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Friday, July 19, 2013

TIMESHARES AN ADVANTAGE OR NOT?


Since I was on the subject of timeshares, I wanted to explain to you a little more about timeshares. Like I said before I have four, although I am in the process of selling one and what I got for it is more like giving it away, but after the company that owned it sold it to Holiday Inn Resorts, I was glad I did. The amount of points I had was just great with the timeshare company that owned it earlier, but after Holiday Inn bought it, it was useless to me. They did not raise the points to meet the value of all their resorts which was needed for the way they ran their timeshare exchange. What was a full week before, is now only 6 days. I couldn't understand why we didn't get to keep are same value, I guess they wanted us to buy more points. My friend that bought the timeshare said she was okay with it because I had low membership and maintenance fees.

Now, there are two types of timeshares, a fixed and a floating. Fixed are not definitely my type of timeshare, but there are many who like them. A fixed timeshare can only be used the time of year you purchased and at the resort you purchased  always and no others. A floating one is based on points. You use these points to go for a couple of days or for a full week and you can go to all the places this particular timeshare has.

There is also what is called RCI, if you should buy a timeshare with one resort having RCI to deposit your points in, it gives you many places that you can go. Also what is nice about RCI is they have specials where you don't need to use points, but you can pay for the unit outright. I am going to Conroe, Texas for a week and it cost me only $197.99 plus taxes. I had used all my points to spend 2 weeks in Tampa, Florida and we needed to go to Houston, I got lucky when the sale came up. The only thing bad about RCI is there a lot of extra charges you don't pay with your resort even though they also have extra charges they are not as much as RCI. The one good thing is when you rent a week like I did in Conroe I didn't have any extra charges. Resorts also have specials at their resort where you can rent them out without going through RCI. Not only do timeshares have RCI but some of the timeshare companies has a place to put your points that works pretty much the same way as RCI and it is called III.

As I have said before, timeshares have catches, you have membership fees, maintenance fees, and depending on the timeshare various other fees. The next thing, they are very costly to get one as well as to keep one and it is impossible to get rid of them. If you look on Ebay you will see hundreds practically being given away. If you really want one that is how I would get it. Don't invest a lot of money, you might want to add points and trust me if your smart you can con them. What ever you do , is never say yes the first time they give you an offer, they will come down on the price and I advise you to keep saying no until you think the price sounds reasonable.

Timeshare companies will take you for all you've got, so read the contract and make sure it is written exactly as they have said it was going to be. I will tell you if they have came down on the price, a lot of times they will write on the contact an out of season date with less points and please make sure you know what your yearly fees are going to be because those can sneak in to be a lot higher than you thought. It is wise to buy a timeshare with a low maintenance fee because, I guarantee, the fee rises. Soon it will be higher than what you would pay to rent the resort.

Timeshares can sound really great, but the longer you have them, the worse your head begins to hurt. If you have a lot of money they can be okay otherwise they are a pain. My son is a multimillionaire and I tried to give him one and he wouldn't take it because he knew how hard it was to get a seaside resort, unless you booked it months to a year in advance. He wants to go now and can't wait. So be wise and think twice before you let the salesman con you.







 

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