Stuck in a Timeshare?
Bob takes a listener's question about a timeshare and the options available to get out.
@gunnersmom thanks for sharing your story. I guess you would also have to add that it depends on the company. I would imagine that not all time share companies are made the same. I would guess if you really worked the system it can be a good investment!
My first husband and I still own the first timeshare we purchased in the mid 1980s. When we first bought it, we went skiing every year -first at that resort and then exchanging it for almost every ski resort in the Rockies. What timeshares force you to do is plan to use them and take vacations. Since that purchase, 4 of us bought into a 2 bedroom lock off that sleeps 8. Each of us can bring a guest if you are ok sharing a bed with them. We have been traveling together for 15 years and it has worked out well. The resorts are all gorgeous and we exchange our home units for other destinations. Not everyone can go each year but we’ve used it every year or saved up for 2 weeks in one year. This is what we are doing in March - all traveling to Maui for 2 weeks. As with most things, it depends on your lifestyle and if you will really use what it is you are purchasing!
My grandparents have had multiple time shares. However, the most recent one they purchased was the Diamond Resorts. They kept haggling my grandparents and upselling them. They ended up getting ridding of it altogether by selling it.