Question

I am so torn- here’s the story. we have a time share to a local resort, we have not traveled with it for almost 3 years. We rarely have gone to the resort to use the amenities either. Back in November/December I listed to sell because I didn’t want to spend the money on the 2020 maintenance fees (even though I had saved for them)- it didn’t sell, and I paid the fees promising myself we would use this dang thing at least once a week, which we have all but one week so far this year. I take our two little girls swimming there and now my oldest (4) asks to go there to go swimming. I was just approached asking if we would still sell it- so now I’m torn! It’s $816 a year. About us- we don’t have a ton of debt, we don’t have a mortgage, we have $1000 on a credit card and my student loans left. What would you do?  

Answer 1

Sell and join a lifetime fitness for less money.  

Comments

@mandie lifetime fitness lets you take your toddlers swimming there?  

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Yes, as long as there is not a class in the pool. The one we used had several pools. it was a wonky schedule, but it was allowed.  

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How much is Lifetime Fitness, our of curiosity? I looked into it years ago and thought it was prettyy expensive.  

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@mandie not even close to being cheaper. Our Lifetime Fitness, without golfing, camping, etc., is $125 month for the entire family. That makes it 2x what she’s paying a year, plus her payment has residual value. Lifetime Fitness is just throwing money at the wind.  

Answer 2

So it’s costing you $15 per week. If you were to continue with taking the kids swimming here or somewhere else every week, would it cost you more or less?  

Comments

@tierney149 that’s a good way to look at it. We bring our friends to swim with us sometimes and I sometimes just feel guilty if we sold it

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@tierney149 terrible reason to keep it btw I know ‍♀️

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@tierney149 so swimming at the other local hotels is $10 a person per day- so it would be $30 just for us, maybe not such a bad deal to keep it then?  

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@emlen335 if you enjoy it and the kids enjoy it just keep it. As long as maintenance doesn’t cost you a fortune.  

Answer 3

I don’t think $816/year is that much for a membership. We pay $280 for our local pool membership that only runs from Memorial Day weekend to Labor Day so roughly three months. As long as you can afford it, I would keep it.  

Comments

@alpert71 we do this same for country club pool

Answer 4

Can you use your timeshare for other vacations? Like in other states and resorts? If so, it might be worth keeping. Most people pay well over $800/yr for vacations.  

Comments

@outlawry oh yes! We have three weeks currently banked ‍♀️

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@emlen335 oh wow! I would kill for that. And it’s paid off, so all you pay is dues? In about 5yrs you’re going to want to vacation more with the kids getting bigger. it might be worth keeping.  

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@outlawry yes, just dues. I have thought that too. I keep a sinking fund for it and have been looking for a cheaper/year option but then I’m kind of starting all over again

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@emlen335 yeah. I get it. That would be hard. Now that I have 3 teens, I wish so bad we had stuck with a timeshare when we were younger and had the money to do it. Our friends travel constantly with theirs and pay $950/yr. makes me crazy! Haha

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@emlen335 that’s even more reason to keep it. 3 weeks banked.  

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@outlawry yes! There is a $200 fee to use it anywhere but still not a terrible deal

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Where did you list your for sell, we want to sell ours we have one to sell, just didn't know how to go about it.  

Answer 5

Sell it.  

Answer 6

I know it’s not the same, but I wish the country club next to me was only $800 to use for just the summer, so what you’re paying, on top of being able to swim year round, use as a gym and potentially take vacations with sounds like a steal!  

Answer 7

Keep it and use it. To stay at a hotel for 3 days is easily $300-$400, make use of it, if you are not going to can u rent it to family

Answer 8

Sell it and join the YMCA

Answer 9

Keeeeeeep it!  

Answer 10

And you can use it World Wide throughout RCI!  

Comments

@apatite yes we just need to USE the vacation weeks haha

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@emlen335 I hear you, we own 3 weeks through Vacation Village! It makes us take vacations because we’re workaholics!  

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@apatite that is my husband too! I work from home and keep our 2 girls home and I need to travel for my sanity- it's been a long 3 years!  

Answer 11

Lots of folks here are saying to sell, but if you are using the sports facility regularly (which sounds wonderful, btw), Then the amount you are paying is worth it. It sounds like the best option for swimming for you. AND you have the vacation benefit. If you don’t use the timeshare weeks, you can donate them to a charity auction and get a write-off (check with your tax professional). My advice: keep it until you and your family stop using the exercise facilities. Then consider selling it if you don’t use the other benefits.  

Comments

@nonfulfillment Claire Scanlon good suggestion! Thank you

Answer 12

Can you rent it out like on air b&b or vrbo? And actually earn an income from it?  

Comments

@diffident oh maybe?! I’m going to call to see!  

Answer 13

If it’s close enough that you are going most weekends and your girls are loving it and making memories, I wouldn’t sell. $816 a year is not a bad price at all for a whole family for fun!  

Comments

Also, you said your oldest is only four? As they get older they are all going to love it even more.  

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@exasperate yes it’s literally up the road from us! ‍♀️ we are home during the day so its nice to go use it and we basically have the place to ourselves

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@emlen335 I have to say in that case I would not give it up.  

Answer 14

If it’s Disney keep it

Comments

@hamhung it’s in cold New Hampshire- but we could travel and exchange to Orlando to go to Disney!  

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@emlen335 I vote for sell if you have a buyer

Answer 15

My suggestion, is to take some quiet time and really lay out the pros and cons. What are you gaining from having it versus what are you losing or sacrificing in your future for it? Decide which is most important to you and know the WHY. Best of luck!  

Comments

@gelignite yes! This has been the struggle for months! ‍♀️‍♀️

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@emlen335 what about your future goals for your kiddos? Maybe think about that area? Just throwing it out there to help trigger a definitive answer.  It’s so dang hard! I have a soon to be “adult” and 2 “adults” now (18, 19, 21). I love hearing the things they remember doing as younger kids. On the flip side, teenagers are expensive and this is when life is SUPER important to them in figuring out who they are and what they want to do. This is an expensive time! I don’t think there is a right or wrong answer. You make the best decisions you can, at the time, and hope/pray it was the right one. Memories are never “wrong”, but there can be term oil in the future if you haven’t eliminated that debt and changed your financial habits. I despise that feeling of “not knowing”! Sending you a cyber  and hope you can be at peace with whatever decision you make!  

Answer 16

We use our RCI like crazy! We’ve planned 3 beach trips this summer with our points. Weeks each. One out of the country. You can’t beat a time share! Keep! Also, can you not list your weeks on vrbo or through a company like RCI If you don’t use them?  

Comments

@bauman Wingler that’s amazing! We have interval (week based) but I’m thinking not renting them would be the same

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@emlen335 with ours if we don’t go to our place in key largo they add 30 points (weeks range from 12-36 normally) and each week we pay around $300 total for a 7 night stay. Or we can rent out our weeks for whatever we want (2kish normally) ourselves and book it through them as a guest coming. Just a idea.  

Answer 17

It’s less than $4 per person per week to swim assuming 4 people go. 1 time per week. as your children grow they’ll love it and want to swim more it’s great for making memories. I would keep it for now it’s pretty cheap when you break down the cost per person.  

Comments

Yes! So thankful for this group (in a lot of ways) but I had never broke it down per person per week before! We are trying to clear out and sell anything that doesn't make sense for us to keep but this one was one of the difficult things I was having a hard time letting go of.  

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@emlen335 eventually as they grow they won’t be as interested in going but you’re a long ways off from that  

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@mambo  

Answer 18

I would keep it, especially after you said it’s a 45 min drive to the Y. You’ll be paying less in fuel prices and because it’s so close and they offer a lot. Especially as your kids get older, there will be more for them to enjoy.  

Answer 19

Has it continually gone up in maintenance fees?  

Comments

Yea, when we bought it 5 years ago the fees were like high $700's so not crazy but like with everything prices keep going up

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@emlen335 my parents have THREE ‍♀️ they never use them, always asking us kids if we want to use them. It’s a generous offer but unless you book out super far in advance, the selection is so slim and of course they nickel and dime you to switch the reservation name, etc. They are gifting them to me in my inheritance and I am trying to figure out if I can refuse them from the estate because I don’t want them  Are the facilities nice? You can probably get a full gym membership for less.  

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@jetty You cant refuse them I’d they’re in the estate. I worked for a company that helped people get out of their timeshares and a big chunk of them were people who got stuck with them when their parents passed. They’re genuinely a nightmare in my opinion- but I’ve heard thousands of horror stories of the elderly being tricked into them, the timeshare companies taking you out for drinks and dining and pressuring you for hours to get you to do it- and then when you decide the next day you made a mistake and didn’t really didn’t want it, they won’t answer your calls to cancel within the timeframe and then you’re screwed. But that’s just been my experience.  

