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Old 09-06-2016, 05:09 PM   #21
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The number of people who are able to get true "value" from their timeshares is probably the same number/percent of actively-managed fund managers who can beat their respective indexes over a 10-year+ period. Can it happen? Sure it can, if you are really on your A-game and do research and maximize the benefit. But is it likely?
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Old 09-06-2016, 06:14 PM   #22
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Ugh- Don't do it! I tried to talk my parents out of buying one- did a spread sheet showing them how much its going to cost- etc, etc. They bought it anyway. The fees have gone up quite a bit since then, and I suspect they're sorry they did it, but don't want to admit it. One of my siblings might want it, but I sure don't.
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Old 09-06-2016, 06:32 PM   #23
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Originally Posted by MooreBonds View Post
The number of people who are able to get true "value" from their timeshares is probably the same number/percent of actively-managed fund managers who can beat their respective indexes over a 10-year+ period. Can it happen? Sure it can, if you are really on your A-game and do research and maximize the benefit. But is it likely?
Its a lot easier than beating indexes and than again "value" is a bit subjective. Can you rent ... yes but you will vacation much more if you see a getaway on interval international for a weeks stay that is only $200 at a 4-5 star Marriott resort. Would you rent the same week for $1000 or $2000, maybe but probably not.

Lots of people buy full retail and will never see value, but if you spend $1 for a timeshare and pay the annual $700 maintenance fee you can purchase as many getaways as you want that is what the folks do that are in my other post, they could never do it at that cost renting.
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Old 09-06-2016, 06:50 PM   #24
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I recall once being away on a business trip when DW was away on a jaunt to the Bahamas with a friend and DW called and was all hot about buying a time share. I told her not to do it but to bring the materials home and we would look into it. I got home and she had bought it.

Anywho, we were able to get out of it eventually with little damage. I have no use for them though BIL and another friend have them and seem happy with them. Not for me.
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Old 09-06-2016, 07:31 PM   #25
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Do NOT buy one.
You can rent one often cheaper than the yearly fee from Timeshare Users Group - The first and largest online community of timeshare owners providing timeshare resort reviews, timeshare ratings, FREE timeshare advice and FREE Timeshare Classified ads!

I rented a week on the Vegas Strip beside the Bellagio (the one with fountains) for about $300 when just Sat night at Bellagio was $500.


I bought one on E-bay and we did use it for years, but I found I could not sell it or even give it away. I basically bought an obligation to pay the maintenance fee that I had zero control over (including paying for people who just stopped paying).
The fee went up quite a lot each year.
Finally I was able to turn it back to the resort by paying a fee of $250.

If you are not convinced, at least buy or get one free from Tug2.net or e-bay.
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Old 09-06-2016, 07:59 PM   #26
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I bought one on E-bay and we did use it for years, but I found I could not sell it or even give it away. I basically bought an obligation to pay the maintenance fee that I had zero control over (including paying for people who just stopped paying).
The fee went up quite a lot each year.
Finally I was able to turn it back to the resort by paying a fee of $250.
I think this is one of the key issues. When you no longer want to be bothered with it you will still be getting that annual maintenance fee bill. How do you get rid of it. Some of the places will buy it back, some won't. It's like owning a piece of property that you can't sell or even give away.

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Old 09-06-2016, 08:35 PM   #27
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That's too funny. You have to pay to get rid of it, can't even give it away.

I remember these things from the "free dinner" nights they sponsored. Amazing.
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Old 09-06-2016, 09:16 PM   #28
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Do NOT buy one.
You can rent one often cheaper than the yearly fee from Timeshare Users Group - The first and largest online community of timeshare owners providing timeshare resort reviews, timeshare ratings, FREE timeshare advice and FREE Timeshare Classified ads!

I rented a week on the Vegas Strip beside the Bellagio (the one with fountains) for about $300 when just Sat night at Bellagio was $500.


