Timeshares-DVC or otherwise-thoughts? opinions?

[dzorn]

I think that you have hit on an issue that many do not consider. So many people buying into DVC think that they will always vacation at Disney. The investment is so large (cost of the timeshare, annual dues, tickets, travel expenses) that buying into a timeshare will always cost more than not. Timeshares should never be looked at as an investment.

Reading the DVC boards might lead one to believe that that many people are happy with their timeshare purchases. I think that percentage wise there are very few. Many are too embarassed to say that purchasing a timeshare was a mistake. For some, the purchase may seem like a good idea for the first few years, then reality sets in.

As a real estate lawyer I have rarely, if ever, come across a client who thought that timeshare purchases were a good idea. When times get tough you can cancel you vacation, but annual dues and other expenses still need to be paid. Take a look at the number of resales and foreclosures to see how many have come to the realization that a timeshare purchase was a bad idea. I realize that I tend to see the negative side of things, but I am of the opinion that anyone purchasing a timeshare has been suckered into doing do. Disney (with the "Welcome Home" b.s.) and other timeshare companies (with the high pressure sales tactics) would not be doing this if it did not mean there was a huge profit involved. (i.e. they are capturing vacation dollars that they otherwise would not have captured.)

The only good news (selfishly) is that with so many friends and clients in timeshare purgatory I have had many free (or nearly free) places to stay over the last few years. So if you want to make your friends and relatives happy buy a timeshare! They are the ones who will benefit most.

Well you're just a ball of sunshine.

Time shares are not for everyone but no reason to think those that have them are suckerd into them. We throughy enjoy our DVC. Maybe we are still in our Honeymoon period. with DVC but for us it was a good decision. We knew it would force us to take a vacation which is needed for our mental health. Yes I am sure we could have spent money on other vacations and things but this allows us to focus on family time, without the excuses of money issues.

I am sure there are some that do not do research and buy without thinking things through but that is lack of planning on their part.

Our next trip we are not even visiting the parks. Gave my kids a choice for vacation and they chose Disney even knowing we would not be hitting the parks this year.

And possibly those happy with their timeshares are not in need of a attorney with your expertise.

Denise in MI

 

[Jeafl]

Our story is a little different. My MIL bought FIVE timeshares (none of them DVC) with the intention of keeping one, and giving one to each of her 4 children. Well, years have passed and none of my BIL/SIL have any interest in a timeshare. We are the only ones who took pity on her and took over the payment of the annual fees on one of them. We get 205,000 points a year which is usually about 2 weeks worth on most exchanges through Interval International.

The problem is, they give you this huge catalog and tell you that you can exchange for places all over the world, but it is nowhere near as easy as it sounds. You have to wait until someone else gives up their week in a place you want to go, when you want to go. Then they have a "reservations-like" option which requires you to pay the next year's fees up front plus the $159 exchange fee, even if your fees are not due yet. All this does is basically put you on a waiting list for a certain property, with absolutely no guarantees.

We are finding out that it is nearly impossible to get the correct information from anyone at Interval International. Everytime you call you hear something different. I have a feeling that we are going to regret taking it over, but at this point, we just have to make the best of it.

 

[DawnCt1]

We have been researching DVC, but can't decide if it is right for us.
I know Dave Ramsey and Suze Orman are against them, and that many of the people who have them are glad they did it, so it got me to thinking..........

What do you think about timeshares? Do you own one? If not, have you ever considered one, and why did you decide against it?

I'm not looking to be talked into or out of buying DVC, I just thought this would be interesting, to get others views on timeshares.

As is Clark Howard, Bruce Williams and most financial advisors, on the radio or in real life. People who are glad that they did it, made that decision based on what they like, not as an investment. If you are considering it an investment, it isn't. If you are considering something fun to do with your disposable income, and you have a lot of disposable income, then it is fine. I wouldn't consider it unless I bought at someplace that I would like going to year after year and at give away prices where the seller just wants to get out from underneath the annual fees.

