Time Shares - Pro/cons

I don't trust anyone who sells timeshares! We've stayed at a couple & sat through the presentations. We did this just to get the free $150 they were paying us to sit through them. They do a hard sell. They prey on the disadvantaged. I truly believe they size people up, look at wardrobes, possessions (jewelry, purses) and assign a sales person based on that. They don't care if one can afford it or not, they just want to sell! I think they are slimey. We had to say multiple times, "we are not buying one, there is nothing you can say to convince us, just stop wasting our time." This happened to us at Wyndham Bonnet Creek in Disney, on their property. I wonder if this is where you went. We stayed there b/c it's really nice & very inexpensive. For $75, we said we didn't have time to listen to a presentation. Then they offered us $150, just like that, to listen to a presentation so we said sure. I swear I saw people signing contracts who based on the cover couldn't afford it, or didn't understand what they were getting into. (I don't judge a book by it's cover, but I guess in this case I did). They used the emotional sell (wouldn't you like to spend more time with your family, in case something happens, instead of waiting for the future). These people are ruthless. So...all that being said.......make sure your decision is based on your own situation & finances & do not let those people do a slick sale on you.

Don't do it! You will be required to pay maintenance fees/taxes as long as you own the timeshare, even if you are not using it and those fees can and will increase without your knowledge or input. Instead wait a year and take the money you would be paying for the timeshare and put it in a savings account - at the end of the year take a vacation with that money! If you are not convinced by me or the other posters below, follow Rachel's advice and go to redweek.com and and look up the Disney/Wyndham properties to see how much those individuals are now selling them for. You will be shocked how many people are trying to sell their timeshares because timeshares are generally the worst investment you can ever make.

dont. do. it.
we are stuck with ours. maintenance fees are ridiculous, cant sell it, cant donate it.
pisses me off every year we have to pay the fees and taxes on it.

Bad investment unless you get it for almost free from some other poor soul who is trying to sell their worthless purchase.

Good job for not falling victim to the "buy on the spot" pressure sale. We had a timeshare, and sold it (and were lucky to!). My husband had paid something like $14k for it at the presentation and we sold it for a whopping $300 or something. They have NO resale value. However Disney may be different. I have a friend whose family owns Marriott shares in Hawaii, and it's a powerful trade in their market. For example, we bought when it was a "red" week value, but we were reclassified and couldn't get exchanges in the popular locations at the convenient times. You should only probably buy in a place you want to that actual resort every year (or every other year if that's your ownership). Don't plan on exchanging. Like the previous poster said, maintenance fees, property taxes, and exchange fees make the annual cost as much as paying out-of-pocket as a comparably nice hotel package. You can always check Redweek.com to see what timeshares are going for in the secondhand market, or what they cost to rent, if you want the "benefits" of the spaciousness of the timeshare without the commitment. I hope this made sense! Good luck!

I just wanted to post on the Disney Vacation Club, since I don't know anything about the Wyndham. Some pros/cons I didn't see listed yet: If you have the initial investment money (don't have to finance it), as we did when my in-laws died in 2004, we got what I thought was a great value (180 pts for $11K and maintence varying between $500-700/year for 48 years). The downside is the length of time to commit those fees. In our 6 years of membership, we've been able to trade for 10 days in Maui (just hubby & me); 5 days in Palm Desert, CA, 6 days in Huntington Beach, CA, Disney 3-day cruise & 3-6 day stays at 4 different Disney properties for our family of 4. I'm a planner, so I usually use miles or points through reward programs for airfare, car rental & food. I have NEVER had to use a waiting list or been unable to book what I wanted, though I have 1st/2nd choices of dates & accommodations handy when I reserve. I've traveled at all times of year, booking anywhere from 2 to 6 months ahead, depending on how popular I expected it to be. Other advantages with DVC I don't see listed is the ability to have your own kitchen to save on meal costs, free DVD player/use, "kids' club" center/activities, various Disney perks/discounts, and some recent improvements. For example, now instead of trading for a whole week to go to Hawaii, you can trade in smaller increments. I don't know if this is Disney-negotiated, but staying at "trade" properties through Marriott or whatever, they didn't bug us about THEIR timeshare since we were already DVC (non-Disney guests said the sales folks were relentless with them). One last downside, if you prefer staying at the Value resorts (All Star, Pop Century) - DVC points can't be used for these.

