Friend asked me how i go on 'all these vacations' last night

[Ridewithme38]

I explained that there are hundreds of Timeshares on Ebay for $1 and they were shocked and amazed....she is a divorce attorney and had just negotiated a Disney TS in a divorce and they both the people getting divorced still wanted it....

But here's the question: He said when he was a kid, his parents used to take him to Disney every year and he'd really like to do that with his kids....I suggested Bonnet creek, because the Disney Timeshares are crazy expensive and it gives the option of traveling to other areas, but i didn't go into the points structure or how it works....But i don't know that that would be the best fit for him, i only know bonnet creek and what I've seen of the Disney resorts

BUT, is the general belief that it's not a good idea to BUY in Florida, even if you plan to travel there every year? Since there are so many TS's that you can trade in any year and something about a regional block that i've never understood?

AND

If you had a friend who wanted to go to Disney every year with his 2 kids(4 and 1) where would you suggest he buy a TS?

 

[momeason]

Sumday Vacations has lots of Bonnet Creek Inventory on their site. Bonnet Creek is Wyndham and the MF there are on the higher end,. Smoky Mountains, Las Vegas, National Harbor and San Francisco have low Maintenance fees as well as Panama City. The latter 3 are all still selling so it is not a given that the MFs will stay low. Many TUGGERS think SF and NH will stay low as it takes a lot of points to reserve a unit. Bonnet Creek is an easy trade so I don't think you would want to own there and pay those MF.
Someone has posted a grid of all MF in Wyndham resorts. You could look for that. I wish I had seen it before I bought. I really wanted II though so my choices were limited. I own at a nice resort, Royal Vista, but my MF are on the higher side.It is a higher demand resort but I have not been there in the 5 years I have owned. I have considered trying to sell and buy another package but it seems like a lot of trouble.
Buy one with low MF and he will be able to resell later.

 

[hypnotiq]

Yes, but if they want to go to WDW every year and are stuck to school schedules, they may want to buy @ Bonnet Creek for ARP purposes.

 

[ronparise]

Bonnet Creek is big..with a little advance planning there is usually no problem getting a reservation...ex: If you want Christmas this year there is plenty of availability right now...

Also Bonnet Creek mf is not very high...Its not the lowest in the system but at about $5/1000 points, better than average

The reason I dont like Bonnet Creek is that too many others do, and they bid the purchase price way up

 

[hypnotiq]

The reason I dont like Bonnet Creek is that too many others do, and they bid the purchase price way up

When I was looking at Wyndham points a couple months ago, I did notice that as well.

 

[Ridewithme38]

You know what i realized today that i should have told them when we were all drinking at the bowling alley? THIS IS A LIFETIME COMMITMENT, if you REALLY want to buy, understand that you MAY never be able to sell

I'll talk to them again soon

 

[massvacationer]

I don't own at Bonnet Creek, but I think one argument for buying Bonnet Creek points is that they should be easy to sell - so the exit strategy should be easy. It's such a popular resort and has so much exposure, that people (perhaps somewhat irrationally) tend to favor it for purchases over other Wyndham resorts - and they tend to bid the prices up higher.

As Ron says, the maintenance fees are actually pretty reasonable there, slightly below average (I estimate the average maintenance fees in the Wyndham network to be around $5.40 to $5.70 including the program fee). However, it is amenity-rich and will fees probably go up once it is sold-out by the developer.

I also the Club Wyndham Access is worth a look. These should be pretty stable and you won't have to worry about Special Assessments.

 

[ronparise]

I don't own at Bonnet Creek, but I think one argument for buying Bonnet Creek points is that they should be easy to sell - so the exit strategy should be easy. It's such a popular resort and has so much exposure, that people (perhaps somewhat irrationally) tend to favor it for purchases over other Wyndham resorts - and they tend to bid the prices up higher.

As Ron says, the maintenance fees are actually pretty reasonable there, slightly below average (I estimate the average maintenance fees in the Wyndham network to be around $5.40 to $5.70 including the program fee). However, it is amenity-rich and will fees probably go up once it is sold-out by the developer.

I also the Club Wyndham Access is worth a look. These should be pretty stable and you won't have to worry about Special Assessments.

good points

Your exit strategy is much better than mine...I subscribe to the greater fool theory....If I was dumb enough to buy this stuff, ther has to be at least one more guy out there dumber than me

 

[momeason]

If you want Bonnet Creek, go to the Sumday Vacations website. They have very reasonable buy it now all costs included contracts.

www.sumdayvacations.com

 

[malonem68]

Since Disney is so easy to get into for the most part why not pick up a timeshare in another location that can trade into there for the next 15 years? And when I say pick up...I mean a free one.

The reason I mention it is that I have 3 kids and they aren't getting any younger. We have done disney A LOT!! I thought I was the only one getting tired of it but my 13yo mentioned this year he was tired of going there as well.