 

[Greysword]

...When we bought it, our vacation style was different. It was great for 10 years; it no longer is. Unfortunately, timeshares are not like a car lease and I now regret having tied myself to a vacation style that no longer is what I want to do.

I would wager that a solid financial analysis would prove that you likely broke even on your investment (if not came out ahead). Although, 500+ points are a lot

At the top of the DVC Rent/Trade board is a sponser, which makes a living handling the minutia of renting points for members, who may not be inclined to do this themselves. It might be beneficial to contact him and see if renting your points through this wholesaler would be a viable option for your family.

As for your investment, if you received a solid financial return on your costs to date through your stays over the past 10 years, then selling your points in this soft market may be an excellent option as any return you receive (minus fees) would be cash against the bottom line (and at this point in yourt pocket). Your BCV points are in demand now (just read the DVC boards ).

 

[DawnCt1]

You are wrong on so many levels. We own at DVC - SSR and am on the Boards every day. I would say 95% of the folks love their DVC!!

We never puchased it as an investment but as a prepaid vacation plan. We are now empty nesters and still enjoy Disney. But we are also aware that we have other options to vacation in many more places.

I don't know how you can say that the poster is wrong. Those who love their DVC purchases are the ones likely to post about it and discuss it. Those who are dissatisfied, vent on occasion and then "move on". Many people regret their time share purchase no matter where they are. If they didn't, there would never be any resales.
We can stay at Shades of Green for reasonable rates, walking distance to the Poly and no tax....for about what the annual fees of a DVC ownership would cost us. We can't cook or make breakfast which to be is a huge plus.

 

[Greysword]

While this is true, Central Florida and Southern California have *many* non-Disney timeshares that are significantly less expensive to buy and own, and are arguably as nice or nicer than the Disney resorts. The value proposition for DVC ownership makes the most sense if you *use it for Disney*. As soon as you go "off the reservation", you're spending more than you needed to.

I enjoyed your post, Brian, but I was hoping to clarify one thing. It is the concensus ont he DVC boards that a DVC timeshare makes the most financial sense if an owner stays in a DVC resort instead of using their points for the Disney Collection, Adventures by Disney, or the Concierge Collection. I'm not sure about trading into RCI/II. This does not mean visiting the parks or resturants on property is included in this equation.

It is just as viable to visit Universal, SeaWorld, or Kennedy Space Center for the day as it is for visiting WDW. WDW is cose to many of these, and any travel expense by car would be incurred at an offsite hotel, as well. In california, Anahiem is close to many of the sites in LA and striking distance to San Diego. Of course staying at Aulaui (sp?) in Hawaii during tourist season is likely to have a significant value, financially, compared to staying in a cash resort.

I just wanted to clarify my points a bit.

 

[Brian Noble]

We are finding out that it is nearly impossible to get the correct information from anyone at Interval International. Everytime you call you hear something different. I have a feeling that we are going to regret taking it over, but at this point, we just have to make the best of it.

I'd *really* encourage you to join TUG (www.tugbbs.com) and/or Timeshare Forums (www.timeshareforums.com). There are a lot of very smart owners at both places who can help you learn to make the most of your ownership.

Your BCV points are in demand now (just read the DVC boards ).

Interestingly, BCV is the only resort that's consistently been ROFR'd in the transactions tracked by the above-mentioned broker (and any cooperating offices) over the past several months. There is good demand for that resort.

http://www.timeshareforums.com/forums/disney/73303-disney-vacation-club-rofr-info-5.html#post386188

It is the concensus ont he DVC boards that a DVC timeshare makes the most financial sense if an owner stays in a DVC resort ... It is just as viable to visit Universal, SeaWorld, or Kennedy Space Center for the day as it is for visiting WDW.

Agreed. But you could own at Wyndham Bonnet Creek, or Marriott Cypress Harbour, or Hilton Grand Vacation/Sea World, or any of a number of other extremely luxurious timeshares to do those things, and the experience would be just as good---and maybe better---but significantly less expensive. If you are spending most of your trip doing "offsite" things, it would be cheaper if you owned an offsite resort, because you are not paying the Disney premium. Conversely, if you are spending most of your trip doing "onsite" things, then a DVC resort provides amenities and features that no offsite resort can match.

