How does a timeshare save me money?

[AwayWeGo]

Luxury Vacation Accommodations At Motel 6 & Super 8 Rates.

So I don't feel like going to a TS presentation to hear the "glorious" ways TSing can save me money. I can think of a few, but hear me out on why I am hesitant to see the value in TSing.

If you go to any of those high-pressure, arm-twisting, guilt-tripping, psychologically manipulative timeshare sales presentations, you'll learn lots more about BSing than about TSing.

Nothing the timeshare companies sell at full freight -- zero, zip, zilch, zorch, nil, null, nada, not anything -- is worth the money.

We're big fans of PriceLine ourselves -- The Chief Of Staff & her sister stayed in an outstanding NYC 3½-star PriceLine hotel just this past weekend & everybody had a great time. By Naming Their Own Price, they got a great rate -- but it was way more than $44 per night.

In fact PriceLine has always been pretty much a crapshoot, even though we have snagged some outstanding PriceLine bargains. For most PriceLine hotels, however, our result has been a nice or extremely nice hotel room at rates ranging between OK & fabulously el cheapo.

Best PriceLine reservation we ever got was StayBridge Suites, Jacksonville FL, for $25 per night in March 2009. Suite was more like a large 1BR timeshare than a hotel room. The daily free breakfasts were way better than Pop Tarts & Tang.

That was exceptional. On PriceLine we usually get something in Jacksonville more along the lines of Extended Stay America for approximately $33 nightly.

By contrast, for our approximately $850 per week Orlando FL timeshare, we get a super-nice 3BR-3BA condo with 2 master suites, 2 kitchens (1 full, 1 mini), large living-dining room, on-site recreational facilities, great Orlando location, the whole 9 yards. We did not buy that from a timeshare company. We got it for nickels on the full-freight dollar via eBay. That was in 2003. Today, they're going for even less on eBay (when you can find 1, that is -- it's just a small resort), & plenty more of units of comparable size & quality at other Orlando timeshares are plentiful on eBay & other resale outlets.

Whether you get your timeshares el cheapo or even el freebo, however, the true cost of timeshare vacationing is those ongoing mandatory annual fees that you have to pay year in & year out. We consider the cost reasonable for what we get -- but lately we've been renting out our timeshare(s) for more than the annual cost to us & using the difference to snag outstanding RCI Last Call & Instant Exchange reservations at other people's timeshares.

It works for us & we much prefer timeshare vacations even to PriceLine vacations -- but that doesn't mean timeshares will be everybody's cup of tea.

It's lots easier to buy timeshares than to sell'm, so it's a good idea not to buy any (no matter how good the deals are) till you're sure you're good & ready for the ongoing commitment to pay those annual fees.

Good luck.

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

 

[shifty1981]

Thanks. I'm wondering about one strategy:

Find the cheapest purchase price and cheapest MF TS available (even in junk weeks) solely for the purpose of being able to do getaways or last minute deals. Is this a bad strategy? Can it work?

Some timeshares can be reserved 2 years out (we have Kauai booked for 2011 already) and you can make exchanges 2 years out as well.

As you get older and get more established in a career, it gets easier to plan in advance. Part of it is just getting into the habit of advanced planning. I am a teacher so my time off is set in stone, and with DH's company, he can ask for his vacations on Jan. 1 of each year. So by Jan. 1 of every year, we have our plans in place, and my DH puts in the request the first day possible. That way he beats out all the less-well organized employees.

If you end up in a career where that doesn't happen, then the last minute Getaways on II would work well for you and they are very inexpensive.

 

[Talent312]

Some folks are seriously addicted to all those "luxuries" that are not a necessity for travel. They would never voluntarily go back to hotel rooms. For them, its not only about accomodating friends and families, but also QOS (quality of stay).

I am not one of those who think that its the "only" way to travel. Like you, I didn't see the purpose. But I have found it rather useful. I sort'a stumbled into it thru a hotel-based point system (Hilton a/k/a HGVC) in which there's a great flexibility about how to use one's points. This year, for example, I'll be spending a few weekends at a TS in Orlando, a week at a TS on Longboat Key, and about 10 days in Hilton Hotels in and round DC, all for no more than the MF's.

