Is Wyndham right for me?

[danor71]

I posted this topic in the HGVC forum but have some been reading up on Wyndham for the last few days.

First off, thanks to TUGBBS for being a great source of information and having saved me lots of money since I discovered this place 2 years ago.


Over a year ago I had seriously looked into purchasing a HGVC timeshare. After crunching the numbers, I concluded It was not right for me. Fast forward to December 2019, my personal situation has changed. I have a business that requires me to travel to Orlando and surroundings and Vegas on a monthly basis. Therefore, once a month, I am travelling for approximately a week. What I have been doing is renting out timeshares through fellow TUG members.
Given this frequent travelling, I am now thinking it would make more financial sense for me to buy a timeshare and reserve additional days/weeks for cash as needed.

I have crunched the numbers and have spent about $2500 in the last 6 months for about 28 days of usage.


Looking for your opinion on my situation and my logic.


More to come!


Cheers

 

[Fredflintstone]

Personally, renting is your best bet. You have the flexibility to book what you want, where you want and can compare prices to get the best bang for your hard earned dollar. With timeshares, you may or may not get your needed dates, the point usage may not be competitive if you compare it to rental options and you are locked into a contract that can haunt you in the future.

With renting, you are frankly in the drivers seat. You choose where you rent versus being told by Wyndham how the points work.

Timeshares are beautiful places. You can still rent a timeshare or garner wonderful resorts at competitive prices and you are always free to choose.




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[chapjim]

You'll need to determine with your HR or finance department what you'll be able to claim for lodging when you travel. You won't have a hotel bill to submit with your travel claim.

You may be better off renting from owners who can provide an invoice.

 

[danor71]

Thanks for the quick responses. To clarify, this is my own business so every dollar saved is my own dime.

 

[chapjim]

Thanks for the quick responses. To clarify, this is my own business so every dollar saved is my own dime.

Then the question is will you be able to book a reservation on what probably will be short notice. I guess if you can't, you could go the rental route.

 

[Fredflintstone]

Thanks for the quick responses. To clarify, this is my own business so every dollar saved is my own dime.

Ok,

Then definitely rent.

You say you spend about 2500 renting every 6 months. That means you need 4 weeks of time every 6 months. Each week MF will cost you on average 1 k a week.

And yes, with renting you get a receipt which is much easier to prove for business than MF.

Hey, as one of my friends once said:

Why put a ring on Wyndham’s finger with a contract when you can shack up for less and expect your business being EARNED every time you book a place?


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[dgalati]

I posted this topic in the HGVC forum but have some been reading up on Wyndham for the last few days.

First off, thanks to TUGBBS for being a great source of information and having saved me lots of money since I discovered this place 2 years ago.


Over a year ago I had seriously looked into purchasing a HGVC timeshare. After crunching the numbers, I concluded It was not right for me. Fast forward to December 2019, my personal situation has changed. I have a business that requires me to travel to Orlando and surroundings and Vegas on a monthly basis. Therefore, once a month, I am travelling for approximately a week. What I have been doing is renting out timeshares through fellow TUG members.
Given this frequent travelling, I am now thinking it would make more financial sense for me to buy a timeshare and reserve additional days/weeks for cash as needed.

I have crunched the numbers and have spent about $2500 in the last 6 months for about 28 days of usage.


Looking for your opinion on my situation and my logic.


More to come!


Cheers

Unless you buy up to VIP Owning would cost you more then what you sre paying now.You rented 4 weeks at $2500 or about $625 per week. It would cost more owning and paying maintenance fees without factoring in your sunk cost of purchasing. Grand Desert maintenance fee is $4,73/1000 . One week costs 154,000 points or 154 x 4.73 = $730 cost per week. You can rent from a VIP for less then $400 if they pass along the 50% discount if you are booking in the 60 day discount window.

 

[danor71]

Then the question is will you be able to book a reservation on what probably will be short notice. I guess if you can't, you could go the rental route.

Correct, if I can’t reserve on short notice through Wyndham myself, I keep doing what I am doing, renting.

