Where do I begin?

[mumom95]

Hi everyone. I was asking about timeshares on another site, and people directed me here.

My husband and I are starting to think about purchasing a timeshare. But I'll be the first to admit I really don't know much about them. And I don't want to go to any of those timeshare presentations until I do know a lot about them, because I know if there is a good salesperson I can get suckered into things

This site seems like a great place to start, but it also seems a bit overwhelming. So I'm asking, where should I begin? What should I start reading to figure out if timeshares would be right for my family. I know I'm not ready to start looking at specific ones, I first need to figure out if they are right for us in general.

A little info: we are a family of 4 (kids are 7 and 8). I love to travel and want to do at least one to two week long vacations a year with a few smaller weekend aways here and there. But I don't want to go to the same place every year, I want to go to places all over the world. And it isn't just tropical places either. When we do go on vacation I prefer to stay in a nicer type resort. We aren't rich, but vacations are the one place I'll splurge and like to "live like the other half" so to speak :rofl: . I love to spend lots of times planning vacations, and tend to plan WAY in advance (I'm already starting to plan our Hawaii vacation that we want to take in 2011). I'm not looking at this as an investment that I'll make money off of when I sell it (I've read enough to know that is not a wise thing to do) but I do want to see if this would be a wise vacation investment (meaning, over time it would save us money on our yearly vacations).

So, where should I begin looking to see if timeshares are for me. Any and all advice would be greatly appreciated.

Thanks

 

[Conan]

Where do you live, and are you often going to buy airplane tickets for the family or do you want to vacation within driving distance?

 

[AwayWeGo]

Buy Resale. Save Thousands.

I do want to see if this would be a wise vacation investment (meaning, over time it would save us money on our yearly vacations).

Might not save you any money, but if you go about it in a practical way you can get lots nicer vacation accommodations for about what you'd be paying anyway for plain vanilla motel rooms. For example, via timesharing we get spacious luxury accommodations for approximately Motel 6 & Super 8 rates.

Keep in mind that buying a timeshare is not -- as in no way -- is not a way of locking in prepaid vacation accommodations, even though the full-freight timeshare sellers frequently say it is.

Even if you get your timeshare free -- as in Zero Dollars & Zero Cents -- you still owe those ongoing & never-ending annual timeshare resort maintenance fees & reserve fund payments & real estate taxes. Any way you shake it, those ongoing payment obligations are the real cost of timeshare ownership.

Click here for our personal timeshare story -- how we got into it, what we did, what happened, & all that (more than most folks will care to know). Our story is not necessarily a blueprint for others to follow; what worked for us & what we like may or may not be everybody else's cup of tea. But for better or for worse, there it is.

Good luck, & remember . . .

Buy Timeshares Resale. Save $10,000

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[beanb41]

The first thing is not to buy from a developer but buy resales, you will save hundreds to thousands of dollars.
Rule 2: If you go to a presentation do not take your credit card. - You cant buy if you have no money.
Rule 3: Be prepared to spend $500 - $1000 for each week of timeshare in maintence fees each year and these fees will rise over time.
Rule4: Buy a timeshare that meets your needs. If you only want a 1 bedroom dont buy a two bedroom - two bedroom fees are higher than 1 bedroom
Rule5: Buy your first timeshare as close to your home as praciticable at a resort where you enjoy staying - Increasing travel costs are causing more expensive holidays
Rule 6: If Rules 4 and 5 are not a major factor buy a resort that is top of the line at a high demand area. do some research in the reviews section
Rule 7: Timeshare is not an investment in Real Estate but an investment in holidays
Rule 8: Timeshare is use it or lose it
Rule 9: Look into your crystal ball and try and determine your needs 5,10, 20 years out. If timeshare doesnt look attractive that far out you maybe making a mistake in purchasing today.
Rule 10: Check out the different exchange options you have. Is your new timeshare easily tradeable for where you want to go.
Rule 11; Factor in the cost of exchange fees in your holiday
Rule 12: IF you have any questions ask? There are no stupid questions

Hope hese are of some help

 

[AwayWeGo]

Good Advice That Might Not Work.

If you go to a presentation do not take your credit card. - You cant buy if you have no money.

Any time we've gone on a timeshare sales presentation -- except so-called "owner updates" that are nothing more than stealth timeshare sales pitches -- we've been required to show MasterCard or Visa or American Express or Discover Card. I don't think they would have let us in without a credit card. It's no big deal to miss out on a high-pressure, arm-twisting, guilt-tripping timeshare sales pitch. But if we're going just for the freebies -- as we've done a few times now -- we pretty much can count on having to whip out the plastic.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Passepartout]

Mumom95, Congrats for finding TUG before you spent a pile with a developer. Welcome!