To put it another way: my wife and kids are going down in President's Week 2011 for a trip to Islands of Adventure, Universal, and Sea World. I didn't even put the Disney resorts on my list of exchange targets---instead I was looking strictly for a unit at one of the Hiltons. And my costs are the same to exchange into either, so it was an apples to apples comparison. If I were actually deciding to own between those two for a future of vacations that included mostly-Universal visits, it would be no contest; I could buy enough points for a 2BR in prime season resale at HGVC for about half of what it would cost to buy even at SSR or OKW.

 

[Greysword]

I agree, Brian. I think I was trying to communicate tat there are other viable options for a DVC timeshare, should someone get tired of WDW after several years (admittedly the reason for buying into DVC). Also, DVC does retain a good portion of its value, unlike many other options (we bought at $95/point in 2005 and would see a 67% return at $60/point, which isn't bad after 5 years). Disney is a premium, but I think retained value counters that at some levels.

 

[Sanchez]

There are also vastly increasing foreclosure rates on primary residences, and a large number of resales of such homes with drastically declining resale value, but that doesn't necessarily mean that home ownership is a bad idea in general. On the other hand, I will grant you that *borrowing* to buy a timeshare is usually not wise, and that buying from the developer---even for cash---is also usually not beneficial vs. renting on the open market.

As to resale values: part of that is that timeshare resales are still an inefficient market, part of it is the use of FUD (Fear Uncertainty and Doubt) on the part of the developers, a few developers have actively torpedoed the resale market (by not allowing some rights to transfer with sale), and part of it is that developer purchases are impulse buys in the first place at inflated prices relative to the underlying real estate value.

But, if you are buying resale rather than from the developer, you can take advantage of all of these things, rather than suffer them as consequences---and, at that point, timeshare ownership *does* provide an economic benefit vs. renting on the open market in many cases. I can assure you that's been true for me.

Finally, an aside on ROFR: Disney isn't propping up anything. Resale prices have fallen significantly during the current market contraction, despite the fact that developer pricing has held or gone up. At the same time, data provided by a broker on another site suggests that even in the face of falling prices, DVC is exercising ROFR less often, rather than more---in short Disney doesn't need more inventory, even at these lower prices. Indeed a strict economic analysis suggests that with ROFR, resale value is in an efficient market is actually slightly lower than it would be without it, because the rights-holder does not need to bid competitively for inventory. In an inefficient market, it improves value, because it brings more parties to the table. But, Disney has a relatively efficient secondary market in comparison to most other systems' products, with well-known brokerages and an ecosystem for resale.

But, the average person is not a timeshare landlord. Done right, timeshares are nothing more than a way to obtain lodging at a discount to rental market rates. And, that's still an economic benefit *provided that you'd take those vacations anyway.* The kicker is that most timeshare owners find that they end up vacationing more often, and end up spending about the same amount or more than they would have without timeshares while taking more vacations. Whether or not that's a good thing is left an exercise for the reader.

I agree that in the end a timeshare, in this case DVC, will end up costing a family more in the long run due to the "forced vacation."

As to the first highlight, I do not think it fair to compare a timeshare with a primary residence. We need a place to live and the comprison there is between rental and ownership. A more fair comparison is with vacation homes.

The second highlight summarizes part of the reason why most timeshare purchases are not prudent.

 

[Brian Noble]

I do not think it fair to compare a timeshare with a primary residence. We need a place to live and the comprison there is between rental and ownership.

Naturally. But, you'll note I'm using exactly the same analysis when it comes to whether or not a timeshare is a good idea---will it be cheaper to rent the vacation lodging you desire, or "own" it?

a timeshare ... will end up costing a family more in the long run due to the "forced vacation."

[scrooge]
Yes, heaven forbid one goes on vacation regularly! The shame! The humanity! Even wasting time posting on a discussion board dedicated to vacations should make you feel anxious! You should be using this time for billable work!
[/scrooge]

( for the humor-impaired, as well as anyone who does not bill by the hour.)

