Reviews | Should doctors own timeshares?

Timeshare has an undeserved bad reputation. I have owned, used and traded my timeshare for great and profitable vacations all over the world for 30 years.

I believe one of the main reasons timeshares get bad press is that the wrong people buy them. When they get upset because their lifestyle, vacation time, or wallet doesn’t allow them to fully enjoy their timeshare, they spread negative vibes. But when you learn how to use a timeshare effectively, it’s clear that Doctors are perfect for being happy timeshare owners – just like I was.

There are millions of happy timeshare owners who go unheard, and this lack of positive information hurts doctors who would be well served by owning a timeshare. Here are the features that make doctors happy timeshare owners. (Please note: I am not associated with the timeshare industry except that I purchased a timeshare week 30 years ago.)

1. Doctors have enough vacation each year to take advantage of timeshare: To take full advantage of timeshare, you must have vacation time to travel. Most doctors have more than 3 weeks vacation each year. I own only one week timeshare and traded it for 8 weeks vacation this year.

Most doctors don’t have 8 weeks vacation, but they have plenty of time to take advantage of hacks that allow us to trade our timeshares for more weeks than we own. Learning these hacks will save you a fortune in travel accommodation.

Many unhappy timeshare owners are people who only have 2 weeks vacation, and they use it every year to visit relatives, go to a class reunion, and take a day off here and there to take a long weekend or do something special for the day. There is no room in their schedule to fit into their timeshare week. Since they don’t use their week, but have paid maintenance fees for their timeshare unit, so they’re upset that they didn’t get what they paid for.

This is not the fault of the timeshare. Those who don’t have enough vacation time to use it shouldn’t own a timeshare, but most doctors do have enough vacation time.

2. Doctors have sufficient disposable income to take a high-end vacation: While it is very cost-effective to use a timeshare for your accommodation, the other costs that come with such a vacation can become high.

Take, for example, my recent timeshare exchange in Orlando, Florida. The timeshare only cost me $199 for the week, but the extras were expensive.

If a family of four were going to take this trip, they would also need four plane tickets, car rental, 5 days of Disney World tickets, food for four, and everything else they needed. planned to make or buy in Orlando. These extras would likely cost upwards of $4,000. Timeshare cost was the biggest deal of the week, saving more than $1,000 on the cost of a hotel stay.

Many people who complain about their timeshares are angry that they can’t afford to take a trip like this every year. On the other hand, doctors can afford to take annual vacations like this, so they would be in a good position to own a timeshare and save a considerable amount of money on vacation accommodation.

3. Doctors can afford to pay cash for their vacations. Most people who buy timeshares do so with borrowed money, thinking they are making an investment.

First of all, you should never pay more than a few thousand dollars for a timeshare on the secondary market.

Second, timeshare is not an investment, it is vacation spending. Vacation expenses are never considered investments. Vacations shouldn’t be done with borrowed money either. If you don’t have the money to pay for a vacation, you don’t have to do anything on that vacation.

Doctors have the money to pay for their vacations without using debt. Those who read my book will learn how to save hundreds of thousands of dollars over their lifetime by taking timeshare vacations like me.

I didn’t know any better then and made the mistake of retail paying for my timeshare when I bought it 30 years ago. If I had known how to get one on the secondary market, I would have saved a lot of money. Even paying a high price for my initial purchase and all the fees I’ve had to pay over the past 30 years, my average cost is just over $600 per week for all of my timeshare vacations over the years. year. You’ll be hard-pressed to find a good hotel for this price, let alone a three-bedroom, two-bathroom unit with a kitchen, living room, and plenty of on-site amenities.

4. Doctors generally have flexibility in their vacations. Many disgruntled timeshare owners have inflexible vacation schedules. They work for someone who does not allow them to be absent when they wish. Those who only have 2 weeks vacation per year with scheduling restrictions have a much harder time using their timeshare.

Doctors generally have very flexible vacation options. I have always booked my vacation over a year in advance so that the call schedule can be set up according to my vacation plans. You can get the most out of your timeshare when you have plenty of flexibility.

If you can only take off the second week of January, you may not find timeshares available in the locations you are looking for, as there are only over 4,000 choices worldwide.

But if you want to go to a tropical beach in January or February, you can easily find a timeshare that meets your stipulations. When you find the timeshare business you want in the fourth week of January, you can then book it as a vacation week.

When you have flexibility in vacation dates, the availability of the trades you want is greatly improved. Physicians have the ability to use timeshare effectively.

5. Doctors have the necessary knowledge to use the timeshare system. Being a good candidate for this vacation option is not enough. You also need to learn how to get the most out of the system in which timeshares are traded.

Doctors have the knowledge and ability to learn the hacks of the system. If we can understand the Krebs cycle, we can understand the timeshare trading system.

The timeshare industry has evolved. When I first purchased my timeshare, I didn’t have the ability to make multiple transactions with my one week of ownership. With the new trading systems, however, I can get all the vacation weeks I want on my ownership week.

Because of this knowledge, there is rarely a good reason for a doctor to have more than a week. Owning a week gets your foot in the door and gives you access to the trading system. I now trade 7-8 weeks a year with my week, and I could have even more. But I also want to go on cruises and use my RV, so I can’t be on vacation with my timeshare all the time. I also want to be home from time to time to see my new grandson.

When I go anywhere for an event, before I get a room at the host hotel, I check if I can get a timeshare nearby, knowing that the accommodation will be better and cost much less than the hotel .

My recent trip to Orlando for FINCON22 is a prime example. Five nights at the hotel where the event was held would have cost me around $1,250. I found a timeshare to redeem four miles away, and it only cost me $199 for the week (+ a $9 Uber ride each way for eight trips). I saved enough money to pay for a first class plane ticket instead of taking a bus. I enjoy bargains like this several times a year.

If you’re a doctor, don’t fall for the stories you’ve heard from people who don’t know how to use their timeshare or who were never good candidates to own one in the first place. Their mythic stories include that you have to stay in the same place every year, maintenance fees are too expensive, you can never trade for what you want, etc.

Don’t seek advice from someone who doesn’t know how to use their timeshare. Learn what you need to know from those who are successful at doing what you want to do, staying inexpensively in great places with high-end, multi-room accommodations. These people have the answers.

Cory Fawcett, MD, is a general surgeon.

This post appeared on KevinMD.

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