Selling & Buying a Timeshare

Buying timeshares- is it a good investment?

2009-10-12T11:07:00.000-07:00

Most people would not consider buying timeshares as good investment because good investment means making money and we all know that timeshare doesn’t do that. However at the time when I bought my first timeshare, which was nearly 10 years ago, I wanted to see how buying a timeshare could be a good investment, for instance, will it at least going to save me the money I’m going to spend anyway? I began by factoring 30 good years of travel, what would that cost be for that amount of time. Then comparing between with and without owning to determine which would cost less. In the end it was far less to own, so I bought.

The funny thing about it is was I was never a big on traveling. Saving money and getting ahead matter me the most. But then I began to evaluate my yearly accomplishments. What I kept seeing was a person who was hard working go-getter but that was the extent of it. I didn’t have anything else to show for other than working my but off and that bothered me.

Learning to have fun with my timeshare

Its so easy to lose track of time especially when you love the work that you do but, I began to realize that making time to do other things is just as important. My timeshare has helped me to just that. Add to the fact that I have to pay the annual maintenance fee whether I use it or not was also a good motivator to use it.

Having Fond Memories

There are so many fond memories I now have from my timeshare travels that hard work and no play has become a thing of the past. This year I used my points going on several short trips. My fondest moment was at Hilton Hawaiian Village. Couple of my closest friends and I decided to go there to celebrate Valentines Day somehow it ended up becoming a weekend escapade. We went out dancing till wee hours of the night, we drank so much, thank goodness we cabbed it, spend the following day baking under the sun, what we were trying to do was sweat out the alcohol from the previous night. Then enjoyed teppanyaki dinner at the end of the day. Our trip was packed with so many silly and hilarious memories that when it was time to leave we made a pack to do this again as soon as possible.

Giving as gifts to people that means a lot to me

I enjoy giving my points as gifts. My work takes up large portion of my time, which limits me from spending it with those that are dear. Using points just to express my gratitude to friends has been worth it. My dear friend Ian wanted to do something special for his parents for their 40^th anniversary this year. I offered to use my points to put them up at a beautiful beachfront resort as a gift. They got to enjoy a fabulous 2-bedroom suite overlooking the famous Waikiki beach. The reason I got them the 2-bedroom suite was so that Ian could be with them. However Ian never got to because his parents were too involved with celebrating their anniversary by themselves.

Although buying timeshares may not be the smartest investment, I don’t regret spending a single dime on buying mine. Buying timeshare was a good investment, I only regret not buying it sooner.

Bonnie

How to Buy a Timeshare – that will keep up with your active life

2009-10-05T17:08:00.000-07:00

If you’re shopping around to buy a timeshare - that will keep up with your active life, then you will want to read this article.

Timeshare has gone through many facelifts during the past decades, and it is a household name today. This because they are located in the forefront of travel destinations through out the world. Resorts are offering much more amenities for people to enjoy, plus they’re beautiful and luxurious. What tops it further is the points system and the club, this offers owners full travel-service so that they can arrange their entire vacation with one call.

Does it matter where you own?

It depends, if you’re going to the same location year after year, then yes there is an advantage to where you own. However if you plan to travel to different locations then owning in a particular area does not matter unless you plan on selling down the road.

I need lots of flexibility plus quality and want to go everywhere.

Points system that also offers the club, like Hilton, Starwood, Wyndham is ideal. By owning with these developers you can visit all of their resorts, their affiliates and their hotels, which will increase more places for you to visit. The points system and the club provide the flexibility to travel your way with the ease of one stop call. For instance you can travel less than a week or longer. Do a combination of hotel and air, resort stay and car, or cruise and air. Since these names are synonymous with quality you are assured to get quality places.

I’m a last minute traveler.

Many owners love to travel last minute. These companies actually have program that rewards you for just that. This is one of my favorite reasons why I enjoy owning myself.

I want to eventually transfer it to my kids but don’t know if they want to use it?

As longs as the kids are going to travel then they will be enjoying it since you can go everywhere with it. You don’t even have to worry about their travel preference, since timeshare offers just about all types of travel options.

I want to spend, as little amount of maintenance fee as possible, is one location lower than other for the same type of program?

Yes, for instance Hawaii tends to be lower than Florida.

Bonnie

Developer Credibility Really Counts When You Sell a Timeshare

2009-09-22T12:50:00.000-07:00

I’ve been in the timeshare business here in Hawaii for years and I love it.

Waikiki attracts more repeat visitors than any other island in the world. Quite a number of them have been returning each and every year since the 80’s.

