Dont know anything about timeshares but would like to get one

[James84405]

I almost got screwed over with sapphire resorts in vegas but was able to cancel before the 30 day grace period. I would like to get about 12 days a year worth of points. I usually go on a 5 day vacation on my anniversary and take 4-5 weekend trips to the beach to escape the heat during the summer. I was looking into worldmark because they have a nice resort in pismo where I go to escape the heat, next year I plan on going to hawaii since covid ruined that this year for my anniversary.

 

[TheTimeTraveler]

I almost got screwed over with sapphire resorts in vegas but was able to cancel before the 30 day grace period. I would like to get about 12 days a year worth of points. I usually go on a 5 day vacation on my anniversary and take 4-5 weekend trips to the beach to escape the heat during the summer. I was looking into worldmark because they have a nice resort in pismo where I go to escape the heat, next year I plan on going to hawaii since covid ruined that this year for my anniversary.

Never heard of a 30 grace period but you are none the less lucky to be out of it.

My suggestion for anyone is to rent where you'd like to own. Then, if you like it, give some consideration to possibly buy there.

BE SURE TO BUY A RESALE TIMESHARE in order for you to save maximum dollars!

Welcome to TUG!



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[James84405]

Never heard of a 30 grace period but you are none the less lucky to be out of it.

My suggestion for anyone is to rent where you'd like to own. Then, if you like it, give some consideration to possibly there.

BE SURE TO BUY A RESALE TIMESHARE in order for you to save maximum dollars!

Welcome to TUG!



.

I was wanting to get 10-12k points, as far as I know those points with worldmark can be used anywhere? I'm kinda sketchy cause I'm seeing them on ebay and other sites for very cheap and on redweek they are about $2k-5k. I was going to go to hawaii this year until covid happened. That was 3k for 4 nights in maui, I spend alot on the few weekend golf trips I take every year also.. figured that getting a timeshare might benefit me greatly

 

[davidvel]

I was wanting to get 10-12k points, as far as I know those points with worldmark can be used anywhere? I'm kinda sketchy cause I'm seeing them on ebay and other sites for very cheap and on redweek they are about $2k-5k. I was going to go to hawaii this year until covid happened. That was 3k for 4 nights in maui, I spend alot on the few weekend golf trips I take every year also.. figured that getting a timeshare might benefit me greatly

Where were you going to stay in Maui?

 

[HDiaz1]

I almost got screwed over with sapphire resorts in vegas but was able to cancel before the 30 day grace period. I would like to get about 12 days a year worth of points. I usually go on a 5 day vacation on my anniversary and take 4-5 weekend trips to the beach to escape the heat during the summer. I was looking into worldmark because they have a nice resort in pismo where I go to escape the heat, next year I plan on going to hawaii since covid ruined that this year for my anniversary.

If you plan to use it for 3 day weekend mostly you might be better off renting from owners. I book direct through Wyndham (hotels) or Extra Holidays too. Some worldmark locations are cheaper to book paying cash than it is using points if you have a small account (less than 20K points). Also, weekend stays typically cost more points.

 

[James84405]

Where were you going to stay in Maui?

Kaileilei or something like that, I got it through costco travel but was able to cancel it when all this Corona crap happened

 

[davidvel]

Kaileilei or something like that, I got it through costco travel but was able to cancel it when all this Corona crap happened

Never heard of that. Is that a resort or a town? Did the cost include airfare? Most people don't go all the way to Maui for only 4 nights.

 

[rickandcindy23]

I am very concerned the OP might not really have canceled his timeshare purchase in time.

 

[James84405]

Never heard of that. Is that a resort or a town? Did the cost include airfare? Most people don't go all the way to Maui for only 4 nights.

Yeah it was a resort through costco travel, it covered airfare and rental car. A full week was about 5k and that's a bit too much

 

[James84405]

I am very concerned the OP might not really have canceled his timeshare purchase in time.

I cancelled it like a week after I signed the papers, it was through sapphire resorts. I read reviews saying they can't book anything and customer service never answers so I verified that and cancelled. They tried to screw me over but I had a notary and email verification and they couldn't fight that

 

[Passepartout]

James, I would urge you to hang around TUG for a while. Read more, post less. Timeshares are luxury goods. They are expensive- even if you get them for free. The costs and fees add up and continue long after the joy of use wears off- and you can't just walk away when you get tired of it or a life change (COVID-19 anyone?) or just the ever increasing cost of airfare to get to it, or it becomes difficult to book a week that doesn't interfere with Junior's soccer game or his sister's prom.

Answer the questionnaire at the top of this forum, and post it in this thread. It will help us help you zero in on what you want, though there are some of the questions are a little too narrow for my taste.

Good Luck. Happy Hunting1

Jim

 

[DaveNV]

James, I think you may be mistaking Worldmark and Wyndham.

