Is accumulating timeshares really worth it?

[bogey21]

We bought fixed weeks in locations that we love and will be able to travel to even as we age. We can always trade for out of the country by planning at least a year in advance, otherwise, we always know when and where we will be. It is really like having your own vacation home in 4 different locations. We bought in Palm Dessert, CA, Park City, Utah, Ruidoso, New Mexico and New Orleans, LA.

This is exactly what I did without the Marriott ownership. My Weeks were in Deerfield Beach, FL; Myrtle Beach, SC; Biloxi, MS; also Ruidoso, NM; Mesquite, NV; and Boloxi, MS. MFs were low at all of them. It worked well for me but now (age and health) I no longer own them...

George

 

[elaine]

It's work and planning if you trade. It used to be fun, and I enjoyed the "hunt." Now it's more of a pain. We had 4 and have divested 2 of them. I still get excellent trades, so I'm happy with 2. Just booked Hilton 2 Br in Hawaii for fall 2021. But that's a long time away and there's a decent chance the trip could be a no go. Having a cash reservation would be much easier, though more $ or I'd need to settle for less luxurious digs. It's a trade off.

 

[MOXJO7282]

It was for us before the pandemic. I've been working a plan to rent most of our 28 units until retirement which is less than 5 years away and then flip the script and use most. That had been working beautifully until for almost 20 years until now. Of all the things I thought could derail me I wasn't considering a pandemic.

 

[Conan]

Of all the things I thought could derail me I wasn't considering a pandemic.

I blame myself for the pandemic. Last year I told my spouse we'll continue to travel independently as long as we're able, another 5 to 10 years if we're lucky, and after that we'll switch to cruise ships to cover what we missed.

Man Proposes, God Disposes - Wikipedia

en.wikipedia.org

 

[csxjohn]

It's worthwhile if:

-At the resorts where you buy, it's cheaper to own than to rent. In overbuilt locations, renting as needed may be cheaper.

To me this is the most important factor. Once you can rent at a resort cheaper than the MFs on that week, you don't need to own there

 

[csxjohn]

I own three units at an independent resort in the Daytona area. The units are all ocean front, we get a great amenities package, daily housekeeping touch up, and activities. All for under $650 for a 2br unit. I also own some Bluegreen pts for the ability to book less than a week but to get a unit comparable to mine at Daytona SeaBreeze which is 2 doors to the south, the fees cost me 3 times as much. I don't use my pts for that resort as there are other that are much more reasonable.

 

[elaine]

-At the resorts where you buy, it's cheaper to own than to rent. In overbuilt locations, renting as needed may be cheaper.

and those overbuilt places are likely to be easy to trade into, as well.

 

[Train]

We own three weeks, one at a ski resort where the deeded unit overlooks the slopes and a gondola at the lobby plaza will take you directly to the slopes. It's also week 10 which in Colorado is the perfect spring ski week. The other two are in Mexico at a resort we absolutely love. We own two deeded week in a ground floor walk-out right on the beach. We would never go to points because we want to be sure we have those units in those specific places on those specific weeks. In Mexico, especially, we have developed friendships with other owners from around the world because we see them there every year. On the other hand, we can understand that the flexibility points offer can be attractive to anyone who wants to travel to different resorts each year and is not concerned about where in the resort they end up.

 

[Travelkat]

[/QUOTE]
I was a Worldmark owner for over 20 years and I loved it, but over the years I felt the quality of the resorts declined and I recently sold it and bought Wyndham which by the way, in case you didn’t know, owns Worldmark. The resorts at Wyndham are much nicer but it takes much more points to book a reservation than Worldmark so I spend a lot more on MF now. I now miss my Worldmark! I hope you enjoy it, the resale value seems to stay pretty consistent.

 

[Bxian]

We got into timesharing in our early 50s-DH is retired and I just semi-retired 3/1. We own 3 HGVC weeks at a resort on the southwest Florida coast. It has become our home away from home. We started with one week with the idea of trading it sometimes. However, we loved the resort and Marco Island so much that we added two additional weeks with the thought that we could visit for longer periods in retirement and also continue to trade at times. I asked a similar question to the one that you have asked a while back-maybe the responses that I got will be helpful; https://tugbbs.com/forums/threads/d...arly-in-retirement.270084/page-3#post-2139302. Of course, we had lots of travel planned for this year because of my semi-retirement and ability to work remotely-all plans have been canceled by the cruise lines, the organizer of a group get together, and friends who want us to come to visit when all the fun stuff in the area of their new retirement home is open. The feedback I got after my request for feedback made me realize that we will either keep things static and rent or add to our ownership with Worldmark points, which appear to offer lots of flexibility and would allow for II trades.

