Question about timeshares

Nothingman54

Iv just started looking into it. What are the pros and cons? Any of you have a timeshare?

Phantom Pain

We have had one now for about 5 years in Ormond Beach FL right next to Daytona

It's beach front sleeps 4

We didn't pay a lot for it because the resort is considered an older one not one of the fancy over priced ones..they will try and sell you ones that are very expensive..try to stay away from the BIG priced ones

The old saying you're gonna hear "Who wants to vacation in the same place every year?" That is very far from the truth..there is a company called RCI you can join for around $80 a year and it gives you the oppurtunity to "trade" your week into units all over the world...we've traded our week to Mexico for our Honeymoon..we've traded to Las Vegas..Our unit it a STUDIO but it trades as a 1BR..so we make out because we get a bigger unit if we trade our week..you can also trade your week for a cruise..the 7 days in Mexico was $1,400 for 2 all-inclusive resort..for the Vegas trip we had to pay an exchange fee $150 and we had 7 full days in LV less than a mile from the strip

Now..they do have other options where you have POINTS when you buy a unit. Say you buy a unit $5,000 and it comes with 40,000 points those points are converted into vacations...say it would take 10,000 points for a week in Disney World you still have 30,000 points to use for the year..my thing is with the points we would never be able to use them all with work and only having so much vacation time so you would lose the points..we can "bank" our week which means not use it one year and we can use that banked for up to 2 years

There will be a yearly Maintenance fee which goes towards the resort that your unit is located at..that fee will be based on the size of the unit and how nice the resort is..so ya figure for the price of your maintenance fee..RCI charge..airfare and if you're still paying off your unit the first few years will be expensive


If you can manage to get a unit pretty cheap and pay it off you will get your money's worth in no time..also with RCI they have RED Weeks and WHITE weeks which means RED is prime season so sometimes you may not be able to get that week in a different resort if you have traded


Our week is week 31 which is the first week of August which is usually pretty popular

Any questions let me know

Nothingman54

Phantom Pain wrote:

We have had one now for about 5 years in Ormond Beach FL right next to Daytona

It's beach front sleeps 4

We didn't pay a lot for it because the resort is considered an older one not one of the fancy over priced ones..they will try and sell you ones that are very expensive..try to stay away from the BIG priced ones

The old saying you're gonna hear "Who wants to vacation in the same place every year?" That is very far from the truth..there is a company called RCI you can join for around $80 a year and it gives you the oppurtunity to "trade" your week into units all over the world...we've traded our week to Mexico for our Honeymoon..we've traded to Las Vegas..Our unit it a STUDIO but it trades as a 1BR..so we make out because we get a bigger unit if we trade our week..you can also trade your week for a cruise..the 7 days in Mexico was $1,400 for 2 all-inclusive resort..for the Vegas trip we had to pay an exchange fee $150 and we had 7 full days in LV less than a mile from the strip

Now..they do have other options where you have POINTS when you buy a unit. Say you buy a unit $5,000 and it comes with 40,000 points those points are converted into vacations...say it would take 10,000 points for a week in Disney World you still have 30,000 points to use for the year..my thing is with the points we would never be able to use them all with work and only having so much vacation time so you would lose the points..we can "bank" our week which means not use it one year and we can use that banked for up to 2 years

There will be a yearly Maintenance fee which goes towards the resort that your unit is located at..that fee will be based on the size of the unit and how nice the resort is..so ya figure for the price of your maintenance fee..RCI charge..airfare and if you're still paying off your unit the first few years will be expensive


If you can manage to get a unit pretty cheap and pay it off you will get your money's worth in no time..also with RCI they have RED Weeks and WHITE weeks which means RED is prime season so sometimes you may not be able to get that week in a different resort if you have traded


Our week is week 31 which is the first week of August which is usually pretty popular

Any questions let me know

thanks! Alot of helpful info. I do have a question. Iv been looking on eBay and on there you buy the timeshare for let's say 300 and then all you pay is the yearly mantanice/taxes.? Am I wrong? The only thing you pay is that fee?

Phantom Pain

Yes..if you're buying the unit outright the only fees would be your Maintenance and Taxes once a year

Is that a real price for a unit or you just throwing numbers around ? That sounds really cheap

Also..if you do get a unit take advantage of RCI so it gives you flexibility

I'm kicking myself still a guy I work with was going through a divorce and his wife didn't want to keep the timeshare they had..he offered it to me for $1,000..the unit is in Kissimmee FL like 5 minutes from Disney..slept 8 and had a room divider so 2 families could stay in the unit with no problem

If nothing else I could have flipped the unit

megatron

don't do it.

Jason P

The whole timeshare industry seems very shady to me. I think you would be better off just renting a house in whatever local you are interested in each year. That way there is no commitment and you are not forced to go somewhere each year because you own a timeshare . . . sometimes the best vacations are spent in the backyard.