travelplus
newbie
I have done lots of research here on TUGsBBS and have attended many Timeshare Presentations. When you are interested to buy in a particular destination it pays to do your research and even rent from an owner or use one of your other weeks to exchange there.
For instance we stayed a week in a Cascade Unit at the Ridge Tahoe 2 bedroom. We really enjoyed it and while staying there I looked up resales and found a 2 bedroom/2 bath Cascade Unit for $1,200+$980 Maintenance Fee. We purchased it and then have been using it ever since.
As we have other weeks in Interval we have piggybacked them to our Owner Week. Its very helpful to stay 2 weeks or more in one destination to really get to know the area.
Another point we were in Sedona Arizona for 3 weeks.During that time I attended various Timeshare Presentations and enjoyed the Sedona Summit so we found a Resale Online while we were staying at another resort. We got a 2 bedroom/2 bathroom Floating Red Week for $99. The total was $1,200 which included the Maintenance Fee for 2016. Other units were going for more. Closing was included in the cost.
A few years back in Scottsdale we found the Diamond Scottsdale Villa Mirage and got a 2 Beddroom 2 Bath for $900 and the MF is $980 a year.
What you should do before buying anything is to tour the area where you would like your Home Resort. See the resort during the day and night weekends/weekdays. How is the Front Desk Staff? Make a call to the Front Desk and ask questions and see how well they respond.
Go to a Timeshare Presentation and ask all the questions you want and tour a unit. While your unit may be in a different phase more than likely the units will be updated to look just as good as the new units they show you. The Sales Rep does not know you are planning to buy resale. Ask to see the pool, fitness center etc. Use this as your Free Educational Session.
While 90 minutes does seem long in the end you can decide whether or not the resort works foryou.
Remember it helps to have a Home Resort that is easy to get to within 4 hours like our Lake Tahoe Resort. Find out how easy it is to use your Owner Week. Then you can have a Secondary Home Resort in another area that is easy to fly to like Sedona its a 90 minute flight plus a 2 hour drive. While some say its long its not all that bad if you are staying for more than a week.
Point Programs add fees such as Program Member Fees and the Maintenance Fees can be considerably higher than the traditional week owners. For us its not worth going to Tahoe for 2 nights in a Studio. Renting a Car or buying a Flight or Cruise is a poor use of points. You don't save much. Find out the point value(how many cents per point).
Having a Deeded Week is better especially if you plan on not exchanging it. You may decide to only enroll in RCI or Interval on a yearly basis if thats all you need. Don't just enroll in Interval or RCI if you are not planning to use their Getaways or Exchanges. Join TUG BBS and Redweek.com where you can exchange weeks or rent weeks. All you may pay is the Rental Feel +Guest Certificate so essentially you could get bonus time at your Home Resort anytime you see a listing.
Also be sure you record the deed into a Family Trust and name everyone in the trust who will be able to use it. Be sure you get a copy of the Deed and make a copy and put it into a safe or with your Trust Lawyer or Trustee.
Ensure you are given what is owed to you. For instance if the Deed says week 50 but you own a Floating week fix the discrepancy right away. Also get an Estoplell Letter which confirms the week owned by the Seller, If their fees are paid up and the History of the Resort Fees Special Assessments and Maitnenance Fees.
Overall resale is the way to go. As soon as you purchase directly from the developer your unit depreciates so much to the point that your $20,000 goes down the drain and most of the fee is Commission to the Agent, Resort Fees, and the Gifts you get are more than likely built in to the inflated cost.
If given $20,000+ I would rather buy a nice car that gets use every day rather than a week that gets used once per year. Your cost of Membership can increase and the Point Values can change anytime like Frequent Flier Miles.
Weeks are weeks and you may be able to split your unit to get 2 weeks and pay an upgrade fee to get a 2 bedroom for a second week.
With RCI you can split your 2 bedroom Lockoff. Lockoff is the best way to go as you can split it and get 2 weeks in a 2 bedroom depending on how the Trading Power is for the time you want.
Play around with Interval/RCI and figure out how to maximize your useage. Ask owners at the resort you are staying at about how they like the resort, their experiences with the trading, how well the resort upkeep is etc. If you are not comfortable buying now wait. There will always be a better deal.
People rush to buy only to waste time rescinding and then they come here to TUGSBBS and are told to purchase on resale. The same amount of effort minus the sales pitch can save you tons of money. You are not forced when buying resale to buy at the first offer. You can make an offer. So many times the person selling it wants to get rid of it because they are on a fixed income and would be happy to pay the closing costs just to get rid of it.
Remember a timeshare is just a different way of vacationing. Its an investment to your vacation. Think about how happy you will feel buying the Timeshare for less than the Developer at 50-90 percent or even a 100 percent off the cost. People that I have talked to wish they had bought on resale when I told them how much we paid for our resale.
The extra bonuses such as Free Interval Membership do not even add up to what is being offered on resale. Yea a free vaction to Hawaii with airfare has restrictions and you end up paying the taxes. An upgrade to a 2 bedroom may not be guaranteed and is based upon availability.
Always get Floating Weeks as they have more value. Do not buy in places like Orlando as they are overbuilt. Make sure you get a 2 bedroom lockoff as you can split it. A Studio or 1 bedroom may only save you a bit but then when you have a 2 bedroom Lockoff you can invite friends or Family and have the option to split it. A 3 bedroom is even better if you want to split it.
Happy Timesharing To you. MOds you can put this as a Sticky and I look forward to hearing comments and answer any questions. My mission is to help you save money and enjoy Timesharing to its fullest without the guilt of paying a huge upfront fee. Resale+Relaxation=Rejuvination an you can Rejoice knowing you saved tons of money.
