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Re: Remembering why you bought your timeshare! (by Don P.):

I agree with a lot of what was said. I also want to address the changes in the industry over the years. I bought my first timeshare back in the days when it was just beginning. My first timeshare was in Atlantic City, New Jersey. It was a thirteen year contract. I enjoyed using it and trading with RCI for other destinations.

Years after that timeshare expired I purchased one in Las Vegas to use exclusively to travel there. I also purchased two in Ormond Beach, Florida to use just for exchanges. I traveled extensively using exchanges through RCI. I enjoyed my exchanges throughout the USA and Europe.

Then things changed. RCI was bought out by Cendant and corporate greed kicked in. They began to sell the more desirable weeks on the open market depriving owners of the choice exchanges. I had to settle for locations that were available rather than what I wanted. I used up the weeks I had banked and the time I had left with my contract with RCI. I then rented out my weeks until I could get rid of the two Ormond Beach timeshares. I kept the Las Vegas timeshare because like you said it is a location that I travel to often and would never part with.

Then the industry changed again. They started to sell points. The problem that I have with points is that they can sell more points than they have units. So what do they do. They include run down resorts to use as locations to say they have units available. The expense of purchasing points in some programs has become so high that the some corporations use high pressure sales tactics and misrepresentations to sell them. They keep the prospective buyers at the presentation for hours wearing them down and bringing in their closers to get them to sign on the dotted line.

A lot of people purchase these programs when they are in a state of euphoria while on vacation in a beautiful resort. Then when they get home and reality settles in they realize what they committed themselves to. A lot of them signed finanace agreements with high interest rates to purchase their plans. Most of them realize this after the recission period and are now bound by what they agreed to.

People should take responsibility for what they do but I can see room for improvement in the process. I would also like to see and exit program for people who need to rid themselves of their property. There are too many defaults that drive up maintenance fees for the other owners. By coming up with an exit plan HOAs could get new owners to pay the fees they are losing along with the legal fees the have to spend to only get the property back at the end.

I believe that most owners are satisfied and happy with their purchases but it can be better if everyone could be that satisfied. These forums are a great way to open the conversation and hopefully come up with some solutions to make timeshare ownership better.