Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
And when you rent out your timeshare to try to recoup the $1000 maintenance fee you run the risk of the renters trashing the place and you will have to pay for the damage and then try to go after them to recoup your losses.
Nope. My maintenance fee, again, is only $100/mo, and the property handles all of the maintenance after the rental. Also, it's technically not considered a rental, it's more of a hotel stay, so they take care of everything. I don't do anything but give them the permission to use my "property" as such, and they in turn award me with the points.
I did my homework and researched the best timeshares before I jumped in the pool. I also wasn't young and broke trying to steal a free vacation. I knew what it was going to cost, I have the time to go on vacation in the first place, and I could afford the money it cost for those four years to own the place, before I signed on the dotted line.
And when you rent out your timeshare to try to recoup the $1000 maintenance fee you run the risk of the renters trashing the place and you will have to pay for the damage and then try to go after them to recoup your losses.
Actually, that's what happens when you buy a condo and rent it out if you're not staying there, like you suggested in another post.
Nope. My maintenance fee, again, is only $100/mo, and the property handles all of the maintenance after the rental. Also, it's technically not considered a rental, it's more of a hotel stay, so they take care of everything. I don't do anything but give them the permission to use my "property" as such, and they in turn award me with the points.
I did my homework and researched the best timeshares before I jumped in the pool. I also wasn't young and broke trying to steal a free vacation. I knew what it was going to cost, I have the time to go on vacation in the first place, and I could afford the money it cost for those four years to own the place, before I signed on the dotted line.
there are 12 months in a year so you say nope not $1000 you mean it's more like 1200.
Actually, that's what happens when you buy a condo and rent it out if you're not staying there, like you suggested in another post.
But you own a condo, you don't own a timeshare, at most you own 1 week a year, so you have to have a timeshare unit repaired and they will tell you how much it costs, if it's your condo you can repair as you go and find the best prices.
When I go on vacation I pay for it go and I'm done.
Take 7 k a year and go enjoy a few vacations. Decide you don't want to or you want to buy something for 7k? You can. I looked into time shares. No thanks.
The OP could use points (about half of what s/he has per year) to cover the $7,000 annual maintenance fee. Having written that, and given what others have written about restrictive booking issues, I'm not sure if the timeshare is still a great idea. If you enjoy spending time at resorts, etc., then it may be for you. For me, however, I like the idea of hunting for a place to stay prior to a vacation and am not much of a resort person (the resorts make me lazy/not want to explore as everything is already at my fingertips). In any event, I don't know if I'd ever pay $50,000 for a timeshare, regardless of how good the deal is.
there are 12 months in a year so you say nope not $1000 you mean it's more like 1200.
Yes, for a year.
The timeshares I have access to "rent" at $300+ per night for a 1br condo.
We almost always get a 2br or 3br because our family usually comes. We typically stay for 3 nights, and we do this maybe 4 times a year, sometimes more. That comes out to about $3600 at the cheapest.
We are staying in Vegas for a week in March, in a brand-new 2br condo. That one trip alone would come out to about $2800.
But you own a condo, you don't own a timeshare, at most you own 1 week a year, so you have to have a timeshare unit repaired and they will tell you how much it costs, if it's your condo you can repair as you go and find the best prices.
We do own our timeshare; we have the deeds, and they can be passed down to our kids.
Maybe you didn't read my post where I clearly stated that we can go anywhere, anytime, however long we want.
We don't own at some cheesy "red week" timeshare where you are locked into the same week, all 7 days, at the same place, every single year.
I'll refrain from answering your posts since you don't really want to hear any good stories about timeshare ownership.
Lets see if a renter trashes them if you own them or not.
I am not sure why you bring up the renting issue. The timeshares have management companies who will aggressively go after the renters for any damage. They even have price lists in most for the broken glass, lost towel, etc.
Never heard of the timeshare going after an owner for what a renter does.
BTW I currently own a timeshare in Hawaii--2 bedrooms, kitchen, living room, two baths, pool. $840 a year in maintenance, couldn't even rent a one room hotel for that price. And we use it or trade it. No issue finding good trades.
I just sold our other timeshare. I bought it when my kids were 3 years old--ten years ago. It is about 5 miles from our home. Bought it because it allows day use, one can go there any day, plus the one week every other year. IT has an inside swimming pool that we went to almost weekly for many years. As the kids got older, the pool table and tennis courts were a draw too. And we generally bought food to barbeque at the pool patio area. I paid $112 on eBay for it and we definitely got our use out of it. Sold it because we are moving, had 6 interested bidders on a +++book site and sold it for over three times what I paid. Not much, but it sold easily in a 3 day auction and the title has now transferred. Buyer and I both went to the county office with the deed and registered the sale. No cost escrow
So are they a good investment? MAYBE, depends on what you paid for it, if you actually use it, if its a desirable one that can be resold.
I doubt that one could ever get the money back if it was purchased from a developer, but if it was a resale purchase, maybe I did!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
