anyone who cruises every bought a time share

[GlenandVal]

we were just away for 2 days and bought a timeshare and have 7 days to keep or cancel

 

has any one found this to be useful for people who cruise or money saving

 

i know we will be diamond members after our b2b in january

 

we re not sure if using a time share with cruising is a good investment or not

 

does anyone have any experience wiht this

[jjones]

I had a timeshare for 20+ years. The yearly maintenance fees kept going up and up and I didn't use my time very often. For me it was a waste of money - LOTS of money! I finally deeded it back to the timeshare management company because they had multiple restrictions on resale. These units depreciate in value, they do not appreciate. Just my opinion.

[maja651]

I think it depends on where you own the timeshare. We own 4 weeks at the Royal Resorts in Cancun, Mexico and the values have definitely APPRECIATED, not depreciated. We normally timeshare vacation, but when we don't, we are able to rent our weeks at $1600 per week, which is much higher than our maintenance fees. We LOVE our timeshares and wouldn't trade them for anything. This coming year will be our first time not going to Cancun to stay in our timeshare since 1999, as we have opted to go on our first cruise instead! The rental proceeds from the timeshares will help a lot!

 

Michelle

[critterchick]

I'm not sure what you're asking. Are you wondering if having a time share in addition to cruising is a good idea or are you asking about trading in your timeshare on a cruise?

 

If it's the first, it all depends on the type of timeshare as to whether you'll actually use it. We have a floating one - nominally it's in Palm Springs, but we can use any affiliated resort in the Starwood system. Every other year we can trade it in for Starpoints, which was one of the attractions - the cost of the # of points we get is far less than purchasing them, and they can be redeemed for hotel, airline & other bennies. So we're not locked into a single resort, which is something I wouldn't do - I need variety (your preferences may vary)!

 

We are going to investigate trading our interval in for a cruise next year. If the discount (it won't pay for the entire cruise) is equal to or greater than the annual cost, it's a good deal. I suspect, however, that it will not be. So then we'll have to find a place to vacation for a week. I can live with that.:D

[newmexicoNita]

There are many things to consider: yes, the maintainance fees continue to increase but so do hotel rates, etc. What you get from your time share depends on the location, and the company that you purchased from. We have a Hilton Grand vacations time share. Never would we think of selling it unless we really needed money. We paid it off about a year after our purchase. It is in Vegas; hotel rooms in Vegas have tripled in the past few years. We have done the fingures and feel we are still getting a good deal. We can use it for 1 week, 2 weeks or 3 weeks a year, depending. One week gives us a 2 bedroom, 2 bath, 2 weeks a one bedroom and 1 week a studio. did we buy it as an investment, absolutely not, are we enjoying it< yes. We choose to use it for Vegas but we can trade it for any location in the world. To trade does cost $149: still a good deal. When we use the 2 bedroom we invite out kids to join us, the 1 bedroom, sometimes a friend and the studio, just ourselves. As I mentioned, it is not meant to be an investment but more a convenience. Hope this helps a little. NMNita

[suezyq50]

We have had our timeshare for 15+ years and we love it. We rent it out if we don't use. It is not good for us to trade in. We bought resale through a realtor, if saved us at least 50%.

[Cruzman]

Time Shares? I once had a question such as yours and asked a much wiser man about them and he said that there are many pros and cons relative to the purchase and use of time shares, but in the final analysis one must only ask oneself the following question. Why is it that a timeshare purchased for nearly $20,000 today, can only fetch $2000 or less as a resale tomorrow? Think about it!

[GlenandVal]

Time Shares? I once had a question such as yours and asked a much wiser man about them and he said that there are many pros and cons relative to the purchase and use of time shares, but in the final analysis one must only ask oneself the following question. Why is it that a timeshare purchased for nearly $20,000 today, can only fetch $2000 or less as a resale tomorrow? Think about it!

 

"Are you wondering if having a time share in addition to cruising is a good idea or are you asking about trading in your timeshare on a cruise?"

