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My Survey

Discussion in 'New to Timesharing? Look Here!' started by BarryS, Jan 1, 2018.

  1. BarryS

    BarryS TUG Member

    Joined:
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    Location:
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    1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
    We try to go to Orlando for Disney World about once a year.

    2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
    That depends on whether my home resort is in Orlando. I don't mind trading into Orlando since I've read that seems fairly easy to do.

    3) What are your 5 top trade destinations?
    1. Orlando
    2. Gulf Coast or Atlantic Coast beaches
    3. Colorado/Utah for skiing
    4. Hawaii
    5. Europe


    4) How many people do you usually travel with?
    I have a family of 6 with 2 adults and 4 kids. I would like to be able to bring grandparents/friends on occasion.

    5) Can you travel any time, or are you locked into the school schedule?
    We're locked into school schedule.

    6) Can you make firm plans 12 or more mos. in advance?
    We typically have been planning 3-6 months in advance, but should be able to handle planning at 12 months.

    7) Can you vacation for a full week at a time?
    Yes. We typically take at least one full week a year, plus one or two shorter trips (long weekends).

    8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
    We prefer 4-5 stars, but we are ok with a really good 3 if it's in a desirable location.

    9) How much can you afford to spend upfront, without financing?
    Not much, unfortunately. I'm expecting to get a decent size tax return this year (2-3k) as a downpayment and then will have to finance the rest.

    10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
    I'd like to start out with no more than $1200/year since it will increase every year.

    11) Are you a detail oriented planner?
    Yes! I like to have the hotel and transportation arrangements made well in advance, and I enjoy making those plans myself. Once we're on vacation though, I prefer to "go with the flow" and not have every hour of my day planned out.

    12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
    Yes.
     
  2. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

    Joined:
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    Location:
    Northern California
    Resorts Owned:
    Hyatt Highlands Inn, Hyatt Pinon Pointe, Welk
    Hi Barry, and welcome to TUG! You've come to the right place looking for advice, and I commend you for doing something that many of us--present company included--did not do: we didn't find TUG before we made our first timeshare purchase, and usually overpaid by a wide margin.

    I have good news and bad news for you: the good news is that there are so many very nice Orlando-based timeshares, you should have no problem finding one that works for you and your family. The bad news is that you don't have the budget right now to support taking on the financial burden of ownership. To get a 4-star unit for your large family and to stay during the school vacation schedule, you're going to need to be able to pay a high four-figure or low five-figure purchase price with annual maintenance fees of $1200-1500 for the Florida locations (because Florida is a low-tax state, maintenance fees there are quite reasonable compared to many other places, including California and Hawaii).

    My advice to you is that you consider renting for now. You will not have to be obligated to the annual maintenance fee bills, which can be a burden.

    You will also see countless posts here on TUG urging people NOT to finance a timeshare purchase. If you can't afford the upfront cost, you should not consider buying a timeshare--and with a young family, you're at a stage in life when you have many other demands on your cash to take care of your family. A timeshare purchase is a luxury, not a necessity.
     
    Karen G, BarryS, theo and 1 other person like this.
  3. vacationtime1

    vacationtime1 TUG Member

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    Location:
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    Resorts Owned:
    MAW & MKW (Kauai)
    WKORV-OF (Maui)
    WKV x3 (Scottsdale)
    I agree with WalnutBaron -- renting is the right strategy for the moment.

    Although I think you could probably buy a two bedroom unit in Orlando on your budget, why bother? With rentals so abundant at prices about the same as your projected maintenance fee, there is no benefit to owning as long as your intended use is an annual visit to Orlando as you describe.
     
    BarryS and mpumilia like this.
  4. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    Location:
    Pine Bush, New York
    Resorts Owned:
    Smugglers Notch Resort
    Innseason Pollard Brook
    Never finance a timeshare purchase. End of advice.
     
    Karen G and BarryS like this.
  5. Panina

    Panina TUG Review Crew: Expert TUG Member

    Joined:
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    Location:
    USA
    Resorts Owned:
    Hgvc Mcalpin, Hgvc Eagles Nest, Hgvc Surf Club at Marco Island, Hgvc Plantation Beach Club at Indian River, Sunrise Bay & Club, Hideaway Sands, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    If you were planning to travel during the summer you could find a west coast Florida 2 br in the $3000 range with its unit 3-4 star, pool, tennis, beach across the street, trades well and has a maintenance in the $800 range. The problem you have it sleeps 6.

    Being you want others to travel with you, you need a 3 bedroom, that limits the options you have, putting it out of your price range.

    I also agree with everyone else, pay cash, do not finance. If you have to finance you cannot afford a timeshare.
     
    BarryS, mpumilia and theo like this.
  6. BarryS

    BarryS TUG Member

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    Thank you all for taking the time to respond with you advice! I really appreciate it!

