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anybody getting the place is signing up for a lifetime of fees.
we recently inherited a couple of 2-bd/2ba golf course/resort area timeshares.
Foolishly, we signed the paperwork for the deeded ownership.
After spending two years paying out the fees and maintenance charges and being unable to use them or to find "exchanges" to use in the places we travel ... we realized these weren't worth their fees.
Fortunately, the timeshare corporate owner has a program to "take back" such units at no charge/no payment for folk such as us who have different leisure time priorities than the original buyers. We signed quit claim deeds over to corporate and walked away, released from the annual fees.
This is spite of the time share "resellers" claiming that the places were worth high-teens through $20K on the market. I went to their websites where they'd list the places for a 5-figure fee upfront ... and found comparable units to ours dropped in price to $500 and still not finding buyers.
For most people, they would have the freedom of the weeks of vacation time and numerous choices of comparable resort places to stay for less money than the annual fees on these condo developments. With the competition of air b'n'b thrown in, the time share condo developments are a looser for most people. They certainly were for us ... and for the last decade of ownership by my relatives that had bought their "dream golf resort" access. With their aging health issues, they were unable to use the places for almost 10 years but still paid the fees.
Doubtless, there are people who will find the unit and location on this offering to their taste and have the time to enjoy it. Do your due diligence and verify that you'll use the place and justify the expense each year to do so ... even if your circumstances change and you cannot use the place. In my view, even if it cost more per year to use one of their comparable resort area rental condo's, if you don't have the obligation each year for fees, then the years you don't use it you're not paying for the privilege ... money not spent but saved.
True. Does it fit? I have used this unit for over 30 years. Nice area. Savannah close by. Golf and tennis available. Property well maintained. Shaded bike trails. Water activities available. I did receive the value out of the unit by using it. Timeshares are not an investment but can be a value for value package if it fits.
True. Does it fit? I have used this unit for over 30 years. Nice area. Savannah close by. Golf and tennis available. Property well maintained. Shaded bike trails. Water activities available. I did receive the value out of the unit by using it. Timeshares are not an investment but can be a value for value package if it fits.
Exactly!! Had it been a 2bed 2bath I may have pursued it. They are not an investment and trust me a week in a rental condo at Hilton Head or Savannah will cost more than the fees on this one.
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