Timeshare or no?

[jozzmenia]

Timeshares????

I don't know which thread this would go in, but I wanted to discuss the pros and cons of different timeshares, including Disney and the different options. We bought one while we were in Orlando over the weekend and we are trying to assess all of the information that we can before it's too late to cancel.

OK, we bought in Fairfield Bonner Creek.

Pros:
-Located "on" Disney property. Yes we know it's not officially on property, but with the location it might as well be. You can't beat the location for a non-disney property.

-Points system instead of the weeks system (my uncle has a fixed week at Westgate Lakes and I would hate that). It works for us because we are more likely to take 2-4 nights at a time, not a full week.

-Pretty cheap. $200+/month. We just divide it between my boyfriend and I and it's like $100 per person each month. After 10 years we own it, but we may triple the payments to pay it off in 10 years so we don't have all the interest. Maintenance fees if I remember correctly were like $60 something per year. For that cost we have about 7-10 days of vacation per year, depending on the season and where we go, plus the bonus was the point equivalent of about 3 weeks to a month (one time bonus).

-Reasonably low rate to exchange with non-Fairfield (RCI) properties and can use your points at any Farifield owned property without the fees.

-Gorgeous rooms/resort with view of Epcot/Illuminations, waterslide, lazy river, golf course, bball, vball, etc.


Cons:

-$1200 downpayment :brick:

-not Disney.

-peak season travel would use too many points.

-Poor shuttle system to parks.

-I'm sure you guys can name others.

Since we're young with no kids yet, we would mostly travel in the off-season anyway, and Thanksgiving counts as value season so that's great.

Anyway, I want to hear people's views on this and other timeshares and timeshares in general so we can have an idea whether or not to cancel. What have u heard?

Thanks!

 

[Since1976]

I own a bi-annual timeshare through Sheraton. Not only does it allow freedom of timing (every other year instead of every year), but also freedom of destination. So, I can choose to go to Orlando any time of year every other year, or another Sheraton Vacation Ownership resort in another part of the country (limited, of course, by the points available through my home resort). Or, though it's unlikely I will ever do this, I can trade my week for another hotel through RCI.

So far, I am happy with Sheraton, but I am a bit disappointed that the once yearly maintenance fees have risen every year. There is also the risk, as with any timeshare, that Sheraton will sell their properties to another company which is not as reputable.

Now that I am 4 years into my ownership, I am excited at the prospect of having payment-free resort stays in about 6 years. I'm pretty young also, so there will be plenty of time to use my ownership to visit WDW.

 

[artvandelay]

The $60 maitenenance fee for a year doesn't sound right. I own 2 timeshares, one Disney and one RCI, and the average mait. fee is between $400 and $600 a year.

On Average, DVC mait. fee's go up 3% a year.

 

[jozzmenia]

The $60 maitenenance fee for a year doesn't sound right. I own 2 timeshares, one Disney and one RCI, and the average mait. fee is between $400 and $600 a year.

On Average, DVC mait. fee's go up 3% a year.

i think it's $22/month actually. i need to look. but you're right it wasn't 60. i was thinking of something else. :hammer: