Timeshares can be a nightmare or a viable option to vacationing as long as you understand that they are NOT an investment and you should not buy one expecting its value to go up (regardless of the charts the salesperson shows you of how much they have increased in value over the last 5 or 10 years. The developers have just raised the price each year). So Rule #1 Timeshare is NOT like true real estate (deed or no deed)! We have 2 (1-deeded, 1- not), have enjoyed them both for the last 8 years and still use them but then, we didn't end up buying them from the "developer". We bought them on the secondary market from a broker for a fraction of what the original sales price was. One timeshare that would have cost $32 000 we bought for $8 000. The advantage of timeshare we feel is that if you are careful in your selection, it does open up the options of vacationing at different places within that timeshare's "family" of properties rather than being tied down to one destination as you would be if you purchased, let's say, a condo somewhere. So Rule #2 is to select a timeshare that has a variety of properties in places that you would want to vacation in. Salesmen will tell you how you can trade through RCI or Interval International but there are costs associated with doing any trade; there is no guarantee that you will get the dates you want, and if it is somewhere you need to fly to, like Hawaii, then how can you book airline tickets? The second problem with trying to trade is one that we should be all familiar with, and that is you must have something of equal or better value to trade or no one will want to exchange with you... so Rule #3 is the timeshare you choose must be a desirable one to the open market. The #4 rule is to select a timeshare that also has properties close to your city of residence so that you can use up your points/time on a few short, lower transportation cost driving vacations so you don't lose/let your points expire. If you don't use it, the annual maintenance costs will quickly begin to haunt you! Before we bought the first timeshare we wanted, we did go to a few sales presentations to see what they were all about; but you have to try to go in with the mindset that you are only going on a fact finding mission. I know that its easier said than done and we actually did use the 7 day buyers remorse clause (check the duration for buyers remorse in whatever state you live in!) on the first occasion after I did some research and found out about the secondary market. Our second timeshare was purchased after we saw a particular timeshare property in Hawaii that we fell in love with. The cost to purchase at the property was $32K (that's a downpayment on some actual investment real estate!) but because the property is part of a timeshare family, we purchased a deeded cheaper property within the family (on the secondary market) and currently trade into our desired destination, annually. Coincidentally our deeded property is in Florida where timeshares tend to be cheaper since there are more timeshares and therefore more competition, but we have never gone to stay at our own deeded property. The bottom line is that timeshare is not for everybody. You have to consider the cost as non recoverable and treat it like the cost of an annual vacation. If it works out cheaper that what you would spend on a vacation annually over time, then you are ahead. If it allows you to stay in better accommodations than what you would normally be able to afford, then you are ahead. If neither of these two criteria are met, then don't be suckered in by the sales pitch or pressure tactics. Be firm and tell them that it doesn't work for you, get up, thank them, and go. If you give in to the pressure, you will more then likely regret it later. I don't know if this will help anyone but I thought I would just share our reasons for owning timeshare .... and BTW, just like everyone else, we've sat through some high pressure, guilt filled presentations. We don't go to presentations anymore; even the owner's updates that promise a gift in compensation for your time ... the promise of a gift should always be a warning that an attempt is going to be made to try to sell you something.
