The advent of timeshares began in 1969 in Hawaii, but Florida timeshares quickly became popular, as the first offered in the continental U.S. states. The concept was enticing: you got a "deeded" ownership or a rental/right-to-use ownership for the week or weeks you purchased. Who wouldn't want to spend their vacation at Disneyworld in a nice condo with two bedrooms, a fully-equipped kitchen and a pool? If you had a large family, it was certainly better than staying in a cramped hotel room or paying top dollar to stay at a Disneyworld resort. Right? It depends.

If you put a pencil to your "investment," you might find that your timeshare cost more than you bargained for. Early investors in timeshares in the 1970s no doubt paid more for their timeshare than what they could sell it for today. A quick glance at some timeshares being offered for sale (2-bedroom, 2-bath resort) in the Disneyworld area shows sales at about $4,500-6,000 for a prime summer week and an off-season week for $1,500-$3,000. By now, those early investors have most likely paid off their timeshares, but they are still paying several hundred dollars per year for maintenance, in addition to "special assessments."

Maintenance fees will vary by location and resort, but could cost $200 to $1,000 per year. Granted, real estate values in central Florida have increased substantially, but it is doubtful that your Florida timeshare has increased in value. In fact, research shows that most timeshares sell for 20 to 70 percent less than the original price.

Initially, your Orlando timeshare may have been a good investment because your family wanted to spend all their vacations at Disneyworld. But what happens when your children grow up and you no longer want to see Mickey and his friends year in and year out? At this point, you could try selling your timeshare or exchanging your timeshare for a rental in a different location. 

In the mid-1970s, exchange companies like RCI and Interval International came into the picture. They provided the means to exchange your timeshare and spend a week or two at a timeshare somewhere else. There was, of course, a membership fee to join as well as an exchange fee. The upside was that you could stay at a comparable timeshare in a destination of your choice. But, staying in Hawaii during winter holidays was not available to you unless you owned a timeshare at a prime location for a week or two in the prime "red" season. If you add the exchange fees to the maintenance fees, perhaps you could have rented a two-bedroom resort condo, beachfront vacation home or cottage in Hawaii for the same amount?

Many people in the Disneyworld area purchased condos, homes and cottages for the specific purpose of renting them to vacationers. For example, if your one-week timeshare rental in Orlando costs $600 a year for maintenance, and the exchange fee and membership cost about $100, it's likely you would be able to find a vacation home, condo or resort villa to rent in Kissimmee for a week for that same $700.

Ask any financial advisor about timeshares and they'll probably tell you that it's not a good investment. Why? Because you're not buying the property; you're buying the time. You can sell a "deeded" timeshare, but it isn't easy and rarely profitable. In fact, most bankruptcy cases assign timeshares a zero asset value. Even charities won't take them because of the yearly maintenance fees.

Before you buy a timeshare, do some research. You may find that renting Kissimmee villas, as opposed to buying a piece of the Disney dream, might be more financially feasible in the long and short term.

This sage advice for travelers tempted by timeshares was contributed by Sharon Lea Hill. 

Find ratings and reviews for Kissimmee FL vacations from TripAdvisor, Frommers, Fodors, etc. all in one place.