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New Here and have some questions,

JAbbott

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Lawai Beach Resort, Wyndham Kona Hawaiian
Hi all, I am new to timeshares, and have not bought anything yet. I have two buddies who have them, one RCI (weeks only) and one Intrawest.

I have been doing some reading and asking and have figured out a few things relevant to our family dynamics etc.

I am going to concentrate on RCI. I think, for what we are after it will fit the closest.

For a first purchase I will buy a points based timeshare, for the flexibility.

I have been watching (and have unsuccesfully lowball bid) a couple of ebay timeshares.

So I understand a point is a point is a point. I have been told to get the most points for the least maintenance.

In watching auctions and though observation it seems to me that a maintenance charge of less than $100.00 / 10,000 points is a good deal, around $100.00 is average, and getting more expensive as it goes up.

I wonder why maintenance can be so much lower at one resort than another. I imagine the calibre (gold, silver, etc) would have some bearing on the maintenance. Are there risks indicated if the maintenance is ridiculously low?

As far as lifestyle, my wife and I (and the teenagers for a little while longer) still like to camp in the summer. We are thinking of a winter break somewhere. So in the neighbourhood of 40K points per year for a week, or building up two years worth for a longer vacation every two, also the possiblitily of buying points to top up? It would not bother me if I never saw the resort I bought, and strictly used it as an exchange!

What have I missed?

Thanks
James

PS, I think I have read most of the newbie advice here already.
 

Egret1986

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I wonder why maintenance can be so much lower at one resort than another. I imagine the calibre (gold, silver, etc) would have some bearing on the maintenance. Are there risks indicated if the maintenance is ridiculously low?

As far as lifestyle, my wife and I (and the teenagers for a little while longer) still like to camp in the summer. We are thinking of a winter break somewhere. So in the neighbourhood of 40K points per year for a week, or building up two years worth for a longer vacation every two, also the possiblitily of buying points to top up? It would not bother me if I never saw the resort I bought, and strictly used it as an exchange!

There are many factors why maintenance can be so much lower at one resort than another. I won't go into all that I can think of, but the management of the resort can stongly affect this. A poorly managed resort can cause the maintenance fees to be too high or too low. Mismanagement and use of funds can cause fees to be high. Also there has been many discussions on TUG about folks walking away from their timeshare ownerships and now the remaining paying members must cover the expenses and fees go up. Conversely, a poor management may be reflected in too low of fees and the resort is not maintained well or no reserves are built up to cover future unexpected maintenance issues. Early on in our timesharing lives, we purchased a timeshare, originally Gold Crown, with average maintenance fees. Due to the poor manangement of the resort, the resort's maintenance fees escalated, it lost it's amenities, the unit's were in disrepair, it lost its Gold Crown rating to being non-rated. Eventually in order to get the units updated, a large 3-year special assessment was instituted (in addition to a high maintenance fee). However, the amenities required an additional fee in order to use them. Lucky for us, we were able to quit claim the timeshare back to the resort, but that was several years ago and few resorts will allow that now.

I have a few RCI Points timeshares and don't use the actual resorts. I use the Points to go other places.

Points are flexible. Before I added a couple of other Points timeshares, I was using more than my allotted annual points and borrowing from the next year. I rented additional points from RCI (for last minute 7500 point exchanges). If your family can be flexible and you can utilize the last minute exchanges, you can potentially get more than one week of vacation out of 40,000 points or you can visit resorts in the off season and have lower points requirements for the exchange and potentially get a couple of vacations.

You are correct on the points-to-maintenance fee ratio. Since most resorts charge the same maintenance fee for an off season week (a lower amount of points) as for a prime season week (higher amount of points), I recommend buying the best season week that you can for that resort. Why pay a $400 maintenance fee at a resort for an annual 40,000 points when you can possibly pay $400 for 55,000 points?

I personally feel the underlying week has considerable importance, especially if you decide to sell it in the future. Timeshares can be hard to get rid of and I feel that a desirable underlying week is beneficial should you decide to sell it or give it away in the future.

Welcome to TUG! :)
 

JAbbott

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Lawai Beach Resort, Wyndham Kona Hawaiian
You are correct on the points-to-maintenance fee ratio. Since most resorts charge the same maintenance fee for an off season week (a lower amount of points) as for a prime season week (higher amount of points), I recommend buying the best season week that you can for that resort. Why pay a $400 maintenance fee at a resort for an annual 40,000 points when you can possibly pay $400 for 55,000 points?

I personally feel the underlying week has considerable importance, especially if you decide to sell it in the future. Timeshares can be hard to get rid of and I feel that a desirable underlying week is beneficial should you decide to sell it or give it away in the future.

