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Am I a "Good Candidate" to own a TS

scottas64

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Hello,

I appreciate the following question may have been asked "a million times" and if so, if you can just direct me to the appropriate thread, that would be greatly appreciated.

My wife and I are new to all things TS. We are currently staying two weeks in Vacation Villages property in Weston, Florida. It belongs to my wife's parents and they can not use it, so we paid this year's maintenance fees and thought we would give it a try. It appears to be more expensive than expected by the time you add up maintenance fee, fee for rolling over expiring points, RCI membership fee, exchange fee, and fee because we aren't the owners. Happy to put $ figures to all those if interested. Anyways, here is our question(s):

1 - What kind of "vacationer" is the best fit for a timeshare? My wife and I are really the "lets do it again" type - we like to explore different places when we vacation.

2 - Are TS's for the advanced planner( 12-18 months out) or the "lets do that next month" type of vacation people (we're the latter)?

3 - If we like to take people with us (family/friends) does that work well for TS owners?

4 - The people on TUG are obviously keenly knowledgeable and well researched on TSs. Does one have to be an expert student of the TS world to get value out of ownership.

5 - Is there any reason to consider taking over parents TS as they no longer see themselves doing much travel due to age and health?

This turned out to be more than I expected but thank you in advance for reading and especially answering if your time permits. Sorry the questions are so general, but we are just peeling back the first layer of the onion. Cheers K&S
 

slip

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Here are the questions you can answer to see if you are a good candidate.


1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?

3) What are your 5 top trade destinations?

4) How many people do you usually travel with - total, including yourself?

5) Can you travel any time, or are you locked into the school schedule?

6) Can you make firm plans 12 or more mos. in advance?

7) Can you vacation for a full week at a time?

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?

9) How much can you afford to spend upfront, without financing?

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?

11) Are you a detail oriented planner?

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
 

slip

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scottas64

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Here are the questions you can answer to see if you are a good candidate. Thanks so much for the reply & list. Hope answers give you a sense of where we are at in our thought process.


1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? We live in the North & We are investigating semi retirement - any work can be done remotely, gonna try stays of 1 month
Scenario 1: Jan- 4 wks global, Feb-4 wks SE USA, Mar-4 wks SW USA, 4 weeks/yr other locations.
2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Don't have home resort - assume we will be seeking out different places 75% of the time

3) What are your 5 top trade destinations? WARM and WATER

4) How many people do you usually travel with - total, including yourself? 2

5) Can you travel any time, or are you locked into the school schedule? not on schedule, pretty much anytime travels and last minute is fine, April-Nov most likely at "home base"

6) Can you make firm plans 12 or more mos. in advance? Not usually our thing but can if we need to; we like good value

7) Can you vacation for a full week at a time? prefer longer vacations

8) What level of accommodations do you prefer on a scale of 1 to 5 stars? we are envisioning 700+ sq feet; with kitchen; 1 bdrm w king; clean & 70% updated; functional over fancy

9) How much can you afford to spend upfront, without financing? Were comparing more to what TS would look like vs say AirBnB type rentals at 1 month shots

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? yes

11) Are you a detail oriented planner? yes

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? yes, seems like a CON but I see us going south every yr for long time
 

slip

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Hello,

I appreciate the following question may have been asked "a million times" and if so, if you can just direct me to the appropriate thread, that would be greatly appreciated.

My wife and I are new to all things TS. We are currently staying two weeks in Vacation Villages property in Weston, Florida. It belongs to my wife's parents and they can not use it, so we paid this year's maintenance fees and thought we would give it a try. It appears to be more expensive than expected by the time you add up maintenance fee, fee for rolling over expiring points, RCI membership fee, exchange fee, and fee because we aren't the owners. Happy to put $ figures to all those if interested. Anyways, here is our question(s):

1 - What kind of "vacationer" is the best fit for a timeshare? My wife and I are really the "lets do it again" type - we like to explore different places when we vacation.

2 - Are TS's for the advanced planner( 12-18 months out) or the "lets do that next month" type of vacation people (we're the latter)?

3 - If we like to take people with us (family/friends) does that work well for TS owners?

4 - The people on TUG are obviously keenly knowledgeable and well researched on TSs. Does one have to be an expert student of the TS world to get value out of ownership.