More seriously: *if* you are going to go on vacation regularly, a timeshare---purchased wisely---can help you save money doing it. If you would not be going on vacation regularly, you have no business buying one.

The second highlight summarizes part of the reason why most timeshare purchases are not prudent.

Not quite. It is why most timeshare purchases from the developer are not prudent. A different conclusion, to be sure.

I think I was trying to communicate tat there are other viable options for a DVC timeshare, should someone get tired of WDW after several years (admittedly the reason for buying into DVC).

Yes, but you are also tying up a significant amount of capital holding on to it. In most cases where you're "moving on" from Disney, you'd be better off selling (even at a loss) and buying into a system (resale!) that was less expensive, using the liberated capital for some other purpose.

 

[TriMom]

We have been researching DVC, but can't decide if it is right for us.
I know Dave Ramsey and Suze Orman are against them, and that many of the people who have them are glad they did it, so it got me to thinking..........

Ok, so this is my soapbox on this subject :

If you called into Dave Ramsey's show and said "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a boat"

Dave would say that you are in great shape and go enjoy that boat. Dave Ramsey boats - he talks about it often. Now let's look at the boat. You have fuel costs, maintenance costs, and dry docking costs (Dave lives in TN, he has to dry dock his boats). There are additional costs above and beyond the initial purchase of the boat. But to him, that is just part of "living like no one else"

New senerio: "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a timeshare"

Dave: "DONT DO IT! Timeshare are for suckers. They require more and more money every year. You will never use the thing. It is a waste of money to purchase a timeshare!"

Well here is my stance on it. I would regret a boat. We would take it out 1 maybe 2 weekends, and the thing would sit in my driveway for the rest of the year. I would be miserable with my boat. However, I love my DVC. I love the fact that for the price of a 10 day ticket, I can get an annual pass and go 2-3 times per year. I always have a trip planned, and I am in constant state of borrowing. I am using the heck out of my DVC. It was a worth while luxury purchase FOR ME. Just like Dave's boat was a worthwhile luxury purchase for HIM.

Will my opinion change in 15 years when I don't have kids at home- maybe, maybe not. But I know that my (theoretical) $30,000 boat wont have much value in 15 years either. Both have yearly maintenance costs, and both are purely luxury purchases. So I take the "never buy a timeshare" advice with a grain of salt.

 

[Buckalew11]

Ok, so this is my soapbox on this subject :

If you called into Dave Ramsey's show and said "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a boat"

Dave would say that you are in great shape and go enjoy that boat. Dave Ramsey boats - he talks about it often. Now let's look at the boat. You have fuel costs, maintenance costs, and dry docking costs (Dave lives in TN, he has to dry dock his boats). There are additional costs above and beyond the initial purchase of the boat. But to him, that is just part of "living like no one else"

New senerio: "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a timeshare"

Dave: "DONT DO IT! Timeshare are for suckers. They require more and more money every year. You will never use the thing. It is a waste of money to purchase a timeshare!"

Well here is my stance on it. I would regret a boat. We would take it out 1 maybe 2 weekends, and the thing would sit in my driveway for the rest of the year. I would be miserable with my boat. However, I love my DVC. I love the fact that for the price of a 10 day ticket, I can get an annual pass and go 2-3 times per year. I always have a trip planned, and I am in constant state of borrowing. I am using the heck out of my DVC. It was a worth while luxury purchase FOR ME. Just like Dave's boat was a worthwhile luxury purchase for HIM.

Will my opinion change in 15 years when I don't have kids at home- maybe, maybe not. But I know that my (theoretical) $30,000 boat wont have much value in 15 years either. Both have yearly maintenance costs, and both are purely luxury purchases. So I take the "never buy a timeshare" advice with a grain of salt.

I totally agree and I like Dave Ramsey. However, I think a boat is a much worse purchase than a reasonable amount of DVC points. I think if you get too many points, it gets expensive and probably not really worth it, lol.

