How does a timeshare save me money?

[AwayWeGo]

TUG-BBS Poll For Favorite Hotel Chains.

My DW and I know the slick way to get sweet deals on 4 star hotels using Priceline's name-your-price feature.

Click here for the poll.

One of the voting choices is Whatever You Get On PriceLine.

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

 

[timeos2]

Set the value too low and you'll get less than you pay for

$300 isn't a set budget for us, just closer to what we've been paying for hotels. We can afford more, but I'm trying to see how TSing can save $$. Trust me I'd probably convince my wife to pay $452 for a week at Tahoe.

As for exchanging, for now that is our strategy. There's too much of a beautiful world to see for us to consider the same place over and over. That's part of the reason we considered buying a TS in Vegas, because of it's buying power year after year. Maybe someday we'll want consistency. Right now we want new places.

If you are staying in $300/WEEK HOTELS then obviously quality, space and ambiance can't mean anything to you. Even in this depressed market no hotels of any reasonable quality rent for $300/week. That is an unrealistic number for any type of accommodations in most areas and way below any cost of ownership for a decent timeshare.

If that is your number then us Priceline, etc and take whatever they can get you. If all you do is sleep there and it's clean enough to survive you'll do as good as you can for the $$.

If trading is the goal for any timeshare then forget about buying a week anywhere. That isn't the way to "use" what you buy. Look into a good points system and you might actually come close to that $300/week average and still have a beautiful 1BR or larger unit. Far better than any $300+/- hotels are going to be...

 

[echino]

You won't save any money by purchasing a timeshare in your situation. You will purchase a major headache.

You will have to book in advance or to trade well in advance and there is no guarantee you will get the time you want. It's a gamble, people say. But let's assume you got lucky and made your reservation a year in advance. Two months in advance your boss authorizes your vacation and you go looking for the plane tickets, and - surprise - the tickets for your booked dates are expensive, while a week before or after there are good deals for the tickets.

Maintenance fees go up, sometimes +10% or more every year. Some good Hawaiian timeshares are in the $2,000 - $3,000 range per week and keep going up. And in addition to that you will be hit with special assessments from time to time.

If you buy a cheap timeshare with MFs in $500 - $800 range, your trades to places you want to go will be unreliable. Plus, it will cost you around $100 - $200 in annual membership fees + $100 - $200 per trade. I looked at RCI availability with supposedly good traders and I did not like what I saw at all. You will not reliably get into any decent places with trading.

If you had an experience of buying discount all-inclusive vacations from travel agencies which include flights, nice hotels and all meals, then you will not get anything like that with timeshares.

If you cannot go in some years for financial or personal reasons, you are stuck with your timeshare. You still have to pay MFs, and then have a headache finding a renter.

Now timeshares can be a good thing, if ALL of the following applies to you:

1. You have children and always need 1-br or 2-br accommodation.
2. You can always plan more than a year in advance and your plans do not change.
3. If your trades do not happen as planned, then you don't mind going to the timeshare you own, same place every year, you love the place and it is within driving distance.
4. You believe economy will improve significantly and all current cheap rentals will not be available in the future.
5. You are prepared to pay increasing MFs forever. You understand that if you want out, then you may not be able to get rid of your timeshare when the time comes. Nobody may want to take it from you even for free, so you will be stuck with MFs forever.

 

[shifty1981]

I think things will change a lot when there're more members to the family.

You're the second or third to mention someone being diabetic. Sorry to hear that, but still surprising to hear about it so often all of a sudden.

DW is an early riser. Maybe I should do TS just for some extra zzz's

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.

 

[shifty1981]

I like the idea of no fees at checkout. no guilt feeling for using a fridge or the tv. I wonder if movies are free or the built in game systems? my "biggest" fear: no HD programming! LOL Just kidding. But seriously, sports on a 20" TV in standard def is a tough when you've done HD on large widescreen TVs for so long.

As for the priceline deals, yes the price will go up, but so with MFs. To me that's a real fear. Figuring out how to avoid being in the TS where the fees go up tons. Not much I can do about that. Seems like a crap-shoot.

Agreed on bulk-food purchases, clean clothes when you get home, and less checked bags.

