Did I make a mistake?

[Lolo7]

I just purchased a TS at Massanutten Resorts.

I purchased a one bedroom, with 2 weeks yearly. One for week one and one floating. I also got the Gold Cards.

I paid $10000. With a yearly MF of $425.

I fully intend to use the resort. I went knowing they were going to try to sell me something and figured it would be for that particular resort. I didn’t know about RCI and the ability to trade for stays at other resorts. I already knew I wanted something that would allow us to use the resort frequently and at a reduced rate and when I learned about the RCI connection and the ability to stay at other resorts for $249 a week I decided to do it. But now I’m having second thoughts after googling and seeing so many unhappy TS owners.

We are skiers and bikers and are looking forward to using our weeks there for that along with the discounts on overnight and short stays. We live within a couple of hours of the resort and it is easy for us to go frequently.

In my mind I imagine us going up frequently during the winter for ski weekends and getting the discounted rate for being owners, using one of the weeks as a vacation there and trading the other in to go somewhere else for a week.

Im seeing a lot of posts and suggestions to look for people who are trying to get out snd buy directly from them. But I don’t think the Gold cards are transferable and that “country club” type deal was really what I was looking for. I’m not overly concerned about never being able to get rid of it as I’m not really looking at this as some sort of investment. I want to enjoy the resort, relax, and make memories.

I still have time to rescind and am contemplating what I should do. Any thoughts from those with more experience?

 

[DeniseM]

Yes - it's a mistake because you can buy the same thing on the resale market for a fraction of the cost. Rescind today, and then come back here to learn about buying resale.

 

[tschwa2]

You could probably get the same unit you bought for $1 with the old owner paying MF's for at least one year. You would lose the gold card. The short discounted stays are only in the hotel units (not any of the resort units) which I hear are pretty crappy. So the question is- are the gold card benefits worth $10,000 to you? I live about 3 hours away so I would never go for day use without staying and I don't think I would ever want to stay in the hotel section; so the other benefits translate to less than $250 per year on a year when I go out of the way to use the discounts- which usually makes me spend more.

 

[geist1223]

Yes.

 

[bogey21]

I purchased a one bedroom, with 2 weeks yearly. One for week one and one floating. I also got the Gold Cards.

I'm not familiar with Massanutten but if Week One is a Fixed Week, is important to you and difficult to find, it might not be a bad deal. Also depends on your financial condition. Is $10,000 everyday spending money or do you have to scrape to come up with it...

George

 

[Passepartout]

I concur. You can easily get 90% of the usable benefits (less the gold card) for 1-or 2% of the expense. There is no difference between the membership purchased at resale and the one bought from the developer- except the price. It isn't like one is 'used', and one is 'new'. ALL timeshares are used.

@Lolo7 it's your money, and how you choose to spend it is your prerogative, but this is the ONLY opportunity you'll get to cancel the sale and save the money for another use.

Jim

 

[tschwa2]

Your current deal will always be there and if you try resale (you can get a way better week) and find that you really want the gold card benefits you will be able to get an equal or better deal from the developer and will be able to trade in your resale week or give it away.

To keep your MF's under $500, you will want to look at an EOY 4BR 1-52 summit float- you can get it so you get 4 BR every year and you would deposit half or the whole unit because if you pick a good week you can get 1-4+ weeks (with a $169 exchange fee for each week) for each half or one enrolled in their internal system so you get 2BR full kitchen one year and 2 BR partial kitchen the next. The other option if you don't want a 2 BR (mainly because of the per night per bedroom resort fee, you could probably find an EOY 2BR Woodstone casa either in points or weeks but it is fixed week so you would want week 52 or a mid summer week for the best trading power.