timeshare?

[eeyoreangel1]

just come back from wdw, in our hotel lobby there was a rep for marriott horizons, didn't really want to waste anytime on holiday seeing what this envolved, but now we're home just wondering if anyone has been to see horizons or any other timeshare and could let us know the pro's and con's of timeshare costs ect.

 

[Goofyish]

I think the best way to do timeshare in Florida is the Disney Vacation Club (DVC) - especially if you are a Disney addict

I'm sure one of our resident DVC experts will fill you in on the details

or you could check out the DVC boards:

UK DVC Board

US DVC Boards

or the DVC information pages on the main DIS site:

DVC info.

 

[angel659]

Hi

We bought a timeshare at Westgate Lakes and Spas. The place looked lovely, However, on return home we found that nobody liked the place when they stayed and said they wished they never bought it. We changed our minds, but they would not cancel apparently we signed a contract saying we can only cancel within 10 days. So we are now tied in. We spoke to our closing officer and he said dont pay it, because we live in UK they wont be able to get the money back, so they will eventually take the property back. We also found out as good as the price was for the property half the price of DVC including fees we wouldnt never be able to make our money back if we re-sold it due to Westgates reputation. We are have decided not to pay it.

I am rambling at the moment sorry. What I am trying to say research is the main thing here. If we had the money we would buy DVC even though the itsmore, the timeshare will be worth more in the future.

 

[mikki.young]

I have stayed at a couple of the Marriott ones (Cypress Harbour and Grand Vista) and although they are nice they are not a patch on the DVC ones. They are also not as flexible in that you tend to have to book full weeks and can only arrive on a Fri / Sat. We own a week at the Paris one for its proximity to DLP but have never used our week there as we have always swapped it for two in the US under a special deal. Disney's resale value is holding up a lot better but with Marriott it is ownership for ever not just for 50 years or so.

 

[Pootle]

I'm a DVC member but I have looked into Marriott timeshare in Europe in the past because their resorts are high-end with a good reputation, but I agree with a previous poster about doing research first. The best starting point is the Tug (Timeshare Users' Group) http://www.tug2.net/

This is a summary of what you are likely to find:

• You should hardly ever buy a timeshare from a developer - second hand is the way to go
  Orlando is over-supplied with timeshares and it can be better to buy an in-demand week somewhere else and trade in
  Marriott is a quality provider with lots of in-the-know fans, but you should get yourself educated on Tug before you buy

Good luck with it

 

[Boo Boo Too]

Agree with what others have said - do your research and NEVER buy from the developer.

I don't know about DVC, but have experience of my parent's timeshare. They bought two weeks of 2 bedroom timeshare in Naples Florida (both weeks in October) a few years back (think they cost them $16k/$20k per week).

They had a few years of great use out of those weeks and would have continued to use them, but my Dad died two years ago (he was a healthy 73 year old and it was very unexpected). Mum still loved the place, but decided that it would be too painful to go back (especially since it would be the exact same unit).

However, it turned out that although the timeshare was in both their names, there were great problems reverting the control and deeds to my Mum. The management company there have not been helpful (probably due to ignorance and lack of interest, rather than anything else) and it has taken us almost two years to gain legal control of the unit (and be able to sell it).

Mum has been quoted a realistic resale value of $4.5k/$5k per week. She will initially try for more (about $10k each), BUT would still get nowhere NEAR the $15k/$20k they paid for each week. Plus the realtor who is trying to sell it wants 25% commission (and, yes, we have shopped around).

So they invested $30k/40k (about 6 or 7 years ago), have paid about £700/£800 a year in maintenance/dues/charges. My mother had an insane amount of hassle with changing the deeds to her sole name. Now she stands to get about $7.5k back.

I don't think this is an isolated case:
- developers HUGELY mark up the price of timeshares
- you pay about as much (if not more) in annual charges than you would if you just rented from the complex (or, better still, an owner)
- the legal system in the states is tricky if your partner dies (even if both your names are on the deeds) - ESPECIALLY if you are so far away (and have to deal with things by phone, email and post).
- the value of a timeshare will not increase over time (it is by no means an "investment" - no matter what the developers say).

DVC and/or Marriott may be different than traditional timeshares, I don't know. But whatever you do:
- do your research (especially costs/benefits of owning over cost of renting from complex or an owner)
- look into the legal side - there may be a better way of having deeds set-up, so that if one partner dies, things can be more easily resolved.
- look at the timeshare resale market (on the web and through local realtors) - you are likely to see prices at 50% or even more below what the developer is asking for EXACTLY the same thing...
- and NEVER be pressured to buy anything. Never sign on the spot: come away, come back to the UK, do your research, then - if it all makes sense - purchase if you want to.

