Showing posts with label time-shares. Show all posts
Showing posts with label time-shares. Show all posts

Tuesday, February 16, 2010

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.