# Is a timeshare right for my family?



## Bridgeje (Mar 22, 2007)

Hi all i found TUG via a search of Google. I stayed at the Ko Olina on Oahu HI (beginning of this year) and loved the place and became very interested in TS. We didn't see the presentation; we had booked through the Marriott web site. So I’m looking for a sage advice. Now I a little stubborn on location, Hawaii is the place I would like to buy. Here are my questions and my family limitations.

We have 4 yr old and another on the way. So taking a vacation when my wife and I have time is all we have to worry about now. But when the children are older it will probably be regulated to summer, winter and spring break’s. How hard is it to get those time if you have floating week?

We probably wouldn’t be able to buy it out right. Looking at the resale market for Hawaii locations at the nice resorts (i.e. HVC, Starwoods and Marriott) I could be at about $20K or more. Do must TUG users buy them out right? Do any of you recommend financing it?

After doing some reading of this board if we do purchase one I’m leaning towards a 2bd w/lock-off. My thought is while the kids are young we use the 1 bd and deposit/trade (not sure or correct lingo) the lock-off and when they’re older we can use both. By not using a lock-off do you get a good amount of trade value (for a Hawaii TS)? 

Thank you in advance I’m glad I found this place. It has already been a great help in learning about TS. As I new nothing before.


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## AwayWeGo (Mar 22, 2007)

*Too Rich For Our Blood.*




Bridgeje said:


> I could be at about $20K or more. Do must TUG users buy them out right? Do any of you recommend financing it?


Well, the money you're talking is _way_ over our budget, & we're just old retired folks with no debt & lifetime pensions & more money than brains. 

We have $5*,*500 or so tied up in 4 timeshares -- 2 we like going to ourselves (although we've rented'm out sometimes when we couldn't go ourselves) plus 2 others we bought just for favorable trades into other people's timeshares (1 via timeshare points, 1 via straight week-for-week timeshare trades).  

We don't recommend financing timeshares on the never-never plan (i.e., installment payments).  Then again, we don't think it's a good idea to sign up for time-payment installments to buy anything except real estate -- not even cars & for sure not timeshares.  But that's just us.  

We don't know what most TUG folks do, other than that most of'm avoid paying full-freight for "new" timeshares.  Why?   Because "used" (resale) timeshares are lots cheaper for essentially if not exactly the same thing.   Plus, _all_ timeshares are used by the time you show up & check in, even those full-price & full-freight timeshares the timeshare companies sell you at those high-pressure, arm-twisting timeshare sales presentations.  

As Yogi Berra might have said, you can observe a lot just by watching what's on TUG. 

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


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## Icc5 (Mar 22, 2007)

*It's your life*

Some of the things we've done and noticed over the past 20 years of owning timeshares is:
Not an investment to make money off of but to enjoy life, travel,and since we are very family oriented we love family reunions at the timeshares.
Buy on the open market, not from the place itself and shop around, don't just grab anything.
Keep in mind expenses such as maintanance, exchange fees, property tax, etc.
We paid ours off in full right away and if you can, I believe that is best.  If you can't, do not let any timeshare company finance it.  Find your own financing!!!
Over the years we have traveled to great places, stayed at great timeshares (all Gold Crown) saved a fortune on food by eating most meals in the timeshare, enjoyed the facilities with the kids and still do.
We now have a daughter that is pregnant and I'm sure her, her husband, and the baby will be staying with us many of times and enjoying what we have all learned to enjoy.
Hope this helps, if not then just email me and I will tell you anything I can.
Bart


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## Bridgeje (Mar 22, 2007)

Thank you for the quick responses. I'm really impressed with this site. So I'm going into this thinking that it would not be an investment. THis would be forr us to vacation and over time I think it would be cheaper to own a TS then to go torent astudio/villas every year in Hawaii. Is it possible to get a 2 bd 2 bth TS in Maui or Kauai (at a nice resort) for under $15K?


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## DeniseM (Mar 22, 2007)

Bridgeje said:


> Thank you for the quick responses. I'm really impressed with this site. So I'm going into this thinking that it would not be an investment. THis would be forr us to vacation and over time I think it would be cheaper to own a TS then to go torent astudio/villas every year in Hawaii. Is it possible to get a 2 bd 2 bth TS in Maui or Kauai (at a nice resort) for under $15K?



