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[Chief]

While in Gatlingburg, Pinkie and I attended a timeshare presentation. We've done a couple of them before so we pretty much knew what we were getting into. They are what they are and we had a couple of extra hours on Sunday to kill anyway, so we went. This one is a points based system, Wyndham Resorts (formerly Fairfield Resorts), and fits the way we travel better than the standard week-based system. We're interested, but not convinced.

Here's my question. Do any of you have timeshares? Disregarding the initial cost, assume I inherited one, is it worth the recurring costs, aka Maintenance Fees? It looks good on paper. Does it work out that well in real life?

Thanks for your time,

[RJ749]

From observing my brother and sister and their ownership, it seems they are always scrambling to use them or offering them to others.

While some or many folks may get value from the memberships, I would think a person would be just as well off to watch for sales at resorts and take a few weeks that way, when you want/where you want/a place you want.

I know how busy we all get and can't imagine planning as far out as is necessary to the most popular timeshare destinations. 

My brother often ends up going to a second choice etc. to use his points, let alone trying to coordinate the airfares for travel etc.

Oh, former bro-in-law used to sell timeshares....he sure lived in a nice house and had lots of stories about "stuffing" folks into the ownerships too.

[Chief]

From observing my brother and sister and their ownership, it seems they are always scrambling to use them or offering them to others.

While some or many folks may get value from the memberships, I would think a person would be just as well off to watch for sales at resorts and take a few weeks that way, when you want/where you want/a place you want.

I know how busy we all get and can't imagine planning as far out as is necessary to the most popular timeshare destinations. 

My brother often ends up going to a second choice etc. to use his points, let alone trying to coordinate the airfares for travel etc.

Oh, former bro-in-law used to sell timeshares....he sure lived in a nice house and had lots of stories about "stuffing" folks into the ownerships too.

What intrigued us most about the Wyndham program is the points. You buy say, 200,000 points and use them a couple of days at a time within their 140 or so resorts or associated hotels. You can always exchange them into RCI to use at any of their offererings, but being able to use less than a week at a time works better than whole weeks for us. And, they've got one in Sedona too.

Anyway, ebay is the way to go, paying about $0.05 on the dollar that the developer charges for the same deal.

[flyingwillie]

What intrigued us most about the Wyndham program is the points. You buy say, 200,000 points and use them a couple of days at a time within their 140 or so resorts or associated hotels. You can always exchange them into RCI to use at any of their offererings, but being able to use less than a week at a time works better than whole weeks for us. And, they've got one in Sedona too.

Anyway, ebay is the way to go, paying about $0.05 on the dollar that the developer charges for the same deal.

Based on your last sentence you must have listened to or read Clark Howard and his advice on buying time shares.  "Buy used"!

[Chief]

Based on your last sentence you must have listened to or read Clark Howard and his advice on buying time shares.  "Buy used"!

We got that info second hand, but yes, it was from Clark's site. If there's a cheap way to get something, he knows it!

[Hugh Janis]

I've got one in Curacao and two of my brothers' have them (mexico and Orlando).  My one brother has one he's never stayed in.  He's traded it to something else by banking the week that he has.  I can't wait to get back to Curacao in October 08.  The recurring costs are about $750 for the week.  The good news is, I have a 1,500 sq ft villa that sleeps 8 and has two balconies looking over the carribean sea.  I can sell it at any time to recover my investment or turn it back in to the resort so they can rent it and I get 75% of the rental amount.  I can also rent it myself but I'd be responsible for any damage caused by sub-letters.

The best part is that you get a resort room, not a hotel room.  I was talking with my brothers about trading into Europe or Australia.  It wouldn't cost us any more for the rooms then.  We know there'd be a kitchen, living room, two bed rooms, two bathrooms at a minimum.
Jim

[Gettinold]

Chief your better off buying a matching trailer with a pop up camper and a chit house behind your cvo. No one telling you how to do it or when to to it. 

                                     Dave

[nidan]

I have one in Hilton Head .. in retrospect I'd not buy it again although it has provided pleasent vacations.
Now that the kids are grown I'm less enamored with it, rather spend my time riding.

