NWR - I bought a timeshare!!!

without buy a house first! i was suckered into buying a timeshare when i was in mexico with my cousin and FH, we split it 3 ways not sure how its gonna work...but it will have to...
i think i have buyer's remorse....its $22k for 40 years....any advice from timeshare owners out there?!?!?!

We have one too, FH jokes, we have two vacation homes but, not a real one (he has a condo in South Carolina too!)

One good thing is that you feel you HAVE to go on vacation every year!

FH and I bought a time share a few years ago with Starwood ( Westin, W, Shereton, St Regis and the Luxory collection) 2007 is the first year we get to use it, we may go to Hawaii for our HM and use it then.
We always have buyers remorse but it is what it is- atleast we will always know that we are staying at a 5star resort. ( which also means food is sure to cost a small fortune along with drinks)
I feel that right now for us all inclusive is the way to go BUT in a few years the time share will be worth it esp when we have kids.
GOOD LUCK - what company is it?

I almost got suckered into buying one in Hawaii. :( But I was given advice by a developer and timeshare owner after I got back from my Hawaii experience...

Timesharing is a huge business and benefits only the investors and developers. In the long run it costs you more to own a timeshare 'cus you have the mortgage, maintenance, costs of selling the weeks you're not using and buying just airfare to get to the timeshare destination (most of the time buying airfare cost is higher when purchased separately than when purchased as a vacation package). I know it sounds like a great deal when they show you how vacationing will become more expensive over time.

I've known ppl who have sold timeshares at a lost 'cus they were tired of the mortgage and extra cost of keeping the place. Not to mention giving their weeks to relatives who don't pay them back 'cus it's viewed as a favor. :(

Sorry to bear bad news, that's just the advice I was given. It may work out for you differently...

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Posted by eden

I almost got suckered into buying one in Hawaii. :( But I was given advice by a developer and timeshare owner after I got back from my Hawaii experience...

Timesharing is a huge business and benefits only the investors and developers. In the long run it costs you more to own a timeshare 'cus you have the mortgage, maintenance, costs of selling the weeks you're not using and buying just airfare to get to the timeshare destination (most of the time buying airfare cost is higher when purchased separately than when purchased as a vacation package). I know it sounds like a great deal when they show you how vacationing will become more expensive over time.

I've known ppl who have sold timeshares at a lost 'cus they were tired of the mortgage and extra cost of keeping the place. Not to mention giving their weeks to relatives who don't pay them back 'cus it's viewed as a favor. :(

Sorry to bear bad news, that's just the advice I was given. It may work out for you differently...

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oh no!...taht wasnt the advice i was looking for!!

the company is Raintree Vacation Club...we're looking to pay the whole thing off...its only 22k....

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Posted by eden

I almost got suckered into buying one in Hawaii. :( But I was given advice by a developer and timeshare owner after I got back from my Hawaii experience...

Timesharing is a huge business and benefits only the investors and developers. In the long run it costs you more to own a timeshare 'cus you have the mortgage, maintenance, costs of selling the weeks you're not using and buying just airfare to get to the timeshare destination (most of the time buying airfare cost is higher when purchased separately than when purchased as a vacation package). I know it sounds like a great deal when they show you how vacationing will become more expensive over time.

I've known ppl who have sold timeshares at a lost 'cus they were tired of the mortgage and extra cost of keeping the place. Not to mention giving their weeks to relatives who don't pay them back 'cus it's viewed as a favor. :(

Sorry to bear bad news, that's just the advice I was given. It may work out for you differently...

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Sorry, but I must disagree.....

We bought our timeshare in Aruba while we were on our honeymoon and couldn't be happier. We purchased it for $10,000 and go one of the best deals. You need to do your homework and investigate before you buy!

We paid it in full and the process went so smoothly. The only thing we pay is a $600 maintenance for the week we own. We have also already rented it out for our week and that was incredibly easy too, just went on the hotel's website and BAM! rented!! We ended up making $1000 after maintenance.

As far as airfare goes, it depends on the time of year, when you book, etc, but you need to buy a flight to wherever you go, so yeah, you may pay a few dollars more to get it without hotel, but again, do your homework. We use our CCs with miles, so our airfare is free!!!

It can be stressful if you let it, but if you're smart, it can be a great vacation getaway as well as an investment.....

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Posted by curliegirl

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Posted by eden

I almost got suckered into buying one in Hawaii. :( But I was given advice by a developer and timeshare owner after I got back from my Hawaii experience...

Timesharing is a huge business and benefits only the investors and developers. In the long run it costs you more to own a timeshare 'cus you have the mortgage, maintenance, costs of selling the weeks you're not using and buying just airfare to get to the timeshare destination (most of the time buying airfare cost is higher when purchased separately than when purchased as a vacation package). I know it sounds like a great deal when they show you how vacationing will become more expensive over time.

I've known ppl who have sold timeshares at a lost 'cus they were tired of the mortgage and extra cost of keeping the place. Not to mention giving their weeks to relatives who don't pay them back 'cus it's viewed as a favor. :(

Sorry to bear bad news, that's just the advice I was given. It may work out for you differently...

---

Sorry, but I must disagree.....

We bought our timeshare in Aruba while we were on our honeymoon and couldn't be happier. We purchased it for $10,000 and go one of the best deals. You need to do your homework and investigate before you buy!

We paid it in full and the process went so smoothly. The only thing we pay is a $600 maintenance for the week we own. We have also already rented it out for our week and that was incredibly easy too, just went on the hotel's website and BAM! rented!! We ended up making $1000 after maintenance.

As far as airfare goes, it depends on the time of year, when you book, etc, but you need to buy a flight to wherever you go, so yeah, you may pay a few dollars more to get it without hotel, but again, do your homework. We use our CCs with miles, so our airfare is free!!!

It can be stressful if you let it, but if you're smart, it can be a great vacation getaway as well as an investment.....

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YAY! only that that sux is that I paid 22k! stoopid me!....got suckered in

YAY! only that that sux is that I paid 22k! stoopid me!....got suckered in

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You didn't get suckered necessesarily. There were timeshares in our hotel that were going for 25 even $45,000!!!! It all depends on the time of year, what type of room, how hot the owner is to sell. In our case, and it still baffles me, we got VERY lucky because the owner needed to sell quickly, as they bought a home in Aruba...nice!

We are also at an advantage because Aruba is a timeshare that everyone wants to get into....the weather is perfect all year long, it's not too hot, it's close......that makes it very lucrative to own in Aruba.

You'll be fine, enjoy it to the fullest.

Oh, and join RCI or Interval so you can trade to other places if you want.....