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Gifted Timeshare...Worth It?

Discussion in 'New to Timesharing? Look Here!' started by LeeF7788, Feb 12, 2018.

  1. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Since your Aunt has owned this timeshare for 30 years, ask her where she was able to exchange and how often did she just stay at her home resort. You could also contact the resort and see if her timeshare was a Right to Use or a fixed deeded week. Find out their policy on taking back the week. If she has a RTU contract, it might be ready to expire and she can just walk away.
    These are things you need to know before taking over her timeshare.
    Silentg
     
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  2. theo

    theo TUG Review Crew: Veteran TUG Member

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    All I'm going to offer to the OP is that accepting this ownership only with the intent (it's just a hope, really) to "trade" with it might very well be a big mistake and, with no disrespect intended, essentially a fool's errand (IMnsHO). If it doesn't have good trade value, then you are basically guaranteed to have time consuming disappointment and frustration. You can't ever get gold bars in exchange for iron pipe, if you'll forgive the metaphor.

    Also, although the maintenance fees are apparently quite low, they are also eternal (until / unless you find a willing new recipient or give it up to foreclosure). Unless you actually want to go there for that May week, I'd think long and hard before voluntarily becoming the new owner of record.

    On the plus side, Larry Bird is one of my favorite basketball players of all time and maybe you'd bump into him sometime in French Lick! :D
     
    Last edited: Feb 13, 2018
  3. vacationhopeful

    vacationhopeful TUG Review Crew: Rookie TUG Member

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    Keep learning. If your aunt leaves it to you in her will, you can DECLINE that portion of the inheritance when she passes on.

    Is your aunt still going to the timeshare? If so, you might want to visit a few days with her on her next trip. It will give you some insight into WHAT she enjoys about the vacation stay or if the place appeals to you & your family. YOU need to LIKE it.

    I bought fixed week timeshares in the winter in South Florida very near the beach. Sun and warmth in the winter for my aging body and bones. Just got back last week from a short stay .. it is nice to go to the same area as I know the eating places, the great local sports bar, the "lay of the land", know the public bus routes (rental cars for single person costs ad up fast), etc.

    TRIP REPORT from my solo trip to South Florida in early February (aka last week)
    :
    I arrived, took the city bus from the airport terminal & transferred to the 2nd bus, got to the resort and got settled into my unit. Walked less than a block to a great sports bar, ordered a hamburger, drank 2 beers and inquired about Super Bowl seats (was politely told ... like no way even in my dreams as being possible). Did the Super Bowl at the resort's Tiki bar by the pool... grill hot dogs and COLD beers. Walk to a Thai restrauant another night (always excellant food with the owner sitting nearby about the same distance walking as the sports bar) .. under 5 minute walk. Another dinner out, was a Mexican sitdown restraunt less than a 5 minute walk. a 4th day's meals were found by taking the county bus 10 miles north of where I was stay to visit my 2 other resorts I stay at during the winters... eating food at the one of the resort's Tiki bars.. Took the county bus back to the airport .. with one change of the bus ($1 per bus). I brought instant oatmeal with me for breakfasts. Lunches were resorts' Tiki bar food. Dinners at different places every night with waiter service.

    I had available a 7-11 store right out the back door of my resort (did not use). I did not hit the local sitdown Italian dining place .. it was almost full when I walked by and went next door to the Mexican dining. A 15 minute walk from the resort is the large and upscale, Galleria Mall in Ft Lauderdale ... 4 nicer upscale lunch and dining places with exterior entrances for access when the mall is closed.

    I enjoyed my vacation stay. Pool, sun, warm weather, good eating, some beer, good bed plus a fine Super Bowl time at the TIKI bar ... my team won; it was a great game. And yes, there were other people who were in the pool bar area, glued to every minute of game action.

    NOW, after arriving back at Philadelphia airport on Thursday evening ... getting home was a bit difficult. My regular ride cancelled on me the day before. Seems he had some parade to attend. No shared van services to NJ; a few cabs only. Cost me $55 to get home plus tip. Good thing I was going only 10 miles and south of PHL while heading away from Philadelphia .. else I would have change flights and stayed a few more days in Florida. There was this BIG STREET party going on in Philadelphia by the Art Museum... over 1,000,000 attendees.
     