If I had it to do again I wouldn't.
The amount we pay in "maintenance fees" and property taxes increases every year. At this point for the amount we pay in maintenance fees we could stay someplace nice. It really isn't saving us any money.
We've been trying to sell it for a long time, and these things have essentially no resale value.
Yes they are nice, and you can expect good quality. However, for us the negatives out weigh the positives.
Also, if you do decide to buy DO NOT buy from a presentation. You will pay 2-3x's as much. If you really decide to buy figure out what you want and go on line. I know first hand of people paying 25-40,000 for theirs and finding them for sale for 8,000-10,000 or less!
Just like you would with any major investment, shop around and do your homework!!

I love my timeshare but I bought it close to home. However, with the economy and such we are struggling and I'm wondering how we are going to pay our fees this year. Right now they are only about $400.00 per year but to us that is alot. We have ours at the Grand Geneva Resort in Lake Geneva, WI. It is a 5 star Resort with a World Class Golf Course and unless we call 6-9 months in advance, we can't get in when we want. However, we can go to disney whenever we want with our exchange. We usually can get a great last minute deal for under $300.00 for the entire week without having to spend our points. That is something else you have to consider Weeks or points. Points are more flexible and you can stay for shorter periods than a week. If you are really interested, please let me know and I'd be happy to talk to you about our time share for a lot less than what you can buy "new". I would do it again if I were better off financially. But that is the million dollar what if!

I wouldn't!! I In-laws just got suckered into one and somehow convinced their 4 children (including my husband) to participate with it. So every year for the next 8 years we get to pay $190 a year and then ontop of that another $160 for the maintance fees. (they decided to divide the yearly amount by 5 couples). Then ontop of all this we all have to somehow decide where we are going to go and when we are going to go. My husband and I are the only ones with children (2 and 1 on the way) so it makes it more complicated with that. Honestly, my husband and I are really not looking forward to this, but how do you tell your parents no. Haha.

Good luck on your decision.

We have had our Disney Vacation Club membership for three years. For the first two years we went to Disney World and stayed at the Wilderness Lodge and the Animal Kingdom resorts. We also stayed at the Vero Beach Resort.
This year, we went to Disneyland and stayed at the Grand Californian. We are also using our points to go to Kauai, Hawaii in November and we have booked a cruise for the Mexican Rivera next year on the Disney Wonder.

Things to consider:
-There is a yearly fee to pay. They don't do a good job advertising this additional expense and it is potential thousands of dollars depending on how many points you buy.
-Plane travel costs.
-Ability to 'trade' your points so that you can go to non disney spots. Disney has to wait for a RCI member to want to go to disney for there to be an opening. When I called for Hawaii, I had tried before so I was shocked when it was available.
-the need to plan travel way in advance. This was the hardest thing for us. We didn't plan more than three months in advance so thinking way in the future is difficult but necessary if you want to get where you want to go.

The upside? We are able to stay at hotels and locations we would never 'treat' ourselves too.

Jill~ you are right. I forgot about the kitchens and they do make a very big difference.

Disney does a good job also letting you know that you have this membership by adding perks to your trip (discounts at stores and restaurants/ special events).

I would only buy a timeshare if you can purchase it outright and I would probably buy a 'used one'. Then you only have the yearly fees and those fees, though hefty, are not as much as staying in the resorts you have access too. Example, the Grand California runs about $400.00 (without any discounts) If you stayed 7 nights like we did that would be $2800.00. Our dues were $1300.00. In addition we still get to go to Hawaii and next year on the cruise.

