I own 6 weeks of timeshares. 2 units Christmas week in St Thomas USVI. I use the Christmas weeks every year. For my family it has worked out well. It works best if you have a lot of flexibility in scheduling time off. I also give weeks away to employees etc. So it just depends on what you are looking to get from it.
Problem with Christmas week is that airfares are sky high. I own a Christmas and New Years week in Cancun and from Louisville cost runs $600 to $900 ech in coach. We often go from Indianapolis or even Nashville to get into the $500 range. When we had young children, only Christmas week worked. New Years week often ended past the start of school. We still use the week most years. Still I'd be better off as a renter than as an owner. YMMV (your mileage may vary)!!! Enjoy your timeshare.
Yes, Christmas to New Years airfare is sky high. I use my points/miles ever year just to cover that vacation. So since everything is prepaid we go all out when there. I don't have to really budget.
I own two. One I bought last week because it was simply a great deal, and something I'll use every other year (at a comparable discount to what I'd pay for hotel when I consider maintenance fees) in Vegas. The other is an HGVC affiliated resort in Marco Island, and our family has history with Marco Island, so we were comfortable with the location and HGVC. We'll actually be using that for an Exchange so the wife and I can spend a week in Paris in a Studio vs. a hotel room - at least this year. Other years, we'll likely end up using it on site for a beach vacation. The years we don't, the options are RCI exchange, HGVC points conversion/banking for the next year, or simply renting out our week (I researched this, and it's about a 70% likelihood that it happens). As always, YMMV.
You can do pretty well with timeshares if you know how to do it. Tug2.net is really a great place to learn very much like what FT and MP are to frequent flyer community. I own 3 timeshares two annual (marriotts) and bi-annual (starwood). Each year we get between 5-6 weeks of vacation out of those. Maintenace fees are about $2800, add another ~$800-$1000 in exchange fees, etc. and we're in 2 br (sleeps at least 6) resorts for less than $100/night. The first week we bought from the developer and I'll chalk that up to the cost of education. The last two were bought on Ebay for a fraction of the original cost. We have trips already scheduled over the next year for Hawaii (2 weeks), Bahamas, Newport Coast, California and St. Thomas.
If anyone will be at the Chicago Seminars next weekend, gomike will be giving a talk about timeshares and the education he has received on tug2.net. I got a preview and the value he gets is amazing.
agreed !, we just used for a trip in spring 2012. bingo, besides the other costs mentioned, make sure you know the assessment history. On a personal note, TS are not really our way of traveling, we rarely stay in one place for more than 4 days.
Another endorsement of tug2.net. I am no longer a member there but the info I got was invaluable. I bought two South African timeshares awhile back- the exchange rate of the rand was in my favor and I figured out how to work the system- we went to Assisi Italy, New York City, San Franciso, San Diego, Ormond Beach, the Pocanos, and throughout the midwest. To get the best exchanges,we hadto book far in advance- 18 months to a year. Also, our costs went up, the rand got stronger and RCI started doing points exchanges. As the kids got older (high school and jobs) it got harder to plan that far ahead. I was able to sell them for what I paid (about $400 for each weeek). If I were to stay in one again, I would just rent one from the owner.
We own Vacation International (since 1988) and Worldmark. Of course, they do a point system so one is not locked into a particular location. If I had to pay a big fee up front or take over someone financing, I would not do it. The cost of the annual maintenance fees are such that the facilities are not really free. I don't find it a particularly good deal to buy into. However, it is true that I have some points to use every year. The places are invariably very nice, large, roomy and lower in cost (the maintenance fees) than if I rented the same facilities outright. We will continue to use these programs. At the same time, I plan to look into the other resources mentioned for places that we want to visit that do not have facilities with VI or WM.
I think you are confusing Kaanapali and Kapalua. The Westin timeshares (WKORV & WKORVnorth) are located north of Black Rock but are still on Kaanapali Beach and is on the leeward side of the island. Kapalua is further north and is MUCH windier and weter. I have stayed at WKORV and have not found it any windier than the Westin Hotel.
