Timeshare What Do You Think

bsk on 29/04/2015 - 09:19

I am just asking for opinions as we NEVER take family holidays and feel that JUST MAYBE if we had an allocated week every year we would? So if you have timeshare I would like to hear about how it works of doesn't work for you. I do realise it is not an investment but maybe it will make some nice family memories for us. thanks

Home & Garden

Comments

  • [Deactivated] on 29/04/2015 - 09:35
    +3

    Why not just allocate a week on the calendar and go on a holiday without the timeshare?

  • bsk on 29/04/2015 - 09:39
    -1

    yes, great idea, but if I have to find $1000 to take family away I know I will not do it. There is always something else to spend the $ on :-(

    • [Deactivated] on 29/04/2015 - 10:06

      Put aside $3 a day instead of buying coffee?

      Timeshares aren't free either. At least you can go somewhere different each time instead of the same old crap hole.

      • whodidthat on 29/04/2015 - 10:17

        You don't have to go to the same place each time, you never have to stay at your "home resort" if you don't want to.

  • whodidthat on 29/04/2015 - 10:02
    +2

    I've had timeshare since 1989, I bought several others in 2010.

    You need to make sure you buy into a good one, there are a lot of badly run ones out there.

    All of mine are in USA, originally because I lived in UK. But another reason being they are deeded much like a normal property, through the courts.
    They are freehold (no lease) and have lock-offs.
    Lock-offs mean even though you buy a week, you can break the unit up - usually into two sections, sometimes 3. That gives you 2-3 weeks to use per year instead of just one.
    For this, you pay the same maintenance fee.

    Never pay full price for a timeshare, always buy "2nd hand". New prices (from the resort/timeshare presentations) are highly inflated.
    You can usually pick up cheaper ones on ebay.com or sometimes a decent deal via a timeshare resales site.

    Even if you bought one in a particular place, it does not mean you have to go there - ever, you depsit that week (or weeks) with a timeshare exchange company (such as DAE). You they get to choose from the ever changing availability through the exchange company. You also get to take "bonus weeks" for a relatively low cost. Those weeks always change too - but you can't say "I want to go to………" if it's not on the list.

    If you use the system right, you can save a lot of money whilst getting decent accommodation.

    Message me if you want to chat about it.

  • [Deactivated] on 29/04/2015 - 10:23
    +1

    We have two weeks of timeshare and have had many positive experiences. One week is a fixed week during school holidays and one is a floating week which we can use any time of the year and if we use an exchange company we have the option of using it at any resort which has the availability that we want.

    I agree with the idea of buying second hand or from a well established timeshare resort who has weeks to sell that previous members have given back to the resort. The start up costs will usually be only a few thousand or less depending on the resort and the conditions of the sale. If you buy up in a new resort which is selling shares for the first time the start up costs will be much higher and there may be risk involved.

    You will be up for a maintenance fee each year. This cost is around $600 but it will vary from resort to resort. I don't know much about accomodation costs for a family for a week but I am guessing they would be more than the yearly maintenance fee.

    Let me know if you have further questions. I hope this helps.

  • whodidthat on 29/04/2015 - 10:58
    +1

    One of my purchases from 2010 cost me US$19, the other $1. Both sellers (they were companies) paid the closing costs - so I had no further expenses.

    I've just had a look on ebay, there are a lot of timeshare sales on there and the vast majority would allow anyone in Australia to purchase (even if it says may not ship to Australia).
    It is down to choosing the resort (particularly finding out the management company - which is easy to do in a search), along with if the unit has a lock-off facility (quite a few will have) this will be specified in listings.

    There are quite a few using the points system. I, personally don't like points and prefer to know what I'm getting (as in a week).

    http://www.ebay.com/sch/Timeshares-for-Sale-/15897/i.html?_f…

  • bsk on 29/04/2015 - 11:15

    wow I am amazed and confused and excited all at the same time. I will be messasge you whodidthat and pointscrazy can not beleive the prices I just saw on ebay. Just one question that comes into my mind is for you whodidthat - if you purchase from ebay USA do they have links to resorts in Australia? as at the moment I am not looking at taking overseas holidays? thanks

    • whodidthat on 29/04/2015 - 11:35

      ebay USA don't have resorts in Australia but you do get some on ebay AU http://www.ebay.com.au/sch/i.html?_nkw=Timeshare&_in_kw=1&_e…

      However, a lot of AU timeshare are older resorts (some going back to the 80's). We have stayed in most of them in Australia (as exchanges) and found a lot having dated interior but usually looked after.
      Just the other week, we stayed at Cedar Lake Resort. One of the dated resorts but very well looked after.

