Newbie avoid the obvious mistakes
It used to be that the obvious mistake of buying from the Developer was that the cost had built into it an unstated 50% sales commission. So if you bought from the developer for $30,000, the property was probably worth $15,000 at most. Most tuggers as of 3 years ago would be on safe ground to say $7,500. Now today, you can buy a Hyatt for $250 on ebay or get one for free. What does not indicate? Do not buy? Owners are giving away timeshares, and if you are willing to wait, you will see this even more.
But wait, you say, I am willing to buy now for $250, plus $499 ebay escrow,etc.
Why? I guess you feel like a lot of us that real estate ownership for less than $1,000 is great. I would take a wild guess that at least 50% of tuggers would agree if you get a good location, a good season, and most important a place you want to return to for 10 years or so. Here is why 50% of tuggers would disagree. Why spend capital and buy within just one time share group say Hyatt, Marriott, Westin,etc. You limit your priority trades. Think of travel choices , and the flexibility to not have to spend money on maintenance fee and feel locked into just one location; be free to travel to a destination like most cities, that have hotels but no timeshares. This is really true of major Europe cities, but also Los Angeles, to some extent New York. Even if the city has a timeshare you could trade to for just maintenance fees and an exchange fee, how many better vacations for less money are available on the Tug exchange board with 60 or less days of notice for $700 or even less.
Solution: Rent a Timeshare on Tug. You can rent in the neighborhood of the cost of annual maintenance fees. Oh by the way, maintenance for Marriott Desert Springs1 just increased from $1036 to 1225 a year, plus property taxes of $80. I point this out because until 2012 MF statements, I had heard of maintenance fee increases and special assessments, but that kind of thing only happens to the "other people". Go on the Tug Marketplace, and locate listings for a particular week at the location you want, or try calling within the Resort Name you want to visit that merely says floating week 1-50 and you will get a respond that will tell you exactly how non-special the timeshare you want to buy really is. Oh yes, I recommend for at least 3 years rent and stay at different timeshares to broaden your base of personal experience. If you are like me, every time I stay at a timeshare I fall in love with it, and spend far too much time thinking how I can buy it, even if I somehow miss the timeshare presentation. Spend time around the pool and hot tub and you will hear amazing stories from owners and exchangers why their timeshare is the best.
Bottom line, I recommend you join Tug and then put out requests for information that we can respond to through a private message and you
will be surprised at the timeshare offers would might get. Go on the marketplace, I am unsure if you need to be a member, but I recommend it anyhow, and put in a wish request for several different timeshare locations and weeks, and you will definitely get a lot of responses.
Enjoy the journey, and at least for the mean time the expression that is spreading is why buy when it is cheaper, easier, and less restrictive to rent in uncertain times. Emotionally, I need to own my home. A timeshare is in many more ways a contractually concept that is best not to be emotional over. Rent it, use it, and keep your options open for the near future.
