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Thread: Timeshare - Good or bad investment?

  1. #1
    Sun Devil asun2art's Avatar
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    Timeshare - Good or bad investment?

    Thoughts on timeshares?

    My parents got a free week stay at a hotel in exchange for attending one of those seminars about timeshares. Well, no surprise, they bought one. Was this a wise investment?

    They got:
    30k = 2 weeks / year (1 - in Tahoe and 1 week in Kauai)
    (The property is for life, goes in the will)

  2. #2
    I Mastered Dead Technology TallGuyLittleCar's Avatar
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    how much can they sell it for... that will determine wether or not it is a good investment.
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  3. #3
    Chaos silverx2's Avatar
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    they spent 30k and now they have a lifetime of 2 weeks a year being able ot stay a week in tahoe and a week in kauai? your kids will be thanking you someday.
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    http://www.flipshark.com flipshark's Avatar
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    Quote Originally Posted by silverx2
    they spent 30k and now they have a lifetime of 2 weeks a year being able ot stay a week in tahoe and a week in kauai? your kids will be thanking you someday.
    Yeah but that's assuming your kids can afford to get to tahoe each year, cause unless your parents bought a timeshare on a plane also, isn't it just free room and board?

    I won a free stay in florida once, but had to go within 6 months of winning. Couldn't afford the air fare, prize expired, and I still haven't been to florida.

    To me a timeshare is like the prize above, what good is a free stay once your there, if you can't get there. Also how do you determine what week you get to go? Tahoe may be a nice place to go to escape a cold winter, but you have to take turns with the rest of the people who own the time share too.. right?

    I'd say your better off going on 10 vacations anywhere in the world where you spend $3000 (after airfare), then $30,000 on going to the same place over and over again for 50 years.

    That's just me.

  5. #5
    Official Vermont Photo Mod WannaBe_80z's Avatar
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    Flipshark, you are exactly right.

    $30,000 is a lot of vacationing. Or 5 minutes in Vegas
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  6. #6
    Banned indivision's Avatar
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    The other problem with timeshares is that its difficult to define and buy a level of quality. They take out all future competition for your business/vacation money. So, what may seem nice now may be dumpy compared to what your money could get you in 10 years. Somebody will need to pay to keep that timeshare in good repair and there isn't much motivation to do a good job when paying for a new roof, new furniture, etc just means a smaller margin of profit.

  7. #7
    Sun Devil asun2art's Avatar
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    hahah! - they called me this morning and said after careful reconsideration, they declined the offer.

    whew!

  8. #8
    New Wave Visionray's Avatar
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    how do you work out who goes when? What if three families want to go over Christmas.

    Also, who is responsible for maintenence and upkeep?

    Can you kick someone out who isn't taking care of the property?

  9. #9
    Lunch is for wimps. erova's Avatar
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    timeshares usually aren't a great investment like a vacation home or a mutual fund. however, they can fulfill a want if your debt's low, your retirement account is in good shape and you have a lot of time to travel and a lot of places to see.

    you don't build any equity in the property because you don't own the property itself, you own the right to stay there usually 2 weeks out of the year on a point system (usually holidays requiring more points as in the xmas example).

    one of my buddies picked up a timeshare though the disney network of hotels that's associated with marriotts and a lot of other places. personally i'm saving up for a second joint in charleston so i can talk ACC/Big Ten basketball with nordberg over Palmettos...

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