Is Timeshare ownership right for you?

If you've ever been on a timeshare tour and sat through a sales pitch you know the sales person can be very convincing. They will assure you that owning a timeshare is a wonderful asset that you will enjoy for the rest of your life. Before you make that decision to buy, ask yourself these questions

1. Will I go on a 7 night vacation every year for the rest of my life?

2. How much will a week actually cost me in the end? And how does that compare to what I would normally spend for a 7 night vacation?

3. If I can't use the week, what will I do with it?

4. Do I know anyone who would buy this week from me if I can't use it? And how much would they pay for it?

One of the sales pitches you may hear is "if you cant use the week, you can rent it out to someone and make some money". Do you realize if you rent your week out to someone, you are responsible for all stolen or broken items in the unit? (so you should only rent to people you know and trust) Do you know anyone that you could rent this unit to if you're not able to use it?

They may even tell you "if you can't use the week, we can rent it out for you". We actually tried this and they rented out our week. Within a couple of weeks we received a check for $49. Yes, $49 is what we received for the week!

Figuring out how much a week will really cost you is easy to do.

How old are you and how many vacations will you get out of this timeshare ownership?

Lets say you pay cash so we can figure this without any interest added.

Say you are 40 years old. You plan to take a 7 night vacation each year for the next 25 years. You paid $25,000 cash so it appears that your timeshare vacation costs $1000 each year for the next 25 years. Not a bad price for a 7 night vacation in a condo. Now add in your annual maintenance fee, lets say that is $500/year. The cost of your vacation is now $1500 every year for the next 25 years. If you exchange your unit for another destination, add in that exchange fee, approx $100. Now your vacation is $1600. Now lets say you can't use the vacation 5 times over the next 25 years and they expire. We will now divide the money you paid for the timeshare by 20 years rather than 25. Suddenly your cost for your week is nearly $2000.

If you financed the timeshare then you would of course add in the interest you paid, making it well over $2000/year for your 7 night vacation. Therefore if you rent if for any less than $2000+ it would actually cost you money. If the sales person tells you "you can make money by renting your week to your friends or family" ...ask yourself once again, do I know anyone that I could rent my unit to for 2000+ cash for 7 nights? And I stress $2000 CASH because they wouldnt be able to pay you with a credit card!

If you plan to exchange your unit for another destination, will you be able to travel where you want, when you want? Probably not, but you can travel off season. Honestly, would it cost you $2000 to rent a condo in the off season? Do some research. If you are exchanging for another destination then you are probably a member of RCI or another similar company. Dont forget to add that annual membership fee into the cost of your week, and of course the exchange fee.

Some weeks can be gifted, meaning you can give them to your friends or family. Wow, what a great gift! A very expensive gift, costing you over $2000! Yes, that is what you actually paid for the week that you would be giving away. Not to mention, there is a fee for gifting a week.

Dont fall for the famous saying "this offer is good for today only" because if you try to say no and walk away you will most definitely hear those words. Rest assured if you want to buy and require more time to think about it, the offer will be available again and again and again.

If you decide to buy the timeshare ownership and you later find that maybe it wasnt right for you. Can you sell it back to the resort? Probably not! Most likely you would be responsible for selling it. Now, go check the market and see what "timeshares" are selling for. (Approx. 1/4 of what you paid for it) How do you get out of timeshare ownership? That is a great question to ask the sales person!

-Christy Pearson

Longboat Key, FL

My husband and I choose Longboat Key, Florida for the site of our honeymoon and we are so glad we did. We flew in to Tampa airport and rented a car to drive into Longboat Key. We stayed at an awesome resort called Longboat Key Club & Resort.

We went in September, which is off-season, so we felt like the entire beach was our own. The resort has a private beach and let me tell you the beach was totally awesome…the sand is white and so soft. It was like nothing I had ever seen before. We spent the majority of our time lounging on the beach and going on long beach walks. You can search for sand dollars and shells galore.