5 - Is there any reason to consider taking over parents TS as they no longer see themselves doing much travel due to age and health?

This turned out to be more than I expected but thank you in advance for reading and especially answering if your time permits. Sorry the questions are so general, but we are just peeling back the first layer of the onion. Cheers K&S

A points timeshare may work for you. Otherwise, since you won't be going to the same place, you would have to exchange and then it's hard to get exchanges lined up for weeks at a time.

Others will chime in but look at Wyndham, Worldmark, Hilton or Marriott points and see if the locations they own would work for you.

ABnB could be cheaper but it's hard to compare apples to apples. One easier thing for timeshares is that if there is an issue you can usually call the front desk and have the issue resolved. That can be difficult with some ABnB's.
 

DaveNV

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Screenshot 2023-02-13 at 7.17.47 PM.png


As I read that, you're expecting to spend 16 weeks a year in timeshares? Most timeshare ownerships are a week or so, points ownerships maybe more. It'd take a fair amount of investing to get enough to spend 16 weeks in timeshares. Then, adding in exchange costs and such, presuming there is the availability you want, you're going to need to be a right smart planner.

Timesharing is not what it used to be. There was a time when owning a timeshare meant you could stay at your home resort, or change that time to go someplace else. In recent years, as resort owners have started to rent out their extra availability, and as exchange costs and options have reduced, it's harder to get those great exchanges - and when they do come up, they're for a week at a time. You'll be hard pressed to get your money's worth out of this sort of travel plan.

As to whether it's smart to take over your parent's timeshare ownership - that depends on what they own, and whether you want to take on that responsibility. It may be worth it but maybe not. Does it provide anything close to what you're thinking you'd like to do? If not, it may become an albatross around your neck you won't want to deal with. Might be better to let it go to someone else.

Dave
 

Patri

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You might be better off just renting for a month in each location. Skip the hassle of purchasing, scheduling, maintenance fees and trade fees and sometimes resort fees, and then owning units you will eventually need to sell or give away. There are plenty of vacation homes to stay at in the winter. Monetarily you might break even.
 

noreenkate

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Just a small suggestion…before you decide on anything take the in-laws unit for a full test drive for the year…learn there system, learn how it works in RCI what’s exchanging look like, what constantly shows up in last call & extra vacations.

with my family rather than them taking on thier own timeshares - we settled on purchasing the 5 year RCI guest pass…
 

geist1223

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If you want to schedule only 60 days in advance you will be mainly off season and left overs. I do not think you are Timeshare type folks.
 

2rebecca

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I second @noreenkate suggestion. Don't take over ownership of your inlaws timeshare yet, but see if you can use it for 1-3 years. During that time, you pay the maintenance fees & RCI fees. You reserve a week, deposit it into the exchange company, and put in a request or do manual searches. If after a couple of years, you find it works for you, you can take over ownership. If it doesn't work, don't take it over. Save yourself the headache of trying to sell/give it to someone else.

Will a timeshare work well for someone who likes to plan things last minute?? Well, that depends. Do you like to throw a dart at a map to decide where you want to go? Or, do you wake up one morning and decide you want to go to Key West in January and no other destination will do? If it is the latter, a timeshare probably isn't a good fit.

We frequently take my parents on vacation with us, so I'd say timeshares work out well for bringing friends/family. That said, there is always the story about folks who upgraded to a larger room and then the friends/family backout last minute because they don't have any money on the line!

I've had my timeshare for 20 years. It has worked well for me, but it was much easier to use in the early years. Some of that is because we didn't have kids when we first got it and now we are tied to a school schedule. I think it is also harder because of all the mergers between the big players.
 

jwalk03

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I think the answer to planning is key. The happiest timeshare owners are those than can plan 10, 12, 13 months in advance (depending on the particular system you own). Those that wait till a month or two in advance are often the most unhappy timeshare owners because all of the prime options are booked up and the leftovers of Branson, Williamsburg, Orlando, etc. are all that's available. If you can travel in the off season you may have some success as a last minute traveler, but if you are primarily tied to a school schedule you HAVE to plan in advance.
 

