I like to travel but buying into a timeshare gets you stuck to one location. How can I avoid that?
I have looked at RCI and WorldMark by Wyndham to be able to have access to nice vacation facilities through out the world.
Are there any other options like this?
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- Is buying a timeshare worth it? The annual fees equal $500, so about the cost of a cheap hotel anyway?
Tagged with: Buying Timeshare • RCI • Timeshare info • worldmark by wyndham
Filed under: Buying Timeshare • Timeshare exchange
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Hilton Grand Vacations Club.
You do not get stuck in one location. In fact, it is very easy to go to different locations. I have my home resort in Vegas, but have used them in Hawaii and Orlando. Home resort is just the resort you are paying for. You never actually have to use it. I would recommend buying in Vegas as they seem to be the cheapest cost now. Hawaii was offered to us at 35k for 1 week per year, whereas Vegas is 12k and we are able to use several places. Also maintenance is cheaper in Nevada than hawaii
If you decide to buy a timeshare it is very important that you purchase it in a location that you would love to go every year, this is in case (witch that’s the case) that you can’t exchange it for what you really want. So if you love Vegas….
About traveling to other destinations besides your "home resort" don’t worry to much about it because you will get "bonus" weeks that you can purchase at avery discounted prices (often times cheaper than your maintenance fee) and those are not exchanges so if you see it you get it, and best of all since they are not exchanges you don’t have to pay the "exchange fee", isn’t it nice?
But here is the real deal about purchasing a timeshare:
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