How does a timeshare save me money?

[shifty1981]

So I don't feel like going to a TS presentation to hear the "glorious" ways TSing can save me money. I can think of a few, but hear me out on why I am hesitant to see the value in TSing.

My DW and I know the slick way to get sweet deals on 4 star hotels using Priceline's name-your-price feature. I've stayed at 4 star hotels for $44/night many times. For 6 nights that's $264 for the week. I would love to hear how people can justify paying $800 in yearly fees for a 1 week stay (not including exchange fees, rci membership fee, etc). We've paid for a hotel that includes 3 pools, 2 hot tubs, free buffet breakfast, free shuttle to disney, free wifi, $5 for fridge use, near shopping plaza, etc.

I know there are some good ways (such as a furnished kitchen for cooking in) but I'd love to hear the most practical and typical ways TSing saves money over regular vacationing. If you want to list a luxury it affords you that's fine, but specify that. For example saying "you get to stay in a 5 star resort for on average $110/night" then to me that's a luxury because I would have stayed in a hotel for much less than that and told myself I don't "need" those luxuries a 5 star place brings. if my goal were to save $$ while staying at 5 star places, this question would be much less an issue. But my goal isn't to stay at 5 star places, so really what I'm committing to doing is hoteling with luxury.

Please advise: I am not trying to be a wise@$$. I want to TS (I think), but I want to really know the benefits first over just getting sweet deals on hotels or renting for less than MF from other TS owners. Plus maybe I'll realize some of the hidden costs of hotelling vs TSing. Real world examples would be great.

Thanks!

 

[TUGBrian]

one avenue that might be right up your alley, is renting a timeshare!

are thousands of rentals available for just about everywhere in the world, renting is certainly my suggestion to individuals who are looking to get into timesharing for the first time.

That said, buying resale can certainly be an amazing deal currently, and Im sure many TUGGERS will be along shortly to explain why =)

Welcome to TUG!

-B

 

[shifty1981]

Is there an article/post on tips for renters? I have no idea who to trust (either sites or sellers), what to look for in the post to make sure it's not a scam of some sort, nor what a good deal is. We do almost all things based on "is it a deal". It's just how we operate. Thanks for the quick reply. I read through the ADVICE articles, but am a bit nervous because most seem to be over 10 years old. Perhaps not much has changed though?

 

[Bill4728]

The biggest difference between a hotel and a TS is space.

Most TS are at least a one bd (many two bedrooms) and a full kitchen. So with a TS you'll be staying in a great resort but in a 1-2 bd condo instead of a hotel room.

 

[DeniseM]

Here you go - How to confirm that a rental is legit (when you are the renter)

As Bill said, a timeshare is a full size condo, so you can't really compare a Priceline hotel room to a timeshare. Instead, compare the cost of renting a vacation home, to timesharing. We like Priceline too, but for stays of more than 2 or 3 nights, we vastly prefer a 1 bdm. timeshare.

Also, with Priceline, we often find that we are placed in the smallest size hotel room, with the least desirable view, in the hotel. Which is OK, because we are getting a huge discount. But when you own a timeshare, you are, in most cases, guaranteed to get the size unit and view that you own. For instance, we love the ocean, so we bought an ocean front TS on Kauai, and we know we will always get that view, as long as we reserve early enough.

 

[rhonda]

I happen to enjoy some of the "country club" perks offered by some resorts. One of our timeshares offers its owners free day use including access to: hot springs pool and cool pools, tennis courts, golf, airplane tie down, equestrian center, etc. Specifically, we bought in because our resort dues are far less than owning, boarding and maintaining two horses at nearby facilities.

 

[ace2000]

First, if you pay via PayPal, you'll gain a certain amount of protection. Not saying that PayPal is the only way though... and some will require checks.

After the renter confirms the reservation is placed under your name, most of the time you can call the resort reservations department directly and confirm that your name has been placed on the reservation. If the renter states that they cannot place it under your name, then I'll advise for you to proceed cautiously.

Renting here on TUG would be a great idea... not fully protecting you from any issues, but it does help.

There are all kinds of variables in this equation, and it's hard to make absolute statements that always apply. Hopefully these few tips will help.