DaveNV

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You have to normalize your expectations. If your current experience with all the fees and such to use your in-law's timeshare seems high, it'd be much the same if you were the owner. Other than a guest certificate fee, those other costs are what an owner would likely pay.

I just noticed the "Let's do that next month" comment about planning. There is no way under the sun you'd reliably get to the resorts you want to go to on that sort of schedule. You'd be needing to book well before that. (I just coordinated a timeshare booking in Hawaii for May of 2025, so I can get the prime location I'm after.) If you aren't able to plan a year or more in advance, you will not get the good stuff.

I second @geist1223 comment: It doesn't look like you're the successful timeshare owner type.

Dave
 

jmhpsu93

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I just noticed the "Let's do that next month" comment about planning. There is no way under the sun you'd reliably get to the resorts you want to go to on that sort of schedule. You'd be needing to book well before that. (I just coordinated a timeshare booking in Hawaii for May of 2025, so I can get the prime location I'm after.) If you aren't able to plan a year or more in advance, you will not get the good stuff.

I second @geist1223 comment: It doesn't look like you're the successful timeshare owner type.

Dave

I "third" it. That's the deal breaker...not being able to plan in advance. Sure you can do it that way and still enjoy your ownership, but you'll be disappointed more often than not.

I'm also in the planning stages for 2025 right now.
 

noreenkate

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You have to normalize your expectations. If your current experience with all the fees and such to use your in-law's timeshare seems high, it'd be much the same if you were the owner. Other than a guest certificate fee, those other costs are what an owner would likely pay.

I just noticed the "Let's do that next month" comment about planning. There is no way under the sun you'd reliably get to the resorts you want to go to on that sort of schedule. You'd be needing to book well before that. (I just coordinated a timeshare booking in Hawaii for May of 2025, so I can get the prime location I'm after.) If you aren't able to plan a year or more in advance, you will not get the good stuff.

I second @geist1223 comment: It doesn't look like you're the successful timeshare owner type.

Dave
Unless your like me and have no problems heading out to “over saturated areas” -
i use my timeshares to get me to specific locations that require planning Sedona ect…than the exchange companies bonus/AC/last call/getaways ect - for always available Vegas, Williamsburg and even were you just were in Weston ect…
Branson, Williamsburg, Orlando,
 

PcflEZFlng

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I agree with the others. It doesn't seem timeshares would be a fit for you. Even in my case, able to go any time of the year, planning 5-6 months ahead and staying in timeshares in the off-season, I got rid of my ownerships and now only rent. The expense, hassle, and unavailability when occasionally trying to trade into a higher season wasn't worth it.
 

geist1223

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We are Booked through February 2024 and planning done through Fall 2024.
 

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I'm going to go against the grain here and say yes you sound like a good candidate for a used timeshare.

I would agree with the others: use your parents timeshare and exchange account for a few years to get the hang of things. Timeshare resales rarely disappear for good. You can most likely buy into what you want in a few years time at a similar price to what you see now.

Your key advantage is your flexibility and travel dates. Jan and Feb, if you're looking just for sun and sand, aren't really high season, except for the week of President's Day. Skiing is another matter of course. March is probably not as easy because you start getting into Spring Break, but since you're flexible on location, you'll find something (Orlando generally has a lot of availability).

Your best friends will be last minute deals on the exchanges. So I'd definitely keep an eye on those while using your parents' account. Since you prefer "functional over fancy" and you're looking to book for long chunks of time I'd also look into Wyndham and Worldmark. Idk how much AirBnB costs, and you can probably find cheaper sublets on Craigslist and such, but if you like low hassle and don't mind paying 3K or more a month (WM you can probably do a 1bdrm for 3K a month in a lot of places) you should be able to find some nice vacations.

Also, given the number of months you're talking about vacationing (4/12) it shouldn't necessarily be either/or. You can search for good AirBnB or sublet deals + have some timeshare points for when you can't + find some great last minute deals on the exchanges.
 

CaliSunshine

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One other thing I'd add: in addition to "can you make plans in advance" there's another related question: "how much anxiety would you have with uncertain plans?" In your situation, I myself, for example, wouldn't be too worried if let's say I had booked one week but wasn't quite sure yet where I would be staying for the following week. I'm on vacation: worst case I book a hotel or switch to a different city or find something on craigslist or even fly home. But for other people, like my wife, it might be extremely anxiety invoking to be in that type of situation.