Absolutely - Have you checked out ebay?  You definitely don't need to spend 20K or finance it.  You will enjoy your TS a LOT more if you aren't making monthly payments!  Hawaii/ebay

Take your time, study ebay and other resale sights for awhile, read the TUG reviews (you have to join TUG to do so) visit the TUG boards for the resorts you are interested in, buy resale, and don't finance!     The Starwood posts and owners are on the Hotel Based System TS board here on TUG.

Also - have you checked out the Bargain Basement TS page where other Tuggers are GIVING AWAY timeshare weeks!  Anything on that board would allow you to exchange into Hawaii using Hawaii Timeshare exchange for a very inexpensive TS vacation.  Bargain Board

Hawaii Timeshare Exchange - to log-in as a guest put 9999 in the top box and htse in the bottom box.


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## elaine (Mar 22, 2007)

*read tug, esp. the review section and wait for 1 year*

since a baby is on the way, I would wait 1 year--that's a major life change.  In the meantime, educate yourself and consider "renting" a timeshare, either thru TUG or redweek.  You can get a decent deal (much better than thru Hilton, Marriott, etc. booking), and you can check it out--you can also do this for lesser known resorts---a good idea, esp. if you are thinking you might use it a fair amount.  Then, start "hunting."  There are several very reputable brokers who sell Marriotts and HGVC---both of which have lovely Hawaii timeshares.  Good luck. Elaine


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## talkamotta (Mar 22, 2007)

*First of all join TUG*

It will save you a lot of money on the review section alone.

Whenever I want to buy a timeshare, I have one screen on Ebay (or where ever) and one screen on the review section.  

There seems to be more every other year (EOY) timeshares for Hawaii than other locations.  I would think the cost of airfare plays a big part in that.  Its not that hard to find an EOY for under $5K.  I found that it was very hard to trade into Hawaii so I bought.  My first was an every year (Sands of Kahana on Maui) and then I bought an Odd year (Pahio on Kauai).  Later down the road, when I retire,  I will buy another (even year on the Big Island).  Last year was the first time I had been to Hawaii and I fell in love with the Big Island. Each island has so much to offer, I was overwhelmed. 

Two mistakes that people make when buying thier first timeshare is 1. buying from the developer and 2. financing it through them.  (I count myself among those  )   *So start small within your budget. * Most Hawaii's maintenance fees are higher.  Remember that your family situation will be changing. You might only be able to get over to Hawaii every other year.


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## geekette (Mar 22, 2007)

Definitely take your time.  You might see what's available within an easy drive of home and take the tour.  DO NOT BUY ON A TOUR, THIS IS JUST FACT-FINDING.  Collect your gift and hit the road.  

If you find a resort near you that also offers bonus time or day use, you will get so much more for your money - it would be more like a country club.  That may or may not fit well into your long term plan for your family but you need to know that those kinds of things are out there.  If it's an easy drive, that knocks down a common obstacle:  getting there. economically.

Do your research on these places on ebay and other sites to see what you could really get them for, and what the maint fees really are.  Rent a week to be sure you could see yourself returning.  Come here for info on how fast those fees are going up and if a special assessment is coming.  You should get a feel for how quality, price and amenities vary.  

I've never owned a lockoff, but that's a decent idea to consider.  

do some checking into 'mini systems' that might work for you = it's a great way to "trade" into in-network resorts; free or low-fee.   I own in Bluegreen and enjoy Bonus Time and over 40 resorts that I don't have to pay an extra fee to book into (including Hawaii and Aruba).  I believe Worldmark is a better fit for West.

Airfare gets pricey when you have to buy 4 seats, and it's rough to lug around all the gear that children require when you're flying.  Someone will correct me if I'm wrong, but HI maint fees are rather steep compared to other resorts.  You must factor that in and figure they will only go UP.

Basically, take your time and check out the scene.  There is no deal offered you today that won't be available again.  Don't rush this because while it isn't an investment, it is a committment.  Do your homework and be very sure that what you're buying fits your life.  

GOOD LUCK!