 

 

thanks for all your replies My DH and I will have to think this w e will be Diamond members on RCCL after our B2b cruise in January on VIsion

yes I was wondering if it was a godo idea to have a timeshare and trade it in for a cruise yearly but now I dont know

 

 

thanks

[mom23guys]

I have looked into trding my timeshare in for a cruise. The cost basis for the cruise seems to be higher than the actual price I can get the cruise on my own. Maybe its the cruises I'm looking at or maybe it's because we have booked Carnival with a military discount. We didn't book through RCI because it really didn't save us any money and we'd lose the weeks vacation. You can get the discount on up to three cabins with one trade so maybe if you were booking the three it would be worthwhile. There are also penalties for canceling which go into effect shortly after you book, it's not the 70 or 90 final payment date. We have used our TS for trades in St. Maarten, Sedonna, San Diego and other places which makes it a pretty good deal for us.

[newmexicoNita]

We have had our timeshare for 15+ years and we love it. We rent it out if we don't use. It is not good for us to trade in. We bought resale through a realtor, if saved us at least 50%.

Resales are the way to go: actually we didn't do ours that way only because we knew we wanted Hilton and their re-sales do not go down. If we did a second one we too would go the way you did. I think time shares get a bad rap or is it wrap? Most who own them, love them; it's those who don't have one that blast them all the time. I don't know of hardly anyone who was sorry they purchased. I know there are a few, but not many. NMnita

[newmexicoNita]

Time Shares? I once had a question such as yours and asked a much wiser man about them and he said that there are many pros and cons relative to the purchase and use of time shares, but in the final analysis one must only ask oneself the following question. Why is it that a timeshare purchased for nearly $20,000 today, can only fetch $2000 or less as a resale tomorrow? Think about it!

not true: any timeshare purchased for $20,000 will sell for a heck of a lot more than $2,000? The original ones, about 30 years ago were selling for $2000 to $3000 and were not managed well. The newer ones are very different. NMNita

[Cruzman]

A google search of "timeshare resales" yielded 5,890,000 hits. I can't peruse them all, but it doesn't take long to learn that these sites claim that on average one can purchase a timeshare resale for 40% of the original purchase price in today's market. I guess that they could be lying. I also wonder how they remain in business since almost everyone who has purchased a time share is so extremely happy with their decision; just wondering.

[EJ'S MOM-MOM]

I purchased my timeshare approx.15 years ago in Orlando ( 1 mile from Disney World ) I bought it as a resale for $3500 (2 bedroom unit6/8 people) & have stayed there, traded into Vegas, Gulfport, Pocono Mts, Virginia etc. The maint. fee is far less than what I would pay for 2 motel/hotel rooms in any of these areas. Also if travling with kids great to have the kitchen, extra bath & TV especially if you run into rainy weather. Do I think it was a wise buy, you betcha. But would I use it to get a cruise "NO" I did not think after looking into the cruise exchange that it was worth it, can do better with a PVP or TA. But because I have it & belong to RCI I also can get extra weeks for friends, family & myself if I need them or want to bring along extra people.But never would I buy a timeshare for full price. I have never rented it out though but if I start cruising more maybe I will think about renting it. I could pass a bargain along to someone else as I would probably only charge the maint & guest fee. I am always on the lookout for travel bargains, just like we also own a 99 yr. lease in a campground at the Jersey shore. The prices for a hotel/motel at a shore resort is crazy ( approx. $1000. a week ) I can stay at the campgroung for 5 & 1/2 months for less than $1500. I feel that this was another bargain we found 16 yrs ago. Mind you we still had to purchase our own trailer to put on the site.

[newmexicoNita]

A google search of "timeshare resales" yielded 5,890,000 hits. I can't peruse them all, but it doesn't take long to learn that these sites claim that on average one can purchase a timeshare resale for 40% of the original purchase price in today's market. I guess that they could be lying. I also wonder how they remain in business since almost everyone who has purchased a time share is so extremely happy with their decision; just wondering.