I think its good to have it as an option in one's travel arsenal.

 

[shifty1981]

Thanks for the reply.

I'm curious though if you're doing the Priceline strategy where you find out what the cheapest price is and bid that, rather than guess and you guarantee the star rating or better that you want. Or are you just winging it? The only "crapshoot" thing that I've found with my strategy is knwoing which hotel you'll get, but when I ensure a star rating near where I need to be, then I'm not concerned.

Being the deal-finder myself, I'm curious if you just fell into a timeshare that could be rented out for "profit" or you knew what to look for. This is definitely a way to TS and save money. Use the profit to pay for other trips and avoid yearly MFs.

We're big fans of PriceLine ourselves -- The Chief Of Staff & her sister stayed in an outstanding NYC 3½-star PriceLine hotel just this past weekend & everybody had a great time. By Naming Their Own Price, they got a great rate -- but it was way more than $44 per night.

In fact PriceLine has always been pretty much a crapshoot, even though we have snagged some outstanding PriceLine bargains. For most PriceLine hotels, however, our result has been a nice or extremely nice hotel room at rates ranging between OK & fabulously el cheapo.

Best PriceLine reservation we ever got was StayBridge Suites, Jacksonville FL, for $25 per night in March 2009. Suite was more like a large 1BR timeshare than a hotel room. The daily free breakfasts were way better than Pop Tarts & Tang.

That was exceptional. On PriceLine we usually get something in Jacksonville more along the lines of Extended Stay America for approximately $33 nightly.

By contrast, for our approximately $850 per week Orlando FL timeshare, we get a super-nice 3BR-3BA condo with 2 master suites, 2 kitchens (1 full, 1 mini), large living-dining room, on-site recreational facilities, great Orlando location, the whole 9 yards. We did not buy that from a timeshare company. We got it for nickels on the full-freight dollar via eBay. That was in 2003. Today, they're going for even less on eBay (when you can find 1, that is -- it's just a small resort), & plenty more of units of comparable size & quality at other Orlando timeshares are plentiful on eBay & other resale outlets.

Whether you get your timeshares el cheapo or even el freebo, however, the true cost of timeshare vacationing is those ongoing mandatory annual fees that you have to pay year in & year out. We consider the cost reasonable for what we get -- but lately we've been renting out our timeshare(s) for more than the annual cost to us & using the difference to snag outstanding RCI Last Call & Instant Exchange reservations at other people's timeshares.

It works for us & we much prefer timeshare vacations even to PriceLine vacations -- but that doesn't mean timeshares will be everybody's cup of tea.

It's lots easier to buy timeshares than to sell'm, so it's a good idea not to buy any (no matter how good the deals are) till you're sure you're good & ready for the ongoing commitment to pay those annual fees.

Good luck.

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

 

[DaveNV]

Another thought: If your idea of timesharing is strictly to exchange to somewhere else, you'll probably find the best bang for the buck is to rent what and where you want. That gives you the greatest flexibility.

Buying to exchange is rarely a good deal, when you factor in the extra fees involved to exchange your week. And given the exchange companies' reputation for skimming off the best weeks to fill their rental pool, you may end up "settling" for an exchange you don't really want, but feel compelled to accept because there is nothing better offered to you.

On the other hand, if your goal is to stay where you own, then owning ends up giving you the best deal, in my opinion.

It all depends on what your travel goals are.

Dave

 

[shifty1981]

You bring up a strategy that I considered using TS's for. short trips. There are many times when I need a hotel. Holiday's, funerals (unfortunately), long weekends, etc. That's why I wondered if getting a TS that was points eligible and last-minute-trips eligible would be good because then I could split up the days at the TS and have nice places to stay for shorter periods. I remember one TS salesman telling me I could break a week long TS into 2, 2-day trips and 1 3-day trip.