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

 

[shifty1981]

My favorite combo:

Getting Marriot's on priceline! Did that a few times and felt so odd being young 20-somethings walking around in jeans in this posh Marriot hotel next to J-Crew look-alikes who all paid easily double what I paid. But that awkward feeling turned to relaxation when I slept in their oh-so-comfortable beds.

Click here for the poll.

One of the voting choices is Whatever You Get On PriceLine.

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

 

[Keep Traveling]

Here's a quick look for Orlanod.

This place is called Marriott Grande Vista
May 13 2010 - May 20 2010 0 2 4 024 $207.00 for the week.

This is a Getaway. So its basically a hotel that sleeps up to 4.

The price for the entire week is 207 right now.

Much cheaper than priceline.

I know some people that buy a timeshare that has access to RCI/II and then later sell it but keep the exchange companies for the getaways.

RCI points has an option to get in on a three year lease as well so you could try it out.

If you only take 1 vacation probably not worth it and just try renting.

KT

 

[shifty1981]

We've easily done that before. Under $50/night for 6 nights. even the nice hotels would rather $50 than an empty room. Don't believe me? Try doing the priceline trick we've pointed out.

Now, is it TS quality? No, but I've been in some pretty sweet rooms for cheap. At my aunt's funeral I did the trick just to find something clean and safe and ended up in a 4 star hotel while relatives stayed in the local motel 8 for more money. Not bragging, cuz the hotel didn't help the somber mood as much, but still, relaxing in a private hot tub after a long stressful day made it somewhat less stressful. Quality, space and ambiance do mean something to me. But I don't at this point feel like I have to live in luxury on vacation. Maybe that will change when I get back from first TS stay. As I've said, I want clean, safe, affordable and within stressless travel distance for our adventures outside the hotel. DW and I aren't much to go on vacation and stay in the hotel or on the grounds much. At least not yet. Will our budget go up for TS, probably. But that's not the point of why i started this thread. More to see how $$ is saved through using TS.

If you are staying in $300/WEEK HOTELS then obviously quality, space and ambiance can't mean anything to you. Even in this depressed market no hotels of any reasonable quality rent for $300/week. That is an unrealistic number for any type of accommodations in most areas and way below any cost of ownership for a decent timeshare.

If that is your number then us Priceline, etc and take whatever they can get you. If all you do is sleep there and it's clean enough to survive you'll do as good as you can for the $$.

If trading is the goal for any timeshare then forget about buying a week anywhere. That isn't the way to "use" what you buy. Look into a good points system and you might actually come close to that $300/night average and still have a beautiful 1BR or larger unit. Far better than any $300+/- hotels are going to be...

 

[echino]

I got Westin Maui hotel on priceline for $125 per night. We traveled with our (almost) 2 year old son. They gave us on ocean view. That was wonderful. And we booked after we had our plane tickets for the cheapest possible price.

If you have one kid, a hotel room via priceline is usually still OK. Now when we have three kids, we are thinking about a timeshare, but prefer renting for now as prices are going down with no end in sight.

 

[loosefeet]

It saves me money b/c I satisfied having a "second house" through timesharing. I feel like I am invested in a big group of people sharing real estate around the world without having to spend hundreds of thousands to have a second house in one location.

 

[shifty1981]

Curious which boat you're in. You seem pretty much anti-TS. If so, why are you in TUG? To warn others?

You won't save any money by purchasing a timeshare in your situation. You will purchase a major headache.

You will have to book in advance or to trade well in advance and there is no guarantee you will get the time you want. It's a gamble, people say. But let's assume you got lucky and made your reservation a year in advance. Two months in advance your boss authorizes your vacation and you go looking for the plane tickets, and - surprise - the tickets for your booked dates are expensive, while a week before or after there are good deals for the tickets.

Maintenance fees go up, sometimes +10% or more every year. Some good Hawaiian timeshares are in the $2,000 - $3,000 range per week and keep going up. And in addition to that you will be hit with special assessments from time to time.

If you buy a cheap timeshare with MFs in $500 - $800 range, your trades to places you want to go will be unreliable. Plus, it will cost you around $100 - $200 in annual membership fees + $100 - $200 per trade. I looked at RCI availability with supposedly good traders and I did not like what I saw at all. You will not reliably get into any decent places with trading.

