OT: does anyone have a time-share and has it been a positive experience?

[LGBurns]

My husband and I have an opportunity to go in on a time-share with some very good friends. It seems like an excellent deal (the down payment is only $1400 plus they are waiving our first year's maintenance fees, so our upfront expenses will only be $700). We're seriously considering it, but I thought I'd check to see if anyone here can give us any advice. The company is RCI and the site is in Missouri, but, of course, we can exchange it if we want. I'm particularly concerned about being able to exchange for an area that is in high demand (like Tahoe or Hawaii or Europe). Also, the community we are buying into may be switching over to being run by the homeowner's association rather than a management company. That is making us a little nervous because we've never heard of that before. Anyone have experience with this?

[Laura]

My parents have a timeshare in Mazatlan with RCI that they liked very much. I must tell you though exchanging timeshares (if you are going at a popular time to a popular place) is very difficult. We wanted to use their extra weeks on Captiva Island over Christmas one year and were told we would have had to make our reservations a year and a half in advance. I also could not get to Hawaii when I tried to make reservations 3 months in advance. There wasn't a single opening on either Maui or Kauai for the 2 weeks I was looking for in August. I would question them seriously about availability. Otherwise my parents loved their place.

[JulieAnn]

If you can get into it for such a low amount it would be worth it. My husband and I bought one and paid a lot more for it (it's not on my list of good decisions made!), but we definitely have enjoyed using it to exchange with RCI. In fact, we traded to go to San Diego for next week.

[This message has been edited by JulieAnn (edited 05-21-2001).]

[Mandy]

I think time-shares are a good idea for people who really enjoy going to one place year after year, and who want the comfort of always knowing when and where their next trip will be.
My experience has been that for many who try and trade their share for a different, more tourist spot (like Hawaii or Cancun), that by the time they find the availablity they end up paying an arm and a leg for airfare. When they could have done a package (with hotel, air, transfers and tax) with a charter company for the same price as they are paying for their airfare alone.
We get these people that come in and have gotten a wonderful deal on a time share in Aruba, for example, and they are looking for airfare down. Well when they hear that they will have to spend $700 per ticket to get their family down there, their time-share doesn't seem like such a good deal.
It's just something to consider. Maybe for what you're looking at it would be a good decsion for your family. Just trying to give you all perspectives.
Mandy

[Jewel]

My husband owns a time-share with ARA. Mostly campground and smaller B & B-type places rather than condo. Main property is on the Oregon coast, kind of hard for us to get to for a quick weekend getaway, because its about a 5 hour drive. We also have an approximate 6 month wait for any exchanges to any popular spot.

When DH and I were on our honeymoon in Orlando nearly 2 years ago, we went to four different Time-Share presentations to earn Disney and Universal tickets during our stay. (Hey, 2 hours out of our morning, a free breakfast, and we got $400 worth of Mickey Tickets free! http://www.cookinglight.com/bbs/wink.gif ) If we were going to buy another time share it would have been in an area like that, where EVERYONE wants to go. Easiest place in the world to trade is a popular spot. Naturally, 3 days into our marriage we weren't going to hand over $10,000, but IF we were going to, that would have been the place.

Best advice I can give on timeshare? Make sure you really love the property you've purchased into, because you may not have an easy time exchanging it! If you buy it as a bargaining property only, like Orlando or Cancun, then you're in good shape if you're not crazy about the area. If that Missouri property is near Branson, it could be a bargaining tool. If not, then make sure you love to spend time there! http://www.cookinglight.com/bbs/biggrin.gif

[LGBurns]

Thanks so much, everyone! It actually is near Branson, I think--it's in the Ozarks. It is beautiful there, and I wouldn't mind going at all, but I am also hoping to be able to trade occasionally. Since we will be sharing it with friends, we would only use it by ourselves once every three years (one year the four of us will go together, one year they'll use it, one year we'll use it). This means it is possible for us to plan over a year in advance to exchange. Plus, if it's only every three years, we may want to make Missouri the ritual--it's really lovely (right on a lake in the middle of the Ozarks). As you can see, since yesterday I've thought more about it and think I'm sold on the idea. Thanks so much for your feedback, and if anyone else has further advice, I'd still love to hear it.

[coop]

We have owned a time share for the last 10yrs in Orlando and love it. It was the perfect Easter break when the kids were in school. We live on a chain of lakes in Michigan so now if we trade it is usually spring or fall. Ours is RCI and to get popular resort areas you usually have to plan 1 to 1 1/2 yrs ahead. We have successfully rented ours out when not in use too. We are very happy with the purchase.

[kentgirl]

We have a timeshare at Whistler and love it! When trading with RCI, the important thing to remember is how much "trading power" you have. You have the most trading power if you're trading a red week (in season) in a desirable location, and you trade at least one year in advance. If you have all these factors, then you'll probably have no problem trading for what you want. But you can only trade evenly. So if you only have a one-bedroom to trade, then you can only request a one-bedroom; red week for red week, and so on. Also, if your home resort a considered Gold Crown, that's even better! Whistler is considered highly desirable, and I traded for Hawaii next year at a 2-bedroom Gold Crown resort with absolutely no problem.

I think you'll enjoy your timeshare!

[KValley]

Linda,

My husband's folks have had a time share on the Washington coast- Long Beach- for about 12 years. They are so happy with it and consider it an investment well made. I don't know the company, but I will ask.

They spend 3 weeks every other year at their condo; the alternate years they spend in Canada, Idaho, Montana, Oregon. Of course, they could go anywhere in the world, but MIL won't fly, so they stick to places that are within a 12-14 hour drive, max. I know they reserve their off-site years at least a year in advance.

As I am reminded by MIL every time they go on vacation, someday the timeshare will be ours. http://www.cookinglight.com/bbs/wink.gif

[funnybone]

I have heard that trying to sell a timeshare is almost impossible. Also, if somebody leaves you one in a will, don't accept it as it will be a headache. I remember listening to a consumer advice show while living in Atlanta (Clark Howard - he's on in other parts of the country as well) and he was totally against them. Do your homework before buying one and do the math on the associated fees.

[LGBurns]

Thanks everyone! We do have red time and ours is a two-bedroom, but I don't think our resort is in a super desirable location. I'm not too concerned with being able to trade to Hawaii or Cancun or even Whistler so much--I'm more concerned with being able to trade at all. It sounds like we have enough points to trade to an equivalent resort somewhere else. Again, since we won't be using it every year, I feel like it's less of a commitment. Thanks for the heads-up, funnybone. I think I would be more concerned if I was paying full price for the down payment (our time share would cost $10,000 full-price, but we are buying a foreclosure so the cost is only what was still owed). I wish we could afford to buy-in somewhere like Whistler. Maybe some day.