that interest you. I used to purchase trips off www.skyauction.com www.pleasantholidays.com , not so much anymore.

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