2 words here, Cruzman, average and 40%. Many of those that do sell for much less than the purchase price were those bought before the improvements. Now we have the top hotel chains: Marriott, Hilton, etc building them. This makes a difference. Even at 40% that certainly doesn't come out to purchase $20,000; resale $2000. If I thought we could buy one that sold for $20,000 for $2000 or even $5000 I would grab about 3 more. Many people who purchase Time Shares own 2,3 or even 4 of them. Many people are now, who in the past were not interested are re-thinking their decision. You obviously do not want one, and that is fine, but for those who do want them, that is fine as well. Buying a time share is not meant to be an investment but a luxury. Luxury is a pretty strong word, I can't think of another that would fit. For many, the idea of having a living area as well as bedroom areas, cooking facilities, etc for a week long vacation is much more attractive than a simple hotel room for a week. That is why they are so popular in Ft Lauderdale, Orlando, Hawaii and Las Vegas. Yes, the price may seem high and they are, but figure what is happening to the price of hotel rooms in today's market? Again, no one here is trying to sell anyone a time share, the Op asked a question and some of us are giving our answers. We aren't here to set off a war of sorts. NMNita

[critterchick]

2 words here, Cruzman, average and 40%. Many of those that do sell for much less than the purchase price were those bought before the improvements. Now we have the top hotel chains: Marriott, Hilton, etc building them. This makes a difference. Even at 40% that certainly doesn't come out to purchase $20,000; resale $2000. If I thought we could buy one that sold for $20,000 for $2000 or even $5000 I would grab about 3 more. Many people who purchase Time Shares own 2,3 or even 4 of them. Many people are now, who in the past were not interested are re-thinking their decision. You obviously do not want one, and that is fine, but for those who do want them, that is fine as well. Buying a time share is not meant to be an investment but a luxury. Luxury is a pretty strong word, I can't think of another that would fit. For many, the idea of having a living area as well as bedroom areas, cooking facilities, etc for a week long vacation is much more attractive than a simple hotel room for a week. That is why they are so popular in Ft Lauderdale, Orlando, Hawaii and Las Vegas. Yes, the price may seem high and they are, but figure what is happening to the price of hotel rooms in today's market? Again, no one here is trying to sell anyone a time share, the Op asked a question and some of us are giving our answers. We aren't here to set off a war of sorts. NMNita

 

Well said, NMNita!

 

Furthermore, the concept of the timeshare is evolving - in the "old days" you bought a share of a unit that you had access to for the same week each year. Now, although you may technically purchase the same thing, you can (as we did) pick the week you wish to travel, the resort you wish to visit, or convert to a cruise.

 

I don't think the cruise conversion is a good deal - we'll use that in years that we can't think of anything else to do.

 

We did look at the purchase as an investment, and figured that it would take 10 years to pay for itself. Then I don't care if we have to give it away - it will have served its purpose, or we can keep getting the benefits from it.

[Cruzman]

2 words here, Cruzman, average and 40%. Many of those that do sell for much less than the purchase price were those bought before the improvements. Now we have the top hotel chains: Marriott, Hilton, etc building them. This makes a difference. Even at 40% that certainly doesn't come out to purchase $20,000; resale $2000. If I thought we could buy one that sold for $20,000 for $2000 or even $5000 I would grab about 3 more. Many people who purchase Time Shares own 2,3 or even 4 of them. Many people are now, who in the past were not interested are re-thinking their decision. You obviously do not want one, and that is fine, but for those who do want them, that is fine as well. Buying a time share is not meant to be an investment but a luxury. Luxury is a pretty strong word, I can't think of another that would fit. For many, the idea of having a living area as well as bedroom areas, cooking facilities, etc for a week long vacation is much more attractive than a simple hotel room for a week. That is why they are so popular in Ft Lauderdale, Orlando, Hawaii and Las Vegas. Yes, the price may seem high and they are, but figure what is happening to the price of hotel rooms in today's market? Again, no one here is trying to sell anyone a time share, the Op asked a question and some of us are giving our answers. We aren't here to set off a war of sorts. NMNita

