Approxiamatley how much does the average 1 week time share "purchase" not rental cost?

Question

I just purchased a timeshare in which you can trade your week for various location for other 5 star resorts and would like to know other's experiences with these and if i paid wayyy to much. Is there a loan usually taken out on these things and how is the interest?

Answer 1

I sat through a time share presentation in Orlando. Sounded great when they show me some that they just got back and were offering to me for 60% less. I managed to get out without buying. When I got home, I check eBay, and saw that I can get it cheaper on eBay.

Check eBay to see if there is a comparable property. That will tell you what it is really worth.
Also search websites like this to see how yours compares.

http://www.buyandselltimeshares.com/

Good luck!

Answer 2

Time shares are generally priced based on two things: FIRST--demand for the resort (often color coded such as red, white and blue --or platinum, gold, silver--from highest to lowest, based on season). The SECOND pricing criteria is LENGTH of ownership. Many time shares are now DEEDED-meaning you own it forever, can gift or sell it or pass it by will; another form allows you access for a number of years (RIGHT TO USE). Again, check your paperwork to see what you bought. There is a SEPARATE annual membership fee and usage fee for the exchange network, sometimes called RCI (Resort Condominiums International) or II (Interval International). This is over and above your annual maintenance fee for useage of the week at your home resort and mortgage payment (if any). The resort usually pays your first year's fee in the exchange company.
The higher the demand, the higher the price. Certainly, any week near Disney World in Florida year round will cost way more than a February week on the coast of North Carolina. Both may be MAGNIFICENT resorts, but weather plays a big part in demand. You pay the exchange company's annual fee whether you trade or not, as well as your unit's maintenance whether you use it or not. You may have the right to rent it out for income (check with your exchange company for their rules on this). They can range from under $ 10,000 to way above $ 50,000. That is the PURCHASE PRICE ONLY, and does not include any maintenance or exchange fees, due every year before usage and occupancy.

Answer 3

probably 10 times more than it's worth