 

[Bxian]

I posted a similar question a couple of years ago: https://tugbbs.com/forums/threads/d...-just-prior-to-or-early-in-retirement.270084/. I hope that the responses are helpful. As an update, I semi-retired 3/1, and my husband is fully retired. We ended up buying a 3rd week at the HGVC timeshare that we own on Marco Island. In the past couple of years, we discovered that we liked being there for 2 weeks at a time. The third week will be used to add to our stay for some years, and to trade in other years. Of course, we had 2 cruises and 2 different timeshare stays planned for this year since I have more freedom to travel (or so I thought). Both cruises were cancelled by HAL, and one of the 2 timeshare stays has been cancelled-we had planned to combine it with a stay with close friends who have moved, but they have asked us to postpone in light of current circumstances. I suspect that the other TS stay will be canceled as well. I'm still considering maybe Worldmark points for EOY-just sitting tight for now.

 

[Bxian]

Sorry for the duplicate post-the the first one did not show up initially.

 

[skimeup]

I should start by saying I'm an opera and classical music and museum nut and a retired teacher (read serious budget limitations). All TS bought on secondary market. When I first started with timeshares (2000), I was still working in Los Angeles and found Inn at the Opera (still a private boutique timeshare) right across the street from the opera house in San Francisco. I could go with a friend to a one bedroom and stay in SF for about $400 each in a perfect place. I love SF and bought a couple more at other places, some to use during opera season and sometimes to rent. Found them difficult to rent and eventually disposed of those. I love Sedona and bought at Los Abrigados. So, Inn at the Opera is now run by Wyndham and Shell Vacations (a subsidiary of Wyndham I think). And not run very well I think - but it is still right across the street from the opera house and while the MFs have about doubled (thanks Wyndham), the cost of hotels in SF is so high that sharing with a friend for $700/week isn't so bad. Los Abrigados was part of ILX, which went bellyup during the 2008 depression and was bought by Diamond. Luckily I got out fast. I wouldn't touch anything with Diamond with a 10 foot pole.

Following my interest in cities, I started picking up points with Royal Holiday. I have enough that my MF is as low per point as you can get. That allows me to stay for a reasonable price in New York during opera season (depending on time of year, a one bedroom can be under $175 including tax and fees), additional San Francisco,weeks, San Diego..... RH also has contracts in Paris, London, Rome, Brussels, and other European cities and I've used those a lot. I also occasionally have stayed in mountain communities. I picked up a Hyatt in Carmel and I do like how it trades with Interval - I've gotten the Marriott Boston twice - and I was able to reserve a week in Aspen this summer for the music festival (which is so not happening). However, the Hyatt points system takes an advanced degree to understand and there are extra charges for everything! Charge to reserve; charge to cancel; cleaning charge if you stay less than a full week. And that is just for starters! And in the two years I've owned there, the MF increased about 20%. I'll be getting rid of that soon - will probably keep it one more year hoping for Aspen music festival next summer! With all the timeshares I own and use, though, I'm looking at whether it costs me less to stay in a decent (or better) place than it would to rent. I am fine with airbnb, though I did cancel out of one in Santa Fe this summer - we both agreed we didn't need to be in each others' spaces. I'm not much of a golfing or beachy person; love the mountains but I'm still fine with camping there - and condos aren't so hard to rent in summer. For nature, I like road trips and camping or any cheap motel.

This is a rather long way of saying that what you should own depends on your own travel budget, where you like to go, and how often you want to go there. If you don't want the inflexibility of a fixed week, better to go with points or at least something that floats. If you are going somewhere that generally has too much hotel space, rent on the tug site. If you are going somewhere that has lots of airbnb, consider doing that. If you want to be in Hawaii with an ocean view at Christmas, you'd better buy it!

 

[tomt73]

We currently own nine intervals in two resorts, seven at one and two at another. We started with three bought at a tax foreclosure auction (long story) - wanting 2 weeks around Christmas in my famous-resort home town, and another week to go skiing there. I didn't want to buy the house I grew up in from my parents, and the timeshares preserved capital I invested to provide funds to travel.

My wife, bless her heart, went to an owner-only auction in the late 1990s... without adult supervision. To cut a another long story short, that's where the other four came from. After we retired and moved to the Southwest, she just HAD to buy two intervals just a 45 minute drive away, "because Santa Fe speaks to my soul." All were bought through resale, none for more than 10% of the developer's asking price, and almost all for much less than that.

We use the two Christmas weeks each year. We use the two Santa Fe weeks each year. We swap the rest through RCI, and occasionally rent one or two. We've been all over the US, to England several times, and Italy. As relatively younger "go-go" retirees, we love to travel, and love that our reasonable MFs can get us much more comfortable and "homey" places than just a sterile hotel room.

 

[GTLINZ]

The only reason to own a timeshare is to use it and to find value in using it. This can be accomplished by owning one timeshare or 100.

