Would you buy a timeshare?

[charlottenian]

They are practically being given away now, I can pretty much get one for $50 and be responsible for the yearly maintenance fee, I am interested in one like this:

http://cgi.ebay.com/SHERATON-VISTANA-CASCADES-ORLANDO-FLORIDA-TIMESHARE-/140536861218?pt=Timeshares&hash=item20b8a65222

where you get a floating week, lockoff (allows for a configuration of two individual weeks at 1 bedroom rather than a week as a two bedroom).

Thoughts or experiences are appreciated.

[Carolina Husker]

Not in Orlando I wouldn't.

[Darth Urious]

I would look into just owning property somewhere like that... You can get a deal on that right now too, and you make the rules/schedule then...

[bredy087]

If I ever invested in property I better damn well own the whole thing.

[Epistaxis]

Why timeshare now when you could outright purchase something dirt cheap, since as an investment property you have nothing to sell of your own holding things up?

[Hawk]

like the idea of timeshare as you get the flexibility to trade and go to more than just one place

like the idea of just buying something because then it's yours!

so, in my opinion, it really matters what you want to do and how long you want to be doing it.

[cookinwithgas]

my inlaws and my wifes first (late) husbands parents have these. I've never heard them complain about the finances involved, but we both really like when they invite us to go to the beach for a week - this year it's the inlaws at Edisto. Last year they went to Williamsburg, Myrtle before that. The other grandparents have had us to Orlando and took the kids to Myrtle for our honeymoon. You do need to reserve where you want to go pretty far in advance from what I've seen.

[g5jamz]

Positives/negatives with timeshares/owning.

Our schedule shifts so much that we like to maintain flexibility and liquidity. A timeshare isn't an investment. It's a lease versus buying a new car. I do neither. I wait and see a good deal that meets my schedule and price range.

[jtnc]

I own one in Williamsburg, no complaints.

[natty]

I would look into just owning property somewhere like that... You can get a deal on that right now too, and you make the rules/schedule then...

Why timeshare now when you could outright purchase something dirt cheap, since as an investment property you have nothing to sell of your own holding things up?

Isn't hurricane insurance outrageous?

[bleys]

They are practically being given away now, I can pretty much get one for $50 and be responsible for the yearly maintenance fee, I am interested in one like this:

http://cgi.ebay.com/SHERATON-VISTANA-CASCADES-ORLANDO-FLORIDA-TIMESHARE-/140536861218?pt=Timeshares&hash=item20b8a65222

where you get a floating week, lockoff (allows for a configuration of two individual weeks at 1 bedroom rather than a week as a two bedroom).

Thoughts or experiences are appreciated.

If I ever invested in property I better damn well own the whole thing.

Positives/negatives with timeshares/owning.

Our schedule shifts so much that we like to maintain flexibility and liquidity. A timeshare isn't an investment. It's a lease versus buying a new car. I do neither. I wait and see a good deal that meets my schedule and price range.

this..

a few things to keep in mind when buying a timeshare and why they are going for cheap...

-A timeshare holds no equity, so you own nothing. a timeshare company has no need to take back timeshare deeds when they can simply draw up another contract with a new client. your deed holds no monetary value at all.

-It is a contract that can never be broken. when you pass away, it WILL go to your children and they have leverage to sue if maintenance fees are not paid.

-timeshares can be rented online and available in the same way you can find a cheap hotel from expedia, etc.

the TS industry is a scam. you shouldn't call it an investment, because one thing it is not is an investment.

[bleys]

I don't see why people just don't rent a hotel room.

spending 5-15k (or more) on a timeshare is one of the worst possible decisions someone can make.

[Darth Biscuit]

We looked at one a few years ago and thought that there was too much vague language in it and too much chance that they could raise the maintenance fees indefinitely.

My MiL has one we use sometimes but she pays for it... :D

[Kyle82]

spending 5-15k (or more) on a timeshare is one of the worst possible decisions someone can make.

I agree...it's stupid. I was in Myrtle a couple of weeks ago and they actually don't call it 'Time Share' anymore....i'ts 'Vacation Ownership.' :rolleyes: