Selling a timeshare in Madeira

lingwood

My Parents bought one 4 years ago in Madeira, nothing wrong with it and in fact they got it at a good price for 10 years (6 now left) for 1 week (wk 33) in a 1 bed apartment which sleeps 4

They paid £3600 for the 10 years, and then it is about another £360 per year for “maintenance” fees.

Flights usually cost them about £500 for both of them for 1 week.

So total costs per year for 2 people work out at about £1220, which compares well to broacher prices via Thomas Cook at nearly £1600 for 2 people for the week.

So really they have saved nearly £3800 over 10 years.

But they are still looking to sell on, any advice?

Ms_Chocaholic

It may seem a good price BUT it means that they have to go to the same place, year after year after year.

BTW are you trying to attract a bit of business in timeshares ?

lingwood

Firstly NO I do not work in the timeshare bussiness.

Secondly, what is wrong with going to the same place year after year?

Lots of people buy their own holiday home.

Maybe the thread should have been titled,

" buy a time share and save money"?

As you do hear so many horror stories, but as I was typing it out I though this is not that bad, and actualy a MSE saving plan.

sheslookinhot

lingwood wrote: »

My Parents bought one 4 years ago in Madeira, nothing wrong with it and in fact they got it at a good price for 10 years (6 now left) for 1 week (wk 33) in a 1 bed apartment which sleeps 4

They paid £3600 for the 10 years, and then it is about another £360 per year for “maintenance” fees.

Flights usually cost them about £500 for both of them for 1 week.

So total costs per year for 2 people work out at about £1220, which compares well to broacher prices via Thomas Cook at nearly £1600 for 2 people for the week.

So really they have saved nearly £3800 over 10 years.

But they are still looking to sell on, any advice?

Keep trying to convince yourself it was a good deal, but no one else will be convinced. A week in a 4/5 star hotel would not be as much.

antenna

In reality this has/will cost them over £10000 over 10 years,so tell me,where is the saving?.Has the maintenance never increased?,and where have they put all the money they "saved".......6 years to go and they are already counting their "savings"............i would be more inclined to count my "losings" for the next 6 years....still,it may get a 99p bid on ebay.

antenna

Lets say they sold it for £1000( Never in a Million Years),this means they have paid to the sharks £4000 plus 4x £500 for flights,thats £6000,that sounds like £1500 per year,and by your figures its cheaper to book with Thomas Cook.....but if they only get 99p for it then the cost is £5000 plus flights £2000 £1750 per year for a £1200 holiday...what a bargain....and for that reason I Am Out.

pjran

lingwood wrote: »

My Parents bought one 4 years ago in Madeira, nothing wrong with it and in fact they got it at a good price for 10 years (6 now left) for 1 week (wk 33) in a 1 bed apartment which sleeps 4

They paid £3600 for the 10 years, and then it is about another £360 per year for “maintenance” fees.

Flights usually cost them about £500 for both of them for 1 week.

So total costs per year for 2 people work out at about £1220, which compares well to broacher prices via Thomas Cook at nearly £1600 for 2 people for the week.

So really they have saved nearly £3800 over 10 years.

But they are still looking to sell on, any advice?

They could join an international exchange company. We have done this in the past and have had some wonderful exchanges. The quality of the accom is usually very good too but you must do your homework first. The maintenance fees are a lot less than ours!

antenna

pjran wrote: »

They could join an international exchange company. We have done this in the past and have had some wonderful exchanges. The quality of the accom is usually very good too but you must do your homework first. The maintenance fees are a lot less than ours!

Pray tell.........How much to join? How much to Exchange?....because it is not free is it?
And the jury is still out on the exceptionally low annual maintenance fee,surely a typo?

antenna

pjran wrote: »

They could join an international exchange company. We have done this in the past and have had some wonderful exchanges. The quality of the accom is usually very good too but you must do your homework first. The maintenance fees are a lot less than ours!

THEY WANT TO SELL.......not throw any more money away.

budgetflyer

In reality, unfortunately, the resale price will be much much lower than what they paid from new.
http://www.timeshare-hypermarket.com/ offer a genuine resale service.
I have used them for both buying and selling timeshares and have always received fantastic service

Leanne1812

My advice would be to do as I eventually did with the biggest mistake we ever made, stop paying the maintenance and let the company repossess. It was the only way we were ever going to get shot of ours. We tried giving it away for free and still no-one wanted it........I know why!!

Hubby still never lets me forget our £5000 one week break in florida......