So, my point simply is, if Orlando is not a great trader (which is just what I hear, I don't know for sure) there are plenty of other tiger traders out there that you can pick up for nothing....or next to nothing and get exactly what you want with reasonable mf's to boot. (of course there is additional cost to trade which could be offset by purchase price)

In that case, when the kids get older, there may be more options available for trading. And like you said, it is a lifetime commitment....you can't think your kids are going to be 4 and 1 forever. (Though I still have trouble with that concept and mine are 18, 13 and 10)

 

[AgelessTravel]

I was planning on buying in Orlando before I found this forum, but ended up buying Myrtle Beach summer week. I'm so happy I did, because it gives me enough points to exchange into any Orlando property including Disney resorts.

If your friend buys in Orlando and wants to trade into Disney he won't be able to because of the regional block.

I would personally buy a stronger trader with lower maintenance fees, that way he can still go to Orlando and trade into other locations when he gets tired of Disney.

 

[MichaelColey]

For anyone considering buying their first timeshare, I always suggest renting the timeshare they are considering buying (and potentially a few others) FIRST. Most will probably LOVE it, but everyone is different. Renting usually isn't much more expensive than owning, and there's no ongoing commitment.

 

[pkyorkbeach]

A thought for anyone thinking of getting into Timesharing. Trading is not for everyone. The friend may want to go to Disney every year, then a Disney or nearby timeshare might be best. Unless they are a person who enjoys browsing the interent, checking online sites, asking questions on TUG, a trade may not be for them.

My friend had a timeshare that they used for twenty years, only once did they trade through RCI. Once was enough times to trade, there was no interest in all the work that it took.

To conclude my point is trading is not for everyone.

 

[NiciMeyers84]

For anyone considering buying their first timeshare, I always suggest renting the timeshare they are considering buying (and potentially a few others) FIRST. Most will probably LOVE it, but everyone is different. Renting usually isn't much more expensive than owning, and there's no ongoing commitment.

I really prefer the idea of renting, as long as the price between buying and renting isn't too dramatic. That way if I'm struggling to get my barrings of the area or I'm on the fence about the TS altogether, it's easier to move on a find something that suits me and is really worth the buy.

 

[djs]

You know what i realized today that i should have told them when we were all drinking at the bowling alley? THIS IS A LIFETIME COMMITMENT, if you REALLY want to buy, understand that you MAY never be able to sell

I'll talk to them again soon

Make sure to tell him that divorcing one's spouse is MUCH easier than trying to divorce one's timeshare.

 

[Ridewithme38]

Make sure to tell him that divorcing one's spouse is MUCH easier than trying to divorce one's timeshare.

Haha, i'm not sure if that true in his case....His wife is/was a divorce attorney...Now she's taking a break after having the second kid....

I think I'm going to see them again tonight, if i can get off the couch....i've got to make sure to drive the point home not to buy Disney or any Timeshare Retail

 

[TamaraQT]

I was planning on buying in Orlando before I found this forum, but ended up buying Myrtle Beach summer week. I'm so happy I did, because it gives me enough points to exchange into any Orlando property including Disney resorts.

If your friend buys in Orlando and wants to trade into Disney he won't be able to because of the regional block.

I would personally buy a stronger trader with lower maintenance fees, that way he can still go to Orlando and trade into other locations when he gets tired of Disney.

Do you mind if I ask where you own at Myrtle Beach. I am looking to pick up another timeshare. This time I want to own outside of Florida, and it sure would be a HUGE bonus if it trades into Disney. My intentions is to use it for trading power only. Which resort do you own in at Myrtle Beach?

 

[Ridewithme38]

edited....

 

[amyhwang]

I also agree that they should rent first and see how they like the resorts!

Also, they can rent from redweek - often it's a great deal! I've gotten a Disney one bedroom at the Boardwalk kind of last minute for $200 a night rental over Christmas last year. It was tight for the 4 of us, but nice to be right there.

We have II (with our Marriott Ko Olina) and I do at least 2 getaways a year - they are killer deals (like less than $400 for a week). So if they get into II (I'm not familiar with RCI) that is a great way for bonus vacations! I would have to say that is the nicest part of owning (other than our week at Ko Olina which we love).

 

[momeason]

[2nd warning - you cannot advertise in the discussion forums. - DeniseM Moderator]

 

[Ridewithme38]

I also agree that they should rent first and see how they like the resorts!

I'm considering buying them one of those 5 year guest certificate things from RCI so they can get an idea of whats out there...Be nice if i could just add a 'guest account' onto my RCI account so they could look around

 

[cmh]

I'm considering buying them one of those 5 year guest certificate things from RCI so they can get an idea of whats out there...Be nice if i could just add a 'guest account' onto my RCI account so they could look around

Just give them your logon info and they can easily look around the RCI site. For a couple years before my uncle transferred his ts to me, that's what we did. With a guest cert in place, I found the ts and booked them online. The confirmation went to his email address and he would forward it on to me.