I am not a fan of timeshares. They may work for some people, in certain circumstances, if they buy at an absolute bargain price, but proceed with care.

Best Wishes,
Boo

 

[Camac]

We too were very sceptical of timeshare but after holidaying at Peninsula Club at La Manga in Spain for three years runnning as it suited our young family we decided to purchase two weeks high season (these cost no where near the prices the Boo has told us about).

It has turned out to be one of the best purchases we have ever made. For the last six years we have holidayed in a 5 star resort with every convenience for a fraction of the cost of buying the same holiday from a brochure or even doing it yourself.

There are two ways to work timeshare - buy a cheapy place that you will never visit but use it to swop into better resorts or buy in a place that you know you like and are happy to visit regularly with the added option of being able to swop should you wish to.

We recently bought a third week at Peninsula Club at a low price with the aim of swopping it - this year it pays off - four of us will spend from 16th Dec to 5th January in Marriot Cypress Harbour Orlando at a total cost of £300 for all of us! That's high class acommodation for £75 per person for three weeks!

Timeshare is not to be entered into lightly. Always buy from a reputable company and read the small print BEFORE you sign!

It works for us - roll on December.

Camac

 

[Boo Boo Too]

Timeshare is not to be entered into lightly. Always buy from a reputable company and read the small print BEFORE you sign!

It works for us - roll on December.

Thank you Camac... I hope that I didn't come off completely negative?

As Camac says, timeshares CAN work in some circumstances (make sure you do your research and get a great price though, if you go ahead)

Boo

 

[paulh]

i am not suprised that disneys DVC are taking the market the price they tell you at the start is the price you pay no pressure no hassle no hard sell.We have been to loads of timeshare presentations some a part of booking cheap stays had to go to them .What aperformance they go througth we just do our 90 min as soon as they sit down i make a note of the time and tell them ther 90 is starting .Allways amasess me the prices they quote $40,000 for a week then it starts to come down always stand firm and say you will think about it never sign there and then.Then go to disney and check them out do a tour and beleve me you will sign on the dotted line
Paulh

 

[Ali and boyz]

Then go to disney and check them out do a tour and beleve me you will sign on the dotted line
Paulh

I hate all forms of hard sell. we found there was no hard sell from disney, no pressure at all. we bought then my SIL and BIL went out had a tour and came home, he was told he might loose his job just as they went out but wasn't sure and didn't say anything and he said there was no problem or pressure when he said he would go away and think about it.

for us disney works better as we can go at any time for any length of time which is good when you don't know when you can get holidays so we book our flights then book the accomodation. also disney as the right to first refusal if you want to sell so this seems to keep the price up.

 

[SammieG]

We have two timeshares. One in Lanzarote and one at HGVC in Orlando..

We love them both! I use the Lanzarote one to "upgrade" to an apartment in Orlando and the HGVC is the best timeshare I have ever seen (including dvc).

We pay considerably less in dues every year than we would if we were renting (actually we pay the equivalent in dues that we would on one nights rent at HGVC) and get the opportunity to rent for about a quarter of the price if we need extra days.

We looked into DVC, but it was way too expensive for what we got and whilst I would love to own at DVC there was no way that we could afford buy what we wanted. Plus the dues were massive (and you only own for 49 years or less)

We love the flexibility of timeshare and we rarely use anything else these days!

 

[Pootle]

.... and the HGVC is the best timeshare I have ever seen (including dvc)........We looked into DVC, but it was way too expensive for what we got and whilst I would love to own at DVC there was no way that we could afford buy what we wanted. Plus the dues were massive (and you only own for 49 years or less).........

Glad you are so happy with your timeshares I think because of the seedy image the industry has had in Europe, many Brits are understandbly cautious, and with good reason.

HGVC (Hilton Grand Vacations Club) has a good reputation and again, is backed by Hilton and is therefore a quality product. (BTW, the Tug users' ratings out of 10 are HGVC 9.08 - high but the DVC resorts are higher still, some examples, OKW 9.52, VWL 9.54 and BWV 9.50 )

You make valid points about the costs of DVC. However, I've just checked what I paid in 1996 buying full price from Disney when the exchange rate was not nearly so good and I can confidently say that I could get more by selling my points now on the resale market than I paid - even given today's exchange rate (which would work against me if I were selling).

