Anyone involved in a Timeshare? Pros/cons?

newdadkel · 06-28-2011, 02:10 PM

Looking at getting into a timeshare with Hyatt but not sure if it is a good idea, or if there are better alternatives that someone could suggest. A friend of mine has been with Hilton for the past 18 months and loves it, but do not know anyone with Hyatt.
Really looking for something that is family friendly since we have two young ones under the age of 5, at least for the next 5 years or so.
Interested to see what you guys have done, and any other good options that you might recommend.

Freakazoid · 06-28-2011, 02:47 PM

99.9999% of the time timeshares are a horrible idea.

I looked into them a long time ago, there's many many fine lines, and catches associated with it. (fees, the way you're able to sell/transfer, etc etc) It can become very expensive for something that you don't even own.

E90SoFlo · 06-28-2011, 03:18 PM

They are great, you just have to understand what you are getting into, and read up, do your homework and understand what they are.

If you fit into the mold of a timeshare, you will be very happy.

pmeloche · 06-28-2011, 09:14 PM

I have a timeshare at the Welk Resort in San Diego, CA. I love it. There's a yearly maintenance fee and I get to spend two weeks in a 5-star resort in expensive California. I get free airfare because I use my frequent flier miles so my only expense is a rental car and food. I can also give up my two weeks and select a different location on the planet for a modest fee.

My sister has had a timeshare with Hilton for the last two years and she loves it a lot.

Good luck.

newdadkel · 06-29-2011, 09:35 AM

Thanks for the input. Hope to get out in the next couple of months to visit with the resort.

TooManyIDs · 06-30-2011, 09:11 AM

You should focus on the resale market. A Hyatt property would still likely command a premium, but resale prices are easily 1% - 20% (depends on location and season) of what a developer will try to get you to pay.

Each developer has specific rules, like right of first refusal, around resales, but there are so many on the market, that they can't buy up their own inventory.

If you get a property tour, from their sales team, you may be excluding yourself from having certain ownership rights transfer in the resale.

Timeshares are not investments, do not expect any principal back from what you buy.

The maintenance fee should not exceed what you can rent the same property for on a weekly basis.

Do your research here

Timeshare User's Group

UncleWede · 06-30-2011, 06:06 PM

I "bought" one about 15 years ago in Palm Springs. Still haven't been there. . .

I used it to establish some credit, plus was lured into the idea of Interval International (to trade for the ones in Hawaii and Mexico, with your own pool on stilts above your room)

I think I pay $120/yr for maint so it's just something I've never taken advantage of yet. Looking more into using it for weekend get-aways with the old lady now that my son is old enough to stay with his brothers.

pmeloche · 06-30-2011, 07:58 PM

Quote:

Originally Posted by UncleWede

I "bought" one about 15 years ago in Palm Springs. Still haven't been there. . .

I used it to establish some credit, plus was lured into the idea of Interval International (to trade for the ones in Hawaii and Mexico, with your own pool on stilts above your room)

I think I pay $120/yr for maint so it's just something I've never taken advantage of yet. Looking more into using it for weekend get-aways with the old lady now that my son is old enough to stay with his brothers.

Interval International is pretty good. RCI is also very good.Did you at least rent your weeks since you never go there?

UncleWede · 07-07-2011, 01:43 PM

Quote:

Originally Posted by pmeloche

Interval International is pretty good. RCI is also very good.Did you at least rent your weeks since you never go there?

Out of sight, out of mind unfortunately. I was told I could get BUCKS if I was able to reserve my time during a golf tourney, then rent it out. Just seemed like too much hassle.

pmeloche · 07-07-2011, 08:58 PM

Quote:

Originally Posted by UncleWede

Out of sight, out of mind unfortunately. I was told I could get BUCKS if I was able to reserve my time during a golf tourney, then rent it out. Just seemed like too much hassle.

For a fee (around 30%-40%) most resorts will rent it for you. Sometimes the rental income pays the yearly maintenance fees.

AngelinIsRich08 · 07-09-2011, 08:28 PM

Timeshares are stupid. Seriously, why spend the money on that when you could go to a nice hotel for a lot less money and no headaches.

pmeloche · 07-10-2011, 10:02 PM

Quote:

Originally Posted by AngelinIsRich08

Timeshares are stupid. Seriously, why spend the money on that when you could go to a nice hotel for a lot less money and no headaches.