If you had an experience of buying discount all-inclusive vacations from travel agencies which include flights, nice hotels and all meals, then you will not get anything like that with timeshares.

If you cannot go in some years for financial or personal reasons, you are stuck with your timeshare. You still have to pay MFs, and then have a headache finding a renter.

Now timeshares can be a good thing, if ALL of the following applies to you:

1. You have children and always need 1-br or 2-br accommodation.
2. You can always plan more than a year in advance and your plans do not change.
3. If your trades do not happen as planned, then you don't mind going to the timeshare you own, same place every year, you love the place and it is within driving distance.
4. You believe economy will improve significantly and all current cheap rentals will not be available in the future.
5. You are prepared to pay increasing MFs forever. You understand that if you want out, then you may not be able to get rid of your timeshare when the time comes. Nobody may want to take it from you even for free, so you will be stuck with MFs forever.

 

[shifty1981]

Nothing personal but I don't see how being "satisfied" and "feeling like your invested" results in saving money. Am I missing the obvious? Does it cost you more money if you feel unsatisfied or you don't invest in real estate around the world? Again, nothing personal just trying to understand your train of thought. Those are great feelings, but not necessarily money saving.

It saves me money b/c I satisfied having a "second house" through timesharing. I feel like I am invested in a big group of people sharing real estate around the world without having to spend hundreds of thousands to have a second house in one location.

 

[echino]

Curious which boat you're in. You seem pretty much anti-TS. If so, why are you in TUG? To warn others?

I am actually thinking of buying a timeshare now. I live in Vancouver and we go skiing in Whistler (driving distance) and we have three kids. I liked Club Intrawest in Whistler, but it is expensive. I am thinking about buying an HGVC points package (probably 7,000 platinum points in Las Vegas) to book Club Intrawest in Whistler via HGVC (they are affiliates). It may make sense financially for my family. But still expensive: around $7,000 (at least) to buy, plus over $1,000 in various fees every year. I have not made a decision yet, as renting in Whistler is still cheaper now than going HGVC route.

 

[shifty1981]

No offense, but is it ever wise to pay over $1000 for a TS even on resale market? Is that TS so valuable that you can't get it much cheaper? Or am I missing something?

I am actually thinking of buying a timeshare now. I live in Vancouver and we go skiing in Whistler (driving distance) and we have three kids. I liked Club Intrawest in Whistler, but it is expensive. I am thinking about buying an HGVC points package (probably 7,000 platinum points in Las Vegas) to book Club Intrawest in Whistler via HGVC (they are affiliates). It may make sense financially for my family. But still expensive: around $7,000 (at least) to buy, plus over $1,000 in various fees every year. I have not made a decision yet, as renting in Whistler is still cheaper now than going HGVC route.

 

[DeniseM]

I don't really think the main focus of timesharing is to save money - at least not for me. We spend the same amount of money on vacation, but have a better experience in a larger unit. I think you will have to try it, to understand it. Don't get me wrong, I love Priceline for shorter stays (I have a Priceline weekend coming up the end of the month) but for a week or more of vacation, you can't beat timesharing.

We are very active on vacation, but love to come back to a spacious, comfortable unit where we can spread out, cook, snack, do laundry if necessary, make blender drinks, etc. In fact, on timeshare vacations we only take carry-on luggage - even for two weeks, because we prefer to wash a load every two or 3 days, instead of schlepping around a lot of luggage and paying the airline fees.

If you are on a real tight budget, lowering your vacation cost may be more important to you than having nicer/larger quarters. Also - if you are on a real tight budget, maybe this isn't a good time to add the ongoing obligation of a maintenance fee to your budget.

I strongly suggest that you try a rental, before you make any decisions.

 

[echino]

No offense, but is it ever wise to pay over $1000 for a TS even on resale market? Is that TS so valuable that you can't get it much cheaper? Or am I missing something?

Club Intrawest in Whistler is a high-end timeshare and HGVC route is the cheapest way to get into it. I am still not sure if I am willing to pay that much though. I may eventually settle for a lower-quality timeshare in Whistler. It can be bought for $1. The problem is I will not be able to unload it if need be, and will be stuck with MFs, while HGVC will probably retain some value over time.