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@lilililia UGH. I appreciate this. I was hoping it would save me the hassle of “selling” them to just flat out refuse them. Of course my parents though they are gifting me something amazing.  

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@jetty The only way I think they can be decent is if you are literally going to use them every single available chance you have. Otherwise you are paying “mortgages” and maintenance fees on top of that that just continue to increase year after year. I watched people who had timeshares that were in areas where hurricanes destroyed them, meaning they cannot go there- and still have to continue paying the mortgage if they have one, the maintenance fees, and then on top of that sometimes special assessment fees to help cover the costs of the damage. It’s crazy.  

Answer 20

Keep it

Answer 21

I would keep it as your kids are just getting to the age to really enjoy it. And $800 a year isn’t bad for a gym membership let alone vacation perks too. With littles that young I can understand why you haven’t used it, but they are getting to the ages where it would be a fun thing.  

Answer 22

It seems to bring your family joy if you take advantage of it and use it

Answer 23

Im not sure if u ca sell it . I got scammed trying to sell it

Answer 24

Sell. Thats my vote. Especially if you have a buyer.  

Answer 25

After reading some of the comments to get a fuller picture: keep it unless there is an equally useful facility equally near for less. (I doubt it) The renting it out is a neat idea, too, if you're allowed to.  

Answer 26

Time shares are ridiculously difficult to sell. You should keep it and use it!  

Answer 27

Can you rent it out?  

Answer 28

Does it bring you and your family joy? If so, I’d keep it!  

Answer 29

Get rid of it if you can. You never profit from owing a timeshare. The maintenance fees will only increase year after year. Find somewhere locally that you take your kids to swim. I just got rid of a timeshare last year.  

Answer 30

Timeshares are very rarely a good thing. I actually used to work for a Timeshare Exit Company that was actually endorsed by Dave Ramsey, and the horror stories I heard literally broke my heart. You said yourself that you haven’t really used it- even though your on a kick with it now for the swimming- will that continue long term? They are typically very very difficult to sell- people list major timeshares for literally a penny and still cannot get rid of them. Some have a time frame but many others will be passed along to your kids and then they are stuck with the dues whether they want it or not. Just some additional things to think about!  

Answer 31

$816/ year isn't that much extra to put towards debt ‍♀️. And I think as long as you are using it almost every week, those memories they make will be worth it. I wish I had things to look back on like that with my family. Maybe at the end of the year ask the kiddos if they want to continue with the resort then make that a big part of their Christmas gift?  

Answer 32

If you didn’t have it, would you think it’s worth buying now? Are the maintenance fees the only cost?  

Answer 33

Ours we bought at a great time, ten years ago! There's now where in the World we can get a 2 bedroom condo with all appliances for 8 hundred dollars, for 21 days.  

Comments

@apatite that’s what we say! We pay $800 a year and then about $300 a trip for 3 bedroom fully furnished condos. Even going to the Bahamas in June. Our timeshare has paid for itself many times over.  

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@apatite do you stay 21 days each year though?  

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@aponte Stradley Yes we do! :)

Answer 34

Sell it! We have timeshare in Aruba 2weeks. It was great when kids were younger. Now we hang at the beach where we live. Both weeks are up for sale. If you want to go visit again, just rent a week. That's our plan.  

Answer 35

I dont know if you can get out of it what you paid for it. Our maintenance fee is 900 year plus were still paying it off. Maybe keep it if your kids are still young.  

Answer 36

Sell. $816 is a lot to pay for your children to go swimming.  

Answer 37

Sell it!  

Answer 38

Keep it

Answer 39

Unless you're staying overnight each year I'd sell it. Where I am at I pay 250 for the year for my kids and I to go to the local awesome pool so I dont know if you have a better option or not?  

Answer 40

Sell it and make new memories

Answer 41

They can be hard to sell so if someone wants to buy, sell it. Make a sinking fund of $816 a year to stay at various places instead. Use things like Hotels. com where if you stay 10 nights you get one free.  

Answer 42

Always take the time to take vacations. Life is too short!  

Answer 43

Sell it! Those things are so hard to get rid of! Use the money to do other things.  

Answer 44

Sell and join a gym or rec center with a pool

Answer 45

The maintenance fees are high. Ours are $532 a year but I don’t have access year round. Tough choice.  

Comments

@doublebreasted yea it’s a yearly 2 bedroom and good trading- which are all things I HAD to have when we bought it  little did I know‍♀️

Answer 46

Keep it