# When to let go of WorldMark ownership?



## DaveNV (Jan 28, 2021)

I need some Tugger advice.

I'm finding myself at a crossroads.  When does the cost of ownership tip the scale on the value of what is owned?  

I'm giving a lot of consideration to letting go of my WM ownership.  Because of Covid, I've had to cancel the last two trips I had planned, (three-week vacations in Hawaii), and since they're in such a high-demand location, I don't feel like I'll be able to schedule them again.  When Covid lightens up, it's going to be even harder to schedule a vacation there.  I have WM credits on deposit with Interval as part of this, that are likely going to expire unused.  I have been able to get refunds on some, but not all, of the airfare I had booked.  But I have some flight credits that need to be booked in the next several months, or they will also expire unused.  All of this is money down the drain.  (Not complaining, just stating my reality.)

But it's not all Covid-related.  I find now that I've retired and moved to my destination of choice, there isn't any real need to stay in a timeshare within day-trip driving distance from my home. Unless we were to fly someplace for a vacation far enough away, and to stay long enough to use enough credits, (likely a week's stay booked at 13 months, due to availability), it starts to seem the timeshare options aren't going to be worth the trouble.  Newer WM resorts, and those in areas we are likely to visit, seem to have more credits required above the amount we own.  So there is the "borrow or rent" challenge to have enough to get what we want.

You folks know the train of thought I'm on.  I don't want to continue to spend the Maintenance Fee amounts I'm paying for WM credits that aren't going to be reasonably used.  I can book a single night in a decent motel for less than I'm paying in maintenance fees at WM, whenever I want to do so.  If I can't get into the WM resorts I want to get into without doing backflips and backroom handshake dealings, then I'm thinking it is moving quickly towards time to divest myself of my ownership.  I can rent what I want, when and where I want, for the going rate from other WM owners.  Even if that's more than the maintenance fees, it'll still be less of a problem, going forward.  So at what point is it time to pull the plug, and let WM go?

I'd like advice from those of you who see this in a different light.  What do you think?

Thanks very much.
Dave


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## Passepartout (Jan 28, 2021)

Dave, Sell. You are where you want to be now and the 'new' hasn't worn off- and may not for some time. There are other ways to travel, cruises, tours, BnB's, etc. And don't forget TUG rentals. AND, you're still welcome here. Oh, and since you bought your WM resale, you aren't too concerned with getting your money's worth for it. Plus- if it turns out, after Covid and Hawaii opening back up, you can buy in again if you want to. 

Good timing, my friend.

Jim


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## samara64 (Jan 28, 2021)

Dave,

Good thoughts but think of it in long term. I have a large membership and yes I got hit with COVID but I still try to use it. So do not think short term but rather long term.

Now depending on the account size and your goals, maybe you can downsize the membership so you can still use it where needed.

Maybe in 5-10 years, I will be doing the same and downsizing. My kids wants to be member so I am giving them some points. We enjoy going to few resorts like Seaside and Vancouver.

Now since you moved to LV, I do not think the LV Worldmarks are worth it but maybe an exchange to MGC will do it.

I normally take some time to think about such decisions so I would encourage you to evaluate it before moving forward specially if you can downsize it to 5K and use it every other year specially if it is your only TS.

Best,

Sam


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## Tacoma (Jan 28, 2021)

Remember timeshares were never meant to be for one or two nights they were supposed to be for a week or more. Yes WM has made those single or few nights more expensive than a hotel room in some cases. Still for me the advantage of a comfortable place to sit with a kitchen even if I don't really want to cook a lot outweighs the few extra dollars over a hotel room.  In Banff over NYE we watched several people eating their food on a bench on the sidewalk since restaurants were closed. That would not appeal to me.
  Because I still do several week long holidays in prime season it remains worth it to me. Renting points in and out is really quite effortless when you need to do it. Will you be returning to your old area to see friends? If so would worldmark be useful then? Are there cities that you like to go on short holidays to that worldmark has locations? If we have to burn points we fly to Vancouver or Victoria for 3-5 nights and enjoy the urban experience. If less urban areas are where you like to vacation worldmark has lots of areas with beautiful natural vistas in easy driving distance. Running Y and St George Utah come to mind. 
I would give it at least a year after covid to see what the new normal looks like. From what I remember you got an absolutely smoking deal on your ownership. I vote keep and reevaluate in a year or two.
Joan


