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Timeshare

post #1 of 8
Thread Starter 
After my recent trip to Maui, I am soooo tempted to buy into a timeshare, despite the obvious perils of property owned in common.  Does anyone have experiences with this ownership device, pro or con?
post #2 of 8
Quote:
After my recent trip to Maui, I am soooo tempted to buy into a timeshare, despite the obvious perils of property owned in common.  Does anyone have experiences with this ownership device, pro or con?
Why not take out a second mortgage and buy a property? Good investment I'd bet. My parents did a time share, and didn't like the idea of having to share with other people (no matter how high end you go, people can always be slobs, as we learned). So they bought a property in Portugal by the ocean, really nice. I'd consider buying if I were you, if you can hack it. In the long run, you will vacation better and it will turn out to be a wise investment.
post #3 of 8
Jill and I talked about it a little bit... one thing that makes it more appealing is that some companies are setup so you can use your time at your place... or anywhere else they have properties. I think that is more sesible if you KNOW you will use it every year. ...but I'd run the numbers carefully. We discussed it in Aruba last winter and right now I'm guessing those values are way down - ridiculous when you consider that they've had one missing girl compared to... how many in Miami the past month? Seriously - want an island vacation? Go to Aruba - cheap, wonderful and incredibly safe compared to any US destination despite the media hype.
post #4 of 8
Quote:
Jill and I talked about it a little bit... one thing that makes it more appealing is that some companies are setup so you can use your time at your place... or anywhere else they have properties.  I think that is more sesible if you KNOW you will use it every year. ...but I'd run the numbers carefully.  We discussed it in Aruba last winter and right now I'm guessing those values are way down - ridiculous when you consider that they've had one missing girl compared to... how many in Miami the past month? Seriously - want an island vacation?  Go to Aruba - cheap, wonderful and incredibly safe compared to any US destination despite the media hype.
Aruba is great. So is neighboring Curacao. Both have fabulous deals on fine watches as well as booze. I'm sure other things too, but I only care about fine watches and booze.
post #5 of 8
I'm a licensed real estate agent, but not in Hawaii, so please don't construe this post as a solicitation to do business. (Required disclaimer.) If you're truly sold on the idea of "interval ownership", please do yourself a favor and run the numbers very, very carefully. Especially note the ongoing maintenance fees, etc. If you still think it is a good ideal AC, don't buy one from the marketers. My bro-in-law spent three or four years traveling the country selling these project and the mark-up is astounding. Better to track down one of the re-sellers out there. You'll find their ads on cable tv. They buy, or find buyers for timeshares, at prices far, far below what you were quoted at the site. I've seen people buy top-notch stuff for 30 cents on the dollar by avoiding the first seller.
post #6 of 8
Quote:
I'm a licensed real estate agent, but not in Hawaii, so please don't construe this post as a solicitation to do business. (Required disclaimer.) If you're truly sold on the idea of "interval ownership", please do yourself a favor and run the numbers very, very carefully. Especially note the ongoing maintenance fees, etc. If you still think it is a good ideal AC, don't buy one from the marketers. My bro-in-law spent three or four years traveling the country selling these project and the mark-up is astounding. Better to track down one of the re-sellers out there. You'll find their ads on cable tv. They buy, or find buyers for timeshares, at prices far, far below what you were quoted at the site. I've seen people buy top-notch stuff for 30 cents on the dollar by avoiding the first seller.
I was about to say the same thing - I know a few people who have bought second hand, and they have gotten great deals. it seems to be like a car, as soon as it is sold it drops half its value.
post #7 of 8
I ran the numbers years ago, and it seems like you'd get "nickeled and dimed" to death by the annual fees, mainenance fees, housekeeping fees, etc. Is this not the case?
post #8 of 8
If you can buy a choice property at half price or less, Lindsay, the nickles and dimes don't hurt so bad.
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