WorldMark owns two resorts on Maui, one on the Big Island, and one on Kauai. They are hugely popular among the membership, booking out immediately over a year in advance, and none are likely to be ever be made available for a rental on Costco.com. There isn't enough availability to offer rentals packages like that. Wyndham owns WorldMark, which may be where the name confusion comes in, but they operate as mostly separate companies.

WorldMark owns about 90 locations, mainly in the western part of the USA. It is a pure points system, without underlying deeds to any particular resort. You pay maintenance fees based on how many points (credits) you own. For those who like short stays, WM works well, but you need to be willing to stay where the WM resorts are located. You can exchange out to companies like RCI and Interval International (II) but that is an entirely different conversation.

In contrast, Wyndham owns everywhere, and availability is such that I think that is what you saw at Costco. Wyndham ownerships are at specific resorts, with underlying deeds that have maintenance fees based on owned unit sizes at that resort. The fees you pay can vary, depending on how that resort is operated. As a Wyndham owner, you can exchange to a lot of places, as well as with RCI and II, and there are resorts on all the Hawaiian Islands.

@Passepartout makes a good point: Hang around Tug and read more. Renting from an owner in different systems is a great way to learn what works, and what doesn't, for you and yours. Resort quality can vary widely, and owning in any system has its own merits for staying at other resorts in that same system.

There is no reason to rush, as resale timeshares are available every day of the week. There is no difference to you between "new" and "used" in timeshare ownership, because even if you bought a brand new resort from the Developer at big bucks pricing, by the time you get there, someone else has already slept in that bed. Resale is the only way to go. Bargain deals come and go, and if you miss out on one deal, another just like will be along shortly. As you have learned, it is easy to get into timeshare ownership, but it can be very difficult to get out of one. The eBay sales prices you are seeing are real (but be sure to check Completed Listings to see what that deal actually sold for.) I bought 12K WorldMark credits on eBay, with a fully loaded account (36K credits available to me once it transferred) on eBay for $1500, including all the transfer fees. That deal is really good, but I've seen better.

Good luck with your search. You're in the right place to learn plenty - Tug is filled with thousands of owners who have decades of experience, and no agenda. This is a fantastic learning site.

Dave

 

[geist1223]

A correction Wyndham does not "OWN" Worldmark. Year's ago Cedent bought Trendwest and thus bought the Development Rights. Due to some questionable business practices Cendent broke up and part of it became Wyndham. Wyndham buys Resorts and brings them up to Worldmark Standards and then turns the Deeds (debt free) over to Worldmark; or, Wyndham develops whole new Resorts and then turns them over to Worldmark debt free. Either way Wyndham then has the right to sell the Points/Credits from these Resorts. Wyndham can not use the Deeds of the Worldmark Resorts to secure financing.

As a separate matter ( and unlikely ever to change) the Worldmark BOD retains Wyndham to be the day to day Managers of the Resorts.

Worldmark consists of the Members, BOD, and Resorts. Worldmark has no employees.

I would agree that for most people buying resell is the best way to go and gives you a substantial cost savings. Buying Worldmark resell gives you full access to the 90+ Worldmark Resorts. When more Worldmark Resorts are added you have access to them. You also have access to cash options such at Bonus Time, Monday Madness, and Inventory Specials.

The only two worth while options you get by buying Worldmark from the Developer are Club Pass (being able to Book Directly into certain Wyndham Resorts with Worldmark Points); and, being able to Book Directly into Wyndham (formerly Worldmark) South Pacific without having to use RCI or II. WSP has numerous Resorts in Australia and New Zealand. We have been Down Under 4 times in the last 10 years. We spent most of February in Tasmania and Melbourne.

 

[DaveNV]

A correction Wyndham does not "OWN" Worldmark. Year's ago Cedent bought Trendwest and thus bought the Development Rights. Due to some questionable business practices Cendent broke up and part of it became Wyndham. Wyndham buys Resorts and brings them up to Worldmark Standards and then turns the Deeds (debt free) over to Worldmark; or, Wyndham develops whole new Resorts and then turns them over to Worldmark debt free. Either way Wyndham then has the right to sell the Points/Credits from these Resorts. Wyndham can not use the Deeds of the Worldmark Resorts to secure financing.

As a separate matter ( and unlikely ever to change) the Worldmark BOD retains Wyndham to be the day to day Managers of the Resorts.

Worldmark consists of the Members, BOD, and Resorts. Worldmark has no employees.

I would agree that for most people buying resell is the best way to go and gives you a substantial cost savings. Buying Worldmark resell gives you full access to the 90+ Worldmark Resorts. When more Worldmark Resorts are added you have access to them. You also have access to cash options such at Bonus Time, Monday Madness, and Inventory Specials.