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## vacationtime1 (Jan 28, 2021)

We had a similar decision.  We moved a couple of years ago -- only about ten miles, but to somewhere where there are summers, unlike San Francisco.  So no need for Hawaii between April and October. 

We sold our Hawaii Marriott units.  The decision was cost based. Marriott MF's for Hawaii properties are out of control and we will recoup most of our capital having purchased resale.

fwiw, we took a year to reach that conclusion and the inability to travel due to covid accelerated our decision.


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## Karen G (Jan 28, 2021)

DaveNV said:


> I find now that I've retired and moved to my destination of choice, there isn't any real need to stay in a timeshare within day-trip driving distance from my home.


I know just what you mean. Since we have many things right here at home that we used to travel to timeshares for--sunshine, warm days, no rain, golf, pool, great selection of restaurants, entertainment (pre-Covid but hopefully will return!)--there wasn't a great need to keep paying those maintenance fees.


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## Hobokie (Jan 28, 2021)

@Karen G , did you get rid of a few of yours already then or are you planning on it? 

@DaveNV , while I personally cannot see a day that I would get rid of my WM, based on your comments it seems like it might be time for you!  I should mention I have a tiny contract (6k) so maybe that's why. You've got tons of friends here on TUG, I'm sure, so don't fret, I'm sure you can still get into WM resorts at a reasonable price in the future through a friend! 

BTW, @Tacoma , currently we can only book 2+ reservations on WM, single nights are no longer an option.  This is allegedly temporary due to enhanced cleaning with COVID, but I suspect it's here to stay...


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## chellej (Jan 28, 2021)

Dave

I understand your problem.  I am not retired but close.  I am down to 4 weeks and after cancelling 2 covid trips have several weeks to rebook.  Right now, and maybe into the future, I don't have the desire to go anywhere.   I ended up using my Hawaii weeks to exchange into Worldmark west Yellowstone and will pair that with an owned week in Island Park and go for 2 weeks.  I will deposit my other owned Island park for something down the road.  The other Hawaii week is rebooked for Dec 2022.

Trying to figure out what to do with the banked weeks is difficult because nothing sounds interesting.   Hopefully, when life returns to something closer to normal, I will feel differently.  I am right there with you questioning if its times to get rid of the weeks.


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## easyrider (Jan 28, 2021)

I doubt we ever sell our WM. It is a decent trader. We like the resorts. It will be the keeper for many reasons. I know people that have sold their WM only to be missing it after a year or two. If a person wanted to take a few years off they could always join the WM rent and sell FB group and rent their points or reservations. I think having planned adventures and places to go keeps a person fresh and creates a higher quality of life in general. 

Bill


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## bogey21 (Jan 28, 2021)

The way I look at it is there were  three things that influenced me when I retired and decided to dump my Floating Weeks and Points.  First, exchanging became too big a hassle.  Second, I decided that I wanted to go to the same places every year.  Third, was the economics of restructuring...

In my case I sold my 4 Floating Weeks and Points and used 1/10 of the sale proceeds to buy 6 Fixed Week/Fixed Units at 6 different HOA Controlled Independents.  I concede that the economics would be different today but my methodology would still be the same...

George


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## HudsHut (Jan 28, 2021)

@DaveNV 
Please send me a pm to give me the details of this sentence:
<< I have WM credits on deposit with Interval as part of this, that are likely going to expire unused.  >>
If you have a destination in mind, I can help you make sure you use those so they don't expire. For example: Are you still interested in Hawaii? You could use that deposit for a week in Hawaii.


