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| Topic | Anyone own a timeshare? Thinking about buying one. |
| IdiotMachine 12/31/22 7:30:14 PM #1: | Off a resale website for $1. Deeded, fixed week in the summer (July), 4 bedroom/4 bathroom unit, 2023 maintenance cost $900/yr (prepaid by seller); maintenance cost increases at an average rate of 7% per year, and there were no special assessment fees in the years owned by the current seller. We go to this vacation area once a year (except 2020/2021 due to Covid), and now that we have a kid and have a desire to travel with our parents (so they can watch our kid while we have fun lol), this is starting to make more sense at ~$130/day (vs what would cost at least $300/day for two rooms at a hotel during peak season). And once our kid(s) grow up / our parents can no longer travel in 5-10 years time, just re-sell the timeshare for $1+closing+transfer cost (no clue how much this is; thoughts?). Anyone have experience with timeshare? Anyone see a flaw in this logic? --- https://i.imgur.com/XNEdLrJ.png ... Copied to Clipboard! |
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