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## turkel (Mar 23, 2007)

Hawaii is really expensive and if you have to finance it frankly you can't afford it.  You can buy a lesser priced timeshare and get to hawaii.  For example since you live in Ca. as I do you could pick up a Marriott Palm Desert resort (there are 3) and trade to hawaii.  This requires advance planning or short notice travel and some PATIENCE but the rewards are paying less out of pocket and enjoying the thrill of the hunt.

Marriott has a 24 day priority so no outside property owner gets the trade but other Marriott owners in that time frame.

I bought my Marriott 2 yrs ago, we will be making our 3rd trip to hawaii(@KoOlina)this August.  2 were short notice trips in flexchange (the 59 days prior to check in)this next one was request 14 mos out.  It is doable.

I only know the Marriott system so if your considering a Marriott I would be happy to help.  I bought a Marriott because my mother owned and went to Hawaii every year for 8 years (not owning Hawaii)  I bought what I knew how to work.  I now give her and her friends Marriott tutorials.

Stick around and take your time learning and when and if you decide to buy you will be much smarter than the average owner.  Knowledge truly is power.

 Turkel


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## charford (Mar 23, 2007)

Welcome to TUG!

There is a wide range of quality in timeshare resorts. I haven't stayed at Ko'olina, but I did stay at Marriott's Waiohai on Kauai. That was one of the top timeshares that I've experienced in my 15+ years of timesharing. I suspect that Ko'olina is of a similar quality.

You can get resale timeshares in Hawaii in the $1K range, the $5K range and the 15K+ range. Marriotts tend to be in the top range. If you can live with lesser quality, you will spend much less money. Keep in mind that a resort that is rated 5* or Gold Crown may not be as much to your liking as another top rated resort. You could also find an every other year timeshare for about 60% of what an every year timeshare costs. Read the TUG reviews.

There is a Marriott board on this site which is a wealth of info. I suggest studying that board.  

If you have two small children who are going to be school age soon, the standard recommendation is to buy where you want to go. I agree with that. Others may have had great luck with exchanging, but exchanging is iffy, and if you want to go to HI in summer, you will probably be out of luck. If you want to go to HI at least every other year, buy in HI. It's a lot easier to exchange to somewhere else with a HI timeshare than it is to exchange into HI. 

Some have used low interest rate credit cards to finance their timeshare purchases. The interest rates from developers are astronomical. Because of the rates and the higher cost that they charge for the same product, you may end up spending 2.5 - 3X the cost that you would spend buying from a reseller. 

Good luck!


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## m61376 (Mar 23, 2007)

Welcome to Tug!

Ko'Olina is a beautiful resort and made us, too, fall in love with timesharing. We stayed there by chance last summer when we won a donated week at a fundraiser at our daughter's school. We left wondering why we never thought of timesharing despite having gone on lots of family vacations, generally 3 generations.

As others have pointed out, there are lots of different properties in all price ranges. Whether the amenities of Ko'Olina and other Marriotts is worth the expense is a personal decision- you have to be able to afford it and want to spend the money for it. Marriotts do have a 24 day priority for trading into other Marriotts, but many people will chime in that they've traded into Hawaii Marriotts very successfully with Worldmark credits, etc. If you can make travel plans within 59 days everything opens up and late deposits can be nabbed with traders that are either smaller or lesser in quality, so if that is an option for you it is worth considering. Of course, there is more effort involved in doing this successfully.

That said- I'd like to address a few of your other questions. Financing a timeshare is not something most of us generally recommend. You are saddling yourself with expense for a luxury and it really adds to the cost of the purchase. Just be aware of how much the total cost will be when making your decision.

Buying a 2 BR lock-out unit resale is a good choice. For the next several years you can use the 1 BR side and trade the studio side. You might want to consider an every other year purchase. If you bought a Ko'Olina unit, for example, for every even year, then you could split the unit, reserve and occupy your 1 BR side and deposit your studio side into II for trading. That studio will have nice trade power. While you cannot do an on-going search for a larger unit then you are depositing at a resort that has studios, you can request even a 2 BR unit at resorts that only have 2 and 3 BR properties. For ex- you could go to Oahu in '08 and try to exchange into NCV for '09. Of course, getting that exchange over the summer months may be tough, but if you are able to look for a last minute exchange (within Flexchange) for that studio you will likely be very happy with what you can get. I personally think that would be a good approach for you. That way, as your family matures and perhaps your financial situation allows for an additional purchase, you can add another EOY unit if you want and you can have the option of buying a property in a different island. If I lived in Cal. rather than NY I would likely take that approach.

