Can A Donated Timeshare Be Written off on Taxes?

Every tax season the question “Can I donate a timeshare and write it off for the full purchase price?” is one that often comes up. If you’re an owner, you’re probably going to be disappointed with the answer. The simple answer to this question is “No”. Non monetary donations such as timeshares are deducted from taxes at their fair market value, not the retail price paid. Since the fair market value of resort units is usually a fraction of what … Continue reading

Posted in Donations, Taxes, Timeshares | 3 Comments

Timeshare Investments

If you are ever told that a timeshare is a good investment, that’s a good sign that you should be running away from that sales agent as quickly as possible. Any type of vacation resort purchase isn’t an investment for the vast majority of people. While there are limited circumstances when a one of these can be an investment, these are extremely specialized situations that don’t apply to the vast majority of people. The truth is that timeshares are depreciating … Continue reading

Posted in Myths, Timeshares | 6 Comments

True Costs of Owning A Timeshare

If you ever go to a timeshare sales presentation, you will undoubtedly hear about how the cost of owning a timeshare will be much less than the cost of a regular family vacation using a hotel. This is true if you conveniently only include the cost of transportation and boarding costs. The true cost of owning a timeshare becomes apparent when you begin to add in all the other expenses such as maintenance fees, annual fees, property tax, utilities and … Continue reading

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Timeshare Balloon Strategy

If you follow this blog at all, you already know that one of the things that you need to be particularly diligent about when you are ready to sell your unit is avoiding resale scams. There are countless ways that people will perpetuate fraud in attempt to take money away from you, playing on the knowledge that you want to get out as quickly as possible. One of the more common ways that the resellers are able to convince people … Continue reading

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5 More Post Purchase Timeshare Costs

One of the impressions that salespeople try to give prospective buyers is that once their unit is purchased, they will no longer have any costs to worry about. Unfortunately, this couldn’t be farther from the truth. There are a slew of additional costs that all owners must pay after they make a resort unit purchase. It’s vitally important for prospective buyers to understand what these costs are before making a purchase so that they can accurately assess whether or not … Continue reading

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Vivos Survival Shelter Timeshare Resort

Don’t say that the vacation resorts aren’t attempting to market to every imaginable segment of society when it comes to getting them to buy timeshares. The latest is the Vivos Survial Shelter & Resort which is located 130 feet underground in a 60-acre former military bunker in Atchinson, Kansas which is marketing their “units” to doomsday survivalists by basically selling RV spots in a cave. The Survival Shelter & Resort in Kansas is only open to RV owners who pay … Continue reading

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Five Things Consumer Experts Say About Timeshares

By Danielle W. Timeshares seem to have become a popular discussion topic in the past few years, so you might have already heard a lot of information and details about them from a variety of sources. Some of the information may be good and some may be bad depending on which faction in the debate you have been listening to. However, it’s rare that people provide an objective view on timeshares since they usually have a vested interest one way … Continue reading

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5 Costs Associated with a Timeshare after Buying It

There are a lot of costs associated with timeshares, but sometimes many of these costs come after you’ve already purchased your timeshare. The problem is that there is an assumption by a lot of people who purchase resort units that once the purchase is made, there are few costs beyond that. This assumption is very wrong. If you’re thinking of buying a timeshare, make sure you know what fees and associated costs you’ll bw required to pay on an ongoing … Continue reading

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Dave Ramsey Timeshare Opinion: The Biggest Scam Around

If you have any interest in purchasing a timeshare, one of the places you might want to do some research is seeing what prominent financial and consumer experts have to say about them. Dave Ramsey, who can be arguably considered the best known debt reduction expert out there (as well as being a New York Times best-selling author and host of The Dave Ramsey Show), doesn’t have a very positive view of timeshares (he seems to be in complete agreement … Continue reading

Posted in Costs, Timeshares | 1 Comment

Fairmont Timeshare Owners: Pay to Stay, Pay to Go

One of the main reasons that we don’t recommend timeshare ownership is because of all the risks that come with ownership. The 15,000 owners of Fairmont timeshares in British Columbia, Canada came face to face with these risks when they were informed that they either needed to pay $4,000 in a special assessment fee to renovate the resort and they could keep their unit, or pay $3,000 to get out of their contract. This situation wasn’t the fault of those … Continue reading

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