timeshare???
im interested in buying timeshare and they always tell you all the good and never the bad. Can anyone tell me some drawbacks to timeshare or experiences that you have had?
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Tagged with: Buying Timeshare • experiences
Filed under: Buying Timeshare
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Many people buy time-share facilites in order to exchange them for accommodations in other resort areas. They are often disappointed.
Exchangeability depends upon supply and demand. The three-primary factors involved in exchanging time-share units are:
* the desirability of the resort area
* the desirability of the time period offered
* the attractiveness and size of the accommodations
Experienced time-share owners say: "DO NOT BUY FOR EXCHANGEABILITY."
INVESTMENT AND RESALE
Many promoters paint glowing pictures of the investment potential and ease of resale of the units in their development. Responsible people in the industry, however, DO NOT promote or sell time-sharing as an investment because time-share units are usually difficult to rent or resell. This situation may change in time, but for now, because of the building boom in new time-sharing developments, markets have not been established for renting or reselling time-share units.
BUYING A TIMESHARE
Time-sharing can be an affordable way to own a vacation home. Before you buy, you should be able to answer YES to all these questions:
* Are you POSITIVE you want to spend ALL your vacations there?
*Have you visited the facility? Are you satisfied with its quality, with the stability of the management, and with the terms of the contract? Have you checked out this time-share development with the Better Business Bureau, the Attorney General’s Consumer Protection Office or your Legal Assistance Office?
*Have you talked to some long-time owners in this time-share facility?
*Can you afford both the facility and the round trip travel costs each year?
DO NOT BUY IF:
* You want to rent out the facility.
* You plan on reselling it.
* You plan on exchanging vacation sites frequently.
BUYING TIPS
BEWARE OF ANY PROMOTIONS THAT:
* Will not physically take you to the facility. (Some promoters claim the place is built when it is really only a hole in the ground.)
* Offer you a special price "for that day only."
* Subject you to a long and harrassing sales pitch.
* Will not let you take the contract home to study.
DO NOT SIGN A CONTRACT ON THE SAME DAY AS THE SALES PITCH.
If the price is fair, it will still be in effect the next day. Many people readily admit they became much smarter the day after they signed a time-share contract.
After you get the sales pitch go home, think about it for a day or so, take the time to read the contract, read it twice, be looking for fees, yearly fees, try to call the 800 numbers they give you for reservations ect, to see how the support is, timeshares can be good or bad, make sure you can trade for different sites all over the world, see what that will cost extra. Conside buying from the site buyandselltimeshares.com, it a place where people try to dump the time shares they dont want, cant afford, dont use, ect. Email me if you want a one bedroom in Cancun, I am selling mine. You can save thousands of dollars over what the sales person is selling and its the same exact timeshare, only the dont get a comission.
I have a timeshare i no longer want. i would be happy to transfer it over to you. I think there is 7 1/2 more years on payments to make. The bad is you are subject to the extra fees charged by properties like mandatory valet parking. You have to book at least a month in advance as they generally fill up quick. you are not only stuck with the monthly payments but also the maintenance(monthly). the places are always nice, but that is usually not why i go on vacation. I hope this helps. i will be glad to answer any other questions you have if you are still interested.
Don’t ever buy a timeshare new from the timeshare company. You can always get a better deal on the resale market. Don’t but it as an investment. The salespeople will try to sell you that line of bull.
See this article from Orlandosentinel.com "Resale woes leave Orlando-area time-share owners in limbo
Many sellers discover they can unload their units only at deep discounts — if at all."
http://www.orlandosentinel.com/community/news/deland/orl-timeshare1707dec17,0,7213824.story
Dont know. Think its bad.
You dont always get the time you want, locked in to a contract. and sell it it to get out of it. oh yeah and you sleep in some ones "dirty"bed.
time shares are bad
Timeshares are money saving investments not money making. The good is all the places you could travel to. The only bad thing is you really have to plan. I’ve estimated that I’ve saved more than the cost of the timeshare. I have really enjoyed having mine. I have mine with Hilton