For many, there is no reason to buy at all. There are many avenues for people to rent the larger accommodations that timeshares feature.

The rational thought in multiple ownership is that some people want specific weeks in specific places and want to guarantee that by owning. A snowbird may want enough weeks or points to stay in Florida over the winter. It may be cheaper to do this via timesharing than buying second home or renting.

There is also a psychological aspect to timesharing. For some, it forces them to go on vacation. Others get "caught up" in them and start collecting them like cars or baseball cards. Some people buy them to rent, turning into mini-vacation bookers. I think many DVC owners just want to be "part of the magic." It makes them feel good.

What timeshare ownership comes down to is if it is worth it to you right now. That's it.

Seriously - I don't think i have ever explained it any better that this ....

There is a risk involved with owning anything. To me you should be deriving more value from the timeshare over a reasonable period of time than it cost to own - or else why do it? And that value has to consider specific weeks, views, locations, etc.

Very well said.

 

[Pair-A-Dice]

My wife and I love going to Hawaii mainly Maui, because we have a two-bedroom unit we almost always have friends or family join us.. Our annual maintenance fees for our Royal Aloha Vacation Club 2 bedroom is now just under $1,000 per year (use to be under $800). This unit sleeps up to 6 people and has ocean views. We prefer to go in January or February when it would cost us $300 or more per night to stay in the same building. We save about $1200 per week. We can also go to other locations outside Hawaii where we break when compared to other rentals on VRBO etc. I would say the best thing is it has given us the opportunity to go to places we probably never would have gone to. We have traveled to Oregon, Lake Tahoe, Branson and three different Hawaiian Islands.

I prefer having a kitchen and living area separate from the bedrooms, compared to a regular hotel room. Can't imagine us staying in a hotel room for 1 or 2 weeks.

 

[elaine]

risk-reward is good analysis. There must be a REASON to own (more cost effective, view, limited supply, other intangible) IMHO.

 

[NOLA47]

In response to the original tug member, I'd like to suggest that you give it a lot of thought before purchasing more timeshares since you are approaching retirement. About 10 years ago, we purchased two timeshares in Gulf Shores (driving distance for us). They are two 2 bedroom units next door to each other for an annual set week. Our purpose in purchasing was to accommodate our kids and their families. The unit is right on the beach and it is great having everyone there. However, as the kids get older and involved in other activities, it is difficult at times to get them there. Fortunate for us, we have met families there who go every year and renting these units is not difficult.

We also have two deeds with Hilton Grand Vacations (HGV). The second deed was purchased to increase our points to visit a place our kids (grandkids) absolutely love to go to in the summer. The property was managed by Hilton but was a Club Intrawest property. When Diamond purchased Club Intrawest, we no long had access to the resort using our HGV points. We now pay to stay at the same resort (now Embarc) because the kids love it and the location. I am usually able to get someone to reserve it for me using their points. While it is still pricey, it is not nearly as much as reserving thru Diamond directly or thru a rental company.

Since I primarily used the Hilton points for the vacation with my grandkids, I now have a good number of points that we use to reserve units for our kids when they travel with their families, or I will take an occasional trip with my girl friends. Unfortunately, my husband does not like traveling as I do even though we are both retired unless it's with the grands. When we agreed to buy, he gave me the impression he would but that has not happened. I do very much, like one other member, like the size of the rooms vs a hotel room. Also, Hilton properties are very nice, or at least the ones that I have visited. I am very selective when reserving thru RCI the times that I have done that. I don't like the uncertainty of Airbnb as some might.

If I knew then what I know now, I would definitely keep the two units we have in Gulf Shores; however, I would not have purchased so many Hilton points if any at all. I would continue to ask others to rent for me and not have the commitment. To the member who started the thread, if your husband is willing to travel, enjoy yourself to the fullest.

 

[elaine]

In response to the original tug member, I'd like to suggest that you give it a lot of thought before purchasing more timeshares since you are approaching retirement. About 10 years ago, we purchased two timeshares...

concur. our needs really changed and we went from 2 summer beach weeks that we used all the time to always having to trade them. Wish I had a points system instead. OTOH, we paid under $1K (over 10 years ago) for an RCI points resort that has given us great trades (including into HGVC 4X) vs. the capital outlay for a HGVC points system. So, I guess it worked out OK.

 

[KARINE]

I own at Marriott, Vistana, Hyatt, Disney and Four Seasons. It is too much for me to keep track of. It is more weeks and points than I can use in a year. I am starting to lose weeks and points because I own too much.