Where were you when I bought mine? You could have saved me a lot of money.

06-28-2011, 02:10 PM	#1
newdadkel Private First Class 60 Rep 192 Posts Drives: 2011 X6M CBM Join Date: Nov 2010 Location: Texas iTrader: (0)	Anyone involved in a Timeshare? Pros/cons? Looking at getting into a timeshare with Hyatt but not sure if it is a good idea, or if there are better alternatives that someone could suggest. A friend of mine has been with Hilton for the past 18 months and loves it, but do not know anyone with Hyatt. Really looking for something that is family friendly since we have two young ones under the age of 5, at least for the next 5 years or so. Interested to see what you guys have done, and any other good options that you might recommend.
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06-28-2011, 02:47 PM	#2
Freakazoid Captain 188 Rep 962 Posts Drives: Saturn Redline Join Date: Dec 2009 Location: Pittsburgh iTrader: (0)	99.9999% of the time timeshares are a horrible idea. I looked into them a long time ago, there's many many fine lines, and catches associated with it. (fees, the way you're able to sell/transfer, etc etc) It can become very expensive for something that you don't even own.
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06-28-2011, 03:18 PM	#3
E90SoFlo Banned 217 Rep 2,669 Posts Drives: E90 335i Join Date: Jun 2011 Location: Naples, FL iTrader: (9)	They are great, you just have to understand what you are getting into, and read up, do your homework and understand what they are. If you fit into the mold of a timeshare, you will be very happy.
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06-28-2011, 09:14 PM	#4
pmeloche Lieutenant Colonel 24 Rep 1,604 Posts Drives: 2013 F25 X3 xDrive35i Join Date: Feb 2008 Location: Montréal, Canada iTrader: (0)	I have a timeshare at the Welk Resort in San Diego, CA. I love it. There's a yearly maintenance fee and I get to spend two weeks in a 5-star resort in expensive California. I get free airfare because I use my frequent flier miles so my only expense is a rental car and food. I can also give up my two weeks and select a different location on the planet for a modest fee. My sister has had a timeshare with Hilton for the last two years and she loves it a lot. Good luck. __________________ Patrice 2013 F25 X3 xDrive35i Vermillion Red
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06-29-2011, 09:35 AM	#5
newdadkel Private First Class 60 Rep 192 Posts Drives: 2011 X6M CBM Join Date: Nov 2010 Location: Texas iTrader: (0)	Thanks for the input. Hope to get out in the next couple of months to visit with the resort.
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06-30-2011, 09:11 AM	#6
TooManyIDs Private 0 Rep 90 Posts Drives: 2022 BMW 530i Join Date: Aug 2007 Location: Plano, Texas iTrader: (3)	You should focus on the resale market. A Hyatt property would still likely command a premium, but resale prices are easily 1% - 20% (depends on location and season) of what a developer will try to get you to pay. Each developer has specific rules, like right of first refusal, around resales, but there are so many on the market, that they can't buy up their own inventory. If you get a property tour, from their sales team, you may be excluding yourself from having certain ownership rights transfer in the resale. Timeshares are not investments, do not expect any principal back from what you buy. The maintenance fee should not exceed what you can rent the same property for on a weekly basis. Do your research here Timeshare User's Group __________________ Al
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06-30-2011, 06:06 PM	#7
UncleWede Long Time Admirer, First Time Owner 18430 Rep 9,426 Posts Drives: G01 X3 M40i Dark Graphite Join Date: Jun 2005 Location: Oxnard, CA iTrader: (0)	I "bought" one about 15 years ago in Palm Springs. Still haven't been there. . . I used it to establish some credit, plus was lured into the idea of Interval International (to trade for the ones in Hawaii and Mexico, with your own pool on stilts above your room) I think I pay $120/yr for maint so it's just something I've never taken advantage of yet. Looking more into using it for weekend get-aways with the old lady now that my son is old enough to stay with his brothers.
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07-09-2011, 08:28 PM	#11
AngelinIsRich08 Banned 64 Rep 708 Posts Drives: '11 X5M, '09 CTS Join Date: Jan 2011 Location: St. Louis, MO iTrader: (0)	Timeshares are stupid. Seriously, why spend the money on that when you could go to a nice hotel for a lot less money and no headaches.
	Appreciate 0 Quote