Have you ever owned a time share? I never have, but I know people who do. I don't think it's all the rage like it used to be, but some people enjoy it. I think you'd save more money by booking trips as they come up. Well, I should say, I would. Plus, I'd feel like it was a waste if I didn't use all of my allocated time. I can't get away too often, so I guess such a thing isn't really geared toward someone like me. We had a chance to visit one a while back. They offered a free mini vacation stay to let people check it out, as long as you went to a seminar type thing. I just don't think it's for us. What say you?
I have not owned a Timeshare all though I have stayed at one a few years back. I don't think I would get my money's worth if I owned a Timeshare apartment. It would be a lot less expensive I think to just get a hotel when I need one. ;'
No I haven't and even though there are now - in some countries - laws that give time-share owners slightly more protection than they used to have - I have to be honest and say that its not something that I would ever contemplate doing either. Mainly because there are just way too many pitfalls with time-share - in fact so much so - that anyone considering this option would be very wise to think very carefully before parting with any money - especially as investing in a life long holiday entitlement for a set time every year - generally comes at a high price with a lot of extra undisclosed mandatory costs - for example - on top of the initial outlay there are yearly taxes - as well as yearly maintenance fees for property upkeep - the amount of which can be anything from $500 - $1000 with regular annual increases - plus a yearly membership and exchange fee for those that wish to swap or trade their holiday weeks. Which when bearing in mind that all these extra costs are not only compulsory - for life - even if the holiday weeks are not used - but more importantly - its highly unlikely that you would ever see a return on the initial investment - particularly as time-shares are almost impossible to sell on and the end result is more often than not a life long heavy financial burden - opting for pay as you go holidays is not only way more appealing - but generally cheaper and much more cost effective in the long term - as well as being a whole lot less hassle to.
The main problem with timeshares is that they are hard to sell. If you are in a position where you need money...good luck selling your timeshare. I have some friends who own a timeshare that they have been able to make prettygood use of, and some relatives that have one as well. I think if you plan carefully you might be able to do Ok..but I would think long and hard about purchasing one.
An uncle in the US bought a time-share in Boracay, the most popular beach resort in the Philippines. He goes there once a year and his children go by themselves once or twice a year. When the last time we met, he admitted that it is cheaper to just book in a hotel or any classy accommodate in Boracay than owning a time-share which is very expensive, the amount he spent can already buy a house in Metro Manila.
It's a good trick and good investment. I never tried it but my uncle used to invest his money that take him to the way of profit and he also enjoy at his vacation time. Seems quite money saving too, honestly i am also interested but don't have money to buy a timesharing property.
Timeshare seems so dated, it's a wonder they still exist! As the older generation pass on and the younger generation comes of age, I strongly believe that nobody will want to keep buying these in years to come. I've heard about and almost got roped in to getting into timeshare in the past. But truthfully speaking, it's not something that appeals to me at all.
I do own a timeshare, but mine is deeded for life so I can pass it on. They can be good value as an investment, but these days they have to be flexible as people do want to try other places. Many have reciprocal schemes. Mine does hold its value as it's in New York City, which is why I chose it.
Hehe @Taraa you sound a little put out by that LOL Do you sell timeshare LOL?! On a serious note though, maybe if I have a lot more money, I'd be a bit more interested. Although, with more money, I'd probably opt to buy my own holiday home over timeshare. IDK it just seems so....dated? I just don't like it
Log In! My uncle having ownership of timeshare properties. He is not interested to sell as he is happy with his decision. And of course if had lot of money i would love make things easy for me. May be not seems dated but its not a wastage of money LOL... So if you are not in loss, would love to give it a try
Hehe @Taraa, i'm glad it's working for your uncle I don't think it's a waste of money, as such; it's just not for me. I suppose it's just a case of different folks, different strokes LOL I take it you'll one day take over your uncle's LOL
