Does it make sense to buy a timeshare in Vegas? Any recommendations?
I usually go at least once a year to Vegas. I probably spend 0/night on average for a hotel room.
Would it make any sense to buy a timeshare (I’ve heard they’ve come down in price).
I don’t care about the timeshare as an investment – I would plan on just keeping it for a decade or more.
Does anyone have any advice, experiences, or cost comparisons (as well as places to stay away from)?
Anything comments on the whole concept are welcome
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Tagged with: cost comparisons • decade • experiences • hotel room • Timeshare
Filed under: Buying Timeshare
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They are very cheap. Timeshares are a good way to save money and are designed for families. If you just need a place to sleep and shower then it is not right for you. I like to relax and get tired of eating out all the time on vacation, so a timeshare made sense for me.
Buying a timeshare is not the issue. It’s getting rid of it that’s the difficulty.
Although you can probably get a timeshare resale very inexpensively, the maintenance fees and possible special assessments will consistently hit your wallet every year whether you go to Vegas or not.
So, you might have to keep the thing forever, not just a decade. Just prepare yourself for those expenses that will probably increase significantly over the years.
The reason they are difficult to get rid of is because of supply and demand. There are many timeshares for sale but just a few active buyers.
Timeshare is definitely for people with NO FINANCIAL problems and when doing it for the RIGHT reasons and under the RIGHT CIRCUMSTANCES it can be a GOOD THING.
BIG "NO,NOS" IN TIMESHARE:
*If you normally spend less than $100 USD a night for accommodations then timeshare is NOT FOR YOU
*It is not a financial investment
*Don´t buy if you plan to rent it
*Don´t buy if you plan on reselling
*Don´t buy if you plan on exchanging often
*Make sure you can afford to travel at least one week a year
*NEVER BUY FROM THE DEVELOPER
THE RIGHT CIRCUMSTANCES:
*This system makes vacation home ownership possible for many people who cannot afford a second home or who otherwise would not be able to enjoy such resort facilities. Timeshare is an investment in lifestyle, in future holidays, in family time together, and when viewed that way it can be a good investment indeed.
*Get it in an area the you LOVE and that you would visit every year without a problem
*Get it in a very nice Resort (where normally people would pay at least $200 a night)
*Get it in the resale market (it would cost you less than $1000 USD) so all what you have to spend is the maintenance fee.
HERE ARE THE NUMBERS:
$200 USD a night (in a decent resort) x 6 nights = $1200 USD
Maintenance fee in a NICE RESORT x 6 nights = $700
*Maintenance in a "decent resort" x 6 nights = $400
You do your own numbers.
Oh time shares suck anywhere! You can get so many great deals in Vegas, you won’t want a timeshare there! If you’re a millionaire with time to spare, then go for it, otherwise, no, don’t, just… don’t!