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## Firepath (Jan 28, 2021)

You are within driving distance of San Diego and there are quite a few WM locations there. Regular lodging is expensive. The weather is almost always nice. Perhaps a nice "get away from the heat" trip during your hot summers?


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## Karen G (Jan 28, 2021)

Hobokie said:


> @Karen G , did you get rid of a few of yours already then or are you planning on it?


Yes, we got rid of all our timeshares a few years ago.


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## DaveNV (Jan 28, 2021)

Firepath said:


> You are within driving distance of San Diego and there are quite a few WM locations there. Regular lodging is expensive. The weather is almost always nice. Perhaps a nice "get away from the heat" trip during your hot summers?



I have a brother who lives in a great house in San Diego. I am forbidden to stay at a timeshare there without checking with him first. 

Dave


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## Bonkhead (Jan 28, 2021)

I'm having the same thoughts about selling.  We have been WM owners since 1996 and now with our 35K credits, we are paying around $245 a month for dues, plus housekeeping for each stay.  I have seen numerous comments about the ease of renting out credits, but I still have no clue how it is done.  I contacted Ovation today regarding the possibility of getting rid of our credits and they referred me to several resellers which I have not contacted.  If we could possibly get some income from renting, I'd love to do that, but I don't know where to start.


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## samara64 (Jan 28, 2021)

Bonkhead said:


> I'm having the same thoughts about selling.  We have been WM owners since 1996 and now with our 35K credits, we are paying around $245 a month for dues, plus housekeeping for each stay.  I have seen numerous comments about the ease of renting out credits, but I still have no clue how it is done.  I contacted Ovation today regarding the possibility of getting rid of our credits and they referred me to several resellers which I have not contacted.  If we could possibly get some income from renting, I'd love to do that, but I don't know where to start.




If you sure you want out, you can sell your membership and rent credits on the WMOwners website. Prices have gone down but you still can net $3500 to 4000 for the membership easy. Let me know if you need help.

Here is a link.

To rent credits:






						Credits for Rent (Out)
					

Owners offering WorldMark one-time-use credits for rent (out)



					www.wmowners.com
				




To Sell it:






						Memberships for Sale
					

WorldMark Contracts (permanent credits) for sale or loan assumption



					www.wmowners.com


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## Bonkhead (Jan 28, 2021)

Thanks for your reply, and especially the links, I'll check out the current prices.


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## geist1223 (Jan 28, 2021)

Bonkhead said:


> I'm having the same thoughts about selling.  We have been WM owners since 1996 and now with our 35K credits, we are paying around $245 a month for dues, plus housekeeping for each stay.  I have seen numerous comments about the ease of renting out credits, but I still have no clue how it is done.  I contacted Ovation today regarding the possibility of getting rid of our credits and they referred me to several resellers which I have not contacted.  If we could possibly get some income from renting, I'd love to do that, but I don't know where to start.



With a 35K account you should get 3 free Housekeeping Tokens per year. Also go to www.wmowners.com. This is a site by Worldmark Owners for Worldmark Owners. There is a active sale of accounts on the page. The current rate is about 10 to 20 cents per Point. There is also an active rental of Points.


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## geist1223 (Jan 28, 2021)

Dave this has been a bad year for all timeshare owners. We missed out on trips to Windsor, Vancouver, Hawaii, and Seaside. You can use your Points to visit the NW, Hawaii, Mexico, Fiji. I would go slow and really think about it.


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## DaveNV (Jan 28, 2021)

geist1223 said:


> Dave this has been a bad year for all timeshare owners. We missed out on trips to Windsor, Vancouver, Hawaii, and Seaside. You can use your Points to visit the NW, Hawaii, Mexico, Fiji. I would go slow and really think about it.