Some folks are seriously addicted to all those "luxuries" that are not a necessity for travel. They would never voluntarily go back to hotel rooms. For them, its not only about accomodating friends and families, but also QOS (quality of stay).

I am not one of those who think that its the "only" way to travel. Like you, I didn't see the purpose. But I have found it rather useful. I sort'a stumbled into it thru a hotel-based point system (Hilton a/k/a HGVC) in which there's a great flexibility about how to use one's points. This year, for example, I'll be spending a few weekends at a TS in Orlando, a week at a TS on Longboat Key, and about 10 days in Hilton Hotels in and round DC, all for no more than the MF's.

I think its good to have it as an option in one's travel arsenal.

 

[DeniseM]

Thanks. I'm wondering about one strategy:

Find the cheapest purchase price and cheapest MF TS available (even in junk weeks) solely for the purpose of being able to do getaways or last minute deals. Is this a bad strategy? Can it work?

I would not buy a TS I didn't want to use. Remember - you are responsible for the MF no matter what and once you get it, you may not be able to get rid of it - especially a junk week.

 

[DeniseM]

Thanks for the reply.

I'm curious though if you're doing the Priceline strategy where you find out what the cheapest price is and bid that, rather than guess and you guarantee the star rating or better that you want. Or are you just winging it? The only "crapshoot" thing that I've found with my strategy is knwoing which hotel you'll get, but when I ensure a star rating near where I need to be, then I'm not concerned.

There are 2 websites where people post winning bids and they also have hotel lists for most areas: www.betterbidding.com and www.biddingfortravel.com

As you know, you can't chose your hotel, but these websites list the hotels in each zone/Star quality, so you know in advance what hotels are in the group you bid on.

Being the deal-finder myself, I'm curious if you just fell into a timeshare that could be rented out for "profit" or you knew what to look for. This is definitely a way to TS and save money. Use the profit to pay for other trips and avoid yearly MFs.

I would not buy to rent right now. Because of the economy, the rental market is really depressed. In fact, I just gave away a 2 bdm. rental in Hawaii for Easter week, because I couldn't rent it at any cost. I didn't even get any offers and I had it widely advertised since Sept.

 

[shifty1981]

Thanks. I know those sites. I do what they do, but for myself.

As for buying to rent, let's talk a better market. Perhaps there economy is good. How would you seek out that type of TS or would you just get lucky and not buy with that intention?

There are 2 websites where people post winning bids and they also have hotel lists for most areas: www.betterbidding.com and www.biddingfortravel.com

As you know, you can't chose your hotel, but these websites list the hotels in each zone/Star quality, so you know in advance what hotels are in the group you bid on.



I would not buy to rent right now. Because of the economy, the rental market is really depressed. In fact, I just gave away a 2 bdm. rental in Hawaii for Easter week, because I couldn't rent it at any cost. I didn't even get any offers and I had it widely advertised since Sept.

 

[aliikai2]

There are some Gems around

that trade well and have low annual fees, that would get you 2 weeks per year in nice resorts for under $450 per week.

But in all honesty, if you are only focused on saving money, it is hard to beat what you are doing.

We have a couple of ownerships that a weeks use costs us under $300, in some very nice units. But these are hard to find and take some time to manage in order to get the week(s) we want during prime season.

jmho,

Greg

 

[geekette]

Great tips.

Hadn't thought about the multiple people one as it's just been the two of us so far. That will definitely change. And if we can stand any of our friends it could change now!

Don't quite understand the 2 year planning thing. How does that save $$? Also how do you book 2 years out when (A) are TS's available that far in advance? and (B) how can you know what life will bring (job change, health issue, major loss of disposable income). My boss can barely give me the OK for vacation 2 months out.

