I was often wondering if I was missing out on not having a timeshare because I had several colleagues that owned them -UNTIL… I started hearing the legal ads on the radio regarding legal help getting out of them. That’s when I knew I dodged a real estate bullet.
About 17 years ago, I purchased two timeshare resale weeks at the resort in Aruba we liked best. At the time, the annual maintenance fee was about $800, making it slightly over $100 per night for a week which was great. We used both weeks every year for 5 years, and when I sold through the same resale outlet, I made $1,200 on one week and $2,000 on the other. Never pay full price, always buy resale.
I bought for Sedona, Kona, and Waikiki where hotels run $300+, motels $200+. It is nice to pay $110 or so for a resort with a living room, kitchen, and amenities. If I liked to vacation in Las Vegas in August, probably harder to justify.
@JerryPinkas If you look up "Timeshare Traveler", there are dozens of examples. It can only be done with Worldmark, Wyndham, or Hilton. Hilton you need the most lucrative contract in Las Vegas, 3-4 weeks a year, to match the other two. I did find a unicorn, but it wasn't in my example. My Kona contract had an undisclosed points conversion of 2X, supposedly from a class action. Now I can stay in Hawaii for 3 weeks in a 1-Bedroom for $1,480. The Holiday Inn down the street charges that for 5 nights!
FOR YEARS I've had family/friends/companies try to sell me a timeshare. I'm not that stupid. Now those family and friends are asking how can they get out of their timeshares.
Well, I agree with you most people I’ve ever talk to always are trying to get rid of them not necessarily happy with them after they’ve had them for a year or two. It’s always a struggle to make those payments even if you’re not using it. Thanks for watching. Glad you enjoyed this helpful video.
Most timeshares are on a point system. You’re not tied to one specific week a year. You might have priority over which weeks depending on amount paid. The maintenance fees are ridiculous. I sold my timeshare back to the developer at 20% of what I paid. That’s better than selling it yourself. I used mine for 15 years before calling it quits. Oddly, hotels got more expensive from inflation when I sold my timeshare. The best value was exchange system when I traded points to stay at DVC (Disney World).
Also if the timeshare holder dies it passes onto the heirs of their Estate and they have a short time after to Decline the Timeshare or they will be stuck with it.
Had a timeshare for like 20 yrs We love it and we can move it to any week you like at any point plus you can bank the week and move it over to up to 3 yrs away from now to use later on Yes you pay fees but that’s fine as they are always amazing places when you are there plus you can move it to a different resort anywhere in the word yes you pay that resort for the time there but it’s not expensive for the week most of the time that’s paying for the cleaning team while you stay End of the day pay for what you get and it’s great Never selling ours ever
Hey Jerry- Now I know what it is like to live in Florida, we just got our home insurance renewal and the premium went up 77% from last year, insane. BTW we live up in Toronto Canada.
The most attractive reason for looking at timeshares is to take advantage of cheap stays at a resort, watch the required 90 minute presentation and ask them to justify the economic wisdom of such a purchase afterwards.
That's a great question! It's important to do thorough research on timeshare exit companies to understand their affiliations and ownership. Transparency is key in this wild industry!
The Airbnb Meltdown Collapse Of Short Term Rentals - th-cam.com/video/W4-irn8M97w/w-d-xo.htmlsi=h5BeoUMdjZPjVo8t
I was often wondering if I was missing out on not having a timeshare because I had several colleagues that owned them -UNTIL… I started hearing the legal ads on the radio regarding legal help getting out of them. That’s when I knew I dodged a real estate bullet.
About 17 years ago, I purchased two timeshare resale weeks at the resort in Aruba we liked best. At the time, the annual maintenance fee was about $800, making it slightly over $100 per night for a week which was great. We used both weeks every year for 5 years, and when I sold through the same resale outlet, I made $1,200 on one week and $2,000 on the other.
Never pay full price, always buy resale.
I bought for Sedona, Kona, and Waikiki where hotels run $300+, motels $200+. It is nice to pay $110 or so for a resort with a living room, kitchen, and amenities. If I liked to vacation in Las Vegas in August, probably harder to justify.
Wow, $110 for a resort? That’s like finding a unicorn in the wild! Who knew vacationing could be so wallet-friendly?
@JerryPinkas If you look up "Timeshare Traveler", there are dozens of examples. It can only be done with Worldmark, Wyndham, or Hilton. Hilton you need the most lucrative contract in Las Vegas, 3-4 weeks a year, to match the other two. I did find a unicorn, but it wasn't in my example. My Kona contract had an undisclosed points conversion of 2X, supposedly from a class action. Now I can stay in Hawaii for 3 weeks in a 1-Bedroom for $1,480. The Holiday Inn down the street charges that for 5 nights!
FOR YEARS I've had family/friends/companies try to sell me a timeshare. I'm not that stupid. Now those family and friends are asking how can they get out of their timeshares.
A friend has a Marriott timeshare and likes it. He’s the only person I know with a timeshare that isn’t trying to get rid of it.
Well, I agree with you most people I’ve ever talk to always are trying to get rid of them not necessarily happy with them after they’ve had them for a year or two. It’s always a struggle to make those payments even if you’re not using it. Thanks for watching. Glad you enjoyed this helpful video.
Most timeshares are on a point system. You’re not tied to one specific week a year. You might have priority over which weeks depending on amount paid. The maintenance fees are ridiculous. I sold my timeshare back to the developer at 20% of what I paid. That’s better than selling it yourself. I used mine for 15 years before calling it quits. Oddly, hotels got more expensive from inflation when I sold my timeshare. The best value was exchange system when I traded points to stay at DVC (Disney World).
Also if the timeshare holder dies it passes onto the heirs of their Estate and they have a short time after to Decline the Timeshare or they will be stuck with it.
Had a timeshare for like 20 yrs
We love it and we can move it to any week you like at any point plus you can bank the week and move it over to up to 3 yrs away from now to use later on
Yes you pay fees but that’s fine as they are always amazing places when you are there plus you can move it to a different resort anywhere in the word yes you pay that resort for the time there but it’s not expensive for the week most of the time that’s paying for the cleaning team while you stay
End of the day pay for what you get and it’s great
Never selling ours ever
Hey Jerry- Now I know what it is like to live in Florida, we just got our home insurance renewal and the premium went up 77% from last year, insane. BTW we live up in Toronto Canada.
The most attractive reason for looking at timeshares is to take advantage of cheap stays at a resort, watch the required 90 minute presentation and ask them to justify the economic wisdom of such a purchase afterwards.
We took over a timeshare from aging parents. HUGE mistake!
Truly appreciate you taking the time to share your story here with others so they can see what it’s really like to own a timeshare
do you really own any property when its attached to high and rising property taxes? Taxes you have to pay to live on property that you own
If you like an HOA, you will love a timeshare.
Are the "timeshare exit" companies really owned by the timeshare companies?
That's a great question! It's important to do thorough research on timeshare exit companies to understand their affiliations and ownership. Transparency is key in this wild industry!
Why is this crap even legal?
Can you donate it to a charity?
Most charities will not take these because of the additional transfer fees and maintenance fees that have to be paid.