For instance we stayed a week in a Cascade Unit at the Ridge Tahoe 2 bedroom. We really enjoyed it and while staying there I looked up resales and found a 2 bedroom/2 bath Cascade Unit for $1,200+$980 Maintenance Fee. We purchased it and then have been using it ever since.
As we have other weeks in Interval we have piggybacked them to our Owner Week. Its very helpful to stay 2 weeks or more in one destination to really get to know the area.
Another point we were in Sedona Arizona for 3 weeks.During that time I attended various Timeshare Presentations and enjoyed the Sedona Summit so we found a Resale Online while we were staying at another resort. We got a 2 bedroom/2 bathroom Floating Red Week for $99. The total was $1,200 which included the Maintenance Fee for 2016. Other units were going for more. Closing was included in the cost.
A few years back in Scottsdale we found the Diamond Scottsdale Villa Mirage and got a 2 Beddroom 2 Bath for $900 and the MF is $980 a year.
What you should do before buying anything is to tour the area where you would like your Home Resort. See the resort during the day and night weekends/weekdays. How is the Front Desk Staff? Make a call to the Front Desk and ask questions and see how well they respond.
Go to a Timeshare Presentation and ask all the questions you want and tour a unit. While your unit may be in a different phase more than likely the units will be updated to look just as good as the new units they show you. The Sales Rep does not know you are planning to buy resale. Ask to see the pool, fitness center etc. Use this as your Free Educational Session.
While 90 minutes does seem long in the end you can decide whether or not the resort works foryou.
Remember it helps to have a Home Resort that is easy to get to within 4 hours like our Lake Tahoe Resort. Find out how easy it is to use your Owner Week. Then you can have a Secondary Home Resort in another area that is easy to fly to like Sedona its a 90 minute flight plus a 2 hour drive. While some say its long its not all that bad if you are staying for more than a week.
Point Programs add fees such as Program Member Fees and the Maintenance Fees can be considerably higher than the traditional week owners. For us its not worth going to Tahoe for 2 nights in a Studio. Renting a Car or buying a Flight or Cruise is a poor use of points. You don't save much. Find out the point value(how many cents per point).
Having a Deeded Week is better especially if you plan on not exchanging it. You may decide to only enroll in RCI or Interval on a yearly basis if thats all you need. Don't just enroll in Interval or RCI if you are not planning to use their Getaways or Exchanges. Join TUG BBS and Redweek.com where you can exchange weeks or rent weeks. All you may pay is the Rental Feel +Guest Certificate so essentially you could get bonus time at your Home Resort anytime you see a listing.
Also be sure you record the deed into a Family Trust and name everyone in the trust who will be able to use it. Be sure you get a copy of the Deed and make a copy and put it into a safe or with your Trust Lawyer or Trustee.
Ensure you are given what is owed to you. For instance if the Deed says week 50 but you own a Floating week fix the discrepancy right away. Also get an Estoplell Letter which confirms the week owned by the Seller, If their fees are paid up and the History of the Resort Fees Special Assessments and Maitnenance Fees.
Overall resale is the way to go. As soon as you purchase directly from the developer your unit depreciates so much to the point that your $20,000 goes down the drain and most of the fee is Commission to the Agent, Resort Fees, and the Gifts you get are more than likely built in to the inflated cost.
If given $20,000+ I would rather buy a nice car that gets use every day rather than a week that gets used once per year. Your cost of Membership can increase and the Point Values can change anytime like Frequent Flier Miles.
Weeks are weeks and you may be able to split your unit to get 2 weeks and pay an upgrade fee to get a 2 bedroom for a second week.
With RCI you can split your 2 bedroom Lockoff. Lockoff is the best way to go as you can split it and get 2 weeks in a 2 bedroom depending on how the Trading Power is for the time you want.
Play around with Interval/RCI and figure out how to maximize your useage. Ask owners at the resort you are staying at about how they like the resort, their experiences with the trading, how well the resort upkeep is etc. If you are not comfortable buying now wait. There will always be a better deal.
People rush to buy only to waste time rescinding and then they come here to TUGSBBS and are told to purchase on resale. The same amount of effort minus the sales pitch can save you tons of money. You are not forced when buying resale to buy at the first offer. You can make an offer. So many times the person selling it wants to get rid of it because they are on a fixed income and would be happy to pay the closing costs just to get rid of it.
Remember a timeshare is just a different way of vacationing. Its an investment to your vacation. Think about how happy you will feel buying the Timeshare for less than the Developer at 50-90 percent or even a 100 percent off the cost. People that I have talked to wish they had bought on resale when I told them how much we paid for our resale.
The extra bonuses such as Free Interval Membership do not even add up to what is being offered on resale. Yea a free vaction to Hawaii with airfare has restrictions and you end up paying the taxes. An upgrade to a 2 bedroom may not be guaranteed and is based upon availability.
Always get Floating Weeks as they have more value. Do not buy in places like Orlando as they are overbuilt. Make sure you get a 2 bedroom lockoff as you can split it. A Studio or 1 bedroom may only save you a bit but then when you have a 2 bedroom Lockoff you can invite friends or Family and have the option to split it. A 3 bedroom is even better if you want to split it.
Happy Timesharing To you. MOds you can put this as a Sticky and I look forward to hearing comments and answer any questions. My mission is to help you save money and enjoy Timesharing to its fullest without the guilt of paying a huge upfront fee. Resale+Relaxation=Rejuvination an you can Rejoice knowing you saved tons of money.