June 11, 2007
As most of you know, I purchased a timeshare last year in an attempt to assuage my inner guilt at not buying one while on my honeymoon in Hawaii. The current timeshare hasn’t really done anything for me except tie up a chunk of money that I could use for vacation expenses and I’m contemplating selling my unit.
After looking at a Budget Travel expert discussion on timeshares, I did a comparative study – rudimentary – on renting versus buying when it comes to vacations. I used the figures from my ‘lost’ Hawaii timeshare so I would be comparing apples to apples.
If you take a look at Kauai vacation homes (http://www.hawaiianbeachrentals.com/Hawaii/Kauai/rentals1.htm) – and I include the entire link here so you can see where this jumps to – you’ll run into a variety of places and prices for rentals. I’m not sure how well this site works because I’ve never used them, but it’s just an example.
So, factor in the $3000 I would have paid back in 1997 for the Maui timeshare. Then look at Kauai vacation homes to view room rates per night. Most, as you’ll see, come in at $150+ per night which comes out to more than $1000 per week. From my experience, this is pretty good. But if I owned a timeshare already, the $3000 would have been paid off and I’d likely only be paying $500 per year for maintenance (mostly because it’s now a decade later). I think maintenance back then was in the $200 range.
So is Kauai vacation homes a place a good deal? You decide. I was unable to find a timeshare trade in France for this summer, so I’m renting there for two weeks. It might be costing me around a grand, but I think it’s the right decision at the right time for me. Other trips might be different.
More to come…