Non-DVC timeshares

[Tygerlilly]

Now that our girls are getting older, we're thinking about future trips we're wanting to take over the years. Right now, we're looking at trips to Pigeon Forge, Pittsburgh, and Orlando this year. We normally stay at moderately priced hotels wherever we go.

I considered a timeshare, but was wondering, does anyone have one that they love that can be booked anywhere in the country? Does something like this exist? Are expenses crazy or do you feel they really are a fantastic deal for the amount you travel?

I'd love to hear which ones you've invested in for your vacations.

 

[Marionnette]

Now that our girls are getting older, we're thinking about future trips we're wanting to take over the years. Right now, we're looking at trips to Pigeon Forge, Pittsburgh, and Orlando this year. We normally stay at moderately priced hotels wherever we go.

I considered a timeshare, but was wondering, does anyone have one that they love that can be booked anywhere in the country? Does something like this exist? Are expenses crazy or do you feel they really are a fantastic deal for the amount you travel?

I'd love to hear which ones you've invested in for your vacations.

We own DVC and we looked into other timeshares as well. The other timeshares were very high pressure sales, refused to allow us any printed materials regarding their offer and pretty much soured us on ownership. Many timeshares, including DVC, will tell you that you can stay at other locations but doing so will involve trading into RCI or Interval International. I highly recommend reading the forums on Redweek and TUG2. And buy resale if you do decide to buy a timeshare.

 

[BridgetBordeaux]

Marionnette has pointed you in a good direction.

Outside of the timeshare industry, timeshares are not referred to as investments.

Timeshares are expensive. Even if one is given to you, the annual maintenance fees can be pricey.
It is also very, very, very difficult to get rid of one. Many families are shocked at the reality of paying for a timeshare for decades.

Please do significant research and consult a financial planner before committing the initial 10K to 40K to a timeshare that may have between 750 and 1800 dollars a year in maintenance fees.

Oh yeah.............it can be tough to get some "other place in the system" when everyone is out of school trying to have their own vacation at the same time.

Edit: 1 hour later- but renting someone else's timeshare or condo can be a nice option. You get a nice roomy place to stay for about the price of a hotel room. Lots of them are available in the destinations you mentioned.

 

[chalee94]

Please do significant research and consult a financial planner before committing the initial 10K to 40K to a timeshare that may have between 750 and 1800 dollars a year in maintenance fees.

I agree with most of what you said, but $10K for a timeshare would be nuts. A little time on TUG will convince the OP to stick with resales, which are considerably cheaper for nonDVC timeshares (mine was $1).

OP,

Timeshares tend to be complicated (and as stated, can be difficult to get rid of in some cases) so I'd plan to spend 4-6 months reading TUG before you consider buying in.

I'm not sure who would have resorts near Pittsburgh but you may want to start by researching the Wyndham and Marriott systems.

My non-DVC timeshare cost $1 on ebay and annual dues are currently $750-ish for a 2BR villa that breaks into 2 1BR villas for trading in Interval International (or RCI, but Interval fits my preferences better). I love it but did a lot of research beforehand to make sure it was what I wanted.

Timeshares can work for some people but definitely not others. Do your homework before signing what can be a long term commitment...

 

[bearzabout]

A agree that owning a timeshare is very expensive, but renting them can be a bargain.

There are great deals available out there on Skyauction, eBay, Airbnb, VRBO, TUGG, Redweek, etc. depending on your dates of travel. Even renting houses and condos can be cheaper than timeshare purchase and maintenance fees.

I find that I am treated better as a potential buyer than the people I talk with who own at many of the dozens of timeshares I have stayed at throughout the country. Your options and flexibility are highest if you do not own in one particular resort or network.

Although I love staying in timeshares, I would not recommend purchasing one. They just don’t make financial sense for many people, and many who purchase eventually regret it. Quality timeshares like Disney are different but are quite expensive.

Read reviews on Trip Advisor and Yelp before renting a timeshare. Some are run down and can be terrible, others well run and enjoyable. Gatlinburg and Orlando have so many options. Availability changes all the time with the best deals often popping up less than 90 days out. As a general rule, the busier the week, the more you will pay for a rental.

 

[BridgetBordeaux]

but $10K for a timeshare would be nuts. A little time on TUG will convince the OP to stick with resales, which are considerably cheaper for nonDVC timeshares (mine was $1).

Hey............I had to start somewhere with my information. I almost typed in my first message that some tug2.com bargain basement listings were as low as $.01, and many were for sale for one dollar, but I went with the mainstream data first.

