Original Message:
BEFORE you buy, do the math to see how much it's actually going to cost you... (by William S.):
We own multiple timeshares, but honestly, if I'd done the math before ever buying (even at resale prices) I'm not sure I ever would have bought any timeshare ever.
Here's an example: Right now we are looking at buying a few Maui resale weeks. These units rent for $799 to $1099 approximately plus taxes per day at HOTEL websites (full price). Here's what our 10 year costs would be:
$27000 X 2 purchase price for the resales... plus $2850 fees. Total purchase price: 56850.
$3450 per unit per year maintenance fees for 2019, with approximate 10-15% increase year over year..... approximately $89000 in 10 year maintenance fees
For a total of $145,850 for 10 year ownership. That's $14585 a year, $1041 per night for each of the 14 night stays.
Have I saved anything? NOT REALLY.
Over 20 years, will I save anything?