Planning in advance locks in the cost, no surprises, no inflation. If I were to wait until 2 months out (BOOOO for your boss!) there could no availability where I want to go, or I'd have to settle for way above or way below what I was looking for, not the location I wanted (living in a landlocked state, no way I'm travelling all the way to the ocean and not be ON the ocean), could have to pay a premium to get it because so little supply. So far in advance, there aren't too many people competing for same place, same time.

some people can plan in advance, some can't. could be timesharing won't work for you if 2 months is as far out as you can plan. Really, this is not like hotelling - there really could be no availability or only parking lot view studio or other "not what I had hoped" outcomes.

That's really an aspect to give some thought to. It could be a giant disappointment for you which prob'ly wouldn't be offset by savings. People generally ask their family, Where do you want to go? instead of, here's what there is, which should we take? Big Difference.

 

[shifty1981]

Yeah, I figured it was possible as my friend just went to a really nice resort in FL for $290 for the week. Then again it was a deal he saw advertised since he was already an owner. If only non TS owners could participate

that trade well and have low annual fees, that would get you 2 weeks per year in nice resorts for under $450 per week.

But in all honesty, if you are only focused on saving money, it is hard to beat what you are doing.

We have a couple of ownerships that a weeks use costs us under $300, in some very nice units. But these are hard to find and take some time to manage in order to get the week(s) we want during prime season.

jmho,

Greg

 

[shifty1981]

Yeah I'll have to talk to "the man" about planning that far in advance.

Planning in advance locks in the cost, no surprises, no inflation. If I were to wait until 2 months out (BOOOO for your boss!) there could no availability where I want to go, or I'd have to settle for way above or way below what I was looking for, not the location I wanted (living in a landlocked state, no way I'm travelling all the way to the ocean and not be ON the ocean), could have to pay a premium to get it because so little supply. So far in advance, there aren't too many people competing for same place, same time.

some people can plan in advance, some can't. could be timesharing won't work for you if 2 months is as far out as you can plan. Really, this is not like hotelling - there really could be no availability or only parking lot view studio or other "not what I had hoped" outcomes.

That's really an aspect to give some thought to. It could be a giant disappointment for you which prob'ly wouldn't be offset by savings. People generally ask their family, Where do you want to go? instead of, here's what there is, which should we take? Big Difference.

 

[shifty1981]

I wonder how many TSers actually grocery shop and cook often enough to save $$ vs eating out.

 

[DaveNV]

I wonder how many TSers actually grocery shop and cook often enough to save $$ vs eating out.

We enjoy eating out, but not every meal. Spouse is diabetic, so eating on a schedule is pretty important. Having the ability to cook meals if/when we want is way better than trying to find a place to eat early or late in a strange town.

We tend to do a fair amount of activities when we vacation, so we need to be able to eat something at odd hours. Restaurants aren't always available when we want them.

It's that word "option" again. Having the choice, as opposed to having no choice.

Dave

 

[dchilds]

How do you plan your vacations?

Shifty,

Do you have a normal procedure for planning a vacation?

Do you book flights first based on best airfare, and then book a hotel, or the hotel room first, and then buy the airfare for the dates booked?

By owning fixed week timeshares, or by reserving a floating week far in advance, you can start watching for low airfares 11 months out.

We own some Colorado ski timeshares, and I've never seen a week in a hotel in Vail, or even within 20 miles of Vail, during ski season for less than $550/week. By just having 4 people eat breakfast in a timeshare, we save at least $20/day, but probably more like $40/day. Each dinner can save us $15+/person/day. We don't bring our lunches, but I have a friend that saves about $40/day for lunches as well.

David

 

[DeniseM]

I wonder how many TSers actually grocery shop and cook often enough to save $$ vs eating out.

We eat most dinners out, but we eat all breakfasts and lunches in, or pack lunches in our unit, to take to the beach etc. It is so convenient to have snacks, fruit, cold drinks, and adult beverages in the TS, and a big savings and convenience not to have to go somewhere every time you want something to eat or drink.

 

[shifty1981]

Yeah, hard to put a dollar value on that word.

We enjoy eating out, but not every meal. Spouse is diabetic, so eating on a schedule is pretty important. Having the ability to cook meals if/when we want is way better than trying to find a place to eat early or late in a strange town.

