My timeshare experience.

[njhowie]

I'm a TS newb. Am I reading some of these numbers correctly? The TS is bought up front, then maintenance fee's are charged there on?

Yes.

So for example, pay $20k for the timeshare and it costs $800 a week for maintenance every week you use it for perpetuity? For the TS owner and the other owners of the unit, that's $41,600 a year in maintenance fee's PER UNIT?!
If the maintenance fee's are ~$950 a week, and it's a 20 condo unit, then that's close to $1m in maintenance fee's for the complex.
What in the world are in these maintenance fee's?

The amount will vary depending on the timeshare. You pay your fees annually (or monthly if they offer that as a payment option). The fees cover operating budget (housekeeping, maintenance, landscaping, etc.) as well as reserves (renovations as the property ages), and then property taxes are also included.

 

[youbet]

FIL bought a TS oceanfront and sleeps 11 for $14000 per week in 1983. 7 pools and 6 tennis courts, 21 acres of coconut palms, restaurant. After 25 years, we sold all 3 weeks with only 5 years to go for $5000. It was a great experience just not a great "investment".[/QUOTE]


But what price can you put on the memories made there? That's how I rationalize it. Our kids have such great memories of those lazy, lakefront weeks.

I've heard folks say the same thing about owning a lake home, cross country road trips, cruises, extended international travel, RVing, and on and on. Is it the TS or something broader such as just getting out of the rut and doing your thing away from day to day life issues?

 

[Huston55]

Live world update today since I just booked my 30 day snowbird rental. Southern Utah town we know and enjoy villa built in 2016. 2700 sf 4 bed, including two masters one up and one down. two patios. Sitting on the 18th hole of a premier golf course with complete access to clubhouse heated pool, tennis courts et al...wifi, cable the whole nine yards.


All in cost 2768.00...or 92 dollars a day....644 dollars a week. Don't have to move my stuff, pay any maintence fees, no original OOP cost for "ownership" ...

Hmmm...sounds like The Ledges in St. George; wonderful golf town & great course!

So, I take it that you rented this NOT as a TS but, via VRBO, Airbnb or the like? Great nightly rate; what time of year?

 

[Huston55]

I was hoping your thread would give some actionable nuts and bolts info regarding how to work the timeshare system successfully.

Closest to this I’ve seen in any of these TS threads is the link in post #84, which I think is more ‘lifestyle’ oriented than ‘vacation’ oriented, per my post #87. But, these folks give quite a bit of detail on their blog and, I suspect there are links from their website to similar TS experts if you’re willing to do the research.

 

[imoldernu]

My kids are quite happy with their timeshare in Cabo... Their son and his new wife spent their honeymoon there last month, and his other kids use it for a week with their classmates. Have no idea about $$'s but seems to work for them.

If you'd like to try something a little different, you might take a look at the 1720 house... rental not TS but on the Island of Martha's vineyard.

Rooms - 1720 House Bed & Breakfast

We rented the house for a few years back in 1959,1960, when I was working there after we were married. It was then owned by the niece of William Randolph Hearst, and we rented it for $90/month. You can rent it by the room, or by the week (for the whole house) It's really nice there in July and August, and the cost for one week is only $8400.00.

 

[Retiree_Having_Fun]

I'm a TS newb. Am I reading some of these numbers correctly?
If the maintenance fee's are ~$950 a week, and it's a 20 condo unit, then that's close to $1m in maintenance fee's for the complex.

You are right.

Management would tell you that you have oversimplified and can't possibly understand - it's more like a 300 unit condo with a $30m maintenance fee (most of that being sales commissions for the first year). That's why it's normally listed as one of the worst financial decisions the average person can make.

“Oh, you signed up for one of them timeshares, eh?”
–Donkey, Shrek

 

[ivinsfan]

Hmmm...sounds like The Ledges in St. George; wonderful golf town & great course!

So, I take it that you rented this NOT as a TS but, via VRBO, Airbnb or the like? Great nightly rate; what time of year?

Could be there but quite a few golf courses are in that area don't forget Coral Canyon we don't actually golf...

 

[brucethebroker]

My DB has 3 timeshares. He hates the yearly maintenance fees and has to fly to the resorts he likes. He's locked into what he can do with points and such.