The water is clear and calm, not rough with waves, making it an awesome place for children. There were many childrens activities and childcare services available. The resort had lounge umbrella cabanas that they will set up for you and they even provide the towels for the beach, pool & jacuzzi.

Since we went on the off season a lot of the activities in the towns we’re closed. However some area’s we visited while we were there were St. Armand Circle which has a lot of shopping and dining. Some of the hotels have a bus that will pick you up and take you to St. Armand Circle for a few hours and then pick you back up. We visited Siesta Key & Anna Maria Island beaches which are beautiful. While there we visited some of their shopping areas and dining. We went to Mixon Fruit Farm where we took a tour of their fruit fields. They also had an animal rescue and we got to see some of the animals they have helped.

After visiting this beach we have decided we will not be going any place other than the white-sands of Longboat Key, Florida.

Thank you Amy & Dave for the beautiful pictures and info on Longboat Key, FL. It's definitely a place I plan to vacation with my family!

-Christy Pearson

Myrtle Beach, SC

On a recent trip to Myrtle Beach, SC we discovered several new "time saving" highways that lead right to the beach and several new condos under construction. Our favorite time to visit Myrtle Beach, SC is in September when the weather is still warm, the beaches are quiet, the crouds are starting to fade away and the traffic is at a minimum.

A typical September day at Myrtle Beach, SC

While on vacation we spent a day at Celebrity Circle where we enjoyed visiting The Ripleys Aquarium. There were aquariums reaching from the floor to the ceiling with a vast array of tropical fish. We were fascinated by their beauty!

Here are a couple of pictures taken in the walk through tunnel where several species of shark swam over our heads. It was quite interesting to observe these predators and how different their movements were compared to the tropical fish.

There were several other exhibits including a stingray pool where we were invited to reach in and touch them. Awesome!

At Celebrity Circle we stopped by Build a Bear Workshop to make a special teddy bear and then to Ridemakerz to pick out the parts and build our own remote control monster truck.

There are several shops and restaurants around Celebrity Circle but Joe's Crab Shack was a favorite of ours! We had lunch outside on the deck overlooking the lake. There was a childrens play area to keep them busy while we waited for our lunch and the kids really enjoyed watching a worker twist balloons and make animals for them. And I must say the food was fabulous!

An all time favorite of mine is of course the Tanger Outlets! What a great place to go shopping! I always find great deals on just about anything I am looking for. Be sure to visit the Tanger office to pick up your coupon booklet! Around Myrtle Beach there are many shops where you can buy Myrtle Beach apparel, swimsuits, souviners, even hermit crabs, and we brought a few of those home with us this time...

The kids had a great time at the Family Kingdom Amusement Park! There they have rides for all ages from 2-3 years old and up.

A couple of kid friendly restaurants are Thorny's where they have a kids play area located right inside the restaurant. And a local citizen of Myrtle Beach suggested we visit Surfs Up located in North Myrtle Beach where the kids can enjoy many games and activities!

Surfside Beach is just a few minutes south of Myrtle Beach. There you will find Wild Water & Wheels. They have 24 waterslides, a wave pool, lazy river, mini golf, go carts, bumper boats and more. Go early and enjoy the whole day there!

Another favorite of ours was the Fire Island Grille located in Barefoot Landing where the food was super fabulous and we were treated like celebrities, seriously! Inside the restaurant is a tropical atmosphere decorated with palm trees and totem poles. An absolute a must see!

Also at Barefoot Landing you will find Alligator Adventure, The Alabama Theatre, The House of Blues, and many other restaurants and shops. Walk through the Mirror Maze, or get your picture taken with a baby tiger or a chimpanzee at The Tiger Preservation Station. Enjoy some shopping and have lunch or dinner. Plan to be there for a few hours.

When you arrive in Myrtle Beach be sure to stop in one of their visitor centers to pick up a free coupon book. You will find numerous coupons for dining, shopping, golf, mini golf, shows and more!

-Christy Pearson