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NEWBEE -needs info to make a decision in Fl. Keys

Esteban

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I am absolutely new to timeshares, & might be interested in purchasing one in the mid -upper Fl. Keys. No Key West places. I don't party .

Here is my situation.

I am 61 & retired .
I live in North Central Fl. & enjoy spending time in the Keys. I could use a week in the same place at the same time every year. It doesn't have to be a mansion, but I would want the nicest place for my money. I am not wealthy by any means, but I can afford to take 1-3 week-long vacations a year at modestly priced areas. Definetly would not want extreme maintenance fees & other costs. I enjoy the beaches, sun, sightseeing, etc. Sometimes, I will take a ladyfriend along.
I may visit a couple of places soon. I have stayed in Hawk's Nest, Marathon a couple of times, & it is good enough for me. I intend to look at " Reefs at Marathon Resort , & Key Colony. I am open to others if suggested.

Do you think I would be satisfied owning a week timeshare in the area ? Other than the selling price, what would probably be the total costs to buy? What are typical maintenance fees, taxes, etc., etc., per year, in that area ?
Any other members own a timeshare in that area & have comments & recommendations ?
Thanks in advance for all responses !!
 

theo

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My $0.02 worth...

...might be interested in purchasing one in the mid -upper Fl. Keys.

Maintenance fees at most Monroe County (which includes the entire Keys) timeshares tend to be pretty hefty --- figure on $800 and up, in general, and closer to $1k (and higher) in Key West itsef. I used to own a fixed "Snowbird" week in Key Largo, but sold it off several years ago (the Upper Keys is a bit of a snooze, in my personal opinion --- except for the noteworthy fact that there are a number of great restaurants there, as well as John Pennekamp Coral Reef State Park).

My advice would be to save your money and rent, don't buy in the Keys. I still go to the Keys for a week most years, and I rarely have to pay much more to rent a week than my annual maintenance fees used to be (...at a decidedly mediocre facility, I must add). In addition, I can (and I do) now go to different places each year, without being locked into the one somewhat dumpy Keys timeshare facility where I used to own --- and without being locked into a specific week each year.

Just my own (alleged) thoughts and input on the matter... :shrug:

P.S. Your inquiry might well get more exposure and more replies on the Florida forum, so don't be surprised if the site moderators move this thread to that forum...
 
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LannyPC

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I am absolutely new to timeshares, & might be interested in purchasing one in the mid -upper Fl. Keys. No Key West places. I don't party .

Here is my situation.

I am 61 & retired .
I live in North Central Fl. & enjoy spending time in the Keys. I could use a week in the same place at the same time every year. It doesn't have to be a mansion, but I would want the nicest place for my money. I am not wealthy by any means, but I can afford to take 1-3 week-long vacations a year at modestly priced areas. Definetly would not want extreme maintenance fees & other costs. I enjoy the beaches, sun, sightseeing, etc. Sometimes, I will take a ladyfriend along.
I may visit a couple of places soon. I have stayed in Hawk's Nest, Marathon a couple of times, & it is good enough for me. I intend to look at " Reefs at Marathon Resort , & Key Colony. I am open to others if suggested.

Do you think I would be satisfied owning a week timeshare in the area ? Other than the selling price, what would probably be the total costs to buy? What are typical maintenance fees, taxes, etc., etc., per year, in that area ?
Any other members own a timeshare in that area & have comments & recommendations ?
Thanks in advance for all responses !!

If you're looking for what typical maintenance fees are in that area, go to TUG's Timeshare Marketplace and check out the units that are for sale in the Florida Keys. Each unit for sale will always tell you what the maintenance fees are.

Listings for sale on Redweek.com will also list each unit's annual fees.
 

silverfox82

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I own 2 weeks at the topsider resort in islamorada and am totaly happy with my resale purchases. The MF's are around $600 per week for a 2 bed, 2 bath freestanding unit of which there are a total of 20. Weeks sell for $2000-$3000, sales are handled in house so closing costs are minimal. The resort is in good financial shape and has only had 1 special assessment in the 10 years I have been an owner and it was for less than $100 per week to replace the dock after the hurricane a few years ago. Since then the reserve fund has been built up and should cover all uninsured damage in the future. The units are old but an ongoing maintenence program keeps them in fairly good shape. Check it out, it might be what you are looking for.
 

theo

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Yup...

I own 2 weeks at the topsider resort in islamorada and am totaly happy with my resale purchases. The MF's are around $600 per week for a 2 bed, 2 bath freestanding unit of which there are a total of 20. Weeks sell for $2000-$3000, sales are handled in house so closing costs are minimal. The resort is in good financial shape and has only had 1 special assessment in the 10 years I have been an owner and it was for less than $100 per week to replace the dock after the hurricane a few years ago. Since then the reserve fund has been built up and should cover all uninsured damage in the future. The units are old but an ongoing maintenence program keeps them in fairly good shape. Check it out, it might be what you are looking for.

