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Five Reasons Why We Bought a Timeshare

Discussion in 'New to Timesharing? Look Here!' started by anderik1, Nov 10, 2018 at 1:47 PM.

  1. anderik1

    anderik1 TUG Member

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    I wrote this post on my personal blog, but thought it may help other folks here on the TUG since so much of what I learned about my situation came from advise here on the forums.

    I’d love any feedback you have, but more than anything, I hope this helps someone else. The original post follows:

    [​IMG]

    My wife and I have gone to more than our fair share of timeshare presentations. I’d imagine that we’re somewhere in the neighborhood of ten different pitches. Most of the recent ones have been through Book VIP. The deal is always that you can get a significant discount on accommodations (and often they include All-Inclusive packages) in return for selling your soul for a few hours ( aka the obligation of sitting through a timeshare pitch.)

    Having been through as many as we have, I’ve actually gained quite a bit of knowledge of not only how the sales pitches work and how to combat the tactics used by the parade of sales people, but I’ve also learned about the different timeshare systems themselves. And when you look past the sales info, there’s no doubt in my mind that there is at least some truth behind the story that you can either save money on travel or travel with nicer accomodations — ASSUMING that you are able to pay a reasonable amount of money to acquire your week.

    It’s also no secret that we like to travel, which is why I’ve always given the idea about buying a timeshare some thought. But like many of you, I’ve often heard horror stories about them. You can’t book when you want. Maintenance fees are expensive. And you can’t get rid of them. Any of the ones that are worth owning are ridiculously expensive to purchase. Other than that, sounds great, right?

    Based on the things that I’ve read, a lot of that can be true.

    However, if you do your research and know what you’re getting into, owning a timeshare can improve the way you vacation… or at least that’s my theory and hope going into this. I’ve done quite a bit of research so I do feel good about it going into this.

    Here are five reasons why I believe buying a timeshare is the right move for us:

    1. We travel most years. Who am I kidding, we travel every year. Quite often a few times a year. We buy “things” on occasion, but we are definitely of the mindset that experiences and memories are more important than accumulating stuff or always driving a new car. Because we know that we like to travel, we include money to cover those expenses in our monthly budget, so that it’s covered when the time comes.

    Knowing that we are going to prioritize travel means that I’m ok with the commitment to pay a maintenance fee every year.

    2. We like going to places where there are timeshare locations. Well, perhaps more accurately, we like to go a lot of different places, and a lot of those locations also have timeshares. If you’re going to buy into a timeshare system, you should either really want to go back to that same location or the other locations that are operated by the same or partner companies. If your vacation destinations don’t line up with where there is resort availability, owning a timeshare isn’t likely for you.

    [​IMG]
    3. We’d enjoy having a bit more space when we travel. This one is probably a bit more subjective to us right now. With the kids being the ages that they are, we’re all really ok piling into a single standard hotel room with two queen beds. Half the time, we end up splitting up the adult and kids anyway. When we were in Hawaii, we only had an adult bed and a kid bed for one night.

    That being said, the kids are starting to get older, and it would be nice (not required, but nice) to have some more private space. We also bought enough HGVC points for a two bedroom unit, which would also give us the flexibility to have grandparents or friends potentially travel with us. We also don’t have to eat out every meal — especially breakfast — so having a working kitchen will be nice.

    4. We’re getting a high quality unit at a low price. If you go out to timeshare sales sites, you can quite often find units for sale for $1 — or in some cases, I’ve even seen where people are paying all of others closing costs just to get them to take them. Quite often, those locations are with questionable companies with high maintenance fees. I have no idea what the prices of timeshares will do in the future, but I feel confident that in the worst case scenario, I won’t be out too much capital — and could easily pass on the unit to someone else. However, my expectation is that we’ll hold on to this for a long time.

    The high quality unit also means that we should have good trading power if we wanted to go outside the Hilton Grand Vacation Club system. The location we’re buying into trades into both RCI and II — the two major players.

    There’s one additional benefit from a high quality unit which takes me to my final point.

    5. The week at the location that we’re buying rents for more than double the maintenance fees. Owning a high demand week in a high demand location also means that if we wanted to, we could reserve the week and rent it out and more than cover the maintenance fees for the year. If we actually did rent it out every other year, it would essentially pay for a free vacation for us every other year as well. I don’t know how often that we would consider renting it out, but I love having that as a fallback option if we don’t need it for one reason or another.

    We’re definitely still early in our journey, but I’ve done enough research that I feel very comfortable with our decidsion. I’d also be remiss if I didn’t give a shout out and thank you to the friendly folks at the TUG (Timeshare User Group) forums. They not only helped by answering a few of my specific questions, but just reading through others’ posts was exteremely beneficial.

    Stay tuned for more updates as we actually begin to use our new timeshare. Do you have a good or bad timeshare experience to share? Let me know @TalkToErik.
     
    pedro47, bbodb1, mpumilia and 4 others like this.
  2. DrQ

    DrQ TUG Member

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    I'm onboard with points 1-4.

