Sold the RV, the Timeshare is next…

[jp10558]

Bill, you've always been smart about your ownerships. In my household, having both hit retirement age, and with a greatly reduced income, financial management has become key. Divesting ourselves of timeshares we weren't able to use properly was the smart move. Renting back from owners when we do want a timeshare stay is proving a valid option for us. Between us, we're illustrating the value in resale acquisition, and intelliigent usage.



Dave

Yea, I agree - you have to do TS right. If I wasn't able to WFH (from wherever) I'd have to divest TS toot suite cause it'd become pretty hard to use as much as I now own. I'd probably keep one - and agonize over between HGVC and Wyndham, probably going Wyndham as wider use living on the east coast... for that and RCI, but I'd be back down to one to two weeks a year being reasonable to use. I hope I can keep my setup for a while though.

 

[Timeshare Von]

Bill, you've always been smart about your ownerships. In my household, having both hit retirement age, and with a greatly reduced income, financial management has become key. Divesting ourselves of timeshares we weren't able to use properly was the smart move. Renting back from owners when we do want a timeshare stay is proving a valid option for us. Between us, we're illustrating the value in resale acquisition, and intelliigent usage.



Dave

Well said . . . and exactly how I view the evolution of timeshare ownership. For about 10 years we were in acquisition mode too (2002-2012) but then facing retirement and a change in vacationing habits, it was clear we didn't want the financial burden. The BEST thing about timesharing, besides the awesome vacations, has been the friendships & connections made . . . especially through TUG.

 

[Timeshare Von]

Yea, I agree - you have to do TS right. If I wasn't able to WFH (from wherever) I'd have to divest TS toot suite cause it'd become pretty hard to use as much as I now own. I'd probably keep one - and agonize over between HGVC and Wyndham, probably going Wyndham as wider use living on the east coast... for that and RCI, but I'd be back down to one to two weeks a year being reasonable to use. I hope I can keep my setup for a while though.

Wyndham was the last I divested myself from as well, and for similar logic as you. That said, trading in RCI had gotten so darn expensive, when you add the MF + Exchange Fee . . . a week "away" became far more expensive than trying to rent from another owner (or even RCI).

 

[Timeshare Von]

One more thing that I tracked as I started my timeshare acquisitions in 2002, was how I utilized each timeshare ownership. My spreadsheet helped me to understand "the value" of timesharing . . . and as use was projected to wane (especially when traveling for work and having my employer "pay me" for the timeshare expense vs. a hotel) . . . I knew it was time to start winding down because I was probably never going to be able to use all of the timeshare ownership we had. I also found my Hawaii timeshare at Lifetime in Hawaii to be a very versatile ownership in spite of being technically just a studio. With low MF's, I could rent and make a small profit without gauging friends/family and in RCI, when planned correctly, it traded at a very high TPU which most often I could get 3 and sometimes even 4 exchanges for.

 

[DaveNV]

One more thing that I tracked as I started my timeshare acquisitions in 2002, was how I utilized each timeshare ownership. My spreadsheet helped me to understand "the value" of timesharing . . . and as use was projected to wane (especially when traveling for work and having my employer "pay me" for the timeshare expense vs. a hotel) . . . I knew it was time to start winding down because I was probably never going to be able to use all of the timeshare ownership we had. I also found my Hawaii timeshare at Lifetime in Hawaii to be a very versatile ownership in spite of being technically just a studio. With low MF's, I could rent and make a small profit without gauging friends/family and in RCI, when planned correction, it high a very high TPU which most often I could get 3 and sometimes even 4 exchanges for.

My very first timeshare was a measly studio at Kuhio Banyan in Waikiki. Got it for a pittance on eBay. Used the dickens out of it, but only stayed there once. They had many "extra weeks" available the HOA would deposit to RCI for owners, for a fee of like $100 per use week. So I got many extra deposits in RCI for the first few years. Pre-TPU, it even got me to the Manhattan Club in NYC. The RTU period expired and they revamped things, so I gave it back to them, since I'd moved on to better timeshares. Those little Easter egg timeshares are out there. You and I both owned one.

My goal from the outset with timesharing was to get in affordably, and get out before it became a burden. I bought inexpensively on the resale market, used things to my satisfaction, then passed things along inexpensively or for free to a happy new owner who wanted it. All told, it's been a very positive experience for me since the early 2000s. Now that I'm renting, my positive experience continues, and I'm able to help current owners who choose to rent out what they own. I'm good with that.

Dave

 

[dragonpatt]

55 years of various forms of camping, from leaky tents (20 years) to three trailers and two RVs. Some which also had various problems.
We decided at this point it’s easier to stay in hotel.
Our one TS unit is a tiger trader, although RCI doesn’t make it easy. We’ve now gone every where we wanted and I look thru the directory and nothing talks to me. Florida’s storms took care of the nice ones along the Gulf.
It’s time to say goodbye to that too.

