Time Shares--I've never understood them

USAToday on Jan. 18 had an article about a well-educated, wealthy couple who were apparently not real smart about money. Their marriage was in trouble. So they accepted a free week-end at a resort, and were "suckered into" buying a time share during a week (October ) they can't possibly use! They have school age children.

$18,000 for one week
$1,150 annual fees
$90 annual club fees
$200 trade fee for a different week

She blames the beauty, excitement and charismatic salespeople. I see her dilemma (divorcing while trying to cut expenses and sell it), but we did something slightly similar in the heat of the moonlight when we bought a lake lot in Indiana we really couldn't use. However, we paid $10,000 for it and sold it a year later for $25,000.

Monday Memories of Heritage Lake, Indiana

The date on this photo is 1992 and it was taken at my sister-in-law's home on Heritage Lake, a 320 acre lake near Coatsville and Danville, IN west of Indianapolis. She's a lot of fun and a great hostess, always has a crowd around her. One night while visiting there we went for a moonlight boat ride--it was warm and balmy, the music was playing, we were all having a great time, sigh.

Well, the lot next to her was for sale--$25,000. We decided in the heat of the moon to make an offer--but weren't terribly serious because we already had a second home on Lake Erie. Truly, I've put more thought into buying a pair of shoes. We made an offer through a sales agent (a niece) of $10,000. We knew they'd already turned down $20,000, although since then the husband had died. We left and continued on to my parents' home in Illinois not giving it another thought. One evening we got a phone call from the realtor that our offer had been accepted! We were practically in shock--we hardly remembered the moonlight and the crazy offer for a lot 4 hours driving time from Columbus.

We kept the lot about a year, visiting it occasionally and looking at the beautiful view of the water, then listed it for $25,000, and it sold almost immediately. I just googled a lake front lot on Heritage (don't seem to be many now), and it was around $114,000.

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My visitors and those I'll visit this week are:Ma, Viamarie, Mrs. Lifecruiser, Debbie, Lazy Daisy, Lady Bug, Janene, Michelle, Anna, ChelleY. Jen, Melli Becki, Paul, Friday's Child, Irish Church Lady,Cozy Reader

Heritage Lake, Indiana
vacation property
impulse buying