 

[krmlaw]

bill, thats why we timeshare - space.

we will never stay in a hotel again!

for example, my MF are 640 a year for a 3 bed lock off. I split my deposits, so I get 2 condos (a 2 bedroom and a studio) to trade.

BOTH pull DVC - they have GREAT trading power.

So for 320 +164 fee, i get (usually) a 2 bedroom condo, sometimes a 3 bedroom.

and for another 320 +164 fee, i get another 1 or 2 bedroom condo.

AND we have kitchen, living, dining, big baths, and private bedrooms.

 

[NWL]

We use ours a bit differently than most people here on TUG. It's our winter getaway. Right now we lock off and use 2 weeks back-to-back in January/February, and rent out the other 2 weeks. Eventually we will use all 4 weeks. It's our "home-away-from-home."

Cheers!

 

[DaveNV]

Here's an example of why I like timesharing:

I own an oceanfront timeshare on Kauai that I visit every two years. I bought it on eBay for less than three hundred dollars. The maintenance fees make my ongoing cost for seven nights less than $150 a night. For that money, I get a ~1000sf direct oceanfront condo that sleeps four, with a full kitchen, in-unit laundry, living room, dining room, two bathrooms, and a large master bedroom with a very comfortable king size bed. The view is unobstructable, and is arguably the best view on the Lihue side of the island. I can reserve any week of the year at the resort, and I know exactly what I'm getting.

By contrast, the (formerly Hilton, now Aqua) hotel right next door rents cramped, 300sf studios for more than $300 a night. Views are obstructed, there is no guarantee of which unit you'll get, there is no kitchen or laundry, and the units only sleep two. Even with Priceline's name-your price option, it's unlikely a comparable oceanview unit would rent for less than $150 a night.

So for my preferences, I like the convenience of not having to scratch and scheme to save a buck. I know I'll have a comfortable place to stay that's on familiar grounds, so it's less like visiting a strange place, and more like going back to my island vacation home. I like that level of comfort, and no-stress feeling.

I second Brian's idea - try renting a timeshare and see what you think. After the comfort of timesharing for awhile, you may find (as I do) that you feel cheated when forced to stay in an average motel room, no matter where it's located.

Dave

 

[shifty1981]

Holy cow! I go to the bathroom and come back and there's a ton of responses! Thanks everyone.

No offense to anyone, but for the people who replied about having more space, to me that's a luxury. If I just need a place to sleep/nap, shower, etc then a hotel does just fine. I'd love more space, but that's what I call a "luxury" thing - having more space. Not necessary. Now once we have kids who need their own bed then we'll now consider it a necessity (having 2+ beds). Does this make sense? We're not vacation-homers. So that comparison doesn't really apply to me (at least not yet).

 

[shifty1981]

Thanks. I'll take a look.

Here you go - How to confirm that a rental is legit (when you are the renter)

As Bill said, a timeshare is a full size condo, so you can't really compare a Priceline hotel room to a timeshare. Instead, compare the cost of renting a vacation home, to timesharing. We like Priceline too, but for stays of more than 2 or 3 nights, we vastly prefer a 1 bdm. timeshare.

Also, with Priceline, we often find that we are placed in the smallest size hotel room, with the least desirable view, in the hotel. Which is OK, because we are getting a huge discount. But when you own a timeshare, you are, in most cases, guaranteed to get the size unit and view that you own. For instance, we love the ocean, so we bought an ocean front TS on Kauai, and we know we will always get that view, as long as we reserve early enough.

 

[ace2000]

Holy cow! I go to the bathroom and come back and there's a ton of responses!

Ain't TUG great! Some of the most helpful people you'll ever find!

 

[DeniseM]

I think this is a case of not knowing what you are missing. Once you try timesharing, you find out how much you love all the extra space and amenities. Try a rental and you will find out what I mean. Also - when you own a cost effective timeshare, it costs you no more than Priceline, so why stay in a single small room, when for the same price, you can have a condo?

 

[shifty1981]

The use of free golf courses and tennis courts is definitely a money saver potentially. Though right now we go on vacation to see new things more than to just get away and do things we can at home (like golf and tennis). But I'll have to keep that one in mind. We don't fly our own planes, ride horses, etc though.