I currently have 5 weeks of TS (bought first one in 1981) and it's too much to keep up with! We really need to say goodbye to at least 3 weeks. I don't know how to go about it, so I hope you'll share your experiences with selling yours. Thanks!

55 years of various forms of camping, from leaky tents (20 years) to three trailers and two RVs. Some which also had various problems.
We decided at this point it’s easier to stay in hotel.
Our one TS unit is a tiger trader, although RCI doesn’t make it easy. We’ve now gone every where we wanted and I look thru the directory and nothing talks to me. Florida’s storms took care of the nice ones along the Gulf.
It’s time to say goodbye to that too.

 

[dragonpatt]

I hear you, loud and clear. I sold my last timeshare two years ago. Now I travel as far and wide as I want to, without obligation. But to keep my hands in it, I'm renting two timeshares from Tuggers this year. (Yellowstone and Hawaii.) So the adventures continue.

Dave

This sounds like something I'd like to do. I need to sell some of our timeshare weeks. We bought our first in 1981 and currently have 5 weeks, which is too many for us now that we're older and retired-- we really need to say goodbye to at least 3 weeks. I don't know how to go about it and found TUG while searching for a solution. Could you please share with me how/where you sold yours? Also, how do you rent other Tuggers weeks? --maybe I could do that (rent mine)? Any leads/help/ advice would be truly welcome! Thanks!

 

[DaveNV]

This sounds like something I'd like to do. I need to sell some of our timeshare weeks. We bought our first in 1981 and currently have 5 weeks, which is too many for us now that we're older and retired-- we really need to say goodbye to at least 3 weeks. I don't know how to go about it and found TUG while searching for a solution. Could you please share with me how/where you sold yours? Also, how do you rent other Tuggers weeks? --maybe I could do that (rent mine)? Any leads/help/ advice would be truly welcome! Thanks!

Search the forums on Tug. There are many posts and stickies at the top of forums about how to sell your timeshare. There is no single answer. Keep digging. This site is huge, and the advice is invaluable.

The one hard and fast rule: Do not fall for the promises of up-front fee companies who promise to "get you out of your timeshare." They are financial scammers who will take your money, and give you nothing but grief. If you own quality timeshares, some have some resale value. Others, not so much. You need to do some research, and honestly assess what you own, and what it's worth to a new owner.

Start here: https://tugbbs.com/forums/forums/buying-selling-renting-timeshares.13/

Good luck!

Dave

 

[Timeshare Von]

This sounds like something I'd like to do. I need to sell some of our timeshare weeks. We bought our first in 1981 and currently have 5 weeks, which is too many for us now that we're older and retired-- we really need to say goodbye to at least 3 weeks. I don't know how to go about it and found TUG while searching for a solution. Could you please share with me how/where you sold yours? Also, how do you rent other Tuggers weeks? --maybe I could do that (rent mine)? Any leads/help/ advice would be truly welcome! Thanks!

It all depends on what you own and where. PLUS you must be realistic about what "value" yours may have . . . many/most have none. Of all that I got rid of, 3 ended up being deed backs to the POA/HOA or the developer and only one was sold here on TUG.

As for renting to or from other TUGGERS, there is a forum here for TUG members to list/rent/buy. If you're not a member of TUG (vs. just these free forums) . . . spend the $15 to join. It will be the best money you'll EVER spend on timeshare ownership.

 

[WinniWoman]

To each his own, of course, but camping and RVing never appealed to me though I love the outdoors, but also like comfort. For me who wanted to go on a vacation to work? I needed a vacation from work! lol!

Timeshare resorts worked perfectly for our style of travel. We liked hunkering down in one place for a week and exploring from there by car.

After 22 years we did divest of our main timeshare, but still visit that area renting a timeshare condo or at a condo resort. ( last year we stayed in a log cabin resort in that area).

Yes it’s more expensive compared to the maintenance fees but it frees us up of the obligation now that we are older.

We did keep our other one week timeshare less than an hour from our home and it’s easy peasy for a change of atmosphere in the summer.

Plus we have day use which we like in the winter months especially when we want to hit the hot tubs, swim in the indoor heated pool and hang a bit in the sauna or even use the gym.

And we got this one for free and never exchange it so no exchange company fees and hassles.

Not to mention where we live now is like living at a timeshare resort. Always feel like we are on vacation!

 

[WinniWoman]

I hear you, loud and clear. I sold my last timeshare two years ago. Now I travel as far and wide as I want to, without obligation. But to keep my hands in it, I'm renting two timeshares from Tuggers this year. (Yellowstone and Hawaii.) So the adventures continue.

Dave

We did that years ago for our Yellowstone and Hawaii vacations.