We are thinking about a Timeshare Purchase, what's your honest opinion???

Hello all,

My wife and I are new to Red Week and joined to start doing some purchase research.

We love Marco Island Florida and have been renting a home for the past couple years, we like to travel in late Sept.- early Oct, the "off season". We like having our own pool and spa, but its a pain to drive and a walk to the beach, then try to find chairs. We visited the Eagles Nest and liked what we saw, there are many opportunities to buy a flex share there for around $3000.00 + yearly fee's approx. $1200. Even if we can catch a "deal" on a house its at least $1600+.

What's your honest opinion on all the above and more?

If it is off season, is the rent reasonable? Hidden cost, membership, booking fee's etc This is a hassle free way to enjoy what you really like with no strings attached, when YOU can go vacation.

Florida is the easiest market to get a great deal, especially off season if you are flexible at all. Thru the Holiday Inn Vacation Club, this is our most expensive resort, (Marco ) all three bedrooms, and signature. Sept is one of the best times to go. 1/2 the points see if this location might work. Finding the right person to rent from, is as hard as finding the right person to rent too

Check rental costs on Redweek and if the rental costs exceed the annual maintenance you can do a simple math equation to figure out if it's worth it to buy the unit yourself. Since you suggest you can travel in off-season my bet is you can rent at maintenance costs without laying out any money. However if rental costs exceed maintenance fess then do the ROI and see when you will recoup your $3k+ out of pocket. So if rental costs are $1700 let's say then you would recoup your costs in 6 years or so, but if rental costs are $1300 then it would take you 30 years to recoup your $3k out of pocket.

I would suggest you do the following:

Get an attorney to read your contract. Consider - do you want to go to the same place every year? Do you want the commitment of paying maintenance fees every year if you do Not use your week? Do you have to pay maintenance fees if you do not go to the resort?

Talk to other owners of the resort - check Facebook for ratings and contacts and reviews of this place.

Find out what you need to do to sell the property if you are no longer interested in it. Make sure your contract states you can rent it, sell it, your kids inherit it, and check to see how easy it is to make reservations at this place at "high" time. Be sure to ask if they rent the resort to weddings etc. which impacts the weeks available to you to use.

How young are you? If you buy a lease or "time" period for how many years is it? Will your kids be responsible for it when you pass? do they want it? Have you typed in the name of the resort and add the words COMPLAINTS to it - i.e. pueblo bonito emerald bay and complaints....and checked those/ Go to the BBB and check the resort. does it have an HOA? If so are there power hungry members on the board who make it miserable for all who own?

One of the problems of NOT having a "fixed time" is that you compete with thousands of others trying to get the time period they want. Even at low season this can be tough.

Hope this helps!

Helen Sabin