I happen to enjoy some of the "country club" perks offered by some resorts. One of our timeshares offers its owners free day use including access to: hot springs pool and cool pools, tennis courts, golf, airplane tie down, equestrian center, etc. Specifically, we bought in because our resort dues are far less than owning, boarding and maintaining two horses at nearby facilities.

 

[shifty1981]

Thanks for the tip about it being in my name. I'll watch for that.

First, if you pay via PayPal, you'll gain a certain amount of protection. Not saying that PayPal is the only way though... and some will require checks.

After the renter confirms the reservation is placed under your name, most of the time you can call the resort reservations department directly and confirm that your name has been placed on the reservation. If the renter states that they cannot place it under your name, then I'll advise for you to proceed cautiously.

Renting here on TUG would be a great idea... not fully protecting you from any issues, but it does help.

There are all kinds of variables in this equation, and it's hard to make absolute statements that always apply. Hopefully these few tips will help.

 

[shifty1981]

Can I come stay with you? That's a dream you're describing right?

Seriously though, wow. So here's what I took away as far as SAVINGS goes:

1. if you're going to stay somewhere expensive like Kauai then TSing can make sense when you factor in average cost per night.
2. you save $$ on laundry services (which I guess means you bring less clothes since you can wash them, thus saving on airline baggage fees? we rarely do laundry when travelling).
3. you buy fresh food which you can cook or buy in bulk instead of a-la-carte and bring home leftovers. no extra fee for use of fridge.
4. you pay for one unit for a family of four or if you're a couple, you split the cost with another couple and enjoy vacation with friends.

Paying for space and consistency is a luxury according to me (though very likely worth the cost, but still, not a necessity).

Thanks!

Here's an example of why I like timesharing:

I own an oceanfront timeshare on Kauai that I visit every two years. I bought it on eBay for less than three hundred dollars. The maintenance fees make my ongoing cost for seven nights less than $150 a night. For that money, I get a ~1000sf direct oceanfront condo that sleeps four, with a full kitchen, in-unit laundry, living room, dining room, two bathrooms, and a large master bedroom with a very comfortable king size bed. The view is unobstructable, and is arguably the best view on the Lihue side of the island. I can reserve any week of the year at the resort, and I know exactly what I'm getting.

By contrast, the (formerly Hilton, now Aqua) hotel right next door rents cramped, 300sf studios for more than $300 a night. Views are obstructed, there is no guarantee of which unit you'll get, there is no kitchen or laundry, and the units only sleep two. Even with Priceline's name-your price option, it's unlikely a comparable oceanview unit would rent for less than $150 a night.

So for my preferences, I like the convenience of not having to scratch and scheme to save a buck. I know I'll have a comfortable place to stay that's on familiar grounds, so it's less like visiting a strange place, and more like going back to my island vacation home. I like that level of comfort, and no-stress feeling.

I second Brian's idea - try renting a timeshare and see what you think. After the comfort of timesharing for awhile, you may find (as I do) that you feel cheated when forced to stay in an average motel room, no matter where it's located.

Dave

 

[rhonda]

We don't fly our own planes, ride horses, etc though.

Quoting from DeniseM above regarding space, "I think this is a case of not knowing what you are missing." (Sorry, couldn't help myself.)

 

[shifty1981]

I think this is a case of not knowing what you are missing. Once you try timesharing, you find out how much you love all the extra space and amenities. Try a rental and you will find out what I mean. Also - when you own a cost effective timeshare, it costs you no more than Priceline, so why stay in a single small room, when for the same price, you can have a condo?

I'm afraid to try it. It's the same reason I don't want to test drive a BMW. Then I'll want it!

Seriously though, can you tell me there are good timeshares for under $300 per year including MF, exchange fees, taxes, assessments? Trust me I want the luxuries too, but first I want to see if our budget can stay the same but get more out of it. If the answer is no, then my next question will be can I increase my budget and enjoy way more?