I have a friend well experienced in timeshares who owns at Topsider and consistently says good things about the facility --- and its' management. He also still owns a few weeks at the dumpy Key Largo place where I used to own (...with maintenance fees now approaching $900), so I clearly understand his benchmark for comparison. Topsider may indeed be well be worth looking into if you decide to buy instead of just renting...
 

Esteban

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Topsider is added to my list to see. I looked them up online & they look nice. Older, which is OK with me, but nice. Being single, I don't need to have a luxurious place. My Beagle is happy living with me !! LOL. I like having a little beach area. What units would you say have the best view, are in better condition,, etc. ?? Thanks.
 

Rob&Carol Q

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Actually, I rather like the comment "Rent, don't Buy" if you are just starting out. Doesn't hurt to see how things work before buying...

Basically, Rent is "Right Now"...Maintenance Fees are "Forever"

something to consider...what are you going to do with this TS in 15-20 years?
 

silverfox82

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The only 2 units on the water at topsider are 1 and 11. An ariel view would put 1 thru 10 on the left and 11 thru 20 on the right with the pier between 1 and 11 (I own 11). We owners are the management and hire the lovely couple (Richard and Tuesday) who run the day to day operations and are also the real estate agents who handle rentals and sales. I also own 2 weeks in the caribbean which I either use or trade thru II but have never even thought of not using my weeks at "topsy". If I sound like a walking ad for this place, well, I am but only because I like it so much. We have almost full weeks ownership and the future looks bright financially. Owners have docking rights if you trailer a boat down, there are kayaks, canoe's and bicycles for free, a tennis court, pool and hot tub. Other than that you are on your own, its not handicapped friendly since all the units are up a flight of stairs. There are washers and dryers underneath each unit also. During my 2 fall weeks we often have a manatee stop by for a belly scratch and the dock has pretty good fishing although I have not personally ever seen a fish caught big enough to eat. Perhaps you should rent a few nights and see if its what you are looking for, good luck in your search.
 
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silverfox82

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Oddly enough, although the Topsider does not allow pets, there are a couple of cats and a bunch of egrets that seem to have no fear of walking right into my unit, pretty cool if you like that sort of thing. I forget how long it is (12 years?) before the owners have to deceide what to do with the property, continue as a timeshare or sell the property splitting the money or any other number of possibilities. My thoughts on a purchase here is that if at some point it was no longer wanted, the right unit/week could be rented for a profit annually thru the in house program and then the possibility of a substancial payout down the road. I'm not suggesting that this would be a reason to buy since obviously making money on a timeshare is rare but its a thought if the concern is what to do with it if its not being used and you dont want a liability. I'm actually trying to buy a 3rd week to have 3 consecutive weeks in the primo unit but the owner laughs at my lowball offers, oh well!
 

Esteban

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I have contacted Topsider & a couple more timeshare places. Yes, I will definetly visit before commiting. My daughter will have it after I kick the bucket. Thanks for the replies, & let me know if you have any more.
 

silverfox82

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Although we have very few defaults and a pretty relaxed policy on forclosures a certain amount do come up every year and the association sells them off quite cheaply so you might want to check with Richard about that. In the past they have thrown in the first years MF also so its a good deal. Don't be shy about making an offer lower than the ask price, I got a good deal on my weeks that way. Many of the original owners who bought from the devoloper are now "senior" citizens and have had many good years there and are more than willing to pass it on for a fraction of what they paid. Good luck!
 

rili

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I own two weeks at Topsider and we love it. Friends and family frequently rent a unit for the week we are there and they always have fun. If you have a boat and like to fish it rocks. There is a ramp and dock on the property for the guests (no charge). Maintenance is $650/year. the only special assessment we have had was after a hurricaine took the dock out a few years ago. The units are older, not luxurious and can get hot mid summer, but it is perfect for my family. If you don't like to boat/fish or just chill you may want to look further south.
 
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Esteban

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I do love being on the water. Boating, snorkeling, fishing, & I did Scuba, but cannot anymore. I have a boat, too.
I am going to be in that area the end of next month & have contacted them. A week in the Spring would be great. Would be great to have a week in teh beachside units, but I will wait & see.
 

Esteban

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[Please click on TUG Marketplace in the red bar at the top of the page. Buying/selling is not permitted in the discussion forums. - DeniseM Moderator]
 
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Conan

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...the dumpy Key Largo place where I used to own ...

Would that be the Anchorage Resort? I booked an exchange into the Anchorage Resort yesterday!
 

theo

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Nope...

Would that be the Anchorage Resort? I booked an exchange into the Anchorage Resort yesterday!

The facility to which I referred previously was Florida Bay Club.
I don't know anything about the Anchorage facility, except that the new bridge is a significant presence looming high above it... :shrug:
 
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