Orlando Florida Time Shares... To Time Share... or NOT to TIME SHARE... that's the question?!

Katrina, Great post. We have never owned a time share, but if we did I think Florida would be our first choice.

Great post Katrina!  I have always wondered how the Time Share works and was interested in more information on them.  Thanks for explaining it for consumers!

Katrina - You made some great points - you definitely have the perfect checklist for getting a good one and leveraging it - I learned a few things - thanks  

I have one--Hyatt Vacation Club at the Hyatt Coconut Plantation in Bonita Springs.  They have the most cool rambling river pool ever!  It's a beautiful spot, but my daughter and I decided to do it more for the exchange factor for skiing--Hyatt's got some really nice places.  We haven't had a chance to use it yet, but I'll let you know this winter!

That bath tub is incredible! I want one of those!

My family owns about 16 units, so we are very familiar with timesharing. I can''t remember all of the specifics, but we own at Fairfield (now Wyndham Resorts), Orange Lake Country Club,  Westgate, and several others. Our properties are mostly in Florida, Las Vegas, Hawaii, South Carolina, and Virginia with some non-US properties as well.

Here's what I love: the flexibility of lenght of stay when you're on a points system, and the luxury accommodations and amenities you don't get at a typical hotel.

Here's what I hate: the annual maintenance fees. They're not horrible if you get to pay with your monthly installment. 

I have never owned one and really would not want to have one and worry about all the monthly expenses. When I go someplace, I like to 'fly by the seat of my pants' and not make plans months in advance, so it would NOT work for me.

WE own a timeshare in Lake Tahoe...our choice of weeks and it's a 5 star....we love it...and if you think about it....for the maintenance fee which is not even 2 nights in a comparable place...where are you going to go ?  Lately we have been so busy we have just taken long weekends so rather than let it  go to waste, we gave it as the top door prize at our annual customer appreciation party....the couple who won are going to Europe and using Frequent Flyer miles for the air.....You can't buy better PR than that !

I am glad to hear that you enjoy your timeshare.  I used to sell timeshare prior to getting into residential real estate.  I can honestly say, that I would never buy timeshare!!!  Many of the resorts are beautiful and offer great vacation packages.  However, there are many resorts via the II and RCI exchanges that are said to be 5star that are reallt no better than the super 8 motel.  The cost via a timeshare developer is huge when you can buy the same unit, same week, same color from a resale company for much much less 30k verses 3k.  Then there is the annual cost of main. fees in many resorts, these fees cost as much as just renting a unit in the resort via the rental programs each resort offers.  Over all I would say that timeshare resorts offer a nice vacation, however you can experience that type of travel without having to buy a unit.  I found TUG.com (Timeshare Users Group) to be informative and useful regarding info about timeshare rentals.......this is the one time I think renting is better than owning!!!

I have to disagree a bit....the more flexible the time of your timeshare, the more likely you are to use it and the more popular to trade....though the more flexiblity, the more expensive but we love it !

I am writing from a timeshare exchange right now.  My husband and I have owned ours in Killington, Vermont for two years and have traded it for amazing vacations all over.  Ours is a quarter share which meas that we own every fourth week (total 13 weeks per year).  We have traded three weeks within the last year as well as having used our home location several times.  We absolutely love it!

Katrina the post is gone...if you have an email copy Id like to read it. http://www.floridarealtors.org/NewsAndEvents/n3-111307.cfm

I live in California and bought a timeshare in Vegas. Hilton and its tradable versitile and we have not used it yet...we just work too hard. I live in Hermosa Beach where vacation rentals have gone crazy. We might offer a lovely home for the summer months ...we are thinking about it as furnishing it ( rental)

We just got burned on our Hawaii vacation as the airlines went our of business yesterday. our trip was for april12-20 too soon and too late all at once. My husband and I and our single mother daughter and 2 little girls may end up in Vegas instead. Who knows. We do need to use that time share.

You can pick them up for pennies on the dollar on EBAY. I have one in Orlando, a Westgate property. NEVER buy from the builder would be my recommendation. I got an OK deal, but did not do the research that I should have. Also the Internet is a great source of information now. TUG mentioned earlier is a good website to really learn about timeshares.

Ebay has so, so deals and some great deals, you have to be patient and wait for the great ones.  Down in Key West, timeshares are about the only way to spend the weekend on the island.  Most hotels are converting to condos and timeshares, leaving very few hotels.

 

There is crimeshare and true timeshare out there. Supply and demand is everything for trading capablitiy. EXAMPLE, Daytona Beach and Orlando are loaded with timeshares because so many people fill them up for summer when the kids are out. Alot of people buy thinking they can trade to Hawaii or the Keys or very nice places with less inventory. My recommendation is to buy a resale before being sucked into the three hour tour for a free dinner at red lobster. Bottomline, the avg cost per tour is 200 bucks for most resorts, the salespeople get a huge commission as well as the managers.

Go to Ebay and look up any resort your have toured and see awhat you can buy for pennies on the dollar. And becareful of the hotel converted timeshares because assestments can be headed your way with an old building.

 

Bottomline becareful buying timesahre and avoid vacation clubs at all costs. Vacation clubs can close and go out of business and their is no deed, they pitch no maint. fee but they usually have fees to but call it something that sounds better.

 

Timeshare class is dismissed.