 

[geekette]

I happen to enjoy some of the "country club" perks offered by some resorts. One of our timeshares offers its owners free day use including access to: hot springs pool and cool pools, tennis courts, golf, airplane tie down, equestrian center, etc. Specifically, we bought in because our resort dues are far less than owning, boarding and maintaining two horses at nearby facilities.

I also think that onsite amenities are hugely different at hotel vs resort.

Another thing to consider is that with ts, your cost is your cost whether it is just two of you or whether you fill to max capacity of 6 or 8 people. On a per-person basis, no way a hotel deal can beat it.

Because I can plan 2 years in advance, I don't get caught in high-demand buying time (right after New Year, people start thinking about Spring Break, right after Spring Break, people start thinking of summer vaca, etc., while my plans are already set)

I would not count on hotel deals remaining as they have been the past few years. economy will pick up, travel will continue, hotels won't have as much vacancy to dump for cheap rates.

 

[geekette]

I'm afraid to try it. It's the same reason I don't want to test drive a BMW. Then I'll want it!

Seriously though, can you tell me there are good timeshares for under $300 per year including MF, exchange fees, taxes, assessments? Trust me I want the luxuries too, but first I want to see if our budget can stay the same but get more out of it. If the answer is no, then my next question will be can I increase my budget and enjoy way more?

$300 a year? no, not with the list of inclusives you list. prob'ly no mf alone under 300.

exchange fees, depending on exchange company, will be 1-200 and then membership fee.

best to not buy with plan of exchanging - really whacks the financials. own to use.

 

[DeniseM]

If $300 a year is your budget for vacations, then timesharing may not be right for you at this time in your life. But, there are lots of options around $500-$700 a year.

We own a 1 bdm. TS in Tahoe for example, that works out to $65 a night or $452 a year. We make 4 quarterly payments of $113, so paying the maintenance fee is relatively painless.

 

[shifty1981]

Great tips.

Hadn't thought about the multiple people one as it's just been the two of us so far. That will definitely change. And if we can stand any of our friends it could change now!

Don't quite understand the 2 year planning thing. How does that save $$? Also how do you book 2 years out when (A) are TS's available that far in advance? and (B) how can you know what life will bring (job change, health issue, major loss of disposable income). My boss can barely give me the OK for vacation 2 months out.

I also think that onsite amenities are hugely different at hotel vs resort.

Another thing to consider is that with ts, your cost is your cost whether it is just two of you or whether you fill to max capacity of 6 or 8 people. On a per-person basis, no way a hotel deal can beat it.

Because I can plan 2 years in advance, I don't get caught in high-demand buying time (right after New Year, people start thinking about Spring Break, right after Spring Break, people start thinking of summer vaca, etc., while my plans are already set)

I would not count on hotel deals remaining as they have been the past few years. economy will pick up, travel will continue, hotels won't have as much vacancy to dump for cheap rates.

 

[shifty1981]

$300 isn't a set budget for us, just closer to what we've been paying for hotels. We can afford more, but I'm trying to see how TSing can save $$. Trust me I'd probably convince my wife to pay $452 for a week at Tahoe.

As for exchanging, for now that is our strategy. There's too much of a beautiful world to see for us to consider the same place over and over. That's part of the reason we considered buying a TS in Vegas, because of it's buying power year after year. Maybe someday we'll want consistency. Right now we want new places.

If $300 a year is your budget for vacations, then timesharing may not be right for you at this time in your life. But, there are lots of options around $500-$700 a year.

We own a 1 bdm. TS in Tahoe for example, that works out to $65 a night or $452 a year. We make 4 quarterly payments of $113, so paying the maintenance fee is relatively painless.

 

[DeniseM]

Some timeshares can be reserved 2 years out (we have Kauai booked for 2011 already) and you can make exchanges 2 years out as well.

As you get older and get more established in a career, it gets easier to plan in advance. Part of it is just getting into the habit of advanced planning. I am a teacher so my time off is set in stone, and with DH's company, he can ask for his vacations on Jan. 1 of each year. So by Jan. 1 of every year, we have our plans in place, and my DH puts in the request the first day possible. That way he beats out all the less-well organized employees.

If you end up in a career where that doesn't happen, then the last minute Getaways on II would work well for you and they are very inexpensive.