TimeShares ? ?

[2ez]

Anyone hear a timeshare member ? I understand the logic and have gone on a tour. seems if you are a family of 5 - 7, this may be beneficial.


The planned was explained to me like this:

Option #1

Cost of the timeshare: $13,999. Pay 20% down and $254 per month for 20yrs. You get 12 free weeks of vacationing. The ability to use the local facility (unlimited ). If i travel within the continental U.S, additional cost would be $129 per week ($149 for outside the States) for a room that sleeps 6.

The tour person kept emphazing how i can stay an entire week (less food and airfare) for $129. But if you do the math and mult the $254/month by 12 months....that's over $3000 you will have to give these people every year for the next 20yrs = $60,000 total.....then factor in the maintenance cost of $350/yr for 20yrs = $7000.

So over 20yrs you will give these people $67,000.


Option #2

Cost: $7995 same deal as above, just you get a smaller room.


Not sure if all timeshares are the same or very similar....but this program here did not appeal to me.

If you know of any good timeshares....let me know !

All suggestions and comments are appreciated !

 

[Soupman]

I just did one but with Marriott at Disney. If your location is great and you have many option where to go outside of your location it makes a ton of sense. Will you spend 2-3000/year on vacation? If you do then this option will get you something back after you pay out. I spent 16,000, refinanaced the load so my payment is 180 per month. When I pay it off I can sell it.

A proprty near Disney will alway go up in value. So after 15 years I expect to double the investment easily.

Look at how many places you can use Marriotts at. I wouldn't do it if you location is not a gauranteed desireable place to go.

Just another opinion, hope it helps