Thanks, Tom.  I've accepted the Hawaii trips are toast, due to Covid.  I'm trying to look down the road, to how we'll use the WM credits later on.  The one thing I hadn't really considered is the WM to Interval deposit option.  Ever the optimist, I went to II after starting this thread to see what I could salvage, and I found a Kona Coast Resort II exchange available for two years from now, and I grabbed it.  (I figure if we don't have Covid under control within two years, we never will.)  

So I'm going to hang onto my WM for now, and work on expanding that trip in two years, by adding in back-to-back weeks on other islands. I haven't spent much time in Hawaii during whale season in many years, so maybe it'll be a good time to visit by then.  And with Eplus on the exchange, I can swap it out if something better comes along. We'll see how it goes.

Dave


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## Eric B (Jan 29, 2021)

DaveNV said:


> ....  The one thing I hadn't really considered is the WM to Interval deposit option.  .....
> 
> Dave



One other potential option would be depositing with an external exchange like ThirdHome.  There isn't a direct way to deposit credits there, but you can make a reservation for a week at a WM resort and use a guest certificate for whoever takes it; I was able to exchange a week in WM for a week at this place in February 2022:





__





						Luxury Vacation Properties
					

Explore the luxury vacation properties available for exchange at premier destinations with THIRDHOME Exchange




					exchange.thirdhome.com
				




The exchange fees are a bit on the high side, particularly compared to WM even if you use II, but there are some gems in there - this one came with a private chef for three days out of the week we'll be there.


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## presley (Jan 29, 2021)

WM made a lot of sense when you lived in the Pacific NW. I can see where you may not use as much at this time. Do you think you'd ever stay at St. George? I thought of that location as being a good place to spring off to Zion, but maybe you are close enough already.

Perhaps renting out your credits now and then reassess in a couple years if you find you are still not using it. I had some good times with WM. I had a nice ocean view room at Oceanside harbor (which I think has been closed for covid), Dolphin Cove, and my favorite was Bass Lake. In the end, I decided I didn't really want to travel without my dogs that much and that eliminated WM for me. If you are comfortable traveling without your pets, there are a lot of locations you may decide to visit when you are settled and covid is settled. Or, you may be like me and want a full service hotel at this point, lol.


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## Passepartout (Jan 29, 2021)

DaveNV said:


> So I'm going to hang onto my WM for now, and work on expanding that trip in two years, by adding in back-to-back weeks on other islands. I haven't spent much time in Hawaii during whale season in many years, so maybe it'll be a good time to visit by then.  And with Eplus on the exchange, I can swap it out if something better comes along. We'll see how it goes.


I think it was a good exercise to get a bunch of opinions and points of view from TUGgers who.ve faced this issue.

Like one's investment portfolio, it makes sense to adjust your timeshare portfolio as life's inevitable changes come along. What one considers a 'perfect' vacation in their 40's differs greatly from being in their 60's and beyond.

Thanks for this insightful lesson, Dave. That's what makes you such an important TUG member. Keep up the good work, Amigo. When I grow up, I want to be as smart as you.

Jim


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## DaveNV (Jan 29, 2021)

presley said:


> WM made a lot of sense when you lived in the Pacific NW. I can see where you may not use as much at this time. Do you think you'd ever stay at St. George? I thought of that location as being a good place to spring off to Zion, but maybe you are close enough already.
> 
> Perhaps renting out your credits now and then reassess in a couple years if you find you are still not using it. I had some good times with WM. I had a nice ocean view room at Oceanside harbor (which I think has been closed for covid), Dolphin Cove, and my favorite was Bass Lake. In the end, I decided I didn't really want to travel without my dogs that much and that eliminated WM for me. If you are comfortable traveling without your pets, there are a lot of locations you may decide to visit when you are settled and covid is settled. Or, you may be like me and want a full service hotel at this point, lol.



