I purchased one about 10 years ago... during my non MMM phase. (Could not think of what else to do with my bonus.... grrrr to old me)
Timeshares
1) The ones with exchange programs are best for people with very flexible schedules (not travelling on holidays), that like travelling "off season". Many RE people I know love theirs for the same reason I dislike it. I have not been able to make an exchange for the past 2.5 years, despite leaving things wide open and looking far, far in advance. I have kids in school. Summer in the midwest or northern states, anywhere at christmas, summer in the rockies and weekends at ski hills in season are all hard to book. Europe is a challenge, too , most units are in "cottage country" not near cities...(air BNB and travel hacking is so much better for Europe).
2) You are better going for an every other week, with the lower annual dues and overall commitment. After 5 years, you will no longer think you have too many points. I could easily use mine and alternate with variety vacations each year. The annual dues keep increasing. Some people wanting more exchange "points" will buy a second very cheap unit in south america. Those are the ones that already find they travel a lot and use up all their points quickly and know what they are getting into.
3) Buy used, and treat it like a sunk expense, that you will donate for $0 when you are done with it, just to get rid of the maintenance fee. (Those start at $600 per year to over $1000/yr for many of the nicer locations like Hawaii or DVC).
4) Alternate if you know you will never move from your location -- get a week at a place you love, that you can drive to each year. Those airline fees can really add up, so much so that it makes more sense to airBNB or rent from another timeshare owner. (
5) You can airBNB your week, with some (paying a guest certificate) or sell your use points at 75% of your annual maintenance fee, which is a hassle, but a decent backstop.
6) many of the exchange properties (with RCI, a big outfit) are not high end "resort"... I am not fancy, and love having separate bedrooms and a full kitchen in a great location, so that is A-OK with me, but to read other reviews, a lot of people out there really want that Disney or Marriot quality experience.
7) COSTS -- It costs $130+ a year for the exchange program registration, $70 to $160 per booking (for a week), sometimes there is a housekeeping or resort fee on top, plus maintenance fees of $500 to $1200 per year (or more). Exchanging into Hawaii (other than an interior island golf unit) could cost you $1100 for 7 nights, for a unit away from walking to restaurant/tourist areas, that was last renovated in 1986. Still a deal... if you did not pay much up front to buy your timeshare initially.
7b) Cheaper cost options -- buy used, keep a fixed week a year, and never exchange it. $800/yr (est) maintenance fees + initial cost for 7 days per year.
If it still makes sense, then yeah, go for it. Just be warned that like a boat or RV with annual costs and storage fees, it can get tiring quickly.
CHECK IT OUT This is the best website for Resales and Rentals (most are offered directly by owners)
TUG2.NET
tug2.net