Looking for guidance

[Bump]

Hi,

I've attended a number of 90 minute presentations and thankfully not matter how tough it was not signing, have made it thus far. I've heard a lot of horror stories. However, I do like the overall idea and do like to vacation. I currently collect a lot of Starwood points and book most of my hotel stays this way currently. I recently attended a Sheraton showing in which it seems we got some type of points. I'm assuming it's the Marriott system using RCI, but the guy said RCI is no more. I'm really looking for a way we can guarantee some vacation time and save money. Any recommendations or input on if this is the right fit or what I should look for would be great.

1) Where do you want your home resort to be? No preference, I don't plan to go to the same place all the time at this point.

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? I'd want to trade the majority of the time to see new places.

3) What are your 5 top trade destinations? Hawaii, San Francisco, European countries, New Zealand.

4) How many people do you usually travel with? 2-4

5) Can you travel any time, or are you locked into the school schedule? Any time

6) Can you make firm plans 12 or more mos. in advance? 12 months is pretty far out. May be difficult.

7) Can you vacation for a full week at a time? With enough planning, yes

8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 3+

9) How much can you afford to spend upfront, without financing? Would prefer after market for small fee.

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? Ultimately want to reduce my yearly fees unless this is really paying back.

11) Are you a detail oriented planner? Yes

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? I understand which is why I want minimal yearly fees.

 

[theo]

Just a few general comments based upon some of your answers:

1. "Minimal yearly fees", while certainly an understandable objective, may translate directly to minimal travel value. You indicate wanting to travel to Hawaii, New Zealand, Europe. You ain't gettin' to any of those places with a low value resale acquisition with "minimal" annual fees. You also mention seeking to reduce yearly fees. That will require magic, no matter what you purchase. A general rule of thumb might be to expect an annual increase in fees of 4-6%.

2. You did not answer the question (#9) regarding what you would spend upfront. The presumption here is that you would (wisely) only purchase in the resale market, but it's difficult / impossible to steer you toward on any particular product or system or option without that highly relevant piece of information.
Your "buy in" limits will effectively define your product choices and options.

3. Since you apparently have no interest in a home resort, it would certainly seem that a "points based" product might fit you best (if timeshare acquisition is really even the best option for you at all in view of your "minimal yearly fees" position and somewhat lofty travel goals). Which of the numerous chains with points systems might work best for you I leave to your own further extensive research and to the input of others; I do not own any "points based" timeshares.

 

[GT75]

I will add the following to what @theo has already given you. It does look like a "points based" system might be your best fit. The "points based" system (that I am familiar with anyway) will not work with the answer which you provided to question #6. This system "works" when the reservation window opens and you book your reservation for best availability. TS don't work (IMO) when you try to book like a hotel (< 1 month before the trip). To me that was one of the biggest adjustments which I needed to make.

 

[LannyPC]

would be great.
1) Where do you want your home resort to be? No preference, I don't plan to go to the same place all the time at this point.

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? I understand which is why I want minimal yearly fees.

Based on these two responses, I would also mention the option to you of simply renting from current owners. You can get lots of variation that way, there are no annual fees other than a low fee from TUG and/or Red week, no exchange fees, and no need to worry about how to get rid of it once you no longer want/need it. In fact, if you can make last-minute travel plans, often you can rent from an owner for less than the MFs.

 

[K2Quick]

6) Can you make firm plans 12 or more mos. in advance? 12 months is pretty far out. May be difficult.

This is the kicker for me. If you can't make firm plans a year out, owning a timeshare probably isn't for you. I'd recommend just renting timeshares or non-timeshare condos. You'll pay a bit more for your vacations, but you'll generally have a lot more flexibility.