If I Buy 52 Timeshares at One Week a Piece, Do I Never Have to Buy a Home of My Own?
Say, I buy a 00 one-week timeshare off of ebay. Then I buy 51 more of them. Do I never have to buy a house? Can I just live in my timeshares forever?
Say, I buy a 00 one-week timeshare off of ebay. Then I buy 51 more of them. Do I never have to buy a house? Can I just live in my timeshares forever?
in theory yes, i have thought of it many times. but you have to get to the destination. nd make sure there is availability nd you also have to still py the tx and cleaning fee on the timeshare, if you can buy them ll t the same resort chain and the fee to use is low then go for it… but you have to watch the time in between, what if you cant get room for two weeks or the available room you want is in hawaii….
a; it is unlikely that –if the fair market value of 1 week is 2-5k, you will be paying way more for the rest of the TS’s.
b; assessments, like property taxes, can go up as the board deems
necessary.
c; TSs are sold at high profit margins and it more likely that you will
have to pay 3-5x the mortgage rates if you were to acquire
all 52 weeks.
[excluding one trading firm, TSs have no liquid value.]
If you have the money for all of those management fees, go for it.
SURE you could. But you have lots of annual fees also. Cheaper to buy a place than a timeshare, generally, so cost it out carefully. And you don’t choose the furnishings.
I remember several years ago someone figured up how much a car would cost if you bought it a piece at a time from a repair shop instead of all at the same time from a dealer. It was of course much more expensive and you still had to figure out how to put it together.
This is what would happen with the 52 weeks of time shares. It would the most expensive way by far to shelter yourself and very inconvenient. Every time share has a different set of rules of how they will schedule your time- some give you the same week each year and some give you a slightly different time each year. And of course the very fact that it is almost impossible to resell them on the open market should tell you that they are not really worth what you pay for them.
You never have to buy a home.
You could rent all your life.
Owning 1 or 51 timeshares has nothing to do with having to buy a home.
Assuming you can afford such a buy for a year, why would you want to such a thing?