 

[danor71]

Unless you buy up to VIP Owning would cost you more then what you sre paying now.You rented 4 weeks at $2500 or about $625 per week. It would cost more owning and paying maintenance fees without factoring in your sunk cost of purchasing. Grand Desert maintenance fee is $4,73/1000 . One week costs 154,000 points or 154 x 4.73 = $730 cost per week. You can rent from a VIP for less then $400 if they pass along the 50% discount if you are booking in the 60 day discount window.

Thanks, that makes sense. But as an owner, if I book in the 60 day discount window, do I also get a discount (not the 50% VIPP discount).

But if I look beyond my business and look at personal vacation time, I like to vacation a few weeks a year. I’ve got 2 young ones. As an owner, would it not allow me to vacation at a cheaper rate / cost? My wife is teacher so we are stuck with having to vacation Christmas break and summer break - ie: high demand weeks.

And there is always the initial investment, though you can pick these up for relatively cheap through resale /eBay.

Thanks. This is very helpful!

 

[dgalati]

Thanks, that makes sense. But as an owner, if I book in the 60 day discount window, do I also get a discount (not the 50% VIPP discount).

But if I look beyond my business and look at personal vacation time, I like to vacation a few weeks a year. I’ve got 2 young ones. As an owner, would it not allow me to vacation at a cheaper rate / cost? My wife is teacher so we are stuck with having to vacation Christmas break and summer break - ie: high demand weeks.

And there is always the initial investment, though you can pick these up for relatively cheap through resale /eBay.

Thanks. This is very helpful!

No discount when booking in the 60 day discount window if you are not a VIP. Only way to become VIP is buying high $$$ developer points, adding a PIC week( @Richelle & @HitchHiker71) or inheriting another family members VIP ownership.

 

[dgalati]

Thanks, that makes sense. But as an owner, if I book in the 60 day discount window, do I also get a discount (not the 50% VIPP discount).

But if I look beyond my business and look at personal vacation time, I like to vacation a few weeks a year. I’ve got 2 young ones. As an owner, would it not allow me to vacation at a cheaper rate / cost? My wife is teacher so we are stuck with having to vacation Christmas break and summer break - ie: high demand weeks.

And there is always the initial investment, though you can pick these up for relatively cheap through resale /eBay.

Thanks. This is very helpful!

I have a non VIP ownership and have bought all lower maintenance fee resale deeds. It is usually 1/2 my cost when renting from a VIP in the 60 day discount window. If you can rent for less then owning why buy? Renting also gives you multiple options that you would not have if buying into the Wyndham system.

 

[danor71]

No discount when booking in the 60 day discount window if you are not a VIP. Only way to become VIP is buying high $$$ developer points, adding a PIC week( @Richelle & @HitchHiker71) or inheriting another family members VIP ownership.

Oh. I thought non VIPs could get some discounts. This is definitely a major deal breaker.

 

[danor71]

I have a non VIP ownership and have bought all lower maintenance fee resale deeds. It is usually 1/2 my cost when renting from a VIP in the 60 day discount window. If you can rent for less then owning why buy? Renting also gives you multiple options that you would not have if buying into the Wyndham system.

Sounds like owning is really about ensuring you can book ahead of time at your preferred or home resort. Keep renting from VIPs for trips related my business.

 

[dgalati]

Oh. I thought non VIPs could get some discounts. This is definitely a major deal breaker.

On occasion Wyndham will discount points to non VIP owners when many rooms are available or during a low demand season.

 

[danor71]

On occasion Wyndham will discount points to non VIP owners when many rooms are available or during a low demand season.

Okay, got it. Thanks

 

[dgalati]

Sounds like owning is really about ensuring you can book ahead of time at your preferred or home resort. Keep renting from VIPs for trips related my business.

You can look at it that way. I like the ability to look up and book my own vacations and I like staying in a 1 bedroom condo at a lower cost then paying for a hotel room. I will rent from a VIP when it is cheaper the using my own points. Learn the system and make it work for your situation.

 

[Richelle]

Okay, got it. Thanks

@dgalati they are always offering discounts at places. Whether it’s at a place they want or not, is an entirely different story.


