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Thread: Timeshares - Good or bad?

  1. #1

    Timeshares - Good or bad?

    I don't have a timeshare, but have thought about it.

    List your views, are they good or bad, explain why. Help me make up my mind.

  2. #2
    All League
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    I am curious as well. I've been to a few timeshares that my friends own (most recently Newport RI) and it seems like a good deal, but Im not sure.

    They aren't restricted to one location, they can go to any Wyndham property in their select package. I'd rather that than having to go to the same place every time.

  3. #3
    Jets Insider VIP
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    Sep 2005
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    TERRIBLE IMO. Anything that is sold on the street like 42nds st whores were in the 70's...... well how good can it be?

    I have clients with them who are paying maintenance fees of $1,000 to $2,000 a year AFTER the loan was paid. They can't sell them. There is actually a company who helps people "walk away" from timeshares and take a loss for tax purposes.


    I have never met anyone who after 5 years was "Happy with the Value".

  4. #4
    I think they are a good idea for a very very very small % of the people in this world. I wouldn't go anywhere near a time share offer.

  5. #5
    Here is my list of good and bad, as an outsider.

    [U]Good[/U]

    The properties seem to be better than hotels.
    Good deals for time shares are available on the resale market from distressed sellers
    You have access to promotions given to time share owners for discounted vacations.

    [U]Bad[/U]

    Expensive to buy from promoter. $10,000 for a week is the equivalent to $520,000 for the property if it was 52 weeks a year.
    Maintenace is expensive. $1000 a week is $52,000 a year equivalent.
    Trades for different locations can be a pain. Fees + way in advance bookings + downright denials.
    Week to week use only. What if you want 10 days? What if you want 4?
    Use or lose time. What if you want to go on a cruise instead?


    Does anyone have thoughts on this list, one way or another?

    But lets be civil here. I don't mind critisism, but let's not have name calling, please.

  6. #6
    Jets Insider VIP
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    In Morris Co., N.J. at the right end of a Browning 12 gauge, with Nick to my left n Rex to my right.
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    It all depends on how much money ya got.

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