    Our first was a slick developer presentation off site for an Orlando T/S and we had visions of Disneyworld dancing in our heads. Big mistake.

    We definitely were onboard with #3 and I looked for a regional system on resale where we were a day's drive away. When we checked out the unit, we were disappointed but we liked the resort locations, so we doubled down and upgraded. We could visit family, but still stay in the condo each night to decompress :thumbup:. We were able to use the benefits to save the cost of a motel room on the way up and back.

    We purchased a couple of weeks on eBay for $1 and $100 and we really love those weeks. Again, a day's drive away.

    The unit we purchased resale had 2 weeks deposited in RCI and we traded to Hot Springs AR and had a great time. Unfortunately, the game RCI was playing left a bad taste and we left and retreated into the system with internal exchanges and were happy.

    Our system was purchased by HICV so again we doubled down again and converted because our family has moved and HICV has resorts close to two of them and we can use the system to vacation close to family.

    On pont #5, none of our T/S have much rental value. :rolleyes:
     
    anderik1 likes this.
  3. anderik1

    anderik1 TUG Member

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    I agree with you @DrQ that #5 may not come to fruition, but I'm optimistic. Worst case scenario, if it doesn't rent, we can use them for the rest of the year since we own week 1.

    Sent from my SM-G965U using Tapatalk
     
  4. LannyPC

    LannyPC TUG Member

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    We're not TS owners (we used to be) but I agree with your points if such suits one's travel needs, preferences, and circumstances.

    It would be nice if people could see a thread like this before they go on social media totally lambasting the idea of owning a TS. It's a real shame when some people who have had bad, personal experiences with TSs blast the whole TS industry and emphatically try to tell everybody not to buy a TS.
     
    mpumilia and anderik1 like this.
  5. anderik1

    anderik1 TUG Member

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    I'd have to imagine that a significant portion of those folks bought under a high pressure sales pitch and also pay way too much for what they got.

    Sent from my SM-G965U using Tapatalk
     
  6. CalGalTraveler

    CalGalTraveler TUG Member

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    Nice well thought-out article. What TS are you buying?
     
  7. breezez

    breezez TUG Member

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    Timeshares for me have been a learning curve. As I dabble in different brands I learn more about each system what I like and don’t like. So currently I am constantly adjusting my portfolio to get me where I hope to be when I retire and can travel more.

    But ultimately I have taken many vacations to places I have never been before. Some I had never even heard of before we went. Being involved in TS have given me many awesome vacations with hopefully many more to come.
     
  8. anderik1

    anderik1 TUG Member

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    A Platinum 2 bedroom week at Craigendarroch (HGVC).

    Sent from my SM-G965U using Tapatalk
     
    mpumilia and CalGalTraveler like this.
  9. CalGalTraveler

    CalGalTraveler TUG Member

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    @anderik1 Good choice. We own 2 HGVC (W57 bHC, Vegas) and this is high on our list to add to our portfolio in the future so we could get to Elite and have lower our MF/point.

    +1 @breezez I agree. It makes us aware of locations we haven't thought of before. Through HGVC we stayed in Tuscany. We now have Barbados, Scotland, Japan and Portugal on the list for the future.
     
    Last edited: Nov 11, 2018 at 1:54 PM
    anderik1 likes this.
  10. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    I am retired and can travel more and do and even though I recently felt I was done and my portfolio was perfect I just adjusted. This time it was my hubby who wanted the change. He wanted to go to Key West a few weeks later then we currently go.
     
    Sugarcubesea and mpumilia like this.
  11. bbodb1

    bbodb1 TUG Member

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    Wyndham: CWA and La Belle Maison
    Excellent points, Anderik1.

    From our perspective, I would add that TS ownership has 'forced' us to include vacation planning as part of the yearly routine. I'm not saying that as a negative, rather as a push factor. I am very confident that TS ownership has 'made' us go many more places than we would have if we had to start from scratch each year, and consider the type of room/unit we wanted. We have been to areas of this country we would not otherwise have visited.
     
    mpumilia likes this.
  12. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Would just add you are guaranteed the resort, unit size, time and view if you buy a fixed week. You get exactly what you want.
     
  13. DannyTS

    DannyTS TUG Member

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    Congratulations on the purchase. Week 1 is the New Year's week at Hilton Craigendarroch Lodges so it is the best in terms of rental value.
     
    Last edited: Nov 11, 2018 at 6:40 PM
    anderik1 likes this.
  14. anderik1

    anderik1 TUG Member

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    Thank you! That's a big reason why we picked that one. We could have purchased a few different weeks for at least $1000 less, but I thought between the higher potential rental, better resale (maybe), and flexibility to use it the whole year was worth a bit more up front.

    Sent from my SM-G965U using Tapatalk
     
    Panina likes this.
  15. DannyTS

    DannyTS TUG Member

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    as others said, it is wise to buy the best you can afford. congrats again
     
    Last edited: Nov 12, 2018 at 12:28 PM
    anderik1 likes this.

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