can this timeshare thing work?

[vash]

with the crazy cost of living here in the bay area. we were brainstorming:

how much is a lowend timeshare? can you buy the entire year? if you get the whole year for a quarter mil, that would be a deal. free housekeeping, utilities, furniture, yardwork, appliances, upkeep....

[Jims5543]

And new neighbors every week. You would never get tired of them. That is a brilliant idea!!

[vash]

....free wireless internet, cable TV!

a lightbulb burns out, and you just call it in.

and if i do it with a good friend, and i want to go on vacation, i just have to move my stuff into his place, and trade out one -two weeks for something somewhere else, and POOF! no hotel cost...plus i think the sales person would wet himself if we buy two fullyears. we would get a discount.

[Jims5543]

Hmmm.. There is a timeshare in Hollywood Beach, Florida, right on the ocean and a 1 bedroom unit is going for $5000 a week. You might be on to something.

[Big Ed]

The association fees can be quite outrageous. Be sure to consider the whole cost of ownership.

[fastpat]

Originally posted by vash
with the crazy cost of living here in the bay area. we were brainstorming:

how much is a lowend timeshare? can you buy the entire year? if you get the whole year for a quarter mil, that would be a deal. free housekeeping, utilities, furniture, yardwork, appliances, upkeep....

Timeshares are for selling, not for buying. I've never met anyone that was happy with theirs, or didn't get rid of it at some point.

[pbs911]

Originally posted by Jim Cesiro
Hmmm.. There is a timeshare in Hollywood Beach, Florida, right on the ocean and a 1 bedroom unit is going for $5000 a week. You might be on to something.

That would place the purchase price at $510K, then you would solely responsible for management fees (i presume these include HOA costs, property tax, insurance,). A quick search shows a periodic payment of $350 but it did nto state how often.

That said, there are plenty of 1 bedroom condos on the ocean in Hollywood, Fl for under $300k.

[RickM]

Originally posted by pbs911
A quick search shows a periodic payment of $350 but it did nto state how often.

Likely the annual maint payment for each week owned. Actually that seems like a low number.

[onewhippedpuppy]

Stay away, far far away. Timeshares are easy to buy, much harder to sell, not at all a good deal.