TimeShares: To Have, To Hold, Or …….

H

hardee

New member
Back in another time, another life (before C-Dory), and we were looking for great new ideas for travel and saving money, we came across this really great idea, buy vacation property that was mobile. Vacation, in Hawaii this year, Canada next, New England in the fall and Mexico in the winter, with Europe and the South Pacific on the horizon. Why not? All kinds of great new places, 4 and 5 star accommodations, one low price and only a travel fee, well, and then there was an annual maintainance fee which covered everything.

So it seemed like a good idea then. Not sure that it still isn’t a good idea in away, but priorities have changed some. Enter C-Dory cruising, smaller blocks of get away time, and increased hassel of flying vacations. The TimeShares are less appealing, and getting used less so options and priorities need to be established and considered.

Currently we have two timeshares. One in Hawwaii, on Kaui, and one in BC, Okanogan area.

I would like to hear some opinions on how and why for:
1. Keeping the times shares, either one or both
2. Renting out the use of either
3. Selling either one, and how and why
4. Anyone interested in going to either place in 2011?

Both places are great, and IMHO they are worth going to. They are also transferable to use in many different places around the country or the world. The difficulty is that the use time has decreased and we are having to rethink what we want to do with them.

I’m open to suggestions, ideas, and comments in any direction.

Thanks for your feedback.

Harvey
SleepyC :moon

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are they paid for? that's the first question because it controls so much. if paid for what would it cost to replace if you change your mind? If not paid for will it generate enough rental income to pay for its self? if it will pay for its self is now the time to sell and generate the most profit? Or is it going to continue to loss equity? or will it go up in value in the future. answer these questions first ( to yourself) then decide what to do. if you still want to sell find a agent that specializes in time shares, that's not me.

We have been thinking about time shares so we can dive different areas every year. I think that for what we want in our vacation, low crowds, off the beaten path, no bars or fancy pools, quiet after dark etc.. that most time shares are not for us.
 
Hi Harvey likewise I have a timeshare at Pacific shores in Parksville, it is attached to RCI with some 4000 resorts. I was really not sure if it was worth it but have figured out now it probably is if you use it. Go somewhere often. Mine is useable for as little as one night somewhere or up to the limit of my points. No restrictions. A bit cumbersome to use but am getting the hang of it. Also have learned it is really good for last minute trips, not so good on specific week and resort sometimes. I'm ok with mine now. George
 
Tom, Thanks for providing some good questions. I will have to cover some of that. For one thing, Yes, they are both paid for except the annual maintainence fee, of course, which is kept paid off when due.

George, One of ours has RCI connections so it is usable in places like (are you reading this Tom?) Belize and, I think Fiji. The other is through Shell Vacation Club and has several hundred trading options as well.

Through one or the other there are places like the Oregon Coast, Lake Chelan, Reno, Whistler, San Diego, Orlando and thousands of other places. I'm like Tom, we like quiet after dark, and more of the uncrowded places.

Harvey
SleepyC :moon
 
In the past I have run across websites listing timeshares for sale at greatly reduced prices. Are there issues with buying this way? What are the recommended marketplaces for buying and selling timeshares?

Warren
 
"What are the recommended marketplaces for buying and selling timeshares? "
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Warren, I am not sure of these yet. Have just begun to look into the options. That is part of the reason for the post here. Hoping to draw some from the wealth of knowledge and experience or our esteemed C-Brats.

Harvey
SleepyC :moon
 
We gave an interval ownership (like a timeshare, but you own a piece of the property, rather than the right to use it) to our daughter and son-in-law last year. We used it to go a lot of places with RCI and Trading Places, but found that since we retired, we just go where we want and were less concerned about a week here or a week there. The last couple years we were giving the kids the exchange weeks. It took months to get things put in their name, especially dealing with the state of Hawaii regarding the deed. I'm not sure if it would be the same situation with a timeshare, and I have heard of some scams with resales (don't pay for any "sales fee" in advance). The best bet would be to contact your particular property management to see how resales are handled; find out what the "transfer fees" amount to; see if they have a resale agent.

We went to a lot of great places by exchanging, but your tastes and traveling styles change with time. We did find that trying to exchange into a specific place at a specific time didn't always work, but it was fun to talk to an exchange agent and say, "So, what else do you have?" Now with the exchange info on the internet, you can peruse at your leisure and switch from the Caribbean to Hawaii with a click. Depending on your travel style, it can make sense or be a drain. When we bought ours, a couple weeks on a beach anywhere was quite an incentive.

In years past, we did buy a couple RV resort resale memberships - turned out to be a good deal for us and the previous owner was happy to get out of the maintenance fee plus get some cash. Later, we sold two of those, and it was a fairly easy transaction, going through the particular resort.

I saw resales in the travel magazines when we used to subscribe, so I'd guess there is a market. Good luck with your decisions.

Best wishes,
Jim B.
 
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