I think there are very few timeshares that can make that sort of claim, and Hilton definitely can't. Boo Boo Too's story is not untypical. Now if you bought Hilton on the resale market, that could be a different matter. I've just checked on tug and a silver week at HGVC is offered for $5250 and a gold for $8000. Got to say, those HGVC maintenance costs aren't especially cheap, and nor would you expect them to be.

My scenario may be due to my good timing and future performance may not be the same as the past ya de ya ..... but I've been very happy with my purchase and it was never seen as an investment.

I can't get excited about the fact that my DVC contract will only last until I'm in my nineties

Short version of a long post is, there are excellent quality timeshares to be had in Orlando but a lot of research would be a wise IMHO

 

[crux]

We bought into DVC 4 years ago - the cost was approx £10,000 which gives us 222 points, enough to stay two weeks in a studio (sleeps up to 4) during quite a large part of the year. The annual cost (dues) is approx £600 a year. It is the best purchase we've ever made, we get to stay in WDW every year - plus it also made financial sense for us. This year is our 5th trip as DVC members and what we've paid in total (initial cost plus dues) is what it would have cost to pay for the accommodation at Villas at Wilderness Lodge and Beach Club Villas for the five trips.

The theory is that if you visit WDW every one or two years and you stay on-site in a Moderate hotel, or above, then it is worth looking at DVC.

If you've any questions you can post them on the UK DVC board. When we were looking at buying, Kevin Stringer was especially helpful.

Ian and Judith

 

[SammieG]

We bought into DVC 4 years ago - the cost was approx £10,000 which gives us 222 points, enough to stay two weeks in a studio (sleeps up to 4) during quite a large part of the year. The annual cost (dues) is approx £600 a year. It is the best purchase we've ever made, we get to stay in WDW every year - plus it also made financial sense for us. This year is our 5th trip as DVC members and what we've paid in total (initial cost plus dues) is what it would have cost to pay for the accommodation at Villas at Wilderness Lodge and Beach Club Villas for the five trips.

The theory is that if you visit WDW every one or two years and you stay on-site in a Moderate hotel, or above, then it is worth looking at DVC.

No one doubts that DVC is a great product with great resale potential.. but the problem I have with it is the price! Dont get me wrong, if I could get the same value onsite as I do offsite I would buy a DVC without hesitation.
However, for less than you have paid, and considerably less dues per year we get a 2 bedroom apartment. For a 2 bed at DVC it was something like £30,000 plus £2000 a year in dues... and seeing as DH wont have anything less than a 2 bed, we were in trouble!

I enjoy staying offisite anyway..I dont get the "magic" onsite that everyone talks about! There would be no magic staying in a studio apartment for me!! Plus I like to do differnent things, not just Disney whilst away.

As I said though.. I think its a great product. I find the DVC units a little on the small side, but other than that, they look great.

 

[Ali and boyz]

don't want to get in a debate as to what it the best as I am sure they are all equally good in their own way. but just wanted to say , incase anybody is interested in DVC that we bought enough points for a two bedroom going in July for two weeks and it didn't cost us anywhere near £30,000 and our dues are NOWWHERE near £2,000 each year, not even the £1,000 !!.

 

[SammieG]

sorry Ali, my fault I didnt make myself clear.. I was talking about 2 x 2 weeks a year which is what we usually do.

 

[angel659]

We were supposed to pay $17,893 including interest for 3 bed unit every other year. We would only pay maintenance which i think is $500 I cant recall. We would need a 2 bedroom unit so we would use all three weeks and would have to pay for 1 extra week. If you get what I mean. I thought it was a good deal, but people said we were ripped off. Hence why we wont pay now we are back in the UK and the closing officer said they can not do anything so dont worry. We just fell for the hard sale.

We really liked the apartments, but reading on reviews people hated Westgate, but there were no reviews from owners People were complaining about the air conditioning that it was a movement sensor, it would turn itself off when your out, but unless your a fidget in bed it would turn off. People have woken up hot. Its such a shame, as I really liked it there.

 

[Ali and boyz]

sorry Ali, my fault I didnt make myself clear.. I was talking about 2 x 2 weeks a year which is what we usually do.

I wondered would love to go more than the once or even go off peak which would give us more value for our points (wouldn't need to use as many points) and also it would be nice to go at xmas but there is no flights out of Glasgow during the winter. they must think all us scottish hypernate