It looks like timesharing would fit your vacation style wonderfully. If I were starting out like you are, and not knowing where you are located, I would look into Wyndham (Fairfield) points. They are available now at reasonable prices. (ebay, here in TUG marketplace). You have the flexibility of using a few days here, a few days there. The MF (maintenance fees) are understandable- set amount per-point, and I understand they have a good selection of better-than-average resorts in many locations.

Another (IMO) choice might be picking up a resort within driving distance that has already been converted to RCI Points. Again for flexibility- They have 'last minute' offerings- 45-60 days before move-in for $220-250 per week (yup, 7-nights) that don't eat into your point account.

I know that at this stage, you have a ton of questions, and you have found a place with a lot of answers. Not all will be applicable, but will be presented sincerely. Read the stickies in the Newbies section. Become familiar with the glossary of TS terms. Maybe rent a TS and try it without a commitment.

Again, Welcome to TUG. Join. It will be the best $15 you ever spent on vacation. This will give you access to the reviews which can help you nail down where you want to go, buy, avoid.

Jim Ricks

 

[JudyS]

...
A little info: we are a family of 4 (kids are 7 and 8). I love to travel and want to do at least one to two week long vacations a year with a few smaller weekend aways here and there. But I don't want to go to the same place every year, I want to go to places all over the world. And it isn't just tropical places either. When we do go on vacation I prefer to stay in a nicer type resort. We aren't rich, but vacations are the one place I'll splurge and like to "live like the other half" so to speak :rofl: . I love to spend lots of times planning vacations, and tend to plan WAY in advance ...

I agree with Jim (Passepartout) that timesharing sounds like a great fit for you. If you like spending time planning trips and can plan in advance, you can get fabulous deals.

The very best deals in timesharing come from exchanging -- buying a week and trading it for a week somewhere else. So, buying a reasonably priced resale week for trading is one thing I would suggest for you.

As for the weekend trips, you can either buy a points-based timeshare for that, or, depending on where and when you want to travel, it may work to just pick up inexpensive weekly trades and not use the whole week. You can sometimes get weeks in very nice resorts (say, a Sheraton) for about $300, so even if you just stay a few nights, it can be cheaper than a hotel rental.

I'm starting a website with information on timesharing, geared towards beginners. Not all of the website is up yet, but the basic information section is. I can send you the URL, if you like.

 

[AwayWeGo]

U. R. L.

I can send you the URL, if you like.

Why not let all of us in on it?

I've sure got lots more to learn -- & I'm guessing I'm not the only 1.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[mumom95]

Thanks for all the advice so far!! I live in Cincinnati, Ohio. Since there are places all over the country and world I want to go to, some will be driving, some will be flying. I don't mind spending a day driving to a destination, if it will save us a bunch on airfare. But I also realize there are many places I want to go to that I will have to fly.

And JudyS, I'd love the URL to your new site.

 

[applegirl]

Welcome to TUG!

Read the stickies in the Newbies section. Become familiar with the glossary of TS terms. Maybe rent a TS and try it without a commitment.

Again, Welcome to TUG. Join. It will be the best $15 you ever spent on vacation. This will give you access to the reviews which can help you nail down where you want to go, buy, avoid.

Jim Ricks

I think Rick's advice above is very good. The Newbies stickies will give you lots of info and help direct further questions you will have. The best thing you can do is take your time and read MANY threads here on TUG to help you really understand what will work best for your family.

Timesharing is soooooo great for families. We have two young children and bought our first t/s before our first child was born, so they have been spoiled from the get go! Actually, it spoils us too. We always have a double master suite when we use our timeshare and it is awesome! Having young children it is so much easier for us just to cook our dinners and eat at "home". We have saved a ton of money that way. We also save money because we buy the extra vacations you can purchase through II at least once a year. I say save because even though we are paying almost $500 for an extra week, it's $500 in a double master suite 1450 sqaure foot villa at a beautiful resort! So that's a pretty cheap week vacation in total comfort.

Even though I understand you want to trade most years, you should still buy a location you wouldn't mind going to at least some of the time. But the best week you can afford. If you buy a lock-off type unit, it will give you lots of flexibility when the children are grown and out of the house. You will be able to get 2 weeks for your 1 week. For now, you will want the two bedroom.

Have fun learning!

Janna

 

[Conan]

I live in Cincinnati, Ohio. Since there are places all over the country and world I want to go to, some will be driving, some will be flying.

Since you're mostly looking for variety, I second Passepartout's suggestion that you look at Wyndham and/or RCI Points. You should be able to buy into these systems for around $2,000 to $3,000 [say 189,000 Wyndham points or 75,000 RCI points, including closing costs] plus $600 to $1,000 a year for maintenance.

