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Thread: rent or own timeshare?

  1. #21
    Senior Member aruba here I come's Avatar
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    very good tread, I too would like to have a timeshare some where down the road. thinking it would be cheaper in the long run.
    Everyone has brough up some very good points.
    Keep them coming.
    I would like to rent one one time to see how it is...

  2. #22
    Senior Member fattypatty's Avatar
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    Quote Originally Posted by ~Amy~ View Post
    Wouldn't it make more sense to just pay in cash....and avoid any interest altogether? If we had decided that a timeshare was for us, that's what we would've done....why make the timeshare cost even more by adding interest to it?
    Amy - of course it's cheaper to pay all in cash! but for a unit that cost anywhere from 10k - 85K, most would find it easier and more palatable to finance it. and if that's the case, using your HELOC would be the best way since you can deduct that interest expense. thus, you get something back.

    staying at a timeshare is not all that it's cracked up to be. when we toured and bought, we thought we would have the kids and family sitting around the dining table for breakfast, lunch, and dinner - save some money. BUT, it turns out that we only eat breakfast for the most part. why? we find it difficult to dry up an go up to the room for lunch and then make our way back down to the pool/beach - once you're dry and full, it's hard to drag your body back out. and as for dinner - we find it a waste of a night to be sitting around in the room eating when there's so many dining options in town.

    what's nice about it is that we have a big family for which 2 rooms are a must. it sure beats having to rent 2 rooms at a hotel. this way everyone is in the same unit and thus feels more like home.

  3. #23
    Senior Member Shnyda's Avatar
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    We became regulars to Aruba when my wifes parent's bought a condo! It makes for a no thought beach vacation! Our friends have been flying down with us and using the spare bedrooms. Can't beat it! (We got very lucky!!)

    We have considered buying time shares over the years - but doing the math we couldnt justify the purchase. The sales people do magic math and make it seem worthwhile. (We have only looked at the Marriott TimeShare properties)

    We love to travel - and now get down to Aruba a few times a year. We also like to go to at least one other destination each year - so not being locked into anything makes it easier. We did Europe last spring and bounced around to 3 different hotels in 10 days - probably could not have done that trading time share days.
    -Eric, Karen and Mia-
    Aruba New Years 2017-18 12/28/17 - 1/3/18 (18th Trip)


  4. #24
    Senior Member ~Amy~'s Avatar
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    Quote Originally Posted by fattypatty View Post
    Amy - of course it's cheaper to pay all in cash! but for a unit that cost anywhere from 10k - 85K, most would find it easier and more palatable to finance it. and if that's the case, using your HELOC would be the best way since you can deduct that interest expense. thus, you get something back.
    True! But I guess we wouldn't buy it unless we had the cash to pay for it in full since it's what I consider "a luxury item" (something my daddy taught me. ) We're cash people - no debt for us....cash is king (especially these days!)

    These are just my own opinions of course. And yes, we do have the funds to purchase one with cash but....as I said before, crunched the numbers and realized the only one making money from this deal is the developer!
    Last edited by ~Amy~; 02-03-2010 at 10:44 PM.
    ~Amy~ - 35th trip to Aruba: New Years Eve 2017/2018 -- Zihuatanejo, MX: March 2018 -- Ireland: June/July 2018 -- 36th trip to Aruba: Sept. 2018




  5. #25
    Senior Member fattypatty's Avatar
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    Quote Originally Posted by ~Amy~ View Post
    True! But I guess we wouldn't buy it unless we had the cash to pay for it in full since it's what I consider "a luxury item" (something my daddy taught me. ) We're cash people - no debt for us....cash is king (especially these days!)

    These are just my own opinions of course.
    they say timeshares are one of the most discretionary items one can purchase.

  6. #26
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    The first few years we rented a timeshare and we felt that the money we spent on a two bedroom unit could easily have gone to pay towards an actual unit rather than just gone money........

    Our friend just traded her week at the Surf Club and went to St. Kitts, no problem trading at all. I think the trick is to be flexible and plan early. We will utiilize this at some point in the future too.

    I guess if you take more than one vacation a year then owning a timeshare for your yearly Aruba trip and then spend your money on your other trip to whereever you want, is an option. Yes, the timeshare needs to be paid for but one day all you will be paying is maintenance fees. All in all a great option for a family. Or at least our family. We know that everyone will have many years of enjoyment out of our purchase and that is what we wanted from our timeshare.

    About the lunch...sometimes we do come upstairs for lunch all together, sometimes everyone grazes in at different times and does their own thing, and many times I bring down lunch to enjoy beach side in my trusted cooler!!

    I think you need to look into what makes sense for you, your lifestyle and who and what you want the timeshare for.
    happiness is going to Aruba with your adult kids because they still want to come with their parents

  7. #27
    Senior Member DaveNJodie's Avatar
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    Rent before you buy...

    After renting timeshares for a number of years at different properties, we finally decided to buy one last year. It is certainly a buyers' market right now but I would suggest that you rent before you buy so you can get the timeshare experience.

    For us, we found that we were going to Aruba almost every year, we were paying more to rent than the annual maintenance fee would run, and we were able to buy a timeshare for a very reasonable price. Even at many timeshares with an assigned week, you can usually trade in the same season (high/low) for a small charge.

    If you narrow down your search to a few properties, just ask on this forum for advise and Amy, CinydO/RobO, Andrea, Lisa and others will give you a great deal of information. This forum is a fantastic resource. THANKS ALL!

    Dave and Jodie

  8. #28
    Senior Member sunnysmiles's Avatar
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    I really appreciate all the comments everyone - thank you!

  9. #29
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    Long time visitor

    Quote Originally Posted by ~Amy~ View Post
    Timeshares are definitely a personal decision/preference and are not an investment. You need to look at your own travel habits and determine if it's right for you or not.

    We looked into them, did the number crunching and decided (for many reasons) that it wasn't our thing. What we didn't like was paying a maintenance fee that we have no control over (special assessments, etc.), having the same week every year (we like to travel mid week and stay anywhere from 9-17 days), and like to take advantage of airfare specials which saves a lot of money when you're flexible with your travel dates. Also didn't like the "extra fees" that came with exchanges to different locations, different dates, etc. There were just too many factors that were out of our control and we didn't care for that.

    In a nutshell, we like to be VERY flexible and we also travel to other places throughout the year.

    We're going on our 21st trip to Aruba in May and have stayed at different hotels on the island (both Palm and Eagle Beaches) and have also rented timeshares. Renting timeshares are a steal (usually we haven't paid much more than the person's maintenance fee.) But now we've been staying at Amsterdam Manor twice a year since 2005....we found our "home".
    We travel with the same friends each year and 17yrs. ago we each bought every other year at two different timeshares. So one year we are their guests and the other year they are our guests. Works out well with the maintenance fees.

  10. #30
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    Lisa:

    Well put! As Amy said, it really is a personal choice; along with financial ability to pay the various fees involved for your 1-2 weeks.

    My friend, has a timeshare, which I am fortunate enough to share.along with two teenagers.

    On the other hand, however, all-inclusive, often ends up a lot cheaper, with meals included. Of course, many of us enjoy eating at the various restaurants on the Island, and you can have the best of two worlds; meals included with your bill, and eating out.

    Just my two-cents worth. Whatever you do, I am sure that you will analyze the costs and what you are interested in for a long-term.

    Probably back there in June.

    Ed

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