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Tuesday, July 8, 2008

Timeshare


Several years ago while on a vacation to the big Island of Hawaii my hubby and I bought this timeshare. We have never stayed here but rather have traded it in every year to go to a different location. Our first trade was to Whistler, Canada then Panama, then Branson, Mo. and then Mederia, Portugal. This year we are hoping to go to Quebec, Canada.
Now we have had our timeshare long enough that it is paid for with the exception of the yearly upkeep fee and the exchange fee required if we go with a bigger company like RCI but here is some advice if you have never owned one and are thinking of doing so.
1. If you are not really open on your travel dates.......forget it. Even with giving any travel time for one whole month, it is still a maybe to get into your desired location.
2. NEVER buy a brand new one. There are many, many for sale at a much cheaper rate for people that have become disenchanted with them (Be sure and use a licenced Realitor).
3. Know your reason for buying one....is it to travel around the world or is it to go back to the same location that you dearly love year after year...the last one is the best reason because you will not have any need to make exchanges and are assured your yearly trip.
4. Try to buy one that is in one of the larger groups like Wordlmark. You have more opportunity to be able to make a trade within your own group and not have to use the RCI group which allows you to trade with all groups and requires not only an exchange fee but also a yearly membership fee as well.
5. Never buy one below a gold rating (that means the desirably of it and gives you a greater exchange power and resale value).
I don't think that this has been the best financial endeavour we have gotten involved with and we have considered selling it a few times but I always go back to one fact........it encourages us to go somewhere we may never had gone had we not had it:)
HAPPY TRAILS.........................................................................................

4 comments:

Ex-Shammickite said...

i've never been tempted to buy a time share place, but I know many who have... and the jury is still out on whether it's a Good Thing or a Bad Thing. Some friends swear by it, and others just swear about it!!
Interesting that you are going to Quebec. Is that Quebec City or somewhere in the Province of Quebec?
Did you know that Quebec City celebrated it's 400th anniversary last week?

Lady Di Tn said...

Good advise. However, I would like to be forced to go where I have never been before. Peace

JeanMac said...

Good points. We looked into a time share once but didn't buy!

Granny Annie said...

Your account is the only first hand actual experience I have ever learned about. Most just say "don't" but never "why". You make is sound less horrible than I imagined.