Timeshare Investing

[mandiees]

Are timeshares a good place to invest money?

[Lissy]

I honestly do not see how they can be. I had once listened to a timeshare salesman speech, he was trying to convince me to pay $60 a month to be able to spend 2 weeks a year at this timeshare place... Why would I do that? I can put aside $60 a month and then travel anywhere I want!

[Louise31]

Timeshare can be worth it but only if you know what you are investing in and you fully understand it all.

[DianaR]

Timeshares are a good investment only if you own the company that manages them, or you own the land that the buildings are sitting on.

[mandiees]

Originally Posted by DianaR

Timeshares are a good investment only if you own the company that manages them, or you own the land that the buildings are sitting on.

Hmm... Looks like I will be steering clear of this then!!

[DianaR]

The problem with timeshares is that you are locked in to a specific period of time for use. If you cannot use your timeshare during your allotted 2 week period, or whatever length you have committed to, you end up paying for something you can't enjoy.

If you could rent your timeshare during that period, you might stem the financial bleeding, but it may also void your contract, depending on the company.

I imagine violating a timeshare contract could cost more than not using it at all.

[mandiees]

I would think that if you violated the contract you would go into foreclosure in the same way that you would with a house. The more I read about timeshares the more they look like a poor investment, especially if you buy from a developer.

[Agent Fred]

Originally Posted by DianaR

Timeshares are a good investment only if you own the company that manages them, or you own the land that the buildings are sitting on.

QFT. I have never heard a "good experience" timeshare story that wasn't part of an ad campaign, and every person I've ever known who had a timeshare wished they could sell it!

[DianaR]

Originally Posted by mandiees

I would think that if you violated the contract you would go into foreclosure in the same way that you would with a house. The more I read about timeshares the more they look like a poor investment, especially if you buy from a developer.

Oh I just bet they charge you some outrageous fee before considering foreclosure.

Since a foreclosure would mess your credit up, fines and fees would be a great revenue generating tool for the mortgage company!