The only two worth while options you get by buying Worldmark from the Developer are Club Pass (being able to Book Directly into certain Wyndham Resorts with Worldmark Points); and, being able to Book Directly into Wyndham (formerly Worldmark) South Pacific without having to use RCI or II. WSP has numerous Resorts in Australia and New Zealand. We have been Down Under 4 times in the last 10 years. We spent most of February in Tasmania and Melbourne.

Thanks for carifying. I should have been more clear about the distinctions between the two companies. You've given a lot more information here than I thought OP may have wanted to know right now, until he was clear that WorldMark and Wyndham are not the same thing.

Dave

 

[b2bailey]

James, yes take a deep sigh of relief and pat yourself on the back for getting out of the Developer purchase. Two thoughts -- you mention Pismo Beach. I'm not sure if you would be able to get the weekends on a regular basis. A Worldmark owner would need to share their experiences.

Second, I think many of us are wondering if Covid-19 will be the final straw for owners who have been on the fence about leaving Timesharing behind. It would be a good thing to wait and see what deals may be available later in the year.

Oh, and one more thing -- I would never take a trip to Hawaii for less than 10 days. Too much time and $$ getting there for a short stay.

 

[James84405]

So I found one for a decent price, south lake tahoe and it's only 4 hours from my house, maintenance fees are 600 a year.. it's a 2br 2ba and I was thinking I could get a decent amount of points if I trade it on rci if I wanted to go elsewhere

 

[travelhacker]

So I found one for a decent price, south lake tahoe and it's only 4 hours from my house, maintenance fees are 600 a year.. it's a 2br 2ba and I was thinking I could get a decent amount of points if I trade it on rci if I wanted to go elsewhere

Don’t jump into anything just yet. Take your time to study things because it is a very long-term commitment.

If you like the idea of RCI points you can get a great deal by being patient.

I got a week for 7.50 (eBay) that gives me 137000 points every year. The maintenance fees are less than 900. So far it’s been awesome. I’ve booked 3 weeks and still have points to spare in this use year.

I can’t imagine resale prices (for any timeshare or timeshare system) going any higher for the foreseeable future.

 

[Priscilla]

Don’t jump into anything just yet. Take your time to study things because it is a very long-term commitment.

If you like the idea of RCI points you can get a great deal by being patient.

I got a week for 7.50 (eBay) that gives me 137000 points every year. The maintenance fees are less than 900. So far it’s been awesome. I’ve booked 3 weeks and still have points to spare in this use year.

I can’t imagine resale prices (for any timeshare or timeshare system) going any higher for the foreseeable future.

Which resort if you don’t mind me asking. I’m looking around and seriously considering buying a timeshare. A part of me feels like I should wait for the new year but the urge to buy is very real.

 

[CPNY]

Which resort if you don’t mind me asking. I’m looking around and seriously considering buying a timeshare. A part of me feels like I should wait for the new year but the urge to buy is very real.

The newly desirable massanutten resorts. Hard to come by. People love what they know, the Grandview units. The massanutten units have high point values for the redweeks.

 

[Priscilla]

The newly desirable massanutten resorts. Hard to come by. People love what they know, the Grandview units. The massanutten units have high point values for the redweeks.

I have seen so many Massanuten resorts listed for sale for absolutely nothing. I have attended a timeshare tour there as I live within driving distance but didn’t buy thank goodness. They gave us the free 3 nights/4 day stay with indoor pool tickets.

I personally know folks who bought from the developer and haven’t been able to use it. Maybe they just aren’t putting in the work it takes to research the usage, or probably the kind that they own doesn’t translate to points.

 

[CPNY]

I have seen so many Massanuten resorts listed for sale for absolutely nothing. I have attended a timeshare tour there as I live within driving distance but didn’t buy thank goodness. They gave us the free 3 nights/4 day stay with indoor pool tickets.

I personally know folks who bought from the developer and haven’t been able to use it. Maybe they just aren’t putting in the work it takes to research the usage, or probably the kind that they own doesn’t translate to points.

All of the resorts that don’t have points are generally free. The high value point contracts with low maint fees are the desirable units. This is where the massanutten resorts, particularly the regal vista phase is desirable. The woodstone would be next. Other weeks ownerships like the colonies and Williamsburg plantation are popular as well due to the high TPU and TDI I RCI and II. Plus some like the dual affiliation in both exchange companies. Just remember that dual affiliation means dual membership fees if you decide to be in both exchange systems. Other people go for high value MVC or Vistana trader units. Popular for MVC trading is owning MGC in Vegas or SDO or SBP in vistana. Most of the ownerships that people have are used to trade. If there is a single resort and time you know you want to go every year then buy there, you can’t go wrong. Not that it’s frowned upon to buy a unit just to trade, but the general rule is to buy where you want to go. Personally I own all of my units to go to other destinations with the points associated with the ownerships. That works for me