** Official July Chat Thread: The Black Swan **

[Cry Me A River]

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You are just contributing to someones morgage, same as renting.

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Except a lease is much easier to get out of.

[Cry Me A River]

I think, like anything if you really do your homework you can get some good deals (ie: buying from people dumping their timeshares below cost after realizing it was a bad idea) but most people just get screwed, overpay and get locked into long-term deals they don't really need.

[1p0kerboy]

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You are just contributing to someones morgage, same as renting.


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How?

The way I look at it, when my family and I shell out 2k-3k a year for hotel/resort stay during our vacation, that is the same as renting.

If we have a timeshare that we could sell later on, that would be like getting money back from what we would have spent anyways.

Thoughts?

[D.L.M.]

Im just very investment concious like that. If you plan to use it every year and think its pretty liquid purchase than by all means. Your talking to a guy who wont finance a car here.

[RyanCMU]

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I'm baaaaccccckkk

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Move back up...Your just crowding my pond.

[Cry Me A River]

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The way I look at it, when my family and I shell out 2k-3k a year for hotel/resort stay during our vacation, that is the same as renting.

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Yes it is, when you stay at a hotel or resort you pay a premium or a longer lease on a property (ie: standard 1 year lease) due to the shorter period of the stay and the flexibility of just showing up.

However, unlike a timeshare you're not having to pay a big payment up front. Or commit to payments over several years.

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If we have a timeshare that we could sell later on, that would be like getting money back from what we would have spent anyways.

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This assumes two things - That the difference between your buy price and you sell price amounts to a discount versus the costs of a hotel/resort. Which isn't a given.

Or that there isn't value offered by the flexibility of hotels/resorts - If you can't take your vacation at your scheduled time on year you loose an awful lot of your timeshare value. And what if you want to vacation somewhere else next year?

When I was a kid, we owned a summer cottage. It was an awful lot of fun the first couple years, but by year 9 or 10. Meh. My parents made mad coin when they resold it though.

I'll admit I don't know a ton about timeshares but my impression is that re-selling them is non-trivial and it's difficult to get value for them (ie: it's a buyers market)

At any rate, it's a very shady industry with a horrible reputation known for using high pressure sales tactics. When an industry has to resort to these tactics, there's usually a very good reason!

Be really careful, man!

[TheProdigy]

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I'm baaaaccccckkk

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Move back up...Your just crowding your own pond.

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This is my house now.

[D.L.M.]

how bout both of you move back up? we need more tables goin.

[Cry Me A River]

Anyway, you're in Florida - You don't need to go anywhere to vacation [img]/images/graemlins/smile.gif[/img]

[D.L.M.]

I love online classes where the quizes have no time limits. Im getting an A in this class and havent learned a single thing about pshchology. BALLA. I can navigate through glossarys like its nobodies [censored] ing business.