Is accumulating timeshares really worth it?

[donnaval]

Yes - we just got a notice that our units were now Diamond, or Festiva resorts. In both cases, our MF fees went through the roof - in the case of Diamond, they literally tripled over the next few years and Festiva about doubled. I liked the units very much, but the new MFs were to me unreasonable. Fortunately, I am a TUG member and saw here that Diamond had started a deedback program. It was early days for that program, so even though my unit was a resale, they accepted it back after I paid them $250 for the privilege. I know it costs much more to do that now, and I am not sure if resales qualify anymore. The Festiva unit was a great week in a very popular vacation destination, so even at the higher MF was a decent deal for someone who wanted to actually use it rather than rent it, and I was able to give it away here on TUG.

 

[DazedandConfused]

Own DVC and HGVC and really enjoy them both. BUT you have to plan ahead

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.

If you have been successful for 20 years, then one bad year should not derail you, but it might sting a little bit

 

[TravelTime]

Good news. I just got the closing docs from Marriott for one of the weeks they are buying back. I was worried they might not compete the sale due to Covid. They are paying me more than I paid resale plus they are reimbursing me for MFs. This one was a good deal. Always buy resale so you do not lose $$$ when you are ready to sell!

 

[MOXJO7282]

Own DVC and HGVC and really enjoy them both. BUT you have to plan ahead



If you have been successful for 20 years, then one bad year should not derail you, but it might sting a little bit

I think things will get back to normal at some point next year. Luckily as contagious as this damn virus is it isn't that deadly so I think we'll eventually get it under control and get back to life.

 

[NOLA47]

I think things will get back to normal at some point next year. Luckily as contagious as this damn virus is it isn't that deadly so I think we'll eventually get it under control and get back to life.

I wish I could agree with you but the virus has been quite deadly in my circle of family and friends. I'm not at all insinuating that you don't take it seriously, but I will say that there are many who do not because it has not affected them personally. I do realize this is getting out of the discussion but I could not let that statement be made without commenting. Thanks.

 

[jbiza]

That's a really good variety of comments/posts as to why accumulating timeshares is worth it .

I would even analogize it to playing a timeshare version of the game of "Monopoly"- where one starts with preferably discretionary money & learns different ways,
(buy from Developer, buy resale, buy points, weeks, RTU, avoiding misleading high pressure sales tactics, etc.), as one goes around the "timeshare board".
While $$ is important in purchasing a timeshare, perhaps it is NOT the primary reason in ALL cases that make accumulating timeshares worth it .

Trying to deal with &/or avoid special assessments, excessive m/f's, unforeseen pandemics, learning different systems, brands & strategies, are all part of the timeshare adventure that we all experience on our overall travel journeys.

For example, getting that great oceanfront unit, that high quality brand 2BR/2BA unit during a high demand week, that fits one's travel desires, or even, unloading a fifteen year owned unit that no longer fits one's travel lifestyle, is all part of accumulating timeshares that is worth it .

 

[bogey21]

Good news. I just got the closing docs from Marriott for one of the weeks they are buying back. I was worried they might not compete the sale due to Covid. They are paying me more than I paid resale plus they are reimbursing me for MFs. This one was a good deal. Always buy resale so you do not lose $$$ when you are ready to sell!

I had similar good luck with Marriott many years ago. They sold a Week for me that I had purchased Resale. Even after their commission I made a nice profit. The secret is to buy the right Week at the right price...

George

 

[Cecile Boisvert]

I wish I could agree with you but the virus has been quite deadly in my circle of family and friends. I'm not at all insinuating that you don't take it seriously, but I will say that there are many who do not because it has not affected them personally. I do realize this is getting out of the discussion but I could not let that statement be made without commenting. Thanks.

it is very possible that the health crisis will be followed by an economic crisis.
in 2008 (The last financial crisis), the TS business model took a serious beating...
In the coming year, with very high unemployment numbers and many businesses closing down because of the pandemic, it is very unlikely that things will get back to normal so quickly...
the timeshare industry will take another serious beating.
I think it is important to prepare for this now. This will be a very costly disaster!

 

[jbiza]

...
the timeshare industry will take another serious beating.
I think it is important to prepare for this now. This will be a very costly disaster!

any suggestions to prepare?

accumulate more timeshares or less timeshares?

 

[Cecile Boisvert]

any suggestions to prepare?

accumulate more timeshares or less timeshares?

Good question!
I guess it depends on one’s situation, financial means, etc.
I would say that now is really not the time to acquire more timeshares or start a business in timeshare rental....
and if one expects money to be tight in the near future ...then get rid of as many timeshares as possible (if you own many)...that said with respect for people who own many!