We were pressured to buy one of these with the free breakfast, I'll never go through that experience again! IMHO, I would never buy a timeshare. That was my experience.

Yeah, it was really hard work to get our "free" dinner coupon (having to listen to a 2 hour sales pitch). It made our "free steak dinner" sitting through an annuity presentation look easy.

And, no, we did not buy anything either time.

 

[SmallCityDave]

The timeshare threads I've read on this forum are only negative in that some posters share bad experiences and point out that there are risks and downsides. Immediately, others speak up with anecdotal examples of how they're partying big time for pennies thanks to their timeshare ownership. I was hoping your thread would give some actionable nuts and bolts info regarding how to work the timeshare system successfully. OK. Well, your thread is consistent with previous threads then. Folks who enjoy that type of vacation and who got excellent deals with solid, reputable companies are having positive experiences. Folks whose personal leisure time tastes change or perhaps weren't a good fit for time-sharing from the get-go, and especially if they were sold a bill of goods by a high pressure bag-dragger, are less happy.

That pretty much sum it up?

When I searched I only found 4 threads and 3 of them asking how to get rid of a TS.


No real actionable advise besides really know what you are buying, TS's are all over the map between fixed week single property to points based, multi property, multi unit size etc and with resale, private party & developer sales there are a lot of options not to mention Airbnb & VRBO.

 

[kcowan]

In the case of FILs TS which we used every year, the key benefits were:
1) Sorry I cannot commit to anything work-related during those weeks, and
2) Lifelong friendships of other people who shared some of the same weeks.

This only applies to the "same time next year" fixed time TS.

 

[Huston55]

Could be there but quite a few golf courses are in that area don't forget Coral Canyon we don't actually golf...

Bless your heart!

 

[CoolRich59]

This reminds me of a funny story DW told me. She and her late husband went to a few of these presentations. When they tried to sell them, she would say, ," Do you have any without kitchens?", The salesman said why? DW said, " I do not cook for my husband".
The salesman said, "You do not have to use the kitchen". DW said, "You do not understand, if there is a kitchen he will want me to cook for him"..
And that was then end of it, and all the perks were free.
BTW, she is a fantastic cook, and she DOES cook for me.

This made me laugh out loud.

 

[guitarguy]

My GF has had 2 TS's for years, Marriott and Wyndham. We've taken several trips on it, and the Marriott properties are very nice... but you can get the same quality for less on VRBO, AirBnB or similar sites. You can even book the same exact properties. More importantly, you have far more flexibility going that way; it seems every time we go to use it, there's some scheduling issue, or additional money required.

She recently tried to sell her Wyndham, not even one bite. She ended up just giving it back to them for free, just to stop the insane annual fees.

At one time they may have been OK, but today there's so much more competition on the Internet. Just my $.02

 

[ivinsfan]

Bless your heart!

Yes it's funny almost 40 years of milking cows seemed to eat up all possible golf playing time..we have found that premier golf areas seem to have pretty decent wintertime weather and if you go in the January/February timeframe, nice places to stay at reasonable prices..I'm not including Cali or Florida in this group. Lots to do in SGU area without golfing...

 

[Huston55]

Yes it's funny almost 40 years of milking cows seemed to eat up all possible golf playing time..we have found that premier golf areas seem to have pretty decent wintertime weather and if you go in the January/February timeframe, nice places to stay at reasonable prices..I'm not including Cali or Florida in this group. Lots to do in SGU area without golfing...

No question! It’s the gateway to several amazing national parks. I will also say that, on my visit (golf trip), everyone I encountered in SGU was super friendly.

I’m sure you’ll have a great time. Post after your vacation to let us know what you thought about the resort.

 

[ivinsfan]

No question! It’s the gateway to several amazing national parks. I will also say that, on my visit (golf trip), everyone I encountered in SGU was super friendly.

I’m sure you’ll have a great time. Post after your vacation to let us know what you thought about the resort.

Will do, we have stayed in units built by the same developer so expect everything to be nice. SGU has been our winter bolt hole for over 15 years. We started by renting a granny flat in a private home and the owners became friends of ours, stayed there for 5 years. And yes everyone is friendly. Part of it's the culture and part of it's the fact that so many people make their living off of visitors....