      As I said before, just because you own overseas, it does not mean you have to go there - ever. You simply deposit your time with an exchange company.
      The benefits of owning overseas are as I said above plus they are often newer resorts as well.

      In the past few years, we have stayed (all as exchanges, because all of my own resorts are in USA) at:

      Cedar Lake Country Resort
      Classic @ Australis Sovereign (this is the only one we didn't like)
      Tiki Village International
      Golden Shores Holiday Club
      Island Palms Resort
      Kyneton Bushland Resort
      Pacific Palms Resort
      Manly National Apartments
      Village Resort
      Club Noosa
      Freshwater Point Resort Broadbeach
      The Sebel Creswick Forest Resort
      The Links Lady Bay
      The Sebel Busselton
      The Sebel Palm Cove Coral Coast

  • mskeggs on 29/04/2015 - 14:39

    I guess the starting point is to decide if you like staying in resorts. As a rule, my family prefers a private house or a central hotel, but we have had some nice resort holidays.
    But for this reason, we would struggle to use even a week in a resort every year, and you must pay the maintenance fees regardless (although I note you can "bank" time with exchange companies).
    whodidthat, and other timeshare owners, can you give us a breakdown of what your share cost to buy, what it costs per annum, and what it gets you on an exchange site maybe with some links to real examples? Are there other costs (levied by exchanges, or the destination resort if you have swapped for it?)

  • buzymum20 on 29/04/2015 - 16:43
    +1

    We own timeshare at two resorts on Gold Coast, Beach House in Coolangatta and Mariner Shores in Miami. We purchased these weeks 9 and 8 years ago respectively and have had excellent value out of them. I'd suggest buying at a quality resort you would like to stay in and buy 'weeks' as a week will always be a week and points can vary from year to year and resort to resort. Also these are titled so you not only only own a share in an unlisted company, but own land too which you don't with points. Search 'Surfers Royale' which is a 14 floor timeshare in Surfers and was up for tender closing yesterday and had offers well before closing of 20 million. The owners of weeks there will all be given an equal share in that money. So a good deal if the owners of the timeshare choose to wind it up. I can't comment on buying overseas timeshares but the two we own are easy to get to, have excellent facilities and if we can't use them we would have no trouble renting them out ourselves and yes, you can do that. It's a bit like buying a house, make an offer- probably it will be accepted as many owners are getting older and can not physically get to the resort any more. Some vendors even list weeks at Mariner Shores for free, you just pay the legal costs of around $700. I saw a week at Beach House on Gumtree for $1 just a few weeks ago. We purchased through Royale Timeshares and it was quite good to have someone organise it all for us at no cost to us, and we also were given free RCI membership with that for 12 months. Beach House is a floating week and we've had no trouble using that in school holidays, but you can't get weeks 1, 2 or 3, these being prime time in January, with that and can only book school holidays times, 8 months in advance. Maintenance is around $700 for Beach House and $800 for Mariner Shores, and where else can you get a week in a 2BR apartment sleeping 6 opposite the beach in a prine location for that? Everything else in included except Internet but linen and cleaning costs as well electricity are all covered.
    Phew- what an essay! Hope this has helped.

  • [Deactivated] on 30/04/2015 - 08:49

    I have owned a 2 bedroom detached lodge on the banks of Loch Lomond, Scotland for 25 years. http://www.qhotels.co.uk/luxury-lodges/cameron-house
    It is in the grounds of a 5 star hotel, Cameron House and is a stunning location. I bought it freehold and it has paid for itself many times over. It is very high quality and is maintained immaculately. I have also stayed in other resorts all over the world by exchanging through RCI, sometimes obtaining 2 weeks for 1.
    A "change in my domestic circumstances" means I can no longer use it.
    That change also means I don't want any money for it.
    Let me know if you are interested.

    • mskeggs on 30/04/2015 - 08:54

      Ninjastud, you have private messages turned off.

      • [Deactivated] on 30/04/2015 - 15:48

        Sorted, thanks.

Login or Join to leave a comment
Login Join