DH & I like to stay at "off the beaten path" smaller resorts or private homes (vrbo or airbnb), so timeshares haven't appealed to us. We have two friends who love their timeshares. Both got for a relatively small amount many years ago and both like to return to the same place every year.
Why do people buy timeshares?
- Thread starter Philliefan33
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gayl
Thinks s/he gets paid by the post
brother-in-law (finance) bought into one where it could be used anywhere. Except the annual fee was approximately the same amount that it costs to rent a hotel room in the same building. He definitely loses out on the exchange. A few years later he does not even use it but is still stuck. Even if you only get $1 for the obligation it's better than being stuck with the annual fees
So timeshares are the same as annuities:
- They are not bought, they are sold.
- They are good for some but not for most.
donheff
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Something like this is about the only thing that makes sense to me. DW has a friend that bought a timeshare on Sannibel Island decades ago. They knew they wanted to go every year and do. The costs have worked for them. But the few others I know who bought them have quickly soured and taken a bath unloading them. From their experiences I would assume that if you really find the concept interesting you should force yourself to back off from the marketing pitch and look into the aftermarket options for the area like lwp did.
Senator
Thinks s/he gets paid by the post
They buy them because the maintenance fees are mostly hidden. And the sales people are usually that good. And people do not know their options.
I used to sell timeshares in college. I had a real estate license and I was the guy who met three couples in a local restaurant and talked them into driving the 3+ hours to see the actual resort.
About 25% of my people would head up there, and about 25% of those would buy. I made ~$250 a week or so, depending on what they bought.
The best part of the job was I got fed a great meal, four times a week. And no dishes to wash.
I used to sell timeshares in college. I had a real estate license and I was the guy who met three couples in a local restaurant and talked them into driving the 3+ hours to see the actual resort.
About 25% of my people would head up there, and about 25% of those would buy. I made ~$250 a week or so, depending on what they bought.
The best part of the job was I got fed a great meal, four times a week. And no dishes to wash.
My hunch as well why it works.
"We have a house in Hawaii" sounds cool, especially if you cannot afford an actual house in Hawaii.
OK I'M IN FULL CONFESSION.
I love my disney timeshare!!! I will sell the kids before selling the timeshare. I own enough points to go to 7 nights a year. My home resort is Beach Club villas which is one of the best ones on site (lol take that opinion with a grain of salt)
so here goes my reasoning.
#1. I didn't buy the timeshare to trade it. I go to disney at least once a year. if "trading" is an attractive option than time share owner ship is not for you.
#2 If you are a budget travel, timeshare options are not for you. Yes, we are LBYM type of people except for travel. everyone needs a vice. lol, sorry I'm stabbing someone if they suggest I sleep in a motel 8 and credit card points or not, I am not spending 9 hours on a plane to be squashed up like a sardine. translation, I'm dropping 3K on first class.
timeshares usually work out cheaper if you stay in deluxe accomadation.
#3. long term. the cost of the timeshares decreases as years go by. we purchased ours in 2001. we calculated that after the 16th one week trip we would have saved the purchase price. I think next year (I've got 2 trips on tap) we'll be on our 30th visit.
#4 nicer accommodations. We stay in a two bedroom villa. it's spoiled us. maybe because all my sons and my late hubby were over 6ft tall and average 210 lbs. the only thing that would happen if you tried to squeeze us into a hotel room is that a homicide would occur to get the extra space.
I love my disney timeshare!!! I will sell the kids before selling the timeshare. I own enough points to go to 7 nights a year. My home resort is Beach Club villas which is one of the best ones on site (lol take that opinion with a grain of salt)
so here goes my reasoning.
#1. I didn't buy the timeshare to trade it. I go to disney at least once a year. if "trading" is an attractive option than time share owner ship is not for you.
#2 If you are a budget travel, timeshare options are not for you. Yes, we are LBYM type of people except for travel. everyone needs a vice. lol, sorry I'm stabbing someone if they suggest I sleep in a motel 8 and credit card points or not, I am not spending 9 hours on a plane to be squashed up like a sardine. translation, I'm dropping 3K on first class.
timeshares usually work out cheaper if you stay in deluxe accomadation.
#3. long term. the cost of the timeshares decreases as years go by. we purchased ours in 2001. we calculated that after the 16th one week trip we would have saved the purchase price. I think next year (I've got 2 trips on tap) we'll be on our 30th visit.
#4 nicer accommodations. We stay in a two bedroom villa. it's spoiled us. maybe because all my sons and my late hubby were over 6ft tall and average 210 lbs. the only thing that would happen if you tried to squeeze us into a hotel room is that a homicide would occur to get the extra space.
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Where are you guys staying (another Disney fanatic so excuse me if that's rude)? lol
I'm going for 4 days October 13-16. staying at Kadandi Village at AKL. it will be my first time so I'm excited. got savanna view also.
Nemo2
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On the other hand, (said Captain Hook), there might be those, (Heaven forfend that I be considered among them
), who feel that anyone over the age of nine, (who isn't accompanying someone under the age of nine), visiting Disney is somewhat...ummm....eccentric. Timeshares have zero appeal for me. However, four years ago we did go to a timeshare presentation to get a hotel night, week of parking while we were on a cruise, and a small gift card. Really when I found the offer, I thought this is too good to be true...get all this for attending a presentation for a couple of hours. I told DH ....hey, if it is too bad we can get in our car and go somewhere else. Well, it worked out fine. We received what was promised and the sales pitch was not extremely high pressure. We were upfront from the beginning that we were only there for the freebies. We were pleasant to the salesman and he was pleasant to us. I did ask what percentage ended up buying and was told 25%. I was interested to see that Sunset reported the same percentage. That is a far higher percentage than I would have guessed. Of course, again, zero appeal to me.