 

[K2Quick]

I'm in my first year of timeshare ownership. I got into it primarily to increase the quality of vacation experience rather than to save money. My goal is to do that for approximately the same amount of money as we spend doing vacations in hotels. But I believe I have saved money. Our goal is one trip to Hawaii per year and a week somewhere else. Here's what a week in a Resort* hotel in Maui cost us (using the midpoint between two actual rates we booked on Priceline the two occasions before timeshare ownership):

Base Rate $173
Resort Fee$25
Taxes $30
Total Rate per Night $228
# of Nights 7
Total Spent One Week in Hotel $1,596

For the above, we stayed at the Sheraton Maui one year and the Westin Maui another. In 2010, we stayed in a one bed timeshare at the Westin Kaanapali Villas in January and a two bed timeshare at the Marriott Newport Coast Villas in April. Here's what I paid this year (ignoring the upfront cost including closing costs of $1,900 of the timeshare I used for the trades):

Maintenance Fees $889
Exchange Company Annual Fee $45
II *wood Trade Commission $104
II Regular Trade Commission $139
Tax charged in Hawaii $42
Total for 2 weeks $1,219

So for 2010, I paid almost $400 less for two weeks in timeshares than I would have paid for one week in a Maui hotel room. That also ignores the savings from cooking in the unit as opposed to eating out which saves us about $100 to $150 per week. Ultimately for me it boils down to the comfort of having the extra room though.

 

[chriskre]

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?

Yes this can work but you have to be really in control of yourself.
TS'ing can be addicting.

You'd need a resort with dual affiliation and then sign up with the indies also.

I have picked up $79 full weeks in 2 bedroom units from the exchange companies on last minute rentals or bonus weeks (mainly DAElive).

I've stayed in Key Largo for $112 a week with II on a sale they had on getaways.

I've done other trips like $112 to Ft. Laud beach for a week with II sales.

If I didn't own a TS then I wouldn't be able to get these great deals.

Granted they weren't in high season but for me just getting the Orlando bargains is worth owning a TS.

This strategy probably works better because I live in FL where TS deals abound but for me it's worked out much cheaper than trying to get hotel deals or staying in seedy motels.

Saving money on meals certainly helps. I love to be able to eat breakfast in the room and have a midnight snack without having to step out and rush.

 

[geekette]

Now timeshares can be a good thing, if ALL of the following applies to you:

1. You have children and always need 1-br or 2-br accommodation.
2. You can always plan more than a year in advance and your plans do not change.
3. If your trades do not happen as planned, then you don't mind going to the timeshare you own, same place every year, you love the place and it is within driving distance.
4. You believe economy will improve significantly and all current cheap rentals will not be available in the future.
5. You are prepared to pay increasing MFs forever. You understand that if you want out, then you may not be able to get rid of your timeshare when the time comes. Nobody may want to take it from you even for free, so you will be stuck with MFs forever.

Want to add: You are flexible. Either as to time or place. If flexible with BOTH, you can do really well.

Sometimes we didn't know where we wanted to go (I just generally want to see the world) and just looked to see what was available and Went There. I call it Vacation Roulette. Could work well for 2 months out, drivable destination.

[we don't have kids, we like the extra space so we can bring Mom, who cannot afford to vacation, and give her her own room - while I understand why families "need" ts, some of us kidless by choice folks would not travel any other way]

 

[geekette]

Can't find it to quote, but OP was wondering about strategy of buying cheap just for cheap getaways.

Yeah, that strategy could work, but why bother? If you are in the market for cheap getaways, just check out the Rentals Offered board here. It's 45 days or less to check-in, so could be fine with your boss. Most offering are regulars here so maybe more comfortable than dealing with total strangers.

I would very much encourage you to look there now to find your next vacation!

Best part - it supports the owners that support the resorts. No middleman, so no middleman to pay. Cheaper than booking directly with a resort that offers public rentals, and, [bias ahead] doesn't line the pockets of greedy exchange companies.

unrelated, one thing I'm not sure has been mentioned - most resorts do not offer daily maid service, room service, some of those common hotel services. If these things are important to you then I would encourage you to find out before you book. I like not having daily cleaning. Sometimes I just want to flop about the place and relax but feel I should get out so maid can do her job.

