Timeshare beware

We would really like to try a timeshare but we hear so many scams and the cost vs a hotel is not that great....I really would like to hear why people do this?

We bought our first one over 20 yrs. ago. Yes, we sat thru the developer razzle dazzle and bought in. Wish I had know of sites like Red week, TUG before we bought in. The one thing we do right is we bought it at a place we loved and go back to yr. after yr. Now a multiple owner, but still not only investing in but places we could rent, because of popularity, and we also enjoyed going back to. We never started off with the idea of making money on our purchases, but it has worked to our benefit. If you are interested in owning, the one thing I can't emphasize enough is BUY RESALE......Rent at some different resorts you find interesting(from owners) choose one you would go back to again and again if need be. Resale gets you pennies on the dollar verses developer prices. At a couple of thousand on a resale verses anywhere from 250.00 to 400.00 and up on a hotel for 7 nights makes it a no brainer.

You MUST ASK YOURSELF, am I prepared to MF's that will never go down and only rise, and will be a pain to sell, if you make the wrong choice. When we first bought in we were young, good jobs(now retired) and could travel at the drop of a hat, kids grown, etc. Now because of us doing our home work, we are able to enjoy our TS's and still travel. You have taken the first step in educating yourself by checking the forms. You will find all sorts of horror stories of people being scammed or suckered in. Just do your home work. GOOD LUCK

tomf353 wrote:

We would really like to try a timeshare but we hear so many scams and the cost vs a hotel is not that great....I really would like to hear why people do this?

The scams that you hear about are usually against current owners. If you are an owner, you can protect yourself by recognizing the elements of a scam. The other "scam" that some people consider a scam is the sale at a sales presentation. If you want to buy something, after doing weeks (or even months) of careful research, then buy one of the many resales available rather than one from a sales presentation.

If "[you] would really like to try a timeshare", then a good option would be renting from current owners. There are many rentals available and some for less than what the owner is paying in maintenance fees. Very rarely is there a scam against people wanting to rent from an owner. The scams are usually against the owners themselves.

And as for comparing the cost of a timeshare versus renting a hotel, it all depends on your tastes, needs, and finances. While renting a hotel is usually cheaper than renting a timeshare (or paying timeshare maintenance fees), many vacationers like the space and facilities of a timeshare such as full bathrooms, bedrooms, and kitchens as well as the facilities at the resort. Some don't mind paying the extra for such facilities, some prefer to have a basic motel/hotel and save a few bucks per night. Again, it's all personal tastes, needs, and circumstances.

tomf353 wrote:

We would really like to try a timeshare but we hear so many scams and the cost vs a hotel is not that great....I really would like to hear why people do this?

First, you should rent directly from an owner before ever even considering taking on the permanent obligations of annual maintenance fees as a timeshare owner. Timeshare may or may not actually be for you at all. Try before you buy. Understand very clearly in advance that buying is very easy --- but selling later certainly will NOT be nearly as easy.

Second, in my opinion, you should ONLY purchase a timeshare in the resale market from an existing owner looking to sell (...NEVER directly from a developer), and even then only after you completely understand exactly what you are buying. "Floating" weeks and / or "Points", for example, may not actually ever get you where you want to go, when you want to go there. Some people advise buying only a FIXED week at a specific place and time that you would likely want to go (and be able to afford to travel to) at that same time every year. There is lots to learn when it comes to timeshares. A very good site for a complete timeshare education is http://www.tug2.net, with 80,000 members. Good luck.