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It was Senator who said 25%
Makes them feel rich and special? Huh? My guess is it's the only way they can get some piece of recreational property. Many buy multiple weeks. I inherited one from my DW's late husband. He didn't get to travel much so this was his way to enjoy a week a year. I personally don't like the investment at all but I'd stop short of calling him an idiot (rest his soul). We've tried to dump multiple times
Moemg
Gone but not forgotten
Years ago We bought a timeshare off market for$1000.We used it every summer for a family vacation when the children were younger . The maintenance was $250 .It was a large resort with a lake and lots of activities for everybody .It was only for 12 years and then we could renew if We wanted . We never renewed so financially it was a good deal for a three bedroom villa.
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
+1
My experience which is limited, certainly finds that timeshares are much nicer accommodation than a hotel room.
Most have been much larger, with separate bedroom from the living-room area, and I like having a kitchen available, so I don't have to go to a restaurant for breakfast.
Blue Collar Guy
Thinks s/he gets paid by the post
You sure your not a New Yorker?! LOL Awesome post, I smiled and laughed at some of the lines. And ty, your timeshare was a good deal for you. P.S. what about the free rainbow cookie?
Blue Collar Guy
Thinks s/he gets paid by the post
Senator, By any chance did you buy one?
On the other hand, (said Captain Hook), there might be those, (Heaven forfend that I be considered among them
To each his own of course, but I'm amazed by the number of adults I've run into who go to Disney World multiple times a year with no kids involved. Has to be at least 10 or more who admitted it in csual conversation. My inlaws had a yearly pass when they lived in Fla.
I agree with this. I attended 2 different timeshare sales pitches, many years ago. Gotta confess, while there it sure looked attractive and worthwhile (both were Marriott pitches). But once I left and crunched the numbers, the allure faded. As best as I could figure out, financially the break-even point was NO LESS than some 30 years.
So, I knew financially it wasn't a good deal. And the hassle of those annual fees and feeling obligated to use it each year (or additional hassle of trading/selling it in a given year) made saying No quite easy for me.
Nemo2
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In 1966, after driving down the East Coast, through Texas, and down to Manzanillo, Mexico, three of us found ourselves in Anaheim, so dropped into Disneyland for a while......then, in the early 1970s, my first wife & I were around Tampa, had a rental car and sunburns...so drove to Orlando. Stayed for a couple hours....went back to the gulf.
Never returned to either locale...never will.
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LolOn the other hand, (said Captain Hook), there might be those, (Heaven forfend that I be considered among them
Dude I left eccentric in the rear view mirror a looong time ago. [emoji2]
What can I say it's my "happy" place
I liken it to motorcycles, you either like it or you don't
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MooreBonds
Thinks s/he gets paid by the post
I'm sure, as some have pointed out, the allure is strong of "Oh, we have a place/timeshare in [insert desirable vacation destination]", which offers some form of landed aristocracy feel.
But, on the other hand, the pure concept of a timeshare DOES make sense - have partial ownership locked in, have points you can exchange for other properties so you're not tied down to one place, don't have the insurance/maintenance/upkeep/hassle of having a second (or third) home, have the same place locked in each year so you don't have to go to a different place, you can leave the property to your kids/grandkids in a will.
The part that DOES NOT make sense are the actual costs that are offered by the timeshare company.
As with most high pressure sales tactics, they will do a song and a dance, tag team out sales people, circle one point in a red circle on the paper to get you to focus on that, try to compare apples to oranges, use simple math to twist a point around ("you're GOING to spend money on hotel rooms for each vacation, aren't you? Why not buy a timeshare and get a DISCOUNT on those room rates?")...and the sure-fire, age-old sign that you are getting hoodwinked: withhold all other relevant info (like a catalog to see what those 4,000 points will actually buy at other properties) and force you to make a decision on the spur of the moment without having the ability to evaluate it when you aren't being bombarded by these half-truths and apple-to-oranges comparisons.
My (then girlfriend, now wife) and I were in Las Vegas almost 2 years ago and sat in on one at the Polo Club towers for a $100 gift card. The sales guy finally threw in the towel when we both demanded to see the catalog to see what those thousands of points would actually trade for at another property/week. We were told "No, you get that catalog AFTER you buy the timeshare."
Really?
Most people that fall for it aren't sharp enough at math or at comparisons to see the smoke and mirror maneuvers they pull to confuse you, and try to make you see their pig-with-lipstick appear instead as a fashion runway model. Perhaps another sign/symptom of those who are swayed by sound byte headlines of a few words, rather than stopping to actually think about the story and critically evaluate the facts.
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Blue Collar Guy
Thinks s/he gets paid by the post
The part that DOES NOT make sense are the actual costs that are offered by the timeshare company.
I think thats the sticking point in all this
Nemo2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Motorcycles, (although I don't ride one......I'd've been a statistic long ago), I can understand........but.....
