Please tell Michelle Singletary ["Time-Share Resale Is No Walk on the Beach," Business, June 23] that not everyone buys a property or a vacation time share for resale value. Some buyers are motivated by their desire to spend their precious downtime in decent accommodations. Having a permanently deeded vacation property can also be a boon for families or couples who want to enjoy a vacation tradition in the same location, with the ability to will the deed to a future generation.
I own two time-share weeks with a reputable hospitality company. Both properties' values have nearly doubled in less than 10 years. The maintenance fees are comparable to my homeowners association fees for my primary residence. I paid off my loans for the vacation time shares in less time than most people pay off their depreciation-intensive cars. My annual cost, including the exchange fee and the maintenance, is less than the cost of staying at a three-star hotel for a week. With hotel rates and taxes soaring above $150 a night in most cities and vacation spots, owning a time-share property makes good fiscal sense for those who take their vacation time seriously and want to stay somewhere that is as nice or nicer than their own residence.
The reader who wanted to remain anonymous regarding the annual fees has it all wrong; renting may be cheaper or as expensive as owning a time share, but renters have significantly less trading power than time-share owners. Renters get the leftovers that no one wants, such as parking-lot views in Hawaii. You get what you pay for. Those who choose to spend less will get less. It's all about value.
Real estate purchases such as time shares are not solely performed to reap increased resale values. Singletary's mercenary perspective shortchanged the public from seeing any benefit to time-share ownership.
-- Kate Schwarz