I've had a boat. We enjoyed our boat. My DH sold the boat several years ago and sold it for a bit more than he bought it for. Very unusual in the boating world! And we had that boat for probably 15 years!

But if Dave doesn't enjoy Disneyworld vacations, he could not ever see the value of owning a DVC membership. If someone enjoys the beach and buys into a timeshare at the beach to use every year, they will enjoy it. IF they aren't over the head in debt--then who can enjoy anything, right?!

I bought DVC BCV resale and thought about it long and hard. I had many nay sayers. I've been through good and bad times financially since buying into it and am still happy we have it...no regrets.

If I needed to rent my points, I probably wouldn't do it on an internet site. I'd probably rent them to people I know. There is always someone wanting to go to WDW!

 

[eliza61]

Ok, so this is my soapbox on this subject :

If you called into Dave Ramsey's show and said "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a boat"

Dave would say that you are in great shape and go enjoy that boat. Dave Ramsey boats - he talks about it often. Now let's look at the boat. You have fuel costs, maintenance costs, and dry docking costs (Dave lives in TN, he has to dry dock his boats). There are additional costs above and beyond the initial purchase of the boat. But to him, that is just part of "living like no one else"

New senerio: "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a timeshare"

Dave: "DONT DO IT! Timeshare are for suckers. They require more and more money every year. You will never use the thing. It is a waste of money to purchase a timeshare!"

Well here is my stance on it. I would regret a boat. We would take it out 1 maybe 2 weekends, and the thing would sit in my driveway for the rest of the year. I would be miserable with my boat. However, I love my DVC. I love the fact that for the price of a 10 day ticket, I can get an annual pass and go 2-3 times per year. I always have a trip planned, and I am in constant state of borrowing. I am using the heck out of my DVC. It was a worth while luxury purchase FOR ME. Just like Dave's boat was a worthwhile luxury purchase for HIM.
.

Please don't even get me started on that money pit that we called a boat. My darlin' dh swore up and down, in and out that a boat was the answer to all our vacation problems. After 5 years it was either the boat or me ( and no I wasn't going to divorce him, I was going to strap him to the side and drag him through the Bemuda triangle. )

 

[perdidobay]

Ok, so this is my soapbox on this subject :

If you called into Dave Ramsey's show and said "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a boat"

Dave would say that you are in great shape and go enjoy that boat. Dave Ramsey boats - he talks about it often. Now let's look at the boat. You have fuel costs, maintenance costs, and dry docking costs (Dave lives in TN, he has to dry dock his boats). There are additional costs above and beyond the initial purchase of the boat. But to him, that is just part of "living like no one else"

New senerio: "Dave, I am debt free except my mortgage. I have my 6 mo. emergency fund. My paid for vehicles are worth about $20,000 right now. I am funding my retirement, and kids college funds. I came into about $30,000 of cash that I can spend on a luxury purchase. I would like to buy a timeshare"

Dave: "DONT DO IT! Timeshare are for suckers. They require more and more money every year. You will never use the thing. It is a waste of money to purchase a timeshare!"

Well here is my stance on it. I would regret a boat. We would take it out 1 maybe 2 weekends, and the thing would sit in my driveway for the rest of the year. I would be miserable with my boat. However, I love my DVC. I love the fact that for the price of a 10 day ticket, I can get an annual pass and go 2-3 times per year. I always have a trip planned, and I am in constant state of borrowing. I am using the heck out of my DVC. It was a worth while luxury purchase FOR ME. Just like Dave's boat was a worthwhile luxury purchase for HIM.

Will my opinion change in 15 years when I don't have kids at home- maybe, maybe not. But I know that my (theoretical) $30,000 boat wont have much value in 15 years either. Both have yearly maintenance costs, and both are purely luxury purchases. So I take the "never buy a timeshare" advice with a grain of salt.

Dave would probably tell you to grow up and act like an adult and put that 30K on your principal balance on the debt of your house.

But really, I agree with you, he has an obvious bias against something he doesn't personally like, and your example of the boat is spot on.