By the way, Shifty, Welcome to Tug!

 

[DavidnRobin]

Not sure if this was mentioned (re: TS cost savings) is the savings of having a full kitchen, and BBQ facilities. We spent 2 weeks in Kauai and 2 weeks in Maui last year - and only ate out ~4 times. This easily saved us over $1500.
Add in the kitchen/fridge to store beer and cocktail makings - even more.
Add in having a washer/dryer - even more (at least in space savings).
Add in that we plan our vacations well ahead of time - well... you get the idea.

best of luck.

 

[scrapngen]

You might look for a recent thread from GoofyHobbie over on the Wyndham section where he breaks down his latest amazing line-up of 6 months TS'ing for very little $$ per night. He broke it down according to how much he paid for the TS's and MF's and then listed his trades. Granted, it took him time and energy to make it work, but it directly addresses your question of whether a TS could save you money. His cost per night was less $100 and he is staying at many nice places. I have a slow connection where I am right now or I'd hunt the thread down for you. :whoopie:

 

[dchilds]

Forgot about drinks

When we're in St Maarten, one of our first tasks is to get drinks to stock the fridge, and make sure the ice-maker & blender are working. Sure it's nice having someone bring you a $5 frosty beverage when you're sitting on the beach, but after having them bring you 4, two or three times, carrying a cooler with you starts to seem like a pretty good idea.

 

[shifty1981]

Thank you for the quick summary of what works for you. Actually I could use a vacation right now. Oh well. Off to work I go!

I don't really think the main focus of timesharing is to save money - at least not for me. We spend the same amount of money on vacation, but have a better experience in a larger unit. I think you will have to try it, to understand it. Don't get me wrong, I love Priceline for shorter stays (I have a Priceline weekend coming up the end of the month) but for a week or more of vacation, you can't beat timesharing.

We are very active on vacation, but love to come back to a spacious, comfortable unit where we can spread out, cook, snack, do laundry if necessary, make blender drinks, etc. In fact, on timeshare vacations we only take carry-on luggage - even for two weeks, because we prefer to wash a load every two or 3 days, instead of schlepping around a lot of luggage and paying the airline fees.

If you are on a real tight budget, lowering your vacation cost may be more important to you than having nicer/larger quarters. Also - if you are on a real tight budget, maybe this isn't a good time to add the ongoing obligation of a maintenance fee to your budget.

I strongly suggest that you try a rental, before you make any decisions.

 

[shifty1981]

Thank you for the concrete example! That's what I am looking for. However I hope you either (A) have a high paying job or (B) live on the west coast. Flying to Hawaii costs so much from Boston. Would be happy to go once. Again thank you for the example.

I'm in my first year of timeshare ownership. I got into it primarily to increase the quality of vacation experience rather than to save money. My goal is to do that for approximately the same amount of money as we spend doing vacations in hotels. But I believe I have saved money. Our goal is one trip to Hawaii per year and a week somewhere else. Here's what a week in a Resort* hotel in Maui cost us (using the midpoint between two actual rates we booked on Priceline the two occasions before timeshare ownership):

Base Rate $173
Resort Fee$25
Taxes $30
Total Rate per Night $228
# of Nights 7
Total Spent One Week in Hotel $1,596

For the above, we stayed at the Sheraton Maui one year and the Westin Maui another. In 2010, we stayed in a one bed timeshare at the Westin Kaanapali Villas in January and a two bed timeshare at the Marriott Newport Coast Villas in April. Here's what I paid this year (ignoring the upfront cost including closing costs of $1,900 of the timeshare I used for the trades):

Maintenance Fees $889
Exchange Company Annual Fee $45
II *wood Trade Commission $104
II Regular Trade Commission $139
Tax charged in Hawaii $42
Total for 2 weeks $1,219

So for 2010, I paid almost $400 less for two weeks in timeshares than I would have paid for one week in a Maui hotel room. That also ignores the savings from cooking in the unit as opposed to eating out which saves us about $100 to $150 per week. Ultimately for me it boils down to the comfort of having the extra room though.