You Own HOW Many Weeks of Timeshare?

By Lisa Ann Schreier, Founder of Timeshare Insights

It’s true. More than 60% of all timeshare owners own more than one timeshare. And while those diehard timeshare nay-sayers out there may find it hard to believe, timeshare owners report an 88% satisfaction rate with their timeshare experiences---that is AFTER the dreaded timeshare sales presentation

So why purchase more than just one timeshare? Well, before we talk with some actual satisfied owners, let’s look at some reasons to own more than one timeshare:

• You vacation more than one week a year. Just as I ask people who consult me about a possible timeshare purchase, “if you had it, would you use it?” many multiple timeshare owners vacation more than one week a year and see additional timeshares as a natural progression.
• There is no perfect timeshare out there. RCI currently has about 3,750 resorts worldwide. II has almost 2,100 resorts in their network. There are brand name timeshares, point-based timeshares, timeshares on the water, timeshares on a golf course, urban timeshares, small timeshares and mega-timeshares (for more details on Where The Timeshares Are see “Timeshare Vacations For Dummies” published by Wiley and Sons.) No timeshare is perfect for all needs and all people, so why not mix it up?
  
• You share your timeshares with co-workers. Although you should never buy any timeshare as a business investment, it is true that many business owners are using timeshare “perks” for their employees.
  
• You have more than one child and are planning on leaving a timeshare to each of them. Although it is true that many less than ethical timeshare salesperson have tried to “guilt” consumers into buying by using such tedious and hackneyed phrases such as, “Well Mr. and Mrs. Smith…you have 2 timeshares and 3 children. Which one of your children do you love the least?” for some timeshare owners, the ability to will their timeshare does play an important role in their purchasing decision.
  
• You got a great deal on your second or third timeshare. Most consumers still purchase their first timeshare “new” or from the developer. And while these timeshares are almost universally higher priced than timeshares on the secondary market, the industry still refuses to educate consumers about timeshare, and that is one of the reasons that there is a glut of “used” timeshare on the market. Letting consumers know the truth about timeshare is the primary reason my first book, “Surviving A Timeshare Presentation…Confessions From The Sales Table”, published by Insight Publishing, has made me a virtual pariah in the industry. However, once consumers find out about the secondary market, and become savvy enough to ask the right questions, they usually discover a world of timeshare that is available for much less than “retail.”

So who are these multiple timeshare owners? Let’s meet some of then and ask them some questions:

Frank D. from Florida

I bought my first 2 timeshares in 1986, on Cape Cod, Massachusetts…full retail pricel. Five years later, I bought 2 more, at the same resort, at wholesale. (I learned).

I now own 8 timeshares, 4 on Cape Cod , 1 in Bradenton, Florida, 1 in Carlsbad, California, 1 in Aruba, and 1 in Saint Maartin.

Since my first 2 in 1986, all others were purchased wholesale, namely from owners wanting to sell. (Yes, I certainly learned).

The reason I purchased initially was the location, Cape Cod, as well as the unit, a single family, stand-alone cottage, near the beach, during the 10-week high season. I lived near Boston at the time, and it was only a 90-minute drive to the resort.

My second and third purchases were for exchanges only.

I have never used my Carlsbad or Bradenton timeshares at those locations and I have always got good exchanges for them.

I have learned that if you shop around, you can find great bargains, generally by finding units that are for sale by the original owner. I then can either use them myself, or for exchange, or for rental, or to offer their usage as wedding gifts, or for reunions with my family. But the price has to be right! I now exchange 6 of my 8 timeshares annually.

I belong to both RCI and II because I find that each has unique positives and negatives. I have no plans to discontinue belonging to either exchange company.

Timeshare has been an absolute, total enjoyment for me, my friends, and family members for the past 20 years. It's too bad most people have not had the opportunity to have a personal experience with interval ownership. But once people are exposed to timeshare vacations, chances are they will be "hooked", as I was.

Don R. from Prince Edward Island, Canada

We purchased our first timeshare in 1985 and believe it to be the best investment we have ever invested in.

The second one was purchased in 1989 and the third one was in 1995. We currently own six weeks but have deeded three weeks under my mom and dad's name so that all my family members can enjoy their vacations together.

We have four weeks at one resort in Orlando and two weeks at another, just down the street.

The first time we were introduced to the first resort we purchased at we fell in love with the development and envisioned bringing our family to a development, we were owners of, and using the value of real estate money from 1985.

The reason for the rest was, and still is, the fact that we take our winter vacation for 4-6 weeks and this was the best investment.

The timeshare ownership experience is a guarantee that you will always have a quality vacation, wherever you want, in the world.

Obviously we are very happy with our experiences and have probably traded 50/50 throughout the world. Our trades are through RCI as we have found them to be the best service provider and are very user friendly.

When anyone states that they believe timeshares are a waste of money we can illustrate our story to them on paper and it is very hard to debate the facts on paper (budget wise).

So, is it time for you to jump in and get yourself another timeshare? Just as there is no perfect timeshare for everyone, there is no one answer to this question.

However, it’s a good idea to make sure that you are making the best of what you already have. Here are some tips:

• Are you taking advantage of RCI’s Getaway Week and/or II’s Bonus Week program? Oftentimes you can get additional weeks of vacation at outstanding resorts for less than the cost of an additional yearly maintenance. While it may be true that Getaway/Bonus Weeks are difficult or impossible to find in Venice, Italy or in New York City, they are easy to get in the spring and fall in Orlando, and non-holiday time at most locations.
• Are you using your lock-off unit properly? Although you may have purchased a 2 or even a 3-bedroom lock-off (a/k/a lock-out), you’d be surprised how many times owners forget to split that unit correctly to get multiple weeks. Most 2-bedroom lock-off units can be used for 1 week in a 2-bedroom OR 2 weeks each in a 1-bedroom. While some resorts charge a fee for this usage-always ask if this fee can be waived-the fee is considerably less than purchasing another week. Use your lock-off wisely!
• If you own RCI Points, are you taking advantage of the 45 day or less policy? Again, although too many timeshare salespeople have pitched way too much heat about this, bragging that “this 2-bedroom will get you 89,000 points a year…that more than 9 weeks vacation every year!” the truth is that if you make your reservation less than 45 days from date of check-in, available weeks require 9,000 or less points. As with Getaway and Bonus Weeks, you’re not usually going to get Christmas Week in the Alps or Memorial Day on Cape Cod, but flexibility does pay off!

For additional information on timeshares, contact Timeshare Insights (www.timeshareinsights.com). Both of the books mentioned in this piece “Surviving A Timeshare Presentation…Confessions From The Sales Table” and “Timeshare Vacations For Dummies” can be ordered there.

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