I've heard him tell people about timeshares, that they will grow tired of vacationing in the same place/same week, year after year, (that seems funny to me since he has been vacationing at the same lake house he owns for years and years - he loves to mention that he is broadcasting from "live from the lake house".

He also says if they grow tired of a timeshare they can't GIVE it away.

I admit, this will not always be the case, but I could sell my BWV and WLV points today for MORE than I paid for them 9 years ago.

It's as if he is unaware that there are timeshares like DVC around.

As I said before, anything that is a splurge that you can't really afford, is a bad idea financially.

 

[stichy]

I love my DVC. I'm also dying to add on more points. DH said maybe in a couple of years. DVC is the only type I would buy. My parents and sister have timeshares through Interval International and RCI and they hardly ever are able to use them. Plus they have a hard time trading them.

 

[Anjelica]

Reading the DVC boards might lead one to believe that that many people are happy with their timeshare purchases. I think that percentage wise there are very few. Many are too embarassed to say that purchasing a timeshare was a mistake. For some, the purchase may seem like a good idea for the first few years, then reality sets in.

I 100% disagree with this. We have never once regretted buying DVC and only wish we could purchase more. We have not only taken numerous vacations at our DVC resorts but also using points to stay before/after cruises from Orlando as well as using DVC points to take Disney cruises.

I would venture to guess that a majority of people who buy DVC are still happy with their purchase years later (for us that's 4+). I wish we had bought sooner.

 

[Disney Doll]

When we bought DVC 13 years agom, we did not look at it as a financial investment at all. We did look at it as an investment in family, friends and memory. Maybe "investment" is the wrong word, because it brings up a financial connotation.

I think many people have difficulty with timeshare pruchases ebcause they don't think it through. They do get suckered in.

Fortunately, I am married to Mr. "Research It To Death", who also happens to be a realtor. After we went to the DVC "spiel", where they plied us with hot fudge sundaes in an effort to catch us in a weak moment . However, we took all the information, DH asked TONS of questions (our guide earned his money!) and then we went home and really took a long look at our finances and had some in-depth discussions about our travelling.

For us, it made sense because:
~We knew we'd want to go to WDW least every other year
~We liked staying in nicer, larger accomodations
~We could budget for it without impacting any of our other financial obligations such as bill payment, mortgage payment and retirement savings
~We felt it would be a fairly "re-saleable" commodity in the event that we had a catastrophic life event happen which necessitated us selling it.
~The cost seemed reasonable
~The yearly fees were reasonable

We have never regretted our decision. We have enjoyed numerous trips to WDW over the years, with family, friends & alone. We have enjoyed exploring some of Florida around WDW as well. But I think our decision was made knowing full well what the rules and regs were, what our financial responsibility would be and what product we were buying. That is probably where those who bought timeshares and regret went wrong...they didn't actually know what they were buying.

 

[Sanchez]

When we bought DVC 13 years agom, we did not look at it as a financial investment at all. We did look at it as an investment in family, friends and memory. Maybe "investment" is the wrong word, because it brings up a financial connotation.

I think many people have difficulty with timeshare pruchases ebcause they don't think it through. They do get suckered in.

Fortunately, I am married to Mr. "Research It To Death", who also happens to be a realtor. After we went to the DVC "spiel", where they plied us with hot fudge sundaes in an effort to catch us in a weak moment . However, we took all the information, DH asked TONS of questions (our guide earned his money!) and then we went home and really took a long look at our finances and had some in-depth discussions about our travelling.

For us, it made sense because:
~We knew we'd want to go to WDW least every other year
~We liked staying in nicer, larger accomodations
~We could budget for it without impacting any of our other financial obligations such as bill payment, mortgage payment and retirement savings
~We felt it would be a fairly "re-saleable" commodity in the event that we had a catastrophic life event happen which necessitated us selling it.
~The cost seemed reasonable
~The yearly fees were reasonable

We have never regretted our decision. We have enjoyed numerous trips to WDW over the years, with family, friends & alone. We have enjoyed exploring some of Florida around WDW as well. But I think our decision was made knowing full well what the rules and regs were, what our financial responsibility would be and what product we were buying. That is probably where those who bought timeshares and regret went wrong...they didn't actually know what they were buying.