They can sometimes offer them during high and prime season but the high and prime season deals are usually only for specific room types and during specific days a week. For example, you can get 50% off at Austin but only for Sunday to Thursday in studios and one bedrooms. If you want to add a Friday and Saturday to that, you can, but it will be full price unless you’re VIP booking in the discount window. Or 25% off at Las Cascada in 1 and 2 bedroom, Sunday to Thursday for travel dates between Jan 2nd and March 31st. The entire month of March is prime season there. So it’s not limited to low seasons. You may have to be very flexible if you want discounts when you travel. VIPs however, can get discounts on any room type, during any season, 60 days from check in. The deals listed on the deals and offers page cannot be combined with the VIP discount. If a VIP platinum owner were to book La Cascada during those times, they would only get their 50% discount.

 

[Richelle]

Sounds like owning is really about ensuring you can book ahead of time at your preferred or home resort. Keep renting from VIPs for trips related my business.

I can often book things last minute but sometimes you have to be diligent and keep looking if it’s prime season. Otherwise, I get most of my discounts in high or low season. If I want anything bigger then a two bedroom, I have to book further out. Otherwise, I can usually get what I want in the 60 day window. Of course, your mileage may vary. If you’re looking to travel at resorts with limited accommodations, it will be tough, even at the 10 month mark. “Limited accommodations “ means 50 units or less can be booked by owners. The “or less” part could mean only 5 units are available. There is no list of how many rooms are available at each resort.

I like having control over my bookings and knowing they will be there. I am always worried that the person renting is doing it because they cannot afford their maintenance fees or loan payments and if I rent 10 months out, I could lose my reservation if they don’t pay their maintenance fee bill. If I don’t rent 10 months out, I might have trouble getting what I want. Or I end up with a scammer who takes my money and cancels the reservation. Also, many renters have a no refund policy. If I need to cancel, I usually cannot get my money back. If they can cancel and get their points back, they might book something else for me, but it might cost me $100 because they have to buy another guest certificate. So for those reasons, I prefer to own. It’s a financial commitment but we have savings to cover us, if we have a financial emergency. Timeshares are right for us, but not for everyone.

 

[danor71]

You

I can often book things last minute but sometimes you have to be diligent and keep looking if it’s prime season. Otherwise, I get most of my discounts in high or low season. If I want anything bigger then a two bedroom, I have to book further out. Otherwise, I can usually get what I want in the 60 day window. Of course, your mileage may vary. If you’re looking to travel at resorts with limited accommodations, it will be tough, even at the 10 month mark. “Limited accommodations “ means 50 units or less can be booked by owners. The “or less” part could mean only 5 units are available. There is no list of how many rooms are available at each resort.

I like having control over my bookings and knowing they will be there. I am always worried that the person renting is doing it because they cannot afford their maintenance fees or loan payments and if I rent 10 months out, I could lose my reservation if they don’t pay their maintenance fee bill. If I don’t rent 10 months out, I might have trouble getting what I want. Or I end up with a scammer who takes my money and cancels the reservation. Also, many renters have a no refund policy. If I need to cancel, I usually cannot get my money back. If they can cancel and get their points back, they might book something else for me, but it might cost me $100 because they have to buy another guest certificate. So for those reasons, I prefer to own. It’s a financial commitment but we have savings to cover us, if we have a financial emergency. Timeshares are right for us, but not for everyone.

You bring up some good points. I've had nothing but great experiences so far renting but then again, I tend to book within 30 days.

 

[SNA27]

I assume these rentals are deducted as business expenses. If your business can afford it, and you can justify the business use, you're in a sweet spot.
Your business can buy at least VIPG with 192k developer points + 2 3-Bedroom PIC Plus contracts (508k points).
No different from buying office space, I would think. You should consult your tax guy about depreciation and 179 deduction.
You have all kinds of advantages that other TS owners can only envy!

 

[SNA27]

I assume these rentals are deducted as business expenses. If your business can afford it, and you can justify the business use, you're in a sweet spot.
Your business can buy at least VIPG with 192k developer points + 2 3-Bedroom PIC Plus contracts (508k points).
No different from buying office space, I would think. You should consult your tax guy about depreciation and 179 deduction.
You have all kinds of advantages that other TS owners can