Ok so I guess a time share could be considered an investement.. does anyone here have one? And what is everyones thoughts on them? CAN they be a good investment?
This has been discussed here before.. They are something to stay away from.. unless you like loosing your money.. I GAVE AWAY my Mothers 10k time share cause I couldn't sell it.. all it did was cost me money quarterly...
Last bit of advise from me on this subject: Stay away from Timeshares
Time shares aren't an investment vehicle. They don't appreciate in value, and you will pay assessments on your "share" as long as you own it. If you want to buy a timeshare just so you have a place to visit once a year, or to trade for time in a different timeshare, you can divide the money you'd pay up front for a time share deed by 10, add it to your hotel budget the next time you take a vacation and get yourself a nice luxury suite.
Another option, book a timeshare room through Armed Forces Vacation Club anywhere in the world for $379. It's a lot cheaper.
Seriously, I can't sell my timeshare right now to save my life. I dropped the price down to $5K too, and no takers. It's an Orlando one that we got years ago when Orlando was the hotspot for that stuff, but now timeshare units there (even tradable ones) are a dime a dozen. I think the starting price was somewhere around $11k when we got it, used it 2 times, then haven't since. Military deals everywhere else (shades of green for one) are way better, and you can use then any time as long as you can book them.
Plus I'd be saving an extra $2,800 or so a year, not including the stupid maintenance fee of $600 annually...
On another note, if you guys want an Orlando time share, it's only $5k...
I'm w/ Wray, "Stay away from time shares". My wife and I prefer going wherever we want, whenever we want and we never go to the same place twice! The world is too big to restrict yourself in anyway shape or form. And good planning can beat any deal a time share has to offer.