 

[TravelTime]

it is very possible that the health crisis will be followed by an economic crisis.
in 2008 (The last financial crisis), the TS business model took a serious beating...
In the coming year, with very high unemployment numbers and many businesses closing down because of the pandemic, it is very unlikely that things will get back to normal so quickly...
the timeshare industry will take another serious beating.
I think it is important to prepare for this now. This will be a very costly disaster!

Aren't we already in an economic crisis?

 

[TravelTime]

If Covid and the travel restrictions are not allowing people to use their timeshares, then I would expect many people trying to sell in order to avoid 2021 MFs. I am selling a bunch of timeshares but I had already planned to do so before Covid hit and already had them on the market to sell. It is taking longer to sell than anticipated but they are slowly selling.

 

[MOXJO7282]

I wish I could agree with you but the virus has been quite deadly in my circle of family and friends. I'm not at all insinuating that you don't take it seriously, but I will say that there are many who do not because it has not affected them personally. I do realize this is getting out of the discussion but I could not let that statement be made without commenting. Thanks.

I'm sorry for your loss and understand the thought. My family and I have taken this very seriously because my wife has multiple autoimmune diseases and we have her 88 yr old health patient mom with us. At one point we isolated them for 45 days because they were possibly exposed by my Covid nurse daughter who exposed us all unknowingly just before the world turned upside down. I was dismissive unintentionally of the deaths because every death is a terrible family hardship so didn't intend that.

 

[TravelTime]

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.

This week, I received the closing documents from Marriott Resales for both my Westin Princeville week and my Hyatt Windward Pointe week. I am happy that Marriott is still buying them back, in spite of Covid. It just took a couple months longer than originally scheduled. I received pretty good prices for both, about the same as I paid resale.

 

[michellecoury]

I'm new to all this can you please tell me what a MF is

 

[bbodb1]

MF is maintenance fee.

 

[travelpager]

I think things will get back to normal at some point next year. Luckily as contagious as this damn virus is it isn't that deadly so I think we'll eventually get it under control and get back to life.

[deleted]

 

[CPNY]

I came here with one expensive timeshare and knew nothing. I learned a bunch and now I no longer have that anchor timeshare and own 4 others. I also bought and sold an additional 2! I think someone mentioned earlier that some here get sucked in and start trading them like baseball cards. That really struck a nerve LOL.

I love Vistana since it has the destinations I want. If you own in a good system it can be worth it.

 

[bogey21]

If Covid and the travel restrictions are not allowing people to use their timeshares, then I would expect many people trying to sell in order to avoid 2021 MFs.

I find it hard to believe that this won't happen big time. But then I am a born pessimist...

George

 

[TravelTime]

I find it hard to believe that this won't happen big time. But then I am a born pessimist...

George

This will probably be worse than the 2008 financial crisis for timeshares because not only are we in a recession but travel is also restricted so even people who are not financially impacted may want to unload timeshares they can;t use.

 

[CPNY]

This will probably be worse than the 2008 financial crisis for timeshares because not only are we in a recession but travel is also restricted so even people who are not financially impacted may want to unload timeshares they can;t use.

That’s what has been on my mind. I ask myself What’s the point of owning all of these sometimes..

 

[TravelTime]

That’s what has been on my mind. What’s the point?

Just commenting. No point.

 

[CPNY]

Just commenting. No point.

Lol sorry, I’m saying to myself.....what’s the point of owning all these timeshares haha. Didn’t mean that toward you. Sorry

 

[JohnPaul]

Still using all of ours. Just driving and socially distancing.

 

[frank808]

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.

Our timeshare weeks have been our "retirement" home. Even though we have a home minutes from Marriott Koolina we stay at TS most of the year. We bought TS for use in retirement knowing that we could use it before we retire in 4 years.

It has worked well for us for over a decade now. Started slow with just a 4-8 weeks annually staying in TS. For the past 5 years or so, we spend 42+ weeks in TS annually while cruising 45-60 days. This year has put a dent on cruising so we are doing even more TS time at Marriott Koolina. Luckily there were a lot of weeks available during the summer months at Koolina. We had Hilton Hawaiian Village TS booked for July and August which HGVC closed down.

Tug was invaluable in getting me the info needed to put my plan in place. All the great tuggers made this possible by sharing their wealth of knowledge. We started small with independent Hawaii locations because I wanted to be sure we could get there. Then we gave away all those when it no longer suited our purposes. And now all we own are Marriott, Hilton and DVC timeshares.

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