The other suggestion above to peruse different properties to get a feel for your different options is a good one. After staying in Ko'Olina you may find the cheaper properties a let-down; alternately, you might find them great for your needs and question why you'd need to spend that kind of money. That's why there is such variety- to satisfy a wide range of tastes. 

Good luck!


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## Steamboat Bill (Mar 23, 2007)

some brief advice:

1. Join TUG
2. Read all reviews and posts
3. Study the TUG for about 1-2 months
4. Decide if renting is cheaper on VRBO.com or the classified or redweek.com
5. Decide where you want to visit often
6. Decide what timeshare company you like best
7. Buy resale
8. Do not finance, unless it is cheaper than 7% and even then, I still don't reccomend financing to 99.9% of TUGers.


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## potchak (Mar 24, 2007)

Welcome to Tug Bridge! 
I had been a long time lurker before I ever bought. I had wanted to buy a timeshare ever since I borrowed a friend's timeshare in Williamsburg and absolutely loved it. I loved the large room with 2 bds and a full kitchen, not to mention the jacuzzi in the master bath was a nice touch! I liked the thought of being able to trade the unit for many locations within Interval international (yes, there is a membership fee and an exchange fee, but it opens up the locations you can go to).

My big problem originally was my husband agreeing to buying one, as he had absolutely no interest in a timeshare. He felt that we could stay in hotels and we would be fine. I had actually been pushing him to buy DVC because I love Disney so much, but we ended up taking one of the Preview packages to the Waiohai in Kauai, and went to the tour. After seeing the property he finally agreed that we could save money and enjoy lots of fun locations. Since I finally had his approval, I allowed myself to go the route of buying from the developer. I didn't want to get home and find out that he changed his mind and then we were still without a timeshare.  

However, we bought the 2 EOY units from Marriott directly, got 125K Marriott Reward points and have the ability to trade for points. Granted now I know that what we got was small beans compared to what they used to give, and the points cost too much to trade anymore for most locations, but we have that option. 

We also did not have the cash immediately, and allowed Marriott to finance it for the first 3 months, then we got an unsecured loan from Capital One for only like 6.5%. I couldn't believe the deal we got, on the interest rate anyway.

Ultimately the final decision is yours. I chose to go the route of buying developer because that was the chance I had that my hubby finally agreed to. We are young still (early to mid 30's), so I feel we can get a lot of use out of the timeshare and our II membership. We are DINKs, but have a big extended family, so we will probably end up getting a lot of getaways. Heck, we are already talking about buying another week, this one for every year, but have already decided if we do, it is definitely a resale that we will buy. Williamsburg is one of our favorite locations, so we would probably buy a Marriott Manor Club unit. 

Apparently, if you research well enough, and you are definitely on your way with joining tug, you will find the right timeshare for you and your family. If you like the Marriott quality, as we do, there are several TS's in Hawaii (Ko Olina, Waiohai, Kauai Beach Club, Maui Ocean Club),  and a couple in California (Newport Coast,Desert Springs I&II, Shadow Ridge, and Timberlodge, TL has lockouts too) that you may think about. You also may want to consider an EOY unit as I did. We get Hawaii one year and Tahoe on our other year. That may not be a bad solution for you, and you can still do this in the resale market. 

From what I have heard there are some great traders out there if you search hard enough and they do not cost what a Marriott costs. The big key of timesharing is buy where you want to stay. If you believe that you will be staying at Ko Olina most frequently, buy there. I personally would also buy the lockout unit. They have great flexibility for your family. For now, you can lock it out since you only need the 1 bd, later when the kids are in school, you have 2 bds, and when the kids are grown and not vacationing with you again, you can lock it out again. 

Just my 2 cents.


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## vacationtime1 (Mar 25, 2007)

Steamboat Bill said:


> some brief advice:
> 
> 1. Join TUG
> 2. Read all reviews and posts
> ...



Bill's brief advice is excellent advice, especially items 1-8.  

Two things you will learn from your research is that the market for resale timeshares is always a buyers' market, and that the impossibly good deal you let get away will be followed by an equally impossibly good deal -- or an even better one.


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