Learn from others mistakes and timeshares can be a winner.
1) NEVER, EVER (under penalty of death) buy on the primary market (the
developer or through the sales agent thereof). If you do, you bear ALL
of the marketing expense for the development and then some.
1(a) Go to the presentation if you're iron-willed, scarf up the
incentives offered but just put your hands over your ears, shake your
head, and say "no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no. . . I can't hear you when they commence the sales pitch.
2) Do your own due diligence and only buy on the secondary market.
3) Always look for weeks that are "full float, 1-52" Simply, this means
that even though you are deeded Week 36 in Shangri-La, you can book,
subject to availability ANY week of the year.
4) Look for a timeshare in an area that has maximum "Red" weeks (the
best) for maximum trading value.
5) Go with an established timeshare organization Sheraton/Starwood,
Marriott, Wyndham, etc. They seem to know what they are doing.
Reference the secondary market. . . Ebay is a great place to buy.
Folks who were suckered in unload here. I just helped a friend get a
place where we own several timeshares buy a 2 bedroom lock-off, all Red
weeks, with full float. His cost was $230 total. The schmuck that
originally bought that timeshare likely paid >$19K - $25K. Yearly
maintenance on the timeshare is $1100. That equates to a large two BR
with two kitchens, 2 baths, 2 living rooms, 2 patios/balconies for ONE
week or he can split them up (two different times of year or half the
unit one week and the other half the following week) in Scottsdale, AZ.
You will not find similar accommodations in the area for less than
$185/night.
Join a timeshare exchange like RCI or II and bank your weeks which
extends the window you can benefit from the ownership. If you play your
cards right it's relatively easy to trade the small one bedroom half of
this timeshare into a two or three bedroom unit elsewhere and still have
trading power left to do another trade. The cost? ~$200 exchange fee
for each stay but I've either upgraded to a 2 or 3 BR unit and possibly
gained a second week's stay in a new area.
I don't sell these things and, frankly, I'm so frugal I squeeze a nickel
until the buffalo's head is coming out of his a**hole. Taking a flyer
on a timeshare on the secondary market was one of the smartest things
I've ever done.
Just don't be stupid. Again, YOU profit from OTHERS mistakes!