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biennial odd week?

Discussion in 'Buying, Selling, Renting' started by Catira, Jan 23, 2010.

  1. Catira

    Catira TUG Member

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    Hi.. any disadvantages to purchasing a biennial week? I am looking at a week that we would be able to use in 2011.
     
  2. Stefa

    Stefa TUG Member

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    We own one biennial timeshare and this is the perfect situation for us.

    Just make sure there are no extra fees for a biennial ownership. For example, Starwood charges a $20/year fee for biennial contracts plus the $109 SVN fee (if applicable) is due every year.
     
  3. pkfox

    pkfox TUG Member

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    closing costs

    Most of the fixed costs such as closingcosts,deed prep,deed registration and resort fees will be the same where it is anual or every other year. If you can use the other years for trade or rent out you may want to look at an every year purchse. These days purchase price will not be much different.
     
  4. chriskre

    chriskre TUG Member

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    I own 4 annuals and 2 biennials and a triennial.

    If I had it to do over again, I would have only purchased 2 annuals, the ones that I always use and the rest would be biennials and triennials.

    I find that for me I want to own more than one TS system so since one size doesn't fit all to keep fees down I find the biennial and triennials a much better deal for me.

    What system are you thinking of purchasing?
     
  5. thinze3

    thinze3 TUG Member

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    For resorts in locations with high maintenence fees, like Hawaii, the biennial is a great option. We own a biennial Hawaii resort for odd years only and do not plan on going more than once every two years. It has worked out well thus far. :)
     
  6. falmouth3

    falmouth3 TUG Review Crew: Veteran TUG Member

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    The only negative that I see is that you will still have the full load fees for closing. So if you were to buy 2 biennials, you'd have 2 closing costs. That said, I do own a biennial.


    Sue
     
  7. erm

    erm TUG Member

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    If you buy a lockoff you could get a vacation every year for half the maintenance fee ( plus any fees).
     
  8. Patri

    Patri Tug Review Crew: Rookie TUG Member

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    Biennial is also good if you don't have as much time to travel as you dream of. I own one biennial and one annual, and can't handle more trips than that. I would even be happy with two biennials. The closing cost is minimal, especially if you use some companies recommended on TUG
     
  9. Catira

    Catira TUG Member

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    Great advice

    I was hoping for an annual timeshare, but thus far the RCI resort I am looking at is biennial. It is a lockoff unit so that may be an advantage to be had. Thus far I own a small 44100 RCI points acct. $740 MF, which I now realize is a bit more than I want to pay for the amount of points. This is probably one that I will once again try to sell. The other timeshare is wyndham, which I like the fact that we have been lucky to book within 30 days..just got to be patient and persistent.

    It's hard to buy another timeshare ... hoping to get a great bargain on Ebay to trade into the great resorts. Its a russian roulette when you make a purchase sometimes not knowing how well it will trade.

    But thanks to TUG everyday I learn something new and hope to get as much value from my timeshares.:)
     
  10. falmouth3

    falmouth3 TUG Review Crew: Veteran TUG Member

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    It's hard to believe that the only weeks at that resort are biennial. Just keep waiting and I'm sure what you want will show up.
     
  11. Catira

    Catira TUG Member

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    No, I need to clarify. The resort I am seraching for on EBAY, thus far has only shown up with biennial weeks. There have been a few annual weeks, but they are not during red season.
     
  12. falmouth3

    falmouth3 TUG Review Crew: Veteran TUG Member

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    Same advice. If you really want an annual, one will show up eventually, I'm sure. Just be patient. ;)
     
  13. TooManyIDs

    TooManyIDs TUG Member

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    Even though you would pay the same closing costs on an annual unit, they are one time charges. Ongoing maintenance fees are reduced for a biennial.

    If you only want to use the timeshare every other year, why bother with the headache of trying to rent it or get an equivalent trade (looking at my first timeshare, so interested in answers to that question) ?

    I'm also assuming that special assessments are reduced for biennial owners?

    Based on posts here, current market doesn't assign any "equity" to ownership and the value of a timeshare is defined as the savings between renting an equivalent unit and the maintenance fees you have to pay.

    Again, new here, so very interested in posts from the experienced owners.
     
  14. yumdrey

    yumdrey TUG Review Crew: Veteran TUG Member

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    If you want an "annual" ownership, be patient and wait. I would not buy two biennial weeks to make it annual, because you will pay two closing costs, and total MF of two biennial can be more expensive than one annual ownership. Also, when you decide to sell them later in any case, selling one contract is easier than selling two contracts.
    I do own 3 biennial weeks, because I prefer biennial ownership for them. I use 2 of them myself and it's far from my home, so I cannot visit there every year. By owning biennial week, I don't have to worry about rent every other year and I pay MF only when I use them. My Marriott week is biennial and it is lock-off room which means I can have two weeks of exchange through II, and it fits my need. I already have other annual II exchangers, so I wanted biennial Marriott exchanger for Marriott priority.
    For some owners, biennial weeks make sense, but if you want annual, try to buy annual.
     
  15. DaveNW

    DaveNW TUG Review Crew: Veteran TUG Member

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    Catira, biennial ownership works great for me. I own a biennial even year in Hawaii, and a biennial odd year on the Oregon Coast. My third timeshare is an annual mini-system that has resorts in Hawaii, Oregon, and elsewhere.

    I can alternate vacations, and spend two weeks every two years in Hawaii, or two opposite weeks on the Oregon Coast. And anytime I don't want to do that, they all exchange well for other areas. It's pretty cool.

    As others have said, wait for what you want. There is no reason to rush. Check the TUG marketplace, too. There are frequently killer deals there.

    Good luck!

    Dave
     
  16. theduffster

    theduffster TUG Member

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    Same for us! This means we'll have one week to travel one year, and the next year 2 weeks. That's plenty for us for now.
     

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