.................and yes, and performing many months of reading and research is a great suggestion!

 

[TwoMisfits]

I own a timeshare (Wyndham), and I love it. But, I specifically picked a location that I would use, that didn't cost a lot of points for value, that was highly flexible (love the point system, and not the "you're stuck with this week, location, and timeframe" system), that had very low maintenance fees (and yet wasn't old and falling apart), and that allowed point pooling (so I could skip a year). Right now, I get the equivalent trade of a 2 bedroom in "high season" for a week per year for $818.76 all in at my chosen site (Williamsburg). Usually, I throw in $39 every 3 years to "pool" my points and get 2 weeks in Orlando (or 2 5-6 vacations I like) for 2 years in a row (so 28 days every 3 years), since my timeshare does go farther in value season in Orlando.

Now, the points don't go as far in a city location (like NYC), although I am considering 4 nights in a 2 bedroom in dowtown NYC for next year with pooled points for 2 years worth of points, so that would be $1675ish cost equivalent out of my pocket all-in for that type of vacation. But then again, looking at high season hotel rates for 2 separate rooms or a single 2 bedroom suite in NYC for that timeframe, and I can't find anything really under $900/night + taxes (best for NYC seems to be $450/night x 2 rooms for summer rates), so if I use it the timeshare that way, I'm still coming out way ahead.

As of now, I've had it for 15 years, so everything is bonus (and has been since the year we bought). We did buy direct, and I would encourage a small direct contract with resale points for what you want, so you get the bennies of direct with the low cost of resale. When we bought, we spent $10K...I assumed that would be my vacation fund, and never an investment. I mean, if I get anything ever back out of it, I'd be shocked. But I plan on continuing to use it for pretty much the next 40-50 years (especially having the ability to winter in Florida near family in retirement, so I have no plans to punt it anytime soon.

I mean, I didn't buy DVC b/c I didn't want the 50 year limit...when I bought, 50 years would have only got me to my mid-70s...and I totally plan on warm weather for winter longer than that...

 

[tvguy]

You have to do a lot or hard work before deciding on a time share and whether it fits your needs, wants and financial situation.

Consumer Reports rated DVC at the top of the pack of timeshares, but concluded their recommendation was not to buy any timeshare.

 

[georgina]

We sat through the presentation for a gift card when we stayed at the Sheraton Vistana Resort last year. There is an allure of having a certain # of sheraton points every year (for a fee, of course). But we have had many great stays at airbnb and VRBO/homeaway places across the country that I would not tie myself to a timeshare.

 

[bluehen]

The general rule for timeshares is buy where you want to use. Exchanging can add a lot of cost to your ownership. I own two. Bought them for a grand total of -300. We have been going to both for over 10 yrs and have been very happy. That puts us in the small minority of people who love our timeshares. One of the best things about timesharing is the rental aspect. We usually take 3 or 4 other vacations in other peoples time shares for very cheap. We just got back from a week in a condo at Massanutten that cost us 150 dollars. It was a last minute rental through an exchange company. I highly recommend Tug......www.tug2.net. There is a great group of time share owners that know all the ins and outs of ownership.

 

[Karenj2]

*IF* I didn't want to do DVC first, I would probably buy into Marriott's timeshare. (But I don't have the funds to do either.) If you want to rent, though, to check out places without commitment, we've used www.redweek.com which is a site that allows you to rent from timeshare owners.

 

[cjnix29]

I own a bluegreen timeshare. It's a vacation point system, so we aren't tied into any week, or any place. There are probably about 40 resorts in our network and then have access to RCI, for other destinations. We use it, we like it. I have a lot of points, and my maintenance fees are fairly high. But it's paid off, and when I compare my maintenance fees to the cost to book a cabin/condo without it, as I was doing recently, my maintenance fees are WELL worth it! It does take a lot of advance planning, and being flexible, as last minute reservations are fairly impossible to get. But we like it, we use it, and I didn't pay an arm and a leg for it. Resale is the way to go in a timeshare. And do as much research as you can, ON YOUR OWN, and don't take the words of the sales people, if you buy from a developer.

 

[krysenchips]

Right now, we're looking at trips to Pigeon Forge, Pittsburgh, and Orlando this year. We normally stay at moderately priced hotels wherever we go.

I don't have any info on timeshares, but I am local to Pittsburgh, so if you need any local info just let me know!