So spreading the purchase price over 10 years ($2,500/10 = $250) plus say $800 for maintenance and $200 for fees, your annual cost will be about $1,250 per year or $175 per night.

The same number of points could get you two weeks of vacation per year, off-season or in a smaller unit, at a cost of about $250 + $800 + 2*200 = $1,450 per year or $100 per night. [Trading Wyndham points into RCI weeks, 189,000 points could get you three weeks of vacation for $250 + $1000 + 3*$200 = $90 per night]

So you need to start studying the Wyndham and RCI Points directories, TUG and Ebay to find what home resort to shop for. Don't forget in RCI Points to keep an eye on maintenance fees, which vary widely.

(Wyndham maintenance varies from one home resort to the next, but not by much. The only difference in which Wyndham FSP points property you buy and hence what maintenance you pay is to gain the "advance reservation priority" in that home resort and book a high-demand week that you could also rent out in a year you didn't want to trade it.)

 

[DeniseM]

Here is a very simple list of buying tips to get you started: Buying your first Timeshare

 

[pjrose]

Great advice so far. I like Beanb's list of rules.

Our first two TS weeks were bought from the developer, 2 bedroom lockoff, high demand holiday weeks, and expensive at the time. We have never regretted it, even the expense. 19 years ago we didn't have the option of buying resale on the internet. We rent one week for 3x the MF, and sold the other; in both cases to our advantage financially. We used to exchange them, but realized we would do better renting them. We bought two inexpensive weeks for trading purposes and have always gotten good trades. We now have one of the original high dollar high demand weeks and five resale weeks - three of which were quite inexpensive. We rent two for 2-3x the MF, use two at the same place every year, and trade two to go elsewhere.

Without the TS weeks we would probably not go on regular vacations, we and our kids would not have met lifelong friends who regularly go to the same place we do, and, if we did go on vacation, the four of us would be stuck in a hotel room, probably for well over the cost of our MF.

Advice:

Buy quality. You'll have more success exchanging and, if you don't use it, renting. Read the TUG rankings and reviews to determine quality. Look at the TUG rentals and rentals wanted to get an idea of prices and supply/demand.

Join TUG! It's less expensive than McDonald's for four, and will pay for itself many times over, even if you never buy a TS and just read reviews and ratings.

Rent your first few times (from TUGgers of course) - that'll really give you a feel for timeshare vacations, without the commitment.

For trading purposes, do not buy something expensive and just trade it away. Junk won't trade well, but there are inexpensive TSs that will.

If you go to a presentation, just say no. Do not be suckered by gifts, promotions, and promises. The deal WILL still be there tomorrow - though you won't want it tomorrow because by then you'll know you can get the same deal resale for less.

If you see something resale you're interested in, go to the corresponding section of TUG (area of country or TS system) and see what the regulars think about it.

If you buy a TS, you'll probably want to join an exchange company such as Interval International. Even though you could just use points or trade internally to travel within your own TS system, the membership will allow you to rent additional "Getaway" (on II) weeks without giving up your TS week. These will often cost you less than a MF would, and you have no long-term investment.

Re-read Beanb's rules.

And did I mention Join Tug?

 

[Talent312]

Thanks for all the advice so far!! I live in Cincinnati, Ohio. Since there are places all over the country and world I want to go to, some will be driving, some will be flying. I don't mind spending a day driving to a destination, if it will save us a bunch on airfare. But I also realize there are many places I want to go to that I will have to fly.

My POV -- Points (or Floating Weeks) vs. Fixed-Weeks.
The trend is toward point-based systems becuz they give the vacationer great flexibility in when+where to go. Its not as clunky as depositing/exchanging weeks to get vacation time elsewhere. The downside is that you have to be more flexible, 'ciz there's less assurance that you can book the exact-dates or places that you want. I'm in a points-based system and like the flexibility, but its not for everyone.

DO NOT buy from the TS Developer.
If you go to a TS-sales presentation, first do some homework to see what their units are selling for on eBay. Next, accept that you will sit thru ~3 hours of sheer hell. Add another hour at a nearby pub to decompress. Understand that they are going to toss out a bunch of numbers that make it look like you'd save a ton of money and be foolish to walk away from a deal that's "good for today only." Don't believe a word of it. For the annual MF's alone, you could prob'ly rent a week. There are reasons to own (there are some perks), but not to pay their freight (doante to their capital funds), so if you buy, buy resale.

 

[caribbean]

Another key question: How far in advance do you usually plan your vacations?