I agree, it was easier when we lived in the PNW.  When we'd come to Las Vegas, staying at one of the WMs there made sense, as did St. George, for those trips to Zion, and  into the Utah Red Rock country.  But now, living where we are, LV is ~80 miles in one direction, and St. George is ~40 in the other.  Being this close to things, it doesn't make a lot of sense to stay overnight at either place.  That was a major reason I posted this thread, to gain some perspective on what to do with this ownership.

Renting out credits seems like it'd be more of a hassle than it's worth.  So many others are already doing it, there doesn't seem to be a shortage of availability for anyone who wants to rent them. But I think if I knew I'd have them available every year, I'd just sell the ownership, and move on to other methods of travel planning.

I don't really have a problem with WM as a company.  There are limitations I wish weren't there, but it is what it is.  I own a 12K account, so it's not a lot to try and use.  I like the flexibility, and options for short stays.  But the booking date limitations, and inability to easily book what I really want makes it less appealing, overall.  I don't know that a better option exists, short of renting from an owner.  My financial bottom line is trying to decide whether I'm getting full value in return for the ~$100 a month I'm spending for it.  Now that I'm retired, that ~$100 could be used for something more immediate.

First world problem, for sure.  

Dave


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## DaveNV (Jan 29, 2021)

Eric B said:


> One other potential option would be depositing with an external exchange like ThirdHome.  There isn't a direct way to deposit credits there, but you can make a reservation for a week at a WM resort and use a guest certificate for whoever takes it; I was able to exchange a week in WM for a week at this place in February 2022:
> 
> 
> 
> ...



I'm not familiar with that company, Eric.  I'll check them out.  Thanks for the tip!

Dave


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## DaveNV (Jan 29, 2021)

Passepartout said:


> I think it was a good exercise to get a bunch of opinions and points of view from TUGgers who.ve faced this issue.
> 
> Like one's investment portfolio, it makes sense to adjust your timeshare portfolio as life's inevitable changes come along. What one considers a 'perfect' vacation in their 40's differs greatly from being in their 60's and beyond.
> 
> ...



You, Sir, are a crackup.  The entire point of this thread was to try and decide when and whether it may be time to decide when to let things go.  I've never been afraid of change, just need to decide when and if the time is right.  The journey continues.  

Dave


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## Eric B (Jan 29, 2021)

DaveNV said:


> I'm not familiar with that company, Eric.  I'll check them out.  Thanks for the tip!
> 
> Dave



Happy to help out a fellow tugger.  I've posted a few tips about them in other fora here (never did like pluralizing it as forums); if you're interested in more info let me know by PM and I can give you tips on what WM resorts do well there.


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## DaveNV (Jan 29, 2021)

Eric B said:


> Happy to help out a fellow tugger.  I've posted a few tips about them in other fora here (never did like pluralizing it as forums); if you're interested in more info let me know by PM and I can give you tips on what WM resorts do well there.



Awesome. Thanks!

Dave


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## DaveNV (Feb 4, 2021)

Update: I spoke with my brother and SIL in San Diego last night.  We talked about trying to spend some time together, and about my Interval deposit that expires at the end of May.  We decided to take a leap of faith, and booked a 2br unit at Marriott's Desert Springs Villas II in Palm Desert for this May.  Even if things are mostly still closed by then, we know we can enjoy our time hanging out at the resort.  We'll bring food and drinks from home, and make use of the kitchen and BBQ grills at the resort.  It'll be a good way to spend the time together, and use this prepaid II deposit that would otherwise expire unused.  Win-win.

Dave


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## HudsHut (Feb 5, 2021)

The Marriott in Palm Desert is a gorgeous property, and is walking distance to the JW Marriott hotel, which is also fun to explore.


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## DaveNV (Feb 5, 2021)

HudsHut said:


> The Marriott in Palm Desert is a gorgeous property, and is walking distance to the JW Marriott hotel, which is also fun to explore.



From all the pictures and reviews, it looks and sounds really nice.  Looking forward to seeing it.

Dave


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