Experiences with TimeShares?

My Mother/Father in law talked a little bit to us about the timeshare organization they have been in for the last 10 years - Fairfield Resorts, Inc. / RCI, Inc. and described some of the properties they have deeds on, etc.

We do a lot of travelling as a family, and to date mostly stick to cruises or all-inclusive resorts to have everything that we like to have, which is basically - a "at home" environment.

Anyone else have experience with Fairfield Resorts or other timeshare organizations, positive or negative?

We are considering buying into this one - to offset some of our travel expenses.

Hi DallasGal - It's not a wise financial move because of the time line logistics. It's actually very expensive when one can rent a small cottage or other place of lodging for far less money.

Check with your CPA and see what advice they give you.

We have the Disney Vacation Club which is a very different kind of timeshare. For us it works well. We wanted to be able to go to FL a couple times a year but don't necessarily want to become snowbirds upon retirement and we didn't want the hassle of owning property there and having to maintain it. Plus, we LOVE Disneyworld. For us it's been great. We get in two good trips a year and the rest of the time we do small weekend trips to NH, ME or VT. Last year we did a week in Vegas as well. We can also uses our Disney one to go other places, but haven't yet.
Louisa

I am a real estate agent, and, no, I do not deal with timeshares, but I am quite familiar with them for my own purposes. I own: I do NOT own at one place for one week, though. AND I would never buy direct from the program or place. There is a secondary market that is very inexpensive, especially if you know the program you like. Fairfield has lots of places and an exchange with a larger group as I recall. For cheap purchasing do look at ebay and do an internet search for some of the re-sell clearance houses on the web (which also may list on ebay). I have picked up amazing bargains and all allow me to choose when I go and where. Point systems like VI are great. I also was familiar with at least some of the properties when I purchased. Get very familiar with the program if the system is a touch complicated so that you know you have made a bargain. One of the advantages of timeshare is being able to book a decent place in the high use season - say Xmas week, another is that you know in advance you are going to take a vacation (I need that future bright spot sometimes)

DallasGal,

A good friend of mine is engaged to a guy who is with Fairfield and I would definitely not be interested in a timeshare. For one, when you go there, they have to talk to you and your guests and guess what they want to do? Yes, get your guests to buy or you to upgrade yours. I went to Gatlinburg with my friend and some other ladies and shouldn't complain because I didn't have to pay for lodging, however, if I had to pay, I would not want to stay in the Smokies in a generic condo, no matter how nice it was - and it was very nice.

They talked her fiance into a more expensive package and honestly, he can't afford it. And they talked her into putting her name on it!!! If anything happens to him or their relationship, she could be stuck with a payment for something she is not interested in. She is an older lady on a fixed income and has to watch her spending.

I just don't like the high pressure. I don't know if they get an incentive to give Fairfield a name, but they have even called me!

It could be great for some people if you get a good deal, but this guy didn't.

JMO

Daisygirl

We finally bought a timeshare this year for my 40th birthday present to me -- as we will be traveling even more as the nest empties.

One other thing about timeshare is - that you can pass it down to your chilren. So it is a long term investment, of sorts.

we talked to my brother in law who IS a CPA and he owns one in Mexico. He thinks it's a good deal.

Different strokes for differnet folks...personally, I'm very excited that from here on out, I get to stay in nice condos with great facilities...v.s hotels. (I like to have the option to have cooking facilities when I travel)


danita

I have a timeshare down the New Jersey shore and I love it. I live in New Jersey and really love being near the water even during our cold winters, so this is ideal for me. I have had it since 1998. I recently bought a two-bedroom TS. I have never regretted one minute of my timeshare ownership. However, timeshares are not for everyone. People often do not take time to understand that the expense of getting to their timeshare destination may be prohibitive. Or if not purchaging out right, that making the monthly payments can cost bring the cost up thousands of dollars depending upon the finance charge. The maintenance fee is an ongoing yearly fee and *must* be paid before you can use your time. All of this can prove to be a hardship.

My time is in what is called the "Yellow" season and thought not to be highly desirable. Evey once in a while I will get a call to upgrade to a more desirable time (and more expensive). I always explain that my birthday is in March--so there is no more desirable time for me.

We have a time share at Westgate Resorts in Orlando! We love it. Of course, my husband is in finance, so we paid for it outright, no high finance fees. We do have to pay about $450.00 for maintance fees each yr. You can will it to your children. You can exchange places to stay at one of the other timeshares if you do it about a yr in advance. You can also trade it in on cruises, you usually do have to pay a little extra, unless you really know finance and can talk their language. We haven't had to pay but $100.00 exra for a trad-in for a cruise and that was an alaskian cruise.

We have taken 3 grand kids for over ten yrs there, and now they are 14, 16, and 17. There is a swimming pool right out back of our section, fully stocked condo, w/d, dw, everything! It is 2 bedroom 2 bth, and sleeps 8 comfortably. A large TV and vcr/dvd player in both bedrooms and the living room. We can get things and cook a little and have sandwiches and save a ton of money, instead of eating out + it is healthier. We take the grand kids to 2 theme parks 2 days and shopping 1 day, the rest of the time the pool is part of their vacation. They stay totally busy and love it. They are growing up, but we have 3 grandsons coming up 21mos, 4, & 5. so it will be used for a very long time. Yes we could get a room for $100.00 a night and have to get an extra cot because there are 5 of us, and eat out every meal, and worry if they were ok, and have to go to a laundermat. but this is so much better with space and the conviencies.

If anyone is interested in buying a timeshare, I would do as Vitiman says, you ca get great deals other than at the time shares themselves, owners have to sell them themselves. But, be sure of what you are buying before you buy! My husband and I think passing it down to the kids is a great idea. It gives them someplace to stay, and the yearly fee divided up among 3 will be managable, or they can sell if they want to. Makesus no difference. It is serving our purpose and we like it!