I finally paid off my timeshare

It is your story, tell it how you want. Who said it want up in price? Have you tried to sell it for the price it was valued at?

Rick Sanchez wrote:

It is your story, tell it how you want. Who said it want up in price? Have you tried to sell it for the price it was valued at?

I tried to buy another week, so that I could one day divide them equally amongst my 3 children (the youngest is six, so it’s a long ways off). The resort company, of course does not have any oceanfront left to sell. I could buy one with an ocean view that is set back from the water for about what I paid for mine. They come up rarely on the secondary markets. Always more expensive, but the main problem is that some ownership benefits are lost, so it would not be an equitable split for my heirs.

how is this superior to renting a hotel/airbnb in the same location, and maintaining infinite (?) flexibility in your vacation plans, and investing in a diversified portfolio instead ?

what about maintenance/cleaning/hoa/etc ?

How will rising sea levels affect your property?

So, you paid 320,000 for two weeks at the beach? Plus how much in maintenance fees/month?

Cool story.

sit and kick wrote:

how is this superior to renting a hotel/airbnb in the same location, and maintaining infinite (?) flexibility in your vacation plans, and investing in a diversified portfolio instead ?

what about maintenance/cleaning/hoa/etc ?

I could never bring myself to spring for this kind of luxury if I didn’t already own it. A similar unit would rent for $2000 a night. You have not enjoyed a vacation until you’ve been in a three bedroom luxury villa. When they want to bring friends, there’s room for that too. We could easily fit 12 people if we felt like roughing it a little. As far as flexibility. I have that. I can go anywhere in the world and again at a level I would not otherwise be willing to pay. Could I have put the money in the market and then pulled $25,000 out every time we wanted to book a hotel? Sure. And maybe that would have been cheaper. But I’d have instead found a $3000 a week place and it would have been far less enjoyable.

$2k a night? that's laughable. You own the only time share in Monte Carlo? GTF outta here. Pics and location for proof.

Clim changer wrote:

How will rising sea levels affect your property?

The property itself is safe. The beach in front is potentially at risk. The government has mitigation plans in place, though one can’t predict the public’s future vacation tastes when many ocean front communities are under water.

Timeshare is like owning a mobile home, the numbers just don't work out and they are mostly owned by poor people.

dreamland wrote:

$2k a night? that's laughable. You own the only time share in Monte Carlo? GTF outta here. Pics and location for proof.

I don’t think buying a timeshare ever makes sense, but there are Disney properties that go for far more than that.

$160,000 for a weeks worth of use?

52 weeks in a year...

If they sell just that unit for every week of the year...

The timeshare company just made $8.3 million dollars on that one unit

Now your stuck paying your what, $3000 a year "maintenance fee". Congrats they just made another $150,000 on just your unit

Sounds like a rock solid investment..for the timeshare company.

Not A Therapist... wrote:

$160,000 for a weeks worth of use?

52 weeks in a year...

If they sell just that unit for every week of the year...

The timeshare company just made $8.3 million dollars on that one unit

Now your stuck paying your what, $3000 a year "maintenance fee". Congrats they just made another $150,000 on just your unit

Sounds like a rock solid investment..for the timeshare company.

I work three hours a day two to three times a week. I made $150,000 last year.

Maintenance fees are high, but per my deed, they will never exceed $3000 per week. You’d get hit with all kinds of fees if you were renting a condo or villa anywhere. Cleaning fees, taxes, booking fees, damage waiver fees. There’s a reason that $200 a night condo you tried to book really costs $350 a night.

This has got to be a troll, right? We pay $2,500 for a beach front house in North Carolina every June. You pay $3,000 in fees?!

tycobb wrote:

This has got to be a troll, right? We pay $2,500 for a beach front house in North Carolina every June. You pay $3,000 in fees?!

North Carolina? You’ve got to be joking. People pay to vacation in North Carolina?

Rick Sanchez wrote:

It is your story, tell it how you want. Who said it want up in price? Have you tried to sell it for the price it was valued at?

Geez, for $200,000 the OP could have purchased on lot just 1/2 a mile from the coast of California with an ocean view. The one issue with that lot is that it designated as permanent open space, and cannot be built on because the really steep slopes are unstable. Other than that, the OP would not to worry about other owners sharing the property.

Sounds like a troll post to me. People get screwed on timeshares and just about everyone and their brother knows it. Way too expensive. Way too restrictive. No way I will ever buy one of those. Again, I believe you are trolling here or I wouldn't be so upfront about it.

Living the Dream wrote:

You have not enjoyed a vacation until you’ve been in a three bedroom luxury villa.

I bought a sailboat for 20k. I spent 6 months parking it in front of luxury villas some nights, uninhabited islands other nights.

I bet I had a lot more fun.

Or maybe we have a different idea of what's fun and what I enjoy hapoens to be cheaper.