Welcome to TUG! :)

So you are suggesting that even if I am really only interested in the points number, for resale value the week should be taken into account, especially for resale. In that case would a floating week be better or worse than a fixed week in a points system?
If I get the timeshare for next to nothing is that still a consideration, if I plan to use the points or share them with my family?

Oh, and thanks for the consideration in your reply!

James
 

Egret1986

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Some folks don't care about the underlying week ~ Points are Points

That is a personal consideration for me (in addition to management of resort, points-to-maintenance fee ratio, purchase price, location, week) if I ever decide to get rid of the timeshare in the future. Some folks aren't interested in Points. If there is a prime underlying week that is desirable, then the week can be taken out of Points to be sold if necessary. Once again, this is a personal criteria for me. Others are less concerned about this.

I am not fond of floating weeks. I would much rather have a fixed week. My RCI Points resorts are all fixed weeks. As far as Points, I'm not sure though that there would be any negatives to a floating week. There are many RCI Points owners on TUG and I am sure one or more will chime in and share their thoughts. I had two non-Points timeshares that were floating weeks and I did not like having to try and reserve the weeks I wanted. However, I doubt that this would come into play with Points. I'm not sure. My preference for a fixed week in Points falls back to trying to sell it in the future and wanting to have a desirable week that someone would want in a sought-after location.

Quote:
"If I get the timeshare for next to nothing is that still a consideration, if I plan to use the points or share them with my family?"


A consideration for me; yes. For others; maybe no.

Once again, some folks can't get rid of their timeshare even when they are willing to give them away and pay all related fees. You're stuck with the ongoing fees (maintenance, special assessments, RCI fees) until you can get rid of it, unless you walk away from your obligation and risk your credit standing.


Maybe a Moderator will move this to the Points Discussion. I think it would be better if you had a more rounded discussion.

There is always the 3-year Points Lease that is dicussed here on TUG to try things out for three years and be under no obligations at the end of the three years. Have you done any reading in the Points Forum? There is a lot of info regarding RCI Points there with varying opinions. Good luck to you!
 

pgrrider

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Sorry, but i never did understand "points"......

I never did understand "points" when purchasing any timeshare week.....

We have owned at the Royal Resorts in Cancun for 20 years now, and over that time period, have purchased a total of 9 weeks (never owned all 9 at the same time!) BUT...when we purchased, it seemed so much simpler when we purchase a week.....the sales rep sits down with us and shows us the location of the villa...presents us with a paper listing the price for that unit for each of the 51 weeks for which it is sold (1 week -closed for large maintenence projects!). According to demand, the very same villa has different prices.... We make up our minds as to what location, floor and week- sign the papers - establish method of payment....AND we now own that particular week (any week, 1-51).

Each year, we receive a bill for the annual maintenence fee....and we are done..!!!

If we do not use our assigned week that we purchased and do not rent it out or bank it......IT STAYS VACANT FOR THAT WEEK..!

Much easier to make flight arrangements, in advance, when you know exactly when you are going.... as opposed to having "FLOATING TIME" when you choose which week that you want to go....and then try to make flight arrangements... Which comes first..?? Making the flight arrangements or calling and trying to get the week that you want.... ?? Seems so much easier to KNOW which week you own... Just my 2 cents being offered. :wave:
 

DaveNV

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Much easier to make flight arrangements, in advance, when you know exactly when you are going.... as opposed to having "FLOATING TIME" when you choose which week that you want to go....and then try to make flight arrangements... Which comes first..?? Making the flight arrangements or calling and trying to get the week that you want.... ?? Seems so much easier to KNOW which week you own... Just my 2 cents being offered. :wave:


I actually prefer floating weeks, because I like to see places at different times of the year. Hawaii in Winter lets you see whales, stormy weather, and big surf. Hawaii in Summer brings luxurious days lounging on the beach, warm water, and lots of warming sunshine. If I had to stay at the same resort during the same week every time I went, I'd soon grow tired of the place. I enjoy variety.

Dave
 

chriskre

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DVC- SSR, Poly,
Wyndham Las Cascadas
HGVC Tuscany Village
Bluegreen CMV UDI
RCI pts at VVParkway
Enchanted Isle resort.
I own a little of everything. 3 fixed weeks, one RCI points and 3 other points systems.

Personally, I am one of those people who doesn't care what my underlying week is with my RCI points account.

I have yet to stay there and never plan on staying there, unless I trade back in on a 7500 point deal which is very possible.

