How do timeshares work? Are they worth it? Does anybody have one?
July 19, 2009 by Timeshare Vacation and Fractional Ownership Tips
Filed under More Timeshares Answers
Can you answer vbg17’s question about Timeshares?:
I am looking into buying a timeshare and would like to understand them better. Thanks in advance.
Timeshares In Gatlinburg
I am looking into buying a timeshare and would like to understand them better. Thanks in advance.
Timeshares In Gatlinburg
Timeshares Feedback: I have one with RCI it pretty good if you plan on traveling to different places. Compared to renting amhotel room you can save thousand over a coarse of a few yrs. How it work you actually own a piece of the condo that is a time share. You should look for forclosure sales
When you purchase a timeshare, you purchase a period of time in which you can enjoy the benefits of a property. This is typically a certain sized condo unit (2 or 3 bedroom) at a resort located at a favorite vacation spot. The cost of a timeshare is again typically more affordable than purchasing a condo outright, so many people think there’s value there.
But with timeshares, you only own the time to the timeshare, you don’t own the property (generally speaking). The value of that time drops tremendously after you buy it because that time is so readily available elsewhere. In fact, many people try to sell their timeshares without success due mainly to an overabundance of timeshare inventory.
Timeshares Feedback: As an investment there are much better real estate investment opportunities available. You have limits on access, times of year may not be available when you want to go. Better to own outright or rent.
I’ve attended a few of the sales pitches, one I was invited to on 2 different times and 6 months apart at that. The guy who was “supposed” to be the speaker was supposedly on a vacation to one of the fabulous destinations somewhere both times! What a coincidence! And the speech was the same, the players the same the spill the same. All fluff and no substance. Again not a good investment.
If you were my client I’d advise strongly against a time share. Most smart real estate agents don’t buy them.
Timeshares Feedback: Time shares are a bad investment. If you were to take the money and put it in a CD at 5% ROI, you will have more money in 20 years than your time share. You’re better off using your credit card points for a discount or just pay the $150/night forahigh class hotel when you vacation.
Rich people don’t own time shares, ever wonder why?
Regards