[Chief]

Thanks everyone. The answers you've given are all real interesting. Any more? Any horror stories?

[FR8TRN]

Chief we are part of DVC (Disney Vacation Club), it's a points based system also, we looked at Fairfield, went with Disney for the cost and the vacations we like to take and will be taking when GrandKids start rolling in.  I prefer the points based over typical time share because of the flexibility, sometimes a week isn't right for what we are doing and they also offer different size rooms, bigger = more points of course.  Like Fairfield we can trade in points for other places and go to typical timeshare resorts, but they are usually one week at a times when you do that, there are also more upscale places you can stay that are charged on a per/night basis, cruises and adventures (like an African Safari) are available as packages.  I don't think you can go wrong with either one really, Disney just provided us with more of what we wanted and planned on doing.....and they had a good deal going on at the time.

We haven't had it very long, took a cruise with them earlier this year, we were at Disney World in May and are heading back again in Oct for the Food & Wine Festival at Epcot, the place we are staying is a 5 minute walk from Epcot.  Also got a 2 BedRoom place setup for New Years, taking some family down with us.  Once we get rid of the last kid next year we'll probably start doing some of the other options available, like the many places in Europe.

If you want more information on DVC drop me a PM....

[Chief]

Chief we are part of DVC (Disney Vacation Club), it's a points based system also, we looked at Fairfield, went with Disney for the cost and the vacations we like to take and will be taking when GrandKids start rolling in.  I prefer the points based over typical time share because of the flexibility, sometimes a week isn't right for what we are doing and they also offer different size rooms, bigger = more points of course.  Like Fairfield we can trade in points for other places and go to typical timeshare resorts, but they are usually one week at a times when you do that, there are also more upscale places you can stay that are charged on a per/night basis, cruises and adventures (like an African Safari) are available as packages.  I don't think you can go wrong with either one really, Disney just provided us with more of what we wanted and planned on doing.....and they had a good deal going on at the time.

We haven't had it very long, took a cruise with them earlier this year, we were at Disney World in May and are heading back again in Oct for the Food & Wine Festival at Epcot, the place we are staying is a 5 minute walk from Epcot.  Also got a 2 BedRoom place setup for New Years, taking some family down with us.  Once we get rid of the last kid next year we'll probably start doing some of the other options available, like the many places in Europe.

If you want more information on DVC drop me a PM....

FR8TRN,

I've heard nothing but good about the DVC plans. Sounds like they are better than most.

Thanks for the info.

[Free]

I have looked at time shares over the years but never pulled the trigger.  One thing to keep in mind is that if we are head into a recession (which many believe we will), then prices will come down pretty dramatically and you may be able to find some good deals (either used or new). The other issue that always bothered me was the weekly fees that seem to go up at much higher percentages than the general inflation rate.

good luck

Free

[PMaitland]

Chief,

We bought with Marriott Vacation Club International a couple of years ago.  We actually purchased in Las Vegas (1/2 block of the main strip) but we can book our time at any Marriot resort worldwide.  Have only used Vegas so far but the wife wants to book the next one either in Aruba or Spain 
No complaints so far, typically rent a bike from Las Vegas HD & do some great riding when out there. 

http://www.vacationclub.com

[Chief]

I have looked at time shares over the years but never pulled the trigger.  One thing to keep in mind is that if we are head into a recession (which many believe we will), then prices will come down pretty dramatically and you may be able to find some good deals (either used or new). The other issue that always bothered me was the weekly fees that seem to go up at much higher percentages than the general inflation rate.

good luck

Free

That's a great point.

[FR8TRN]

FR8TRN,

I've heard nothing but good about the DVC plans. Sounds like they are better than most.

Thanks for the info.

Yeah alot of folks see Disney and think....Oh I don't wanna be stuck going to Disney Parks for every vacation, but thats not the case, they also own Resorts in Hilton Head and Vero Beach with more coming, and you can stay at any of 500 other places around the world.  For my wife, with the rose colored glasses of grandkids in the future, taking the Grandkids to Disney will be top on her list of spoiling them.