We tend to do a fair amount of activities when we vacation, so we need to be able to eat something at odd hours. Restaurants aren't always available when we want them.

It's that word "option" again. Having the choice, as opposed to having no choice.

Dave

 

[shifty1981]

Typically we book plane tickets first since those fluctuate value the most we see. Hotel costs don't sway as much once you've picked a date.

Good example. Food savings is between $140 and $420 a week per meal assuming you depending on the meal cost and number of meals. not including the cost of the food of course.

Shifty,

Do you have a normal procedure for planning a vacation?

Do you book flights first based on best airfare, and then book a hotel, or the hotel room first, and then buy the airfare for the dates booked?

By owning fixed week timeshares, or by reserving a floating week far in advance, you can start watching for low airfares 11 months out.

We own some Colorado ski timeshares, and I've never seen a week in Vail during ski season for less than $550/week. By just having 4 people eat breakfast in a timeshare, we save at least $20/day, but probably more like $50/day. Each dinner probably saves us $15+/person/day. We don't bring our lunches, but I have a friend that saves about $40/day for lunches as well.

David

 

[shifty1981]

I'll add that one $$ saver is in long term health costs. Not eating out all time saves your health if you choose to eat healthy when eating in. The savings is in the future, but still there.

We eat most dinners out, but we eat all breakfasts and lunches in, or pack lunches in our unit, to take to the beach etc. It is so convenient to have snacks, fruit, cold drinks, and adult beverages in the TS, and a big savings and convenience not to have to go somewhere every time you want something to eat or drink.

 

[AwayWeGo]

We See What The Going Rate Is On HotWire, Then Try To Beat That On PriceLine.

I'm curious though if you're doing the Priceline strategy where you find out what the cheapest price is and bid that, rather than guess and you guarantee the star rating or better that you want. Or are you just winging it?

Basically we're just winging it, but frequently we play The PriceLine Game by putting in a ridiculously low starting amount, then ratcheting it up $1 at a time till our bid goes through, waiting 24 hours between tries.

That time we snagged StayBridge Suites in Jacksonville FL, we started at $20 per night & upped our bid a buck at a time till PriceLine accepted $25.

We won't bid for anything below 2 stars on PriceLine -- & we won't go below 2½ stars on HotWire.

I'm curious if you just fell into a timeshare that could be rented out for "profit" or you knew what to look for. This is definitely a way to TS and save money. Use the profit to pay for other trips and avoid yearly MFs.

We just lucked into our nice Orlando timeshare -- bought it sight unseen after being wowed at a different Orlando timeshare via high-pressure promotional tour. Afterward, on the way back to the dinky motel where we were staying, we found out about resales via a highway advertising billboard. When we got home, we called the number on the billboard & the rest is history.

If you buy your timeshare(s) resale instead of paying big bux for full-freight timeshare(s), you will be so far ahead of the game that just about everything else is details.

Click here for our (mostly) complete timeshare story -- not necessarily as a pattern to follow, but just simply as the story of how 1 thrifty couple got into luxury timeshare vacationing at Motel 6 & Super 8 rates.

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

 

[shifty1981]

Thanks for the link. I'll give it a ring.

We were lucky. Went to 5 timeshare presentations in Las Vegas mostly for the free show tickets, money and buffet coupons. Loved the idea of TS and bought after much swaying by salesman. He gave us extra "free weeks" which I can't even remember now what those were.

Being the type who reads reviews before buying anything, I quickly looked up this process online and found out about the resale market. I followed all the steps to a T regarding cancelling during our 3 day grace period. Phew! I was so nervous. I still check my credit to this day and keep that mortgage papers in case they say I didn't cancel correctly. Missed a missile there.

Basically we're just winging it, but frequently we play The PriceLine Game by putting in a ridiculously low starting amount, then ratcheting it up $1 at a time till our bid goes through, waiting 24 hours between tries.

That time we snagged StayBridge Suites in Jacksonville FL, we started at $20 per night & upped our bid a buck at a time till PriceLine accepted $25.