    We have been renting and staying at Wyndham Bonnet Creek for the past 5 years, but recent policy changes have made that slightly more expensive. So, I was looking into whether it would be more beneficial to own something like HGVC that would give us several options in Orlando, plus other interesting locations we could try out. It sounds like renting is still our best option, at least until we can save up to pay cash for the purchase.
     
    mpumilia and theo like this.
  7. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

    Joined:
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    Location:
    Northern California
    Resorts Owned:
    Hyatt Highlands Inn, Hyatt Pinon Pointe, Welk
    You're most welcome! There is one other thing you can do if you're willing to lower your sights a little with regard to the quality of the timeshare. Since you're a member, be sure to check in from time to time on the Bargain Basement section of the TUG Marketplace. A lot of owners who are just looking to get out from under their maintenance fee obligation will list their timeshares there for $500 or less--and often for free.
     
    VegasBella, mpumilia and BarryS like this.
  8. Panina

    Panina TUG Review Crew: Expert TUG Member

    Joined:
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    Messages:
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    Trophy Points:
    198
    Location:
    USA
    Resorts Owned:
    Hgvc Mcalpin, Hgvc Eagles Nest, Hgvc Surf Club at Marco Island, Hgvc Plantation Beach Club at Indian River, Sunrise Bay & Club, Hideaway Sands, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    Stick around tug, keep reading and learning and watch for that bargain a tugger might gift to you. Ultimately when you find the right timeshare that works for you, you will save on your vacations and enjoy it for years.
     
    BarryS likes this.
  9. taterhed

    taterhed TUG Member

    Joined:
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    Location:
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    Resorts Owned:
    pending Westin WKORV OFD
    Marriott's Grande Vista
    Worldmark x2
    I'm going to offer some 'tentative' advice. Please don't run with it.....walk and read and learn.

    Worldmark is not a great system for the east coast. But.
    You can easily trade for great Marriott's using Worldmark and Interval.
    I just checked, there are 5 pages of Jun-September 2br units in Orlando available for instant exchange right now. Long term reservations (>60 days out) would run 10K points (10,000x.08 cents a credit) or 12k for 3br. If you could wait till 60 days (or use some other creative tricks) you can book that same unit for 4k credits--regardless of size--if available (big if). Or, book one and pick another up for just 4k so the whole fam-damily can come along. Easy to trade, trades well (in interval) and while 4-5* resorts don't grow on trees (and Marriott Preference is a real problem during super peak times) you can still make some great short-notice bookings if you can drive or use SWA airfares or trains etc....

    Anyway, just a thought. Easy to buy, easy to use, rent more credits, book without credits (Fax, Bonus time, specials) sell it easy when you're done. Also, MF's are pretty stable and affordable.

    You'd need a 12k account (or 10k minimum for 2br) and the MF's are under $1000 for that. The purchase price would normally be around $4k-$4800 for 10-12K credits (fully loaded), but you could buy an account with less than 'fully loaded' credits for less money and earn or rent credits to restock the account. Many folks buy accounts, strip them and sell them. There are many options/strategies.

    Again, just some thing to think about--as a dedicated trader with options--but I would research before committing.
    I'm pretty sure of this: you can't rent a Marriott 2br in summer (Jun-Sept) for $1200 can you? How about 2 units for under $1500? probably not.

    Good luck!
     
    hudshut, BarryS and WalnutBaron like this.
  10. BarryS

    BarryS TUG Member

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    Thank you! I've never looked into Worldmark before, but that sounds like an interesting option. I will do some research and learn more about it!
     
    taterhed likes this.
  11. VegasBella

    VegasBella TUG Member

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    Resorts Owned:
    Carlsbad Inn
    Avenue Plaza
    Riviera Beach & Spa
    I agree it’s better to rent until you get s better idea of what you want.

    I also want to throw this out there since it rarely gets mentioned - it can’t hurt to make lowball offers. You don’t have to buy at market rate. If you put the time into it and have patience you can probably get whatever you want for less than average market price.


    Sent from my iPhone using Tapatalk
     
    BarryS likes this.
  12. jwalk03

    jwalk03 TUG Member

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    Do all Worldmarks trade through II & RCI?
     
  13. taterhed

    taterhed TUG Member

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    pending Westin WKORV OFD
    Marriott's Grande Vista
    Worldmark x2
    Yes. Worldmark is points. There is no actual location. RCI and II are both options.
     
  14. jwalk03

    jwalk03 TUG Member

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    Hmm, I never knew that. I assumed WorldMark only traded in RCI due to Wyndham owning each.
     
  15. taterhed

    taterhed TUG Member

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    Marriott's Grande Vista
    Worldmark x2

    Trades quite nicely in II.
     
  16. GT75

    GT75 Moderator

    Joined:
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    Location:
    Gig City in Tennessee
    Resorts Owned:
    HGVC-x6
    HGVC is a great system and very nice to it resales owners. The resales owners get ALL of the same benefits of developer purchased owners except their don't count toward "elite level". (which isn't really worth all that much). That is the good news. Now for the bad news is that you would need about $7-8K to buy into HGVC and MFs plus club dues would run about $1200/year (of course this all depends on where you buy), But those are just "rule of thumb" prices. You could always follow the advice that some of the previous posters have given because their are always exceptions.
     

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