Why would anyone want to get involved in a time-share?

debodun

debodun

SF VIP
Location
way upstate in New York, USA
I saw a TV ad about getting help to exit your time-share. My thought is that you buy into a shared property, but you may not get to use it when you want to (talking northern hemisphere here). Say a ski lodge, but the only time open for you is in August. Same with a beach resort only available slot is the third week in January.
 

It was very popular many years ago when people had really started get into holidays abroad and overseas, and they thought it would guarantee them a holiday every year , and only being concerned with the cost of the flight ...and of course it did but usually the same period of time.. not always but usually..

I could see this being way more expensive than it was worth ultimately.. not to metnion boring.. but literally hundreds of thousand of Brits bought into it
No one in their right mind would buy a share in a coastal property in January... neither a ski resort in August..


I haven't heard of anyone having a time-share for years..so it's probably fallen out of fashion
 
I have a dear cousin who still lives back in Ohio, but has had a January time share at Myrtle Beach for years - 25 or more. She loves it, and now her children and grands all take a January vacation together. It's a family tradition. I've never had an interest in one, but "different strokes for different folks" and all that
 

Owning a timeshare or any other form of vacation property, other than a rundown mildewed old cabin on a local lake, would be a nuisance and a burden for me.

I would rather invest my money in a boring balanced mutual fund and use the annual distributions to fund a vacation than be tied to one location year after year.

I suppose that it’s just a case of different strokes for different folks.

Some folks enjoy owning boats, motor homes, snowmobiles etc… and some folks don’t.
 
I used to work with a woman who owned a time share in Hawaii for years. She and her family used it every year and claimed to truly enjoy it. Like you, I've been skeptical of the concept.

During my working years I frequently attended retreats or workshops which used time share units to house participants. Some were meh but some others were very nice.
 
Buckeye said:
I have a dear cousin who still lives back in Ohio, but has had a January time share at Myrtle Beach for years - 25 or more. She loves it, and now her children and grands all take a January vacation together. It's a family tradition. I've never had an interest in one, but "different strokes for different folks" and all that
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Oops!

I guess that I was typing while you were posting! 😉🤭😂
 
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Friends came home from Hawaii as the new owners of a share. They couldn’t wait to tell us about it and if we bought in too they would a reward. Not a chance. The time share sellers line was ‘sure you could come here for less but you wouldn’t get this style.‘ No thanks. Every five years they had to pay for a remodel.

They end up going with their family to someplace every year just to use it. They had many years when finances were tight and just couldn’t get out of it.
 
debodun said:
I saw a TV ad about getting help to exit your time-share. My thought is that you buy into a shared property, but you may not get to use it when you want to (talking northern hemisphere here). Say a ski lodge, but the only time open for you is in August. Same with a beach resort only available slot is the third week in January.
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You might be surprised about how nice a ski lodge area can be during hiking season as well as a beach town during winter. Christmas in Venice is just an example.
 
debodun said:
I saw a TV ad about getting help to exit your time-share. My thought is that you buy into a shared property, but you may not get to use it when you want to (talking northern hemisphere here). Say a ski lodge, but the only time open for you is in August. Same with a beach resort only available slot is the third week in January.
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We like ours. We had a good salesman and he taught us how to get the most out of it and we have.
 
I could never understand why some would buy a time share. As part owner, you are liable for injuries from faulty equipment, etc.- even when you're not there. And since you own it, you're responsible for upkeep, like a new roof. Plus the increase in taxes.
Two weeks in resort hotel may be a little more expensive, but you aren't tying up a large hunk of cash in a timeshare, and you don't have the liability of ownership.
 
I bought our Atlantic City timeshare after taking an impromptu tour, offered while my husband and I were walking the boardwalk. They dangled a $75 carrot. We used that money to go see the Temptations in concert. The ocean view sold me immediately, though I held out for a killer deal. I wore those salesmen out. 🤑 It took 2 of them plus their manager to make the sale. Their manager finally reduced the price to 37% of what they were originally asking for, plus I did an interest free deal (Muslims are not to pay or charge interest) and got a free exchange club membership.

Our timeshare is within easy driving distance (less than 2 hours), gets used often and even with the maintenance fees, offers significant savings over staying at other hotels/resorts in Atlantic City. Also I belong to an exchange club, that offers discounted Getaways (no exchange necessary) or points exchanges for at least 3,000 resorts worldwide. My late husband and I once stayed in a 3 bedroom townhouse in Ocean City, MD for $228 for the entire week. It would have been less, but I forgot we didn't need to pay for the cancellation insurance, which added $39.

I've stayed at our timeshare when I traveled solo, sometimes using weekly Getaways. My cost has been as low as $97 for a studio...not for one night...for the entire week! Getaways cost much more now though. In addition, every year we get a "free" (really prepaid considering maintenance) one week stay in a one bedroom suite. My son and I now share that time. He goes Friday to Sunday; I get there Sunday afternoons and stay until Thursdays. He also goes other times because my granddaughter is down there in college now. In addition, I get called once a year for an "update", during which they really want to sell something else. Each time I've gotten free 2 night stays, plus restaurant vouchers for 2 and up to $120 in cash,

I stayed at our home resort for 6 weeks (not concurrent) in 2017. Total resort cost for those 6 weeks was $1,040. That year, the cost for a hotel room in Wildwood, N.J. was $1,500 for a week. Paying for a week's worth of food could have easily added another $600 for two. Atlantic City being a casino, resort town is very expensive, as well. Staying in a suite with a kitchenette where we can cook quick meals when we want, saves a lot of money. This, our home resort, is my happy place.

Photos from a couple of years ago. New decor is that gray color scheme and no more carpeting, which seems to be the trend now .
1. The living/dining area of a one bedroom suite
2. A studio suite
3.Kitchenette (same set up in one bedrooms and studios) Mid sized refrigerators are included.
4.Taken from the balcony (daytime) and bedroom (sunrise shot). That's Brigantine Island across the water.

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Many years ago, I had an assistant that had a timeshare with her girlfriend down in the Assateague/Chincoteague area, and she would go every year for the when the horses would swim from one island to the other.

I forget all the details, but she did do an awful lot of complaining about dealing with the people.
 
Jules said:
@OneEyedDiva The next time I need to negotiate something, I’m bringing you along.
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Jules, that negotiation was like having a job! I swear we must've been there for three hours...me with my pencil and a piece of paper, telling them it had to make financial sense. My husband just sat there and let me do my thing, because he knew... :D At one point, he interjected that two of our children (really my step children) owned timeshares and we'd call them to see what they think. So we went out in the hallway, a couple of yards from the windowed door. My husband was on the phone and I looked up to see two salesmen peeking through the window like little children trying to see what's going on with the grownups. It was SO funny! :ROFLMAO: Yeah...I would hardline a great deal for you Jules. 🤑
 
I don't seem to hear about them anymore, but people bought them at one time. Without even thinking about any advantages, time shares seemed like very poor investments to me. At first glance, they seemed reasonable, but after brief consideration, I wouldn't call them a scam, but something on the edge of a scam, like the most exciting thing about them had to be the sales pitch.
 
It's like owning a second home with 52 other people and their families.
 

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