We won't bid for anything below 2 stars on PriceLine -- & we won't go below 2½ stars on HotWire.

We just lucked into our nice Orlando timeshare -- bought it sight unseen after being wowed at a different Orlando timeshare via high-pressure promotional tour. Afterward, on the way back to the dinky motel where we were staying, we found out about resales via a highway advertising billboard. When we got home, we called the number on the billboard & the rest is history.

If you buy your timeshare(s) resale instead of paying big bux for full-freight timeshare(s), you will be so far ahead of the game that just about everything else is details.

Click here for our (mostly) complete timeshare story -- not necessarily as a pattern to follow, but just simply as the story of how 1 thrifty couple got into luxury timeshare vacationing at Motel 6 & Super 8 rates.

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

 

[geekette]

I wonder how many TSers actually grocery shop and cook often enough to save $$ vs eating out.

ME. Eating out takes too long. Don't do it at home much either. love to buy fresh seafood and make my own concoctions. like blender drinks. And I actually like cooking in someone elses kitchen (mine at home is tiny with old appliances). We generally will have one restaurant dinner and maybe a fast food lunch here or there.

My spouse is also diabetic. have done the insulin in ice or hauled coolers, etc., and nothing is better than having the space in the door (where you'd put a butter dish) for his insulin and jugs of juice at the ready.

if he crashes in the middle of the night, he can wander out to the kitchen vs turning on lights in the hotel room and rummaging for soemthing to eat.

Gees, there's the other thing - EXTRA ROOMS!!! We are not usually on the same sleep schedule. While I can sleep thru most anything, he can't. so when I get up early, what a PITA it is in a hotel room! I have sat in a bathroom reading since I can't use light or make sound. Big Fat Drag.

not with a ts - I can get up and brew my coffee and enjoy my morning on the balcony, even fix myself breakfast if he still hasn't gotten up. Go get a workout in, walk the grounds, whatever.

And best part is that every time I return, the door to the outside is not in the same room as the bed he's sleeping in.

 

[falmouth3]

Even though you have been very skilled at getting hotel rooms at rock bottom prices, that may not continue as the economy improves. Hotels and other tourism related businesses have really suffered.

One thing that I was surprised to find when I started TSing was that there usually are no additional fees at checkout. No taxes, no nothing. This is not the case in some locations, but for the most part, you give them your keys and say thank you very much.

We eat dinner out every night while on vacation, but we have breakfast and lunch either at the TS or packed in a cooler for our daily adventures. DH likes to drink a lot of Pepsi. Buy a 2 liter bottle for 1.00 - 1.50 and keep it in the fridge versus buying several 20 oz bottles on the road, and you've saved a bundle. It's really nice to have a kitchen for those types of things.

And I really like the ability to go home with clean clothes. Hey, and don't forget those checked bag fees. If you can wash your clothes in your unit, you need fewer things and maybe you can avoid checking a bag.

Good point about the extra rooms. DH is a much earlier riser than I am and he plans out our day with maps, books, internet, etc. while I catch a few extra zzz's.

Sue

 

[a1000monkeys]

I wonder how many TSers actually grocery shop and cook often enough to save $$ vs eating out.

With young kids we rarely eat out. Of course my wife and I love to cook so it's rarely a chore and we love cooking local foods, especially in Hawaii.

With three kids, hotel rooms are no longer an option for us. Timeshares work great but we don't own yet, except for Disney which is a niche product.

Having the extra space, kitchen and laundry are necessities for us. If timeshare condos weren't available we would likely be renting private apartments or houses.

Like you, I still haven't figured out the costs savings of owning a timeshare. Right now there are great rentals that can be had at near the cost of maintenance fees but that may change as the economy and rentals improve. When that happens those $44 Priceline deals may be harder to come by and owning a TS (bought) resale may be a better bet.

However, if it's just the two of you and you like hotels then TS may not be for you. We likely would not have bought Disney or consider buying a TS if not for the kids and the needed extra space.