Despite my admitted bias I accept that there are those who believe that a timeshare purchase was/is a good investment (whether it be an investment in family or financially.) As I stated previously, if you are happy with the purchase then it does not matter what anyone else thinks. I have a road bike that is very expensive. To me, it is a good investment - not in the sense that it will increase in value, but that it satisfies a specific want.

However, I still believe that timeshare purchases are wrong for most people. Consider that a quick search reveals that approximately two thirds of Americans live paycheck to paycheck. I would argue that a luxury item such as a timeshare is a bad decision for anyone in this category (same for a vacation home or Mercedes Benz.) I would imagine that a much higher percentage would not be able to afford a timeshare if they suffered a short term job loss. Once you get to that point there are a host of other considerations. For a DVC analysis:

Do you regularly stay in deluxe accomodations?
Do you really think that Disney's deluxe accomodations are deluxe?
Will you likely vacation at Disney for many years to come? (from what I understand using points for other resorts is not good value)
Can you pay in cash rather than finance?
Do you want to subject yourself to the various rules and regs such as booking far in advance?
Will you take the time to rent points if you do not use them?

I would think that most people do not fall into this category. Add to that the nature of the timeshare industry. Why does so much of the industry rely on high pressure sales? (I have been on the DVC tour and while they claim not to be high pressure they certainly impose their will in other ways.) This tells me that timeshares are not a product that can be marketed in a traditional fashion. It also tells me that many purchases are made under that pressure.

The poster quoted above is likely the exception. They meet specific criteria that I would think very few people meet. They can afford it, they understand the rules and limitations, and it appears that they made an independent decision as opposed to being induced. What makes me cringe are those who claim that they "wanted to own a piece of the magic" or took the tour on a lark and immediately decided that the offer was too good to pass up.

With that said, I agree with the previous poster that if you have decided to make such a purchase the resale market is the place to start.

 

[ilovesugar]

Just wanted to jump in and say that we love our DVC and have never once regretted our decision.

I think that a lot of people who cannot afford a timeshare, but buy one anyway are the ones that regret it. But they are the same people who buy boats, jetskis, motorcycles...basically any luxury item that they cannot afford. These people who contiunually buy and sell things they cannot afford because they have to have them NOW.

Timeshares are not for everyone, that is the truth. But not all timeshares are alike, either. I like the point system that DVC has, it works well for our family. If we had to buy a particular week every year, we most likely would not have bought. We don't vacation like that.

And for the record, we have only planned one trip at 11 months out, and that is the one in Dec. because we are getting a Grand Villa. All of our other trips in the past how many years have been planned at 6 months out or later. So the question "Do you want to subject yourself to the various rules and regs such as booking far in advance?" does not stick and shows that you know little about how DVC actually works.

 

[Anal Annie]

Please don't even get me started on that money pit that we called a boat. My darlin' dh swore up and down, in and out that a boat was the answer to all our vacation problems. After 5 years it was either the boat or me ( and no I wasn't going to divorce him, I was going to strap him to the side and drag him through the Bemuda triangle. )

OK, OK, OK so can I complain here about the STOOOPID Redskins season tix that my DH INSISTS upon having every year (recently "upgraded" seats for a mere $375 add'l per seat). Talk about a bad purchase!! But that's MY opinion, not DH's.


I think everybody has some sort of vice that the rest of us can't quite "get". Sanchez doesn't "get" DVC / timeshares - IMO that's his problem. The important thing to us is that we love our DVC - he doesn't have to. We purchased our contracts with 1 master & 1 smaller contract so that if we ever decide we don't need / want all of our points we can sell off only a portion which is much easier to sell than larger contracts. We feel we made a good purchase that fits OUR needs, but certainly not Sanchez's needs. And I'm OK with that!!