We are still happy but share some of the concerns your previous responses mentioned. Good luck!

We own a Westgate timeshare (near Disney) and I have mixed feelings about it. The problem with most timeshares is the maintenance fee. You pay $500 or more a year - in addition to your initial investment. If you use a week other than your week or stay at a resort of than your resort, you have to pay an additional fee. On the up-side, I stayed in a BEAUTIFUL 1 bedroom condo in Park City for a week for less than I would have paid for 1 night at a hotel. Plus, we bought a 2-bedroom lockout, which means we can stay in a 2-bedroom for 1 week or a 1 bedroom for 2 weeks. My sister has a timeshare at Disney. It was less than ours, but hers is only a 50-year ownership. However, they earn points that they can use whenever they want, however they want. If I remember correctly, they can also use their points at hotels around the country (maybe the world). I'm sure other timeshares have point instead of weeks, too. If you are not always traveling on the same week, it might be better to find a timeshare with points. Also, timeshares are next to impossible to sell (if you are interested in buying at Westgate Towers in Kissimmee, let me know and we can talk).
Good luck!

About 10 years ago I bought a Hilton timeshare. My husband and I loved it, until they raised the yearly Maintenance fee. Every year it went up and eventually we were paying $600 a year plus our monthly fee for the actual timeshare. We both decided we could pay for a nice hotel once a year at this rate and save money. We sold the timeshare at a HUGE loss, but I was glad to get out of it. Think very carefully about it. It always sounds wonderful in the beginning, until you write out a check!! Good Luck!

We bought one that is different than all others. We went through Global Advantage Travel (aka GCI). It was $7800 for a lifetime membership. We get 5 stars a year that translate into 5 off peak weeks in a one bedroom for up to 4 people or group the stars to upgrade for free. We used to use 4 stars to go to Mexico for 2 weeks peak. It cost us $89 per week. We have a $400 maintenance fee...but only if we use it for that year. So when we had financially bad years for awhile, we never paid a dime since we didn't use it. We trade into available rooms. GCI also owns a few places themselves and those are easier to get into. Yes, planning is needed, but not always the longest depending on the season that you are trying to get into. We paid outright for the TS and have been happy. We have a condo that allows us to have a kitchen and so we eat cheaper and healthier than at a regular hotel. We figured out that we save about $1000-1500 per trip than staying at a hotel or all-inclusive and that includes all of our TS fees and airfare, food, etc. It just takes time to make up the money that you spent. We have sat through a number of TS presentations and most of the people admit that they can't come close to matching what we have and the flexibility that we have. It does not cost us anything more to go out of the country either.

Just make sure you can take lots of trips at that same time every year (we don't have set weeks, but most do) and want to go there repeatedly and have the money for all of the maintenance costs.

We own a timeshare through Hilton and our deed is in Las Vegas (it was the least expensive compared to Orlando or Honolulu). For Hilton, you're essentially buying the points and are not buying a specific week. We bought it when we were expecting our first child knowing having more space and a kitchen would be best with a family than hotel rooms. At the same time, we really enjoy traveling to cities and found that many timeshares don't have properties in cities, so we were able to buy points on a every other year basis, and that gives us a little more flexibility. Granted, when we don't use Hilton or an RCI trade, we're paying for our travel and accommodations. The fees are about $600, but we pay them every other year.

We do have a couple of regrets. We did not really think about or do research about who we were buying with. The Hilton properties are beautiful, but there aren't as many compared to Marriott or Sheraton. Because timeshares aren't considered a real estate investment, your deed depreciates rather than appreciates (like a car). So, if you're really serious, then buy a resale unit. There are TONS available.

Because there aren't as many Hilton properties in places we wanted to travel, we have traded for RCI properties, which require fewer point for a bigger space compared to Hilton. We have used our trade to go to Kauai and Maui and stayed at great properties.