If you were a young family in my shoes starting out today, how would you approach TS?
I was an early-ish adopter of airBnB (so maybe 12+ years now) and used them exclusively over many years. However, as my family has grown and the level of inconsistency from places and demands from hosts has increased, I've been booking hotels more and more (yeah hosts having me clean the house/beds are the last straw). Especially having something like a pool or playground is pretty critical for our travel needs at this stage. So if I'm already spending the money I thought maybe a timeshare might make sense if we can rent it out for a net positive when we're not using it.
1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
In general for vacationing we are somewhat flexible. We are a military family and move around a lot so we need some flexibility for the next 6-10 years. Our timeshare usage would fall into a few categories;
Probably trade more than half the time. We need flexibility because of moving frequently.
3) What are your 5 top trade destinations?
Hawaii (current residence), Panama City (to visit family), Atlanta (to visit family) or a compromise to ATL would be a Hilton Head/Outer Banks or somewhere in the TN mountains. We would consider outlaying some cash for something in the North Shore but those seem non-existent.
4) How many people do you usually travel with - total, including yourself?
Our immediate family is 6 but my Dad vacations with us frequently so probably 7.
5) Can you travel any time, or are you locked into the school schedule?
school schedule
6) Can you make firm plans 12 or more mos. in advance?
"yes". Subject to change if my husband has to go TDY. I could still go without him if there wasn't a way to cancel, but it would be inconvenient.
7) Can you vacation for a full week at a time?
yes, about once a year and sometimes twice a year, but most of our trips tend to be 4-5 days
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
3-4. Would prefer a place with a year round or indoor pool to keep kids entertained.
9) How much can you afford to spend upfront, without financing?
Looking strictly to pick up a free (or very low) timeshare someone would rather be rid of. The only one we might purchase is if one existed on the North Shore (up to 15k).
10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
Up to $1500. Could increase the amount if it's clear we're saving money this way.
11) Are you a detail oriented planner?
yes
12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
To be honest, I don't fully grasp why they are notorious to get out of. Can someone point me to a thread or article that talks about exit strategies? For those of you who already own, how do you plan to divest? This is a big reason why I'm only looking to pick up a "free" timeshare right now.
13) Other
I'm very interested in learning things like points arbitrage and how to maximize that. It seems like there are a lot of systems/points to learn and I don't know where to start. Additionally, if anyone has advice or experience on renting their weeks for profit, I'm interested in that as well.
I was an early-ish adopter of airBnB (so maybe 12+ years now) and used them exclusively over many years. However, as my family has grown and the level of inconsistency from places and demands from hosts has increased, I've been booking hotels more and more (yeah hosts having me clean the house/beds are the last straw). Especially having something like a pool or playground is pretty critical for our travel needs at this stage. So if I'm already spending the money I thought maybe a timeshare might make sense if we can rent it out for a net positive when we're not using it.
1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
In general for vacationing we are somewhat flexible. We are a military family and move around a lot so we need some flexibility for the next 6-10 years. Our timeshare usage would fall into a few categories;
- "staycations" a few hours from where we are likely to be stationed. Most likely places are Hawaii, California, and the Southeast
- trips to get together with extended family which is likely to be the Southeast (sleeping 8+, or 2 units in the same building) and the North Shore of MA (sleeping 6)
- if a place exists very near where we live, getting one for putting up extended family that comes to visit (sleeping 2-4)
Probably trade more than half the time. We need flexibility because of moving frequently.
3) What are your 5 top trade destinations?
Hawaii (current residence), Panama City (to visit family), Atlanta (to visit family) or a compromise to ATL would be a Hilton Head/Outer Banks or somewhere in the TN mountains. We would consider outlaying some cash for something in the North Shore but those seem non-existent.
4) How many people do you usually travel with - total, including yourself?
Our immediate family is 6 but my Dad vacations with us frequently so probably 7.
5) Can you travel any time, or are you locked into the school schedule?
school schedule
6) Can you make firm plans 12 or more mos. in advance?
"yes". Subject to change if my husband has to go TDY. I could still go without him if there wasn't a way to cancel, but it would be inconvenient.
7) Can you vacation for a full week at a time?
yes, about once a year and sometimes twice a year, but most of our trips tend to be 4-5 days
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
3-4. Would prefer a place with a year round or indoor pool to keep kids entertained.
9) How much can you afford to spend upfront, without financing?
Looking strictly to pick up a free (or very low) timeshare someone would rather be rid of. The only one we might purchase is if one existed on the North Shore (up to 15k).
10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
Up to $1500. Could increase the amount if it's clear we're saving money this way.
11) Are you a detail oriented planner?
yes
12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
To be honest, I don't fully grasp why they are notorious to get out of. Can someone point me to a thread or article that talks about exit strategies? For those of you who already own, how do you plan to divest? This is a big reason why I'm only looking to pick up a "free" timeshare right now.
13) Other
I'm very interested in learning things like points arbitrage and how to maximize that. It seems like there are a lot of systems/points to learn and I don't know where to start. Additionally, if anyone has advice or experience on renting their weeks for profit, I'm interested in that as well.