I am selling Disney because we had a failed adoption and I bought it for the kids. I no longer will visit Disney. I have sold 5 of my 7 contracts post Covid for close to asking price. I am getting less than I would have pre Covid but I want to get out before 2021 MFs come due. Also I want to get my upfront investment back. I spent about $70K resale including a few small developer purchases when I thought the kids were coming. I want my money back. With resale, I should get about $70K back even post Covid. I am selling most for at or slightly above what I paid. One location Grand Floridian has lost value post Covid. I am surprised by this given it is a very desirable resort in the Disney system. I am getting more for Aulani than what paid, believe it or not. Aulani was my favorite resort in the Disney System. Great for adults. I am going to miss it but I also own at Marriott Ko Olina so I can get my Ko Olina fix.

I bought Four Seasons Aviara because it is in California in driving distance and it is the only dog friendly resort in California. It is a long drive from Northern California so pre-Covid I was ready to sell. I did not put it on the market post Covid because resales slowed down. Now I am keeping it to use in 2021. Post Covid, being able to drive with the dogs is a plus. I own two EOY odd weeks at FSA so 2021 is my next time to visit. I did not go in 2019 because I won the lottery and ended up in Four Seasons Costa Rica. For that reason alone, I have gotten my full value out of owning Four Seasons. Four Seasons Costa Rica is the best resort or hotel I have ever visited.

I am selling Hyatt through their deedback program. I got an email from Hyatt saying the closing is on hold until July due to Covid. I am worried that they will rescind. I am selling because I could not figure out the Hyatt points program. It is the only points program I had trouble with.

Now I am consolidating into the new integrated MVC program because MVC has the most locations and consistent quality, I can visit Ritz Carlton St Thomas and I like that they will have so many destinations in the new integrated program, assuming it ever happens. I am holding my Vistana week in the hope that MVC will integrate Vistana into the new MVC program for a low enrollment fee. Otherwise, my favorite points system is Vistana. I love Vistana the most.

Looking back, I would not buy into so many systems. I would research them all and pick the one best suited to my needs now and possibly longer term. For that, the new MVC/Vistana integrated program wins. That is why I am selling to consolidate into MVC. Luckily I bought resale so I can afford to sell and not lose much money. Thanks to TUG I have learned a lot and I think I am a savvy resale buyer. Not perfect, I have made mistakes and learned along the way. No one could predict Covid so I am not kicking myself for losing anything this year. I will course correct and see what I can do in 2021 and beyond.

P.S. I chose to buy timeshares over renting because I want consistent quality and control. Airbnb is hit or miss. I have never used AirBNB. I guess I could rent timeshare weeks from an owner. The negative to that is I do not like renting from owners. I prefer to own and learn the systems and book directly myself.

Hi. I own with Vistana & Marriott. Need to downsize...cannot travel as much. How did you sell your other weeks. Thanks

 

[TravelTime]

Hi. I own with Vistana & Marriott. Need to downsize...cannot travel as much. How did you sell your other weeks. Thanks

I sold them back to Marriott Resales. However, due to covid, they told me there are delays and I am not sure if the sales will go through.

 

[needvaca]

Hi. I own with Vistana & Marriott. Need to downsize...cannot travel as much. How did you sell your other weeks. Thanks

If they have value, you can sell them here on TUG or on Redweek

 

[Family_travel]

Hi. I own with Vistana & Marriott. Need to downsize...cannot travel as much. How did you sell your other weeks. Thanks

There are lots of articles on TUG. For example https://tug2.net/timeshare_advice/how-to-sell-your-timeshare.html

 

[donnaval]

I acquired a boatload of timeshares some years ago because hubby and I agreed that it would be a lot more fun to stay in resorts with all amenities and others doing all the work once we retired. In the meantime, I had a nice little side business of renting out the units because we had good stuff with reasonable maintenance fees. As years passed, some of our good stuff got gobbled up by horrible companies like Festiva and Diamond, two systems we had deliberately avoided, and our mfs went through the roof making those units impossible to rent at a profit. Wyndham changed its policies making those units more difficult to rent and less profitable (if profitable at all). Then the final blow, dear husband decided he's more of a homebody than he thought and really doesn't want to travel very much anymore. So I mostly travel alone or with friends. I've been able to give away or give back most of the units, and will keep one really good II trader and my RCI points units (I have two, one acquired through a great TUGger, and one that doesn't have a very good mf-to-point ratio but they balance out). I had planned to try giving away the small points unit this year but then COVID happened. Ultimately, I plan to stick with just the large points unit and the one II unit because they give me lots of flexibility and can generate more exchanges than I can easily use myself. We really put a lot of thought and effort into our acquisitions but things change, sometimes personally as in my husband's loss of interest in traveling, and outside our control like the units we loved being taken over by companies we despised.

 

[NOLA47]

When your units were taken over by another company, did you still have the units? Are you saying that you had the units but you just did not like the company you were now an owner with? I'm just thinking about the discussions earlier about Diamond taking over Hilton Grand Vacations and what might be expected there if that should occur. Not sure of the status.