 

OK Nita, not wishing to, but I am referring to my own experience (one I wouldn't want to repeat). I purchased a time share near Fort Lauderdale a few years back (Have 'ya heard of Bonaventure), paid nearly $20,000, $675 annual maintanance fee. Second year, maintanance fee up to $825; got discouraged and tried to sell it on my own. Got fabulous offers from $1200 to a maximum of $2000. I then checked with a number of resellers and was told that they might be able to get $4000 to $5000 if I was willing to wait 6 to 9 months. The payments over that period of time would just about equal the 2-3 thousand dollar difference. I dumped it for $2500 and chalked it up to a really dumb mistake. Am I the only one; absolutely not. In spite of your contention that everyone who buys a timeshare is elated, I could direct you to lots of folks who had experiences similar to my own. And yes, that's why there are so many timeshare resellers; because there are plenty of dumbasses out there just like me. Just want to warn as many as possible about what they are getting into before they make that mistake. A word to the wise; a fool and his money are soon parted.

[CateW]

We have a timeshare and everyone uses it but us; we have had it for almost 10 years and have never used it ourselves. The maintenance isn't that much and everyone enjoys it so we we will keep it (she says shaking her head).

[EJ'S MOM-MOM]

Cruzman,

Sorry you had such a bad experience with a timeshare. I can understand your reason for the way you think about them. :( But I always advise someone if they ask me as I said before NEVER buy at one of those presentations. Always buy from resale & research where you are buying & their maint. fee record. If you can you should go directly to the property in question to buy not from a middle man. I bought directly from my timeshare company. I had another one I bought the same way but do not need 2 now ( because do to circumstances I do not travel as much & I began cruising ), so I sold the other one to my brother this year & he has already used it. Before he bought it he used it alone & with me to see how it worked & is very happy with his decision. Dealing with timeshares is all in the knowing how to purchase & then how to use it. ;)

[newmexicoNita]

OK Nita, not wishing to, but I am referring to my own experience (one I wouldn't want to repeat). I purchased a time share near Fort Lauderdale a few years back (Have 'ya heard of Bonaventure), paid nearly $20,000, $675 annual maintanance fee. Second year, maintanance fee up to $825; got discouraged and tried to sell it on my own. Got fabulous offers from $1200 to a maximum of $2000. I then checked with a number of resellers and was told that they might be able to get $4000 to $5000 if I was willing to wait 6 to 9 months. The payments over that period of time would just about equal the 2-3 thousand dollar difference. I dumped it for $2500 and chalked it up to a really dumb mistake. Am I the only one; absolutely not. In spite of your contention that everyone who buys a timeshare is elated, I could direct you to lots of folks who had experiences similar to my own. And yes, that's why there are so many timeshare resellers; because there are plenty of dumbasses out there just like me. Just want to warn as many as possible about what they are getting into before they make that mistake. A word to the wise; a fool and his money are soon parted.

i am sorry you had such a bad experience, it sounds like you got royally taken. I don't know what you purchased for $20,000 but it must have been something quite special. We purchased for little more than 1/2 that, we do have the exchange privleges (spelling, my mind went blank) can use it almost any time of the year, have 2 bedrooms, 2 baths. Yes our fees do go up, but nothing like what you are saying> You sold it for $2500, did you sell to a broker, if so, any idea what they sold it for? I can assure you most who have bought in the past few years and we have many friends and relatives who have do not regret it one bit. To work, they do have to be used correctly. We normally use ours for Las Vegas as we love going there once a year; our daughter, like someone else mentioned, not only uses hers for all over the place, but gets great rates from RCI for friends and family. Tell me one nice resort with golf, horseback riding and swimming where you can get a 2 bedroom, 2 baths unit for $149.00 for one week? I think I could go on and on, but not everyone gets a bum deal. Now, as for trading a time share week for a cruise: bad deal, same as turning in hotels frequent stayer points for a cruise: also bad deal. NMnita

[bonniemari]

Yes-resale is the way to go. Ours is the same week every year and it is deeded property.