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  4. silentg

    silentg TUG Review Crew: Expert TUG Member

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    We enjoyed staying at Fort Lauderdale Beach Club Resort too. We have been there twice and hope to go again. Our son lives in the area and it’s a nice place for get together and beach is so close !
    Thanks for the review Linda!
    Silentg
     
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  5. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    Lee,

    I played with the RCI Weeks 'deposit calculator' for French Lick Springs Villas (RCI Resort #1788). The maximum Trade Power Units (TPU) assigned by RCI are:
    • 1BR units, for most weeks in May 2019: 18 TPU
    • 2BR units, for most weeks in May 2019: 19 TPU
    To gain the stated maximum TPU, you need to deposit your assigned week to RCI at least 9 months from check-in. TPU varies year to year based on relative demand.

    For comparison, my 1BR August week at a Southern California Coastal resort fetches ~40 TPU. But my resort dues are much higher than those stated in post #1 for the "gift" timeshare.
     
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  6. bogey21

    bogey21 TUG Member

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    My thoughts entirely....

    George
     
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  7. LeeF7788

    LeeF7788 Guest

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    Thanks for this. Sounds like this one might not have much trading power either then.
     
  8. LeeF7788

    LeeF7788 Guest

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    That sounds like a really nice reason to own a timeshare. I never thought about it like that, actually. I'm not sure French Lick would be somewhere we would want to keep going, but we could definitely look into somewhere else that isn't too far from home. Thanks for your advice!
     
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  9. LeeF7788

    LeeF7788 Guest

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    This seems to be underlying thought here...what do we need and want for a vacation? Asking ourselves that, really helps put this in perspective. It would be nice to have somewhere to go each year, but it'll have to be somewhere we both enjoy. It sounds like you have figured that out! Thanks so much for your time and advice, we greatly appreciate it.
     
  10. LeeF7788

    LeeF7788 Guest

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    This is awesome! Thank you so much for explaining all that and taking the time to type it up. We cannot express how much we appreciate it. I'll make sure to show this to my wife and we'll have a chat about it.

    I really appreciate you taking the time to look up the villa itself as well. Wow! Thank you!

    Yes, this definitely isn't a decision we wanted to make lightly. We'll continue doing research and coming here for advice. You are all so nice!
     
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  11. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    Related threads, with our shared storytelling:
    Enjoy!
     
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  12. LeeF7788

    LeeF7788 Guest

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    Thank you! I didn't realize there were different types of timeshares (Right to Use of fixed deeded week). She had said that she has gone a ton of places and has never had trouble exchanging. She's gone to Florida a lot, as well as other places around the United States. I don't know if she's ever gone overseas, and I'm not really sure about where's she has stayed exactly besides Florida. I'll try to find that out as well. My list of questions is growing! =)
     
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  13. LeeF7788

    LeeF7788 Guest

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    We appreciate your honest opinion! That's exactly what we were looking for when we joined this site, so thank you!!!
     
  14. LeeF7788

    LeeF7788 Guest

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    Thanks for this! I enjoyed reading about your experience as well.

    I was hoping to go with my wife down there with her this year, but it seems she isn't able to go (her aunt). Her aunt and uncle aren't able to travel anymore due to getting older and health issues. At this point, we were hoping to go down there and stay ourselves to try it out before making a decision. I know her aunt really loves the casino there, but that's about all I know.
     
  15. LeeF7788

    LeeF7788 Guest

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    This is most helpful! Oh my! Thank you!

    I cannot wait to share this with my wife.

    If we were to take this, what's the earliest we could deposit our week? It sounds like depositing earlier gets us more TPU's but how do those translate into trading? Say, we wanted to trade for a resort in Colorado in the off season, would the be feasible?

    Thank you so much for playing with the deposit calculator and letting us know. It is truly appreciated.
     
  16. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    You are most welcome. We are addicts ... this is what we do for fun ... :D

    Generally, the earliest you may deposit is 1 year from check-in. But this might require resort coordination, pre-payment of dues, etc.