I bought one on E-bay and we did use it for years, but I found I could not sell it or even give it away. I basically bought an obligation to pay the maintenance fee that I had zero control over (including paying for people who just stopped paying).
The fee went up quite a lot each year.
Finally I was able to turn it back to the resort by paying a fee of $250.

If you are not convinced, at least buy or get one free from Tug2.net or e-bay.
Do I understand you are comparing the old Jockey Club to the Bellagio? I would rather pay $500 for Saturday night at the Bellagio than $300 a week next door! Sorry, just being honest. However, little known fact that timeshare gets access to the Cosmo pools as part of their agreement when Cosmo was built. Or at least as of a couple years ago that was the deal. That would improve the value immensely for sure... but still would rather stay at Bellagio.
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Old 09-06-2016, 09:51 PM   #29
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Very bad idea. If you must buy, you can go to EBay and buy one for practically nothing. Many owners are desperate to dump theirs.
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Old 09-06-2016, 09:58 PM   #30
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I remember the "jockey club", I used to get "free 3 days" all the time from them when I lived in So Cal.

I'd rather pay $500 a night and not have to walk. Might fall down and hurt myself after drinking too much.

Besides, 3 days is all I can take of that debauchery -
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Old 09-06-2016, 11:44 PM   #31
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Do I understand you are comparing the old Jockey Club to the Bellagio? I would rather pay $500 for Saturday night at the Bellagio than $300 a week next door! Sorry, just being honest. However, little known fact that timeshare gets access to the Cosmo pools as part of their agreement when Cosmo was built. Or at least as of a couple years ago that was the deal. That would improve the value immensely for sure... but still would rather stay at Bellagio.
Yes I think it was It was my first time to Vegas and the Bellagio would have been about $1,400 for the week, so this was a good deal.
I also did go visit the Grand Canyon overnight, because my week rent was so cheap I didn't feel bad leaving it empty 1 night.
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Old 09-07-2016, 11:19 PM   #32
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Interesting posts, thank you all. Sounds like buying on resale market would be the way to go, if we even want to consider it. We tend to vacation in remote and somewhat exotic places that don't have Hiltons or Marriotts or any big hotel chains so it might not fit our travel preferences anyway. However we are soon to RE so will have more time to travel and will likely do more US travel.


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Old 09-08-2016, 05:19 AM   #33
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We have one that the DW bought prior to our marriage. The unit is on the corner of Canal and Decatur in New Orleans, which is a great location.
Great place! We stayed there once
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Old 09-08-2016, 05:23 AM   #34
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ABSOLUTELY DO NOT BUY! Unless you want to buy my parents two places

The maintenance fees are constantly going up, and there is no controls at all. My parents are trying to get rid of theirs which sets up the next series of scams for people to work them over. It's a disaster, and it is a constant sore point of family discussions
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Old 09-08-2016, 09:51 AM   #35
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A QUESTION: If you buy a one-week timeshare in Florida, can you claim residency for state tax purpose?
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Old 09-08-2016, 10:37 AM   #36
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flyingaway: I'm too lazy to read this: Flsenate Archive: Statutes & Constitution > View Statutes
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Old 09-08-2016, 05:51 PM   #37
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A QUESTION: If you buy a one-week timeshare in Florida, can you claim residency for state tax purpose?
no.
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Old 09-08-2016, 07:24 PM   #38
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A QUESTION: If you buy a one-week timeshare in Florida, can you claim residency for state tax purpose?
You are joking, right?
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Old 09-08-2016, 07:38 PM   #39
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A QUESTION: If you buy a one-week timeshare in Florida, can you claim residency for state tax purpose?
Yes, you can claim to be a Florida resident even without a timeshare.
You would be breaking the law and might owe a hefty fine and potentially other penalties if caught. And the states are often quite aggressive about getting what they consider to be theirs.
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Old 09-08-2016, 07:49 PM   #40
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I am not joking. Somewhere there were discussions about travelling around the world slowly and maintaining a house in the U.S. I was thinking that it may be possible to have a timeshare in a state of the U.S. and claim the residency there and come back once in a year.
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