Years ago I bought a two-bedroom beachfront condo in Waikiki from a well known and well respected timeshare developer. I’ve used it myself, rented it out, and even put up visiting guests in it.

It’s one of the best investments I’ve ever made. However, not everybody has been as lucky.

This is a true but sad story that I just recently learned. A couple that owned a mom & pop timeshare just got burned because of shoddy developer’s neglect. And this could have been easily prevented. Here’s what happened to them.

This couple has been vacationing in Hawaii every year for over twenty years. How they were able to do so with their modest income was because of their timeshare.

They bought a resort located in the back end of Waikiki, with minimum amenities. Their ownership type is leasehold – and the lease expires in 2010, so their timeshare will soon cease to exist. They couldn’t sell it if they wanted to. But they knew this would happen when they bought it.

None-the-less, after all these wonderful years visiting, the couple wanted to have a spectacular ending. They doubled up their time by borrowing a week from 2010 and paid up front 2 weeks of their maintenance fees. They planned to celebrate their 50^th anniversary during their final stay at their resort.

Here’s the neglect by the developer

Two weeks after confirming their reservation, the bomb drops. They receive a notice that the resort has shut down and is no longer in business. Their reservation is cancelled and it’s no longer valid.

Did the developer give them a refund?

They spent $1400 on maintenance fees to reserve their time. However, they will not see their money because the developer chose not to refund them.

So they turn to an attorney to seek advice and help. Unfortunately the legal fees would end up costing as much as the refund.

So in the end they decide to just let the whole fiasco go and try to put this nightmare behind them.

What about their plans for their 50^th anniversary visit?

The good news is they weren’t about to let this bitter experience ruin their 50^th anniversary plans. What they ended up doing was have their friend book them into his beautiful modern timeshare resort that’s located in the newest redevelopment of Waikiki.

Matter of fact, as I write this, they are having a wonderful time and savoring all the reasons that always made them want to return in the first place.

My advice to anyone who has considered selling their timeshare

Be familiar with your developer and know their past history and reputation. The last thing you want happening when you sell a timeshare is to find out that your developer lacks credibility and is known for their lack of respect. This type of reputation could scare any buyer away from what you are selling.

Here’s the good news!

We are in the credibility era where respectable developers now dominate the industry. This is great news because they come with proven track records and they can back it up. There’s nothing better than doing business with a developer that you can trust and there are many that are out there. Choose wisely and you can enjoy a lifetime of great hassle-free vacations.

Bonnie

Selling A Timeshare - How to Cut Risks & Increase Profits

2009-09-14T18:26:00.000-07:00

Selling a timeshare can be a costly and risky process especially when you're not sure how to go about it. However if you’re willing to apply some time and research, you will find that the outcome of selling a timeshare can be worthwhile ultimately saving you time, money and peace of mind.

The first thing that I recommend is determine if you want to sell it yourself or hire a resell company to help you. Regardless of which one you decide to go with, having as much information about what you own will go a long way to help you sell your timeshare with ease.

Use the Resources Already Available to You and Sell it Yourself

Start by contacting your Home Resort’s Developer, Resort Manager and/or Owners Association. Usually they have communication channels where owners can advertise their timeshare for sell, such as bulletin board, a website to newsletter.
Advertisers – such as Craigs List, & Ebay or local newspapers will be the least cost to you, since you’re eliminating the middle man.
Reseller may save you time and give you a peace of mind. However you want to spend sometime researching for reputable resell companies that you can trust working with. The last thing you want happening is to have a risky and costly transaction.

Here are some guidelines that I would use

Licensed resellers – They will help you get better results. They have real estate license and they get paid after the sale is completed. That means they are just as eager as you are about selling your timeshare. They also know the ins and outs of what needs to be done in order to properly execute your transaction, which will give you a peace of mind.

Lets face it - you want to avoid things like receiving maintenance bill or other miscellaneous matters from the Developer after the sale. So working with a credible reseller does pay off, because they can help you from preventing these minor issues from happening to you.

What to Look for in a Resell Company

Here are few basic rules when you’re shopping around for Resell Companies to help you selling a timeshare:

Have a written contract that spells out exactly what the fees and services are going to be offered prior to paying the resell company. Reputable companies will want to be on the same page with you and want to work together with you to achieve the common goal.
Do a background check on the company that you are considering doing business with, are their fees reasonable or too high or too low, and what are the customer satisfaction history. You might need to do further check.
Shop around and compare prices and services and then decide which company you will work with.

Once you’ve made your decision with the company you’re going to give your business to, then sit back reap the rewards that will follow. You have taken the necessary steps to avoid costly and risky process for selling your timeshare.

Wish you much success!

Bonnie