re: Thoughts on timeshares

I vividly recall a few years back sitting dumbfounded as my parents, who are far from being well off, proudly announced at a big dinner (that I was paying for) that they had invested all of their savings in a timeshare. I wasn't looking for inheritance but this is money they will need to live in the coming years. They bragged to all present how I was "going to inherit" the timeshare contract. Never once asked me if I was the least bit interested. I just know that I am going to be paying for them later in life and I just can't wait to find out what kind of damn contract they have gotten themselves into with this thing. I asked to see the agreement but they never would let me have a copy. No clue how bad this is going to be.

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They're for poor people who can't afford their own vacation home.

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I guess I could dissect the economics of spending $200,000 or more on a condo at the beach that you only inhabit 2 to 4 weeks out of the year but I'm guessing it would fly over your head.

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If you look at it as prepaid vacation you'll be fine if you use it.

If you think it is a real estate investment you can make a profit on then LOL.

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Exactly. Basically this should be the mindset.

I know someone that has a timeshare in Orlando and they use it for Disney, and they love it. Also, I believe a girl I know's family has one somewhere (Colorado maybe) that they use for skiing, and it works for them.

The main thing is your confidence in how often you'll actually use it.

stay away from weeks, even floating ones, buy credits that can be used anywhere, anytime, any size unit, for as many days as you have credits, from 2 days to unlimited , credits that can be used for cruises and air fare to package deals.

They can work if you do your research and planning. Bought one 12 years ago when I was 23 because my wife loves to travel. We get three weeks a year. Each week ends up working out to about $800-$1,000 for a 1 to 3 bedroom condo considering maintenance fees and exchange fees. People saying you can't stay in good locations don't know what they are talking about. Have stayed in the gas lamp district in san diego multiple times, strip in vegas, branson, powder mountain utah multiple times, orlando for disney, florida beaches, hot springs, gatlinburg, pigeon forge, mayan riviera, canada, and many others. You must plan 12-18 months out for the nice resorts in good locations. You can't decide two months out that you want to go to some popular destination. Headed to Steamboat Springs to ski for mardi gras that we just booked last month.

As someone said, if you see it as a way to do economical vacations it works. You have to do research though and buy in a good location with low maintenance fees. It is not an investment.

You must plan 12-18 months out to travel to places like Branson??? Sign me up!!

Meanwhile I can use my visa rewards to get 2 free weeks a year in literally any city I choose without paying for the timeshare or ever having to take a tour.