Why shouldn't I buy a timeshare. I'm looking at Wyndham (formerly Fairfeild). They use the point system.
I need a few good reasons not to get one. I love vacationing, at least 3 trips a year. I prefer off-peak times, and I’m not fond of US beaches, I’d like to go to Hawaii, Cancun, mountain resorts etc.
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Tagged with: beaches • Cancun • Hawaii • mountain resorts • peak times
Filed under: Buying Timeshare
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Hawaii is a U.S. beach. However if you want to keep you destinations varied, don’t get a timeshare, because you”ll just keep going back to the same place over and over again. Timeshares usually don’t work out to be a savings anyway.
I bought a Fairfield (now Wyndham) timeshare three years ago. I get the feeling you want to know both sides, not just why not, so I’ve put both:
Why not to get the timeshare:
1. Large upfront cost could be better invested – buying a timeshare is definitely not a profitable "investment."
2. Penciled it out and I don’t really get my "money’s worth" until 20 years out.
3. Limits your vacation options since you feel you should use your timeshare. Wyndham owns REI so there are a lot of options, but you have to pay an extra $150 "booking fee" and plan very far in advance to get a good one in a specific place you’d like to visit. Limits your sponaneous – "let’s just go" experience.
4. After I bought this I discovered that I could exchange my home through HomeExchange.com and there are tons of people with beautiful places willing to exchange, so if you are up for exchanging, and especially if you have a second home, you have better options with the home exchanging – plus it does not cost $ (well, a ~$60 for a listing, but very little)
5. Fairfield (Wyndham) resorts are mostly in the US (actually, I think all are) so if you are looking for mostly foriegn destinations, you’d probably be using REI a lot, and that may mean Fairfield isn’t your best option.
Why to get the timeshare:
1. If you have a tendancy not to go on vacation because you don’t have the time, it costs too much, you don’t budget for it, etc., it is a great way to "force" yourself to take a break for at least a week a year.
2. If you have a family, the resorts are very good with kids / kids activities, and allow you to meet other similar people.
3. If you like "resting" vacations where you golf, swim in the pool, read, etc., the resorts are very nice. They are also big enough you can invite other family or friends to join you.
4. You’ll probably go on more vacations than you otherwise would, thus you’ll get a lot of nice vacation memories.