Trading timeshares works best for those that are able to make plans well in advance, say 12-18 months in advance. If your expectations are to call about 1-3 months in advance to make a reservation or trade, you will probably be very disappointed in the inventory that is available. Most of the best units are taken way in advance and within hours or days of being deposited.

 

[AwayWeGo]

Flip Side Of Advance Planning Is Snagging Last-Minute Deals.

Another key question: How far in advance do you usually plan your vacations?

Trading timeshares works best for those that are able to make plans well in advance, say 12-18 months in advance. If your expectations are to call about 1-3 months in advance to make a reservation or trade, you will probably be very disappointed in the inventory that is available. Most of the best units are taken way in advance and within hours or days of being deposited.

I am sure that's 100% correct. We have found, however, that if we wait till virtually the last minute -- i.e., 5 or 6 weeks before check-in -- we can snag some nice bargain-basement reservations at other people's timeshares via Last Call & Instant Exchange. That has worked for us (so far) because we usually take off-season timeshare vacations when there's a reasonable selection of Last Calls & Instant Exchange offerings. During prime vacation time, Last Call & Instant Exchange reservations are apt to be mainly the dogs & cats of the timeshare world.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[pwrshift]

From Ohio I would think owning Marriott Manor Club in Williamsburg, VA or perhaps Marriott Grand Ocean in Hilton Head as they would be a 1 day drive for you, and excellent resorts. Resale Manor Club (platinum only) can be found on Ebay for about $8000. There is a lot to do in Williamsburg for the kids and for adults and if you golf, a Manor Club week comes with 6 green fees in the annual Maintenance ($850).

Brian

 

[lprstn]

Thanks for all the advice so far!! I live in Cincinnati, Ohio. Since there are places all over the country and world I want to go to, some will be driving, some will be flying. I don't mind spending a day driving to a destination, if it will save us a bunch on airfare. But I also realize there are many places I want to go to that I will have to fly.

And JudyS, I'd love the URL to your new site.

There is a nice resort driving distance called Apple Valley? http://www.applevalleyresort.com/

it trades really well with RCI.

selling on www.holidaygroup.com

http://www.holidaygroup.com/browse/resortdetail.php?ResortID=100352&ResortName=APPLE+VALLEY+RESORT

for only $1300 and you can talk them down in price.

 

[manutamy]

Travelling In Timeshare Resorts

There are other possibilities to travel in timeshare resorts and others without having the maintenance fees.

 

[Lisa P]

Since you're an early planner and you've got school-age kids, I think timesharing would work very well for you. You may want to consider getting a good II trader for access to the II resorts. Then perhaps week's worth of points in a points system that trades through RCI and would provide access to short stays within driving distance of home and/or RCI exchanges, such as Wyndham or Bluegreen. You may want to concentrate your reading on the forums dedicated to Buying, Exchanging, Points and the Advice articles (links on front page of TUG).

As others have said, go with resale. You ought to be able to get set up for under $5,000, maybe less. Keep reading and ask specific questions around here. Glad to see your post - welcome!

 

[UWSurfer]

I think as you are seeing there are lots of options out there, and this thread may not have made it any easier for you.

The basics of the timeshare 101 still apply. Buy where you want to go. My personal rule is to buy someplace you can drive to. Renting a location is excellent advice...sort of try before you buy.

Taking this all into an example, here in LA, Las Vegas is a 6 hour drive. I discovered Hilton Grand Vacations Club (HGVC) when I was booknig a stay for a convention I was attending. Later we came back and took advantage of a three night stay which included a presentation. The prices the developer pitched were very high and we didn't bite. However later we discoverd the resale market and bought for nearly 1/5th what we were quoted by the developer. HGVC is a mini-system which lets us go to our home resort or any of the 36 resorts in the system using it's internal trading program. It's very flexible and most have positive things to say about the system and the resorts they have.

Thus we have the ability to stay within a day's drive from home or go off and travel to other places. Later we bought a few independent resorts and each trades with either RCI or Interval International...one having a common management company which formed it's own mini-system. We've not traded these as we bought them (for a song on Ebay) at places we actually like to stay.

Take your time, rent some places...get a feel for what works for you and what you are interested in. Ask lots of questions of folks here about the places or systems you are interested in. This place is a treasure trove of experience.

Read a lot and sit on your hands for awhile before making a bid on e-bay until you feel like you know what you are getting into. Even then, think about it some more before committing.

 

[JudyS]

Why not let all of us in on it? ...

Well, I'm planning that my website will also have things like a list of my timeshares for rent (although I don't have those on the website yet). I'm not sure what TUG's policy is on posting links to websites that contain ads, so I wasn't sure if I should put the the URL in a post here. I'd be very happy to send it to anyone who PMs or emails me.

 

[intheblue]

deleted--duplicate posts not permitted