    Off-Season, Colorado? You might be OK. At present, there are at least 7 RCI "Gold Crown" (highest rated) CO locations available. Exchanging into them requires 8-27 TPU depending on the resort, week and room type. To you give you specifics on the two extremes:

    Rams Horn Village Resort (#2327)
    [​IMG]
    Estes Park, CO USA
    Play Video
    [​IMG] Website Rams Horn Village Resort opens in a new window

    [​IMG] 113 Reviews


    8 TPU + exchange fees books a 2BR unit (sleeps 6) for the week of Sat 17-Feb-2018 to Sat 24-Feb-2018
    Note: this is a very last minute exchange! More typical TPU requirements for weeks through 2019 run 13-20 TPU for the 2BR unit.


    Sandstone Creek Club (#5148)
    [​IMG]
    Vail, CO USA
    Play Video
    [​IMG] Website Sandstone Creek Club opens in a new window

    [​IMG] 54 Reviews
    27 TPU + exchange fees books a 1BR unit (sleeps 4) for the week Sat 13-Apr-2019 to Sat 20-Apr-2019
    This resort had summer 2018 weeks falling between 16-20 TPU.

    Sorry for messy formatting ... copy/paste directly from RCI's site w/ only minor editing. (I'm feeling lazy and need to go feed horses!)
     
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  17. LeeF7788

    LeeF7788 Guest

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    Fantastic information! Thank you so much for doing this!

    I think this really helps put things in perspective for us, in a way that we can understand it.

    You are very kind!

    Horses?! Awesome! Have a great day and thanks again!
     
  18. silentg

    silentg TUG Review Crew: Expert TUG Member

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    If you are members of RCI. They have times when they lower the exchange rate( they call it slashing) you can exchange into resorts some as low as 3 TPU. The lowest we ever got was 5.
    But this means you can get more than one exchange for your aunt’s timeshare week. Also, you can combine TPUs to exchange into a higher TPU. For example if you get 18 TPU a year combine two years and get 36 TPU for a vacation. Just another thing to consider.
    Silentg
     
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  19. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    For two annual maintenance fees. Yes, TPUs carry over for one year, and you can borrow from the upcoming year (as long as the MF & RCI membership is paid), but in Lee's case, that would be $996 in MF plus $199 in RCI membership + $250 in exchange fees. (imo) not such a great deal for one week's vacation.

    Lee, If your eyes haven't glazed completely over, I think you oughtta pass on Auntie's gift unless you're just itching to go to French Lick over half of the Mays in the foreseeable future.

    Jim
     
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  20. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    Plus RCI's Combine Fee of $129?

    Related links:
     
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  21. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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  22. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    I think with timeshares it is best to keep it as simple as possible.
     
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  23. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Y'know, I agree with this- and know you have a fixed week. I do have one in Points, and have gone all over the world using them, but honestly, the one I enjoy most is that 3rd week in July at Yellowstone.
     
  24. mpumilia

    mpumilia TUG Review Crew: Veteran TUG Member

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    I have 3 fixed weeks (though one is actually an "attached" floater (but preassigned 20 years out by the resort - and we traveled all over the country with that one for many years).

    No one ownership fits for every person. Lots of people like their points ownerships for sure.

    I just personally wouldn't like having to book my own resort/unit/week every year one year in advance. I like just showing up. Not to mention having to be tied in with RCI or whatever exchange company with all the fees and rules.

    I'm with you. That Yellowstone week must be a gem! My husband especially would love to have that if we lived out West. Our favorite national park is Yellowstone!
     
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  25. silentg

    silentg TUG Review Crew: Expert TUG Member

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    We own fixed weeks too. We have bought in places we like to stay, meaning if we didn’t exchange we would be happy to go to our own timeshares. But we enjoy going to different places too. Our RCI deposits are all planned until next year. We may just stay at our own resorts next year unless we get an exchange to a place we would like to try? Flexible schedule makes it easier. When we had to be on school and work schedule was difficult to get exchanges. But only DH and I traveling, and he can work from anywhere. Love timesharing!
    Silentg
     
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