For me, part of the fun of being on vacation is the spontaneity. But it's not for everyone.
 

scottas64

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A points timeshare may work for you. Otherwise, since you won't be going to the same place, you would have to exchange and then it's hard to get exchanges lined up for weeks at a time.

Others will chime in but look at Wyndham, Worldmark, Hilton or Marriott points and see if the locations they own would work for you.

ABnB could be cheaper but it's hard to compare apples to apples. One easier thing for timeshares is that if there is an issue you can usually call the front desk and have the issue resolved. That can be difficult with some ABnB's.
Thanks for the feedback.... think we are going to try it out for a bit.
 

scottas64

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View attachment 73069

As I read that, you're expecting to spend 16 weeks a year in timeshares? Most timeshare ownerships are a week or so, points ownerships maybe more. It'd take a fair amount of investing to get enough to spend 16 weeks in timeshares. Then, adding in exchange costs and such, presuming there is the availability you want, you're going to need to be a right smart planner.

Timesharing is not what it used to be. There was a time when owning a timeshare meant you could stay at your home resort, or change that time to go someplace else. In recent years, as resort owners have started to rent out their extra availability, and as exchange costs and options have reduced, it's harder to get those great exchanges - and when they do come up, they're for a week at a time. You'll be hard pressed to get your money's worth out of this sort of travel plan.

As to whether it's smart to take over your parent's timeshare ownership - that depends on what they own, and whether you want to take on that responsibility. It may be worth it but maybe not. Does it provide anything close to what you're thinking you'd like to do? If not, it may become an albatross around your neck you won't want to deal with. Might be better to let it go to someone else.

Dave
I think you are correct, can't see buying that many timeshares... probably a combination of both. That said, we are starting to experience what you are saying... seems like most of the well rated places are tough to get. I think one of our biggest eye openers is that there really isn't much available (we though it would be the opposite. Are people now just renting out their TS themselves and bypassing the RCI and II option? Thanks again for responding.
 

Passepartout

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Thanks for the feedback.... think we are going to try it out for a bit.
I tend to agree with others that say your desire for 'last minute' getaways is the deal killer, I applaud your giving TS a try, just be sure you have an easy way out. TSs are a LOT easier to acquire than to divest.
 

scottas64

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I'm going to go against the grain here and say yes you sound like a good candidate for a used timeshare.

I would agree with the others: use your parents timeshare and exchange account for a few years to get the hang of things. Timeshare resales rarely disappear for good. You can most likely buy into what you want in a few years time at a similar price to what you see now.

Your key advantage is your flexibility and travel dates. Jan and Feb, if you're looking just for sun and sand, aren't really high season, except for the week of President's Day. Skiing is another matter of course. March is probably not as easy because you start getting into Spring Break, but since you're flexible on location, you'll find something (Orlando generally has a lot of availability).

Your best friends will be last minute deals on the exchanges. So I'd definitely keep an eye on those while using your parents' account. Since you prefer "functional over fancy" and you're looking to book for long chunks of time I'd also look into Wyndham and Worldmark. Idk how much AirBnB costs, and you can probably find cheaper sublets on Craigslist and such, but if you like low hassle and don't mind paying 3K or more a month (WM you can probably do a 1bdrm for 3K a month in a lot of places) you should be able to find some nice vacations.

Also, given the number of months you're talking about vacationing (4/12) it shouldn't necessarily be either/or. You can search for good AirBnB or sublet deals + have some timeshare points for when you can't + find some great last minute deals on the exchanges.
This seems very insightful and I think you are picking up the sense of what we are trying to do. You are exactly right, wife is focusing on the Last Call and 10K deals. Also, you're right - don't see this as an either/or scenario. We'll have to do some mix and matching. Thanks again for the reply :)
 

scottas64

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I tend to agree with others that say your desire for 'last minute' getaways is the deal killer, I applaud your giving TS a try, just be sure you have an easy way out. TSs are a LOT easier to acquire than to divest.
Amen - thanks for the reinforcement. At this point, can't see us owning unless we find the place we want to frequent every year.... and get it resale LOL. Thanks for responding. :)
 
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