Super newb - what should we do?!

[twarren]

Hi all! Writing to you from the beautiful Wyndham Bonnet Creek.

Super happy to find this forum and make my donation to keep it operating. There is so much information you need to know to do time-sharing right. Would love your feedback on what we should do!

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?

Yes - we live in Charlotte, NC and spend time at least once a year in Orlando and Williamsburg.

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?

We have no home resort - we have always rented timeshares and I have absolutely refused to ever attend a timeshare presentation

3) What are your 5 top trade destinations?

We have nothing to trade, but we go to Williamsburg and Orlando regularly, my parents own at the Royal Islander in St. Martin (RCI deeded that I will eventually inherit). The kids are getting older so we are open to more adventuring, new locations etc.

4) How many people do you usually travel with?

Family of 5 but often vacation with friends, up to 20.

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

Kids are in school for the next 7 years, but we do lots of long weekends, four dayers, etc.

6) Can you make firm plans 12 or more mos. in advance?

Yes

7) Can you vacation for a full week at a time?

Usually.

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

Not sure, Bonnett Creek is right up our alley. Grand Floridian is a bit to fancy for our taste.

9) How much can you afford to spend upfront, without financing?

Have no desire to pay too much up front, so, close to zero.

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?

We are thinking about starting small, 60-100 bucks a month, 750-1200 a year.

11) Are you a detail oriented planner?

My wife is.

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?

yep got it.

 

[Passepartout]

Keep doing what you're doing. Renting. Perhaps you can use access through the parent's ownership & membership in their exchange co. to access last minute bargain rentals and getaways. You live in an area of lots of drive-to TS locations. Your TUG membership gives you access to reviews, and distressed & sightings (thank you) so you can check out resorts before you pull the trigger. Often, rentals are close to the cost of underlying resort fees, so by not tying up money in buy-in cost you are just limited by your own saving habit.

We like to TUG!

Jim

 

[rhonda]

Congrats on your successful rental pattern. I have no particular suggestions at the moment ... but really loved some of your replies to the survey. Well done ... I'm sure others will chime in with great discussion. Welcome to TUG!

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?
We have no home resort - we have always rented timeshares and I have absolutely refused to ever attend a timeshare presentation

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
Not sure, Bonnett Creek is right up our alley. Grand Floridian is a bit to fancy for our taste.

9) How much can you afford to spend upfront, without financing?
Have no desire to pay too much up front, so, close to zero.
This had me laughing. Really great reply and a good 'starting point' for this conversation.

 

[silentg]

Welcome to TUG!
Go to Marketplace for buying, selling, renting. Try renting first. Don’t buy a timeshare while on vacation.
Good Luck!
Silentg

 

[Jan M.]

Is what your parents own a points week or a fixed week in RCI? There are timeshares being given away here on TUG. Check out the Bargain Deals in the Buying, Selling, Renting forum. Some are given away and sometimes the owners even pay or split the closing costs. Look on eBay too. If they have a fixed week I would look for a three bedroom in a high demand week as it should be an excellent trader with RCI. If they have a points week then you would need to make sure that what you're looking at buying is also a points week. If you were to get something you might be able to add your parents to that deed along with yourself and be able to share their RCI account. If you can do that then you wouldn't have the expense of paying the annual fee for your own account.

 

[twarren]

Is what your parents own a points week or a fixed week in RCI? There are timeshares being given away here on TUG. Check out the Bargain Deals in the Buying, Selling, Renting forum. Some are given away and sometimes the owners even pay or split the closing costs. Look on eBay too. If they have a fixed week I would look for a three bedroom in a high demand week as it should be an excellent trader with RCI. If they have a points week then you would need to make sure that what you're looking at buying is also a points week. If you were to get something you might be able to add your parents to that deed along with yourself and be able to share their RCI account. If you can do that then you wouldn't have the expense of paying the annual fee for your own account.

Thanks Jan. They have two deeded weeks near mid August. I recall Dad telling me they have been offered a points conversion but he never responds to the emails. If we ever buy it would be great to use in tandem with these weeks but not crucial.


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[twarren]

Keep doing what you're doing. Renting. Perhaps you can use access through the parent's ownership & membership in their exchange co. to access last minute bargain rentals and getaways. You live in an area of lots of drive-to TS locations. Your TUG membership gives you access to reviews, and distressed & sightings (thank you) so you can check out resorts before you pull the trigger. Often, rentals are close to the cost of underlying resort fees, so by not tying up money in buy-in cost you are just limited by your own saving habit.

We like to TUG!

Jim

Thanks Jim, we have been reluctant to buy, I guess that’s why I’m surfing these boards. From what I’ve gathered you really need to know the system to not get taken.


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[Passepartout]

Thanks Jim, we have been reluctant to buy, I guess that’s why I’m surfing these boards. From what I’ve gathered you really need to know the system to not get taken.

It helps to know the strengths of systems relative to where you want to use them- which is why DeniseM designed the questionnaire. Most important, of course is our 4 word mantra, "Buy Resale, Save Thou$and$". All the rest is details.

 

[Panina]

Family of 5 is easy to accommodate but traveling with up to 20 is what will makes buying a timeshare a no for you if that is the amount of people you want to travel with you.

To stay close to zero cost and to keep your maintenance fees in your range and having good trade value is a harder find but doable.

There is a timeshare called Chetola within a few hours of you in the Blowing Rock area of NC. I believe your kids are out of school by then. Great resort and town for a family if you use it. The association sells weeks for only a few hundred dollars. There is a fixed week 23, 2 bedroom, where the maintenance fees was $717 for 2018. Its TDI in interval is 150, the highest.

I know about this week and resort as I almost purchased it. There is also a week 22 in the same unit available with a little lower TDI but still great. This can give you 2 weeks in a row in the same unit. I ultimately did not buy these units because I found 1 bedrooms from an owner instead. Being I will use and not trade and I was not concerned about trading the lower maintenance fee of $577 was a better choice for me.

This resort can also accommodated the additional people you might travel with if you use your week. There are rentals from timeshare owners, condo owners and a hotel that are part of the community.