What does a newbie need to learn before buying a resale

[SunandFun83]

RSTravels has a thread asking for your opinion on her Hilton Elara purchase from he developer. She was lucky enough (probably sent here by a friend) to find TUG in time to rescind. She said great now I can buy a resale. What do you all think a newbie should learn before buying resale.

I told her rent 4-5 times at probably 3 brands (I forgot to say LMR here)
Read the thread here asking people what the best brands are. I think it is Marriott, Westin, Hyatt. I don't know much about Hilton
Pay the $15 to support TUG. She saved at least $15,000 by getting out of a bad $25,000 purchase
Maybe take 2-3 years to have just average knowledge on timeshares.

Let's hear from you kind TUGGERS. Anyone who says buy a resale right away probably has a week for sale (LOL)

 

[VegasBella]

I think they need to know what their goals are for timeshares. Why are they interested in buying?

After they list their reasons, then that directs the rest. For instance, if their reason is they want to return to their 'home resort' as much as possible and they already know where they want to buy then I don't think they need to rent before buying. In that situation, they need a good way to determine a fair price and they need to know the process of buying resale and they need to know where and how to get a good deal.

Or say they want to travel a ton and they just want good deals. Well maybe in that case it makes the most sense to learn about various points systems, exchanging, renting, and last-minute vacations.

 

[Panina]

RSTravels has a thread asking for your opinion on her Hilton Elara purchase from he developer. She was lucky enough (probably sent here by a friend) to find TUG in time to rescind. She said great now I can buy a resale. What do you all think a newbie should learn before buying resale.

I told her rent 4-5 times at probably 3 brands (I forgot to say LMR here)
Read the thread here asking people what the best brands are. I think it is Marriott, Westin, Hyatt. I don't know much about Hilton
Pay the $15 to support TUG. She saved at least $15,000 by getting out of a bad $25,000 purchase
Maybe take 2-3 years to have just average knowledge on timeshares.

Let's hear from you kind TUGGERS. Anyone who says buy a resale right away probably has a week for sale (LOL)

I prefer not to put timelines on knowledge.

I think saying to rent 4-5 times and waiting 2-3 years is not necessary. Timelines are different for everyone. Some can research and figure out and understand a system in a week, others it can take year. Visiting a resort you might realize the first time you rent, I love this place and I want to go every year and owning is less then renting. If you don’t rent for two years the savings can pay for the timeshare.

I believe you should research and fully understand what you are buying. Understand how timesharing works at the resort you purchase as well as what trades you can get if you decide to trade. Make sure you can afford all the costs associated with ownership and trading. If renting costs less then owning it’s not a good timeshare to own. Visit the place or places within the system and make sure you like it and it meets your needs.

 

[PigsDad]

I don't see what would take 2-3 years to learn about a timeshare system. All the information is readily available and personally I think I could become quite competent and know the basic to medium/advanced ins and outs of any timeshare system in 2-3 days instead of years.

The biggest thing to me is if they know how they like to travel -- how far in advance can they plan, what is their approximate annual budget, what is their purchase budget, where do they like to travel, etc. If they have a good handle on that, then they are ready to find a timeshare system that will work for them (or not).

In my personal experience, I knew very little about the Hilton system when I went on a "preview weekend" and ended up signing a contract at the presentation. When we got home, I researched the purchase and the system more, found TUG (on my own via Google -- no one sent me here), and rescinded my contract. Within 3-4 weeks, we were talking to a resale broker and purchased our first timeshare. And no, I am not looking to sell it.

Kurt

 

[AwayWeGo]

The only things we learned about timeshares before buying 1 were (a) timeshare condos are way nicer than hotel accommodations, & (b) there is no such thing as a new timeshare (because by the time any owner shows up & checks in, other people will already have been staying previously right there in that very timeshare unit -- i.e., it's used-used-used any way you shake it).

Because they're all used by the time you get there, the idea of paying new prices for timeshares was a complete non-starter. So we took the timeshare plunge by being a timeshare -- resale all the way.

That was in 2002. Ever since, it's been learning by doing, & by paying attention to TUG & TUG-BBS.

The way it has worked out so far has pretty much been vacationing in luxurious timeshare condo vacation units at Motel 6 & Super 8 rates.

Is this a great country or what ?

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

 

[SunandFun83]

Took me 5 minutes to find this very hard to rent New Year's Week at Hilton Elara. $1,300 for the 1 BR 12/28 check-in. I wonder how many good deals a knowledgable timeshare traveler can find in a week of planning. I think renting and learning is much cheaper than being committed to the wrong timeshare system. Of course, I admit that I know very little about Hilton.

https://www.redweek.com/posting/R792813


As a Hilton dummy, I went to find President's Week at the Marriott Grand Chateau for $1,450

https://www.redweek.com/posting/R695678

I am 10 years and 30 weeks vacationing at timeshares into this and still learning every year. For instance I rented 5 weeks at Westin Lagunamar for my family and friends this month. I do not want to own in Mexico because the political / crime situation can change any year. I feel safe here now, what about in 2-3 years.