Own a timeshare? Please tell me about it.
 

We went to a timeshare presentation this past Saturday and bought into a "points program" timeshare in San Francisco. We were told that SF is a very popular destination and that we shouldn't have any trouble trading it for another vacation spot anywhere in the world year after year. I'm hoping that some of you here who own a timeshare would be willing to share their positive AND negative experiences. I have a three day right of recision, in case I change my mind. Thanks for any advice.

Do a search for timeshare sales and rentals on the web...from my experience, you will find the same timeshare rented (without the commitment) or sold for a fraction of the price,

run screaming

I agree with Nos.........ahhhgggggg I cannot say it, but run!!!!!

Are these opinions from personal experience or anecdotal? Do you now own or have owned a timeshare? The one person I talked to who was very positive about ownership has had his for 8 years. I'm looking for a second and third opinion from owners. My first intinct was to run away also until I spoke to an owner ( a relative, not an employee of the timeshare company) and he just gushed about the benefits. The only drawback, he says, is if you buy and never use it.

Exactly where is it, what is the complex name, and what is the company?

One of our divisions: http://www.rciholidaynetwork.com/

I'll echo the "make sure you use it" advice. You'll have to pay taxes and maint fees either way.
Another option is you can rent (on your own or through the "holding" company) your time segment or swap for another location and/or time slot. There may be a charge for doing so.

They can be a good deal, as long as you don't want to trade out for a different location or timeslot - or let someone else use your timeslot. The sister-in-law had a nice timeshare in Ormond Beach (just a few miles up from Daytona), and while her week there for herself was a good deal, if she wanted to bank her week, give it to someone else that year, or trade out to another location for that year, each part of it cost her a few hundred dollars. So if she wanted to do anything but stay at the place for the week, it would cost her more than a really nice hotel room at any other location for a week.

I have points enough for a two bedroom, one week stay at any timeshare in the world through RCI but my "home base" is in SF at the Donatello Club, Suites at Fisherman's Wharf, Inn at the Opera, Peacock Suites in Anaheim and the Kona Coast resorts on the big island. The SF properties are really nice places (I visited them yesterday). Supposedly, since I'm an owner there, I can easily trade those properties for a fee of $139 domestically or $179 internationally each time. So, it'll cost me per year, the annual maintenance fee and taxes, plus the trade fee.

Timeshares can be great, but follow the rules:

1) Buy where you plan to stay. NEVER buy with the plan of trading. You may get stuck.

2) Stay with a BIG name. Go upscale. Marriott and a few others have upscale, well maintained timeshares.

3) You can save about 30% buying from a reseller.

I have friends with a two week Marriott timeshare condo on the beach in Maui. It sleeps 8 and is beautiful. They have 4 kids and love it.

i looked into time share, but being family-less it would be a stupid idea. but one thing i did notice, is that you can find preowned timeshare for less money. alot less money.

I've been looking into timeshare resells for a while and know about the good deals there. However, most of the stuff I found are in areas that are hard to trade, which is why I think they're up for sale. There's lots of inventory in Orlando and even Tahoe so great deals to be had there but who wants to vacation at the same spot year after year? I guess some people do but not I.

We have one in Stowe VT. at the Von Trapp complex and resort. It really is nice, we can use it any time between april 1 and june 30th for a week. It cost $950.00 a year to maintain it and have it avalible for that time frame. If you want the trade deal it goes to 1500.00 a year. It was given to us in to cover a debt. I won't tell you how much but, I can say the rental for those weeks does not cover our costs. It has been on the market for 5 months at, ready... 3500.00 bucks. It's waste, use the cash and go and do want you want.

Oh, by the way we are excepting offers;)

Wow. Sorry to hear about that Rick. I guess "location, location, location" applies to timeshares as well. I do know that Conde Nast Traveller reported San Francisco as the top US city for tourist destinations.

Check out http://www.tug2.net/

More info than you could possibly need.

Re: Own a timeshare? Please tell me about it.
 

If you plan on using your time in SF, keep it. If not, switch it for a location you will likely use every year. Trading can be a major PITA.

Yes, I do plan to use the SF property for weekend stays and entertaining friends and relatives. I also have rights to the Kona resorts as that's owned by the same company, Shell Vacations Club.

Thanks for the link as well. I was on that last night and found a few resells in SF but they were all asking more than what I paid the company. I think those owners are taking advantage of the high real estate prices in the Bay Area.

I'VE had one for 20 yrs and love it. My family, and now my children and their families, have been all over the world with it.
I have a place at Orange Lake Country Club, next to Disneyland in Florida. Because of its location, it is one of the most requested locations in the world. I have never had a problem trading it for any place. I just call up, tell where I want to stay and if there is an opening that week, I get it. No waiting for someone to swap since there is a waiting list for a week at Orange Lake. AND that is the secret to getting a GOOD timeshare.
If you plan on using it to travel, it does not matter where you you buy it as long as it is high on the request list. If it is not high on the list, then you are faced with long waits on your approval until there is a request for your place for your week, or you will have to pay for using the other place.
ASK questions about these conditions.
In Florida, you get a "DEED" for you week in your unit, and the state will step in and run it if the Corp. fails. Friends of mine had one for years that the state run because the developer went under. This protects you from the developer going bankrupt, leaving you owning nothing. This is important, exspecially if it is a NEW development. I don't know what the deal is on the west coast.
Good luck.
Terry Hastings

I own one, also in Stowe VT. It's a nice place, but we have it under contract to sell end of May. Had for 7 years, used it maybe 4 of those -- in those years it was an ok deal at best. Rents for less than my costs of ownership. Traded once via RCI for a nice place with small fee, but more often than not could not find anything I wanted when I had time to trade. Sell price gets me out at a loss, but stops the hemorraging.

My advice is save your money and rent someplace when you go on vacation. Then, you'll always get what you pay for. That's my plan from here on out. I think it only makes sense if you go to the same place every year and expect to continue doing so....

Easy to get into, tough to get out of. For the cost, fees, taxes, domestic and international "transfer" fees, I'd prefer to have a choice of where I want to go every year.