As far as resale, since it's an Orlando resort, to me it has no resale value so who cares. I don't plan on selling it anytime soon but if I did, I'm sure someone would be happy owning it just like I do and using it similar to how I use it. I am able to squeeze 3 weeks of vacations out of my triennial 25K a year points. I can bank my points and also borrow if I need all 75K that goes with my underlying week. I have yet to use all 75K though at once. I usually use this for my 7500 point last minute deals. So if you only need 40K points a year you might want to consider a biennial contract. I pay $700 every 3 years for 75K points. That is a little less than $100 per 10,000 points. Considering I get 3 weeks of vacations a year out of it that is almost 9 weeks of vacation every 3 years for my $700 plus exchange fees, of course. Averages about $300 or less per week and it's usually in a 2 bedroom. Can't beat that with a stick. And like some like to say, cheaper than Motel 6. :D
 

JMAESD84

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Since virtually every RCI points resort is not one of the hotel brand resorts you are almost certain to get what you want at a very good price.

The beauty of RCI points is the almost unmatched flexibility, so you will be taking advantage of that flexibility and will hardly ever be using your underlying week. However, the underlying week still should be an important consideration in where you buy. Find a resort that you would be happy to use if RCI folds up. Don't underestimate RCI's ability to screw up badly at some point. ALWAYS buy the week at that resort that has the most points = best maintenance fee ratio. Good management and stable maintenance fees are the best friend of the timeshare owner and should always be sought out.

When you need to sell, your RCI Points buyer, will probably be looking to use a similar criteria to the above.

P.S. If you're going to be vacationing in Orlando at all or would love Disney World vacations....don't buy your RCI points in the Orlando area. With a large enough RCI points account you can do Orlando trips easy and even Disney World stays for a lot cheaper than Disney owners. But.....like all great exchange deals it may not last forever.
 
Last edited:

JAbbott

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These are great comments, thanks.

James
 

toby9116

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We always but floating weeks because situations change and we do not want to be locked into a fixed week. If you plan ahead you can get the week you want at the resort. We buy where we want to travel so we do not have to pay the exchange fees for every week, they can add up in a hurry. We try to but at resorts that are controlled by resort owners ass with good track record on keeping fees in line, or right to use contracts with a cap on fees. Resorts where a week can be held over until the next year are a plus for skipping a year and doing 2 week the next year with minimal or no additional cost. If resort has 2 bedroom lockout units we buy them for added flexibility, bringing along an adult child, relatives with similar likes and daily schedules, very close friends or splitting unit for 2 week stay.
Being from a cold climate we buy where it is warm because if we choose not to use a week it is easy to find friends or coworker anxious to rent at a minor profit. We usually rent for maintenance fees + what an exchange fee would be + guest cert charge. We buy at resorts that have maintenance fees from $650 - $ 950.
We rarely deposit a week for exchange. We have a 3 year lease points resort we use for exchanges. If we want to try a weeks exchange, because inventory is different from weeks to weeks by points, we deposit a unit that can be converted to a pfd if we do not find an exchange. This keeps initial costs low and allows for easy exit strategy.
Remember if you open a points account you can enter up to 5 or 7 (can not remember #) names on account. It is easier to put them on now than trying to add names in the future.
We have a partnership with another couple which allows us to mix and match resort our vacation needs without paying guest fees.
Our approach will not work you most people but works well for us.
Before you buy is the time to ask questions and be sure you know what you are buying and how it can be used


12 timeshare weeks, 4 Global Vacation Network weeks, 63000 RCI points and still buying.
 

John Cummings

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I never did understand "points" when purchasing any timeshare week.....

We have owned at the Royal Resorts in Cancun for 20 years now, and over that time period, have purchased a total of 9 weeks (never owned all 9 at the same time!) BUT...when we purchased, it seemed so much simpler when we purchase a week.....the sales rep sits down with us and shows us the location of the villa...presents us with a paper listing the price for that unit for each of the 51 weeks for which it is sold (1 week -closed for large maintenence projects!). According to demand, the very same villa has different prices.... We make up our minds as to what location, floor and week- sign the papers - establish method of payment....AND we now own that particular week (any week, 1-51).

Each year, we receive a bill for the annual maintenence fee....and we are done..!!!

If we do not use our assigned week that we purchased and do not rent it out or bank it......IT STAYS VACANT FOR THAT WEEK..!

Much easier to make flight arrangements, in advance, when you know exactly when you are going.... as opposed to having "FLOATING TIME" when you choose which week that you want to go....and then try to make flight arrangements... Which comes first..?? Making the flight arrangements or calling and trying to get the week that you want.... ?? Seems so much easier to KNOW which week you own... Just my 2 cents being offered. :wave:

I have owned floating weeks for 22 years and never had a problem. Personally I would never consider a fixed week. You first reserve the week you want and then make your travel arrangements. You are going to reserve your week several months in advance so airfare, etc. is not a problem.
 
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