 

[Darcy03231]

We're a family that travels a lot. I did a lot of extensive research and found that since we like to vacation in different places both within and outside the United States, a timeshare did not make financial sense for us. Generally, I can rent a home/villa/condo through VRBO, Airbnb, or other sites for either less than or about the same as the costs of the timeshare. One thing I found during my research is that in addition to the yearly maintenance fees, there can be special assessments for larger projects if the there isn't enough money in the budget and you can get charged with a special assessment that can be in the thousands of dollars.

I think timeshares work best for people who want to go to the same place all the time, like my co-worker who vacations in St. Maarten every year (although that has changed since her timeshare was completely destroyed in last fall's hurricanes).

 

[EsseG]

We bought a timeshare at Cypress Pointe near Disney 30 years ago, then another in Sedona 20 years ago. They were great while the kids were small and gave us wonderful opportunities around the world but, with management changes and fee increases, now the maintenance costs (about $2500 a year) aren't worth it. The market now has so many rental options that are better and cheaper.

 

[Tygerlilly]

I don't have any info on timeshares, but I am local to Pittsburgh, so if you need any local info just let me know!

I was born and raised just outside of Pitt! Lol. I have tons of family still up there, but I always hate interrupting their lives with two tiny kids when we stay with family (they claim they don't mind, but I know my uncle gets frustrated).

 

[Anthony1971]

I would suggest you go over to the DVC boards.. It is strictly DVC but occasionally you see some other discussion. There are people there that own other timeshares and have a lot of knowledge they will share do your time and reading and you will get to know them..... We own DVC and have for over 14 years I can tell you I bought retail and can sell it now for what I paid but DVC is a huge exception right now... that can change and it could be worth nothing a week from now... there are some decent timeshares out there that have a value and people will buy again now maybe not tomorrow... but you certainly will not be getting them on that cheap for resale and a lot more retail but the advantage is if you change your mind you can sell it maybe at loss maybe break even maybe a gain but you need to understand and be happy with any outcome... you are buying a vacation make sure you will want to vacation (and can afford to) at the place you purchased for the next 15 years (a lot more in reality but a starting point) as that is all you are entitled to.... trading out is a perk not a guarantee....

 

[seashoreCM]

For Disney Vacation Club and some other timeshares, you do not really own it. Vacation club is really a good term for it. After, say, 30 years you have to "buy in" again although the cost for doing that might be less than what you paid in the first go 'round.

Most timeshares have peak season, "regular season" and "value season" prices. If you bought a peak season week, you can generally trade your week and book any week at any other timeshare in their network (RCI, II, etc.) if there are vacancies.

Still, in many cases, not buying any timeshare and renting instead will work out better for many folks.

 

[bearzabout]

Timeshares are only located in popular vacation spots, so there aren't any around Pittsburgh. Look at AirBNB and VRBO for these stays. Both offer condos for rent. Some are quite inexpensive during certain times of the year. I find the cheapest deals on Airbnb. The same condo listed on both sites is usually cheaper on Airbnb than VRBO since their fees are lower. Just make sure to read all the details and reviews on any posting. Make sure the places don't have pets if our kids have allergies. Contact the host before booking to make sure they don't mind children. I look to Skyauction first, Airbnb second then Ebay third in order to find the best deals on locations all over the country.

 

[ctc917]

We purchased our first Timeshare in the Lakes Region of NH, its been great especially on the years where we didn't have a lot of funds to travel far so still would be able to go on vacation just by jumping in the car and traveling a few hours was great, if this is an option for you. Over the next few years we purchased 2 other timeshares on EBay for a way cheaper amount of money then what we spent on the first, $800 for one and $1 for the other, so that's the way I would go first, resale. Out of the 2 resale timeshares we purchased the first one wasn't deeded so it had a end date which worked out great since it was also one we could travel to be able to use it on daily basis,( use the pool) the 2nd resale one we got in touch with the timeshare place and asked to return it to them and they said "yes" so we signed paperwork and that was that. Our kids got older so we didn't travel as much so we didn't need as many options for travel so we downsized and now we own our original Timeshare in NH and we have purchased some DVC points to use when we travel to Florida.
I loved traveling to different timeshare places over the years with our kids and I found owning a full week and using RCI to travel to other places we didn't own at was so much easier then the points I have a DVC.
I would travel to different timeshare places and sit thru their talk and maybe even collect some great gifts, but remember some of these places have really hard pressure sales people but if you stay firm you will be fine and after you find the place you love go onto ebay or other resale places and purchase your timeshare resale.

ctc917