 

We bought ours 9 years ago on a resale and paid $2000 for it. And we have used it every year till this year. Main reason we didnt go this year-it is in Gulfport and got leveled (down to the slab) by Katrina. I really missed going there this year. We went to Vegas instead. Hopefully they will rebuild sometime in the future. There are so many homes down there that have people that work and live in Gulfport that need their homes rebuilt before they start worrying about vacation condos.

[EJ'S MOM-MOM]

Yes-resale is the way to go. Ours is the same week every year and it is deeded property.

 

We bought ours 9 years ago on a resale and paid $2000 for it. And we have used it every year till this year. Main reason we didnt go this year-it is in Gulfport and got leveled (down to the slab) by Katrina. I really missed going there this year. We went to Vegas instead. Hopefully they will rebuild sometime in the future. There are so many homes down there that have people that work and live in Gulfport that need their homes rebuilt before they start worrying about vacation condos.

 

Was your condo right on the Gulf, I stayed at a condo in Gulfport a few years ago it was right across the highway from the gulf it was really very nice. What was the name of your condo ??

[newmexicoNita]

Yes-resale is the way to go. Ours is the same week every year and it is deeded property.

 

We bought ours 9 years ago on a resale and paid $2000 for it. And we have used it every year till this year. Main reason we didnt go this year-it is in Gulfport and got leveled (down to the slab) by Katrina. I really missed going there this year. We went to Vegas instead. Hopefully they will rebuild sometime in the future. There are so many homes down there that have people that work and live in Gulfport that need their homes rebuilt before they start worrying about vacation condos.

Which one in Vegas did you use? Because we actually purchased in Vegas we usually use one of the Hilton Grand vacations, but this year we did RCI. We stayed at the south end of the strip, not terribly convenient, but everything was clean; our unit was perfect for us and we did have a casino next door. NMnita

[bonniemari]

We stayed at Caesars Palace but we did not use anything to do with our timeshare we just went on our own. I really have never investigated using another timeshare. Our condo is owned by its owners so we only have limited exchange priviliges with RCI. We have always just went to Gulfport cause we liked it some much.

 

Yes our condo was right across the street from the beach. It is the Chateau Charmant.

[newmexicoNita]

We stayed at Caesars Palace but we did not use anything to do with our timeshare we just went on our own. I really have never investigated using another timeshare. Our condo is owned by its owners so we only have limited exchange priviliges with RCI. We have always just went to Gulfport cause we liked it some much.

 

Yes our condo was right across the street from the beach. It is the Chateau Charmant.

Bonnie we have a similar situation: we can exchange with RCI but it doesn't work quite the way those who have RCI exclusively works. Our daughter gets really great second and third weeks a year through RCI, can grab an extra unit for friends, etc. Ours, is probably more like yours, we really pretty much have to stick with Hilton. I don't mind cause they have truely beautiful properties; I just wish sometimes, we did have a few more options. Anyway, I love the concept of Time Shares and like, so many other things, I believe they are coming into thier own. I just wish we had jumped sooner. NMnita

[Moonstone]

You should check out http://www.tugbbs.com/forums/ you can read posts for free or pay a small fee to join - very worthwhile for anyone who owns or is thinking of buying a timeshare. We have owned ours for nearly 25 yrs and dont regret a minute of it. Many family members and friends have used our "bonus weeks" to get 2 or 3 bedrm condos for less than $300 for a week. We only paid $2500 for ours (a 1 bedroom on the beach in St.Augustine FL) and we would probably get pretty close to that selling it. Its the $20,000+ ones that are a rip off especially when bought from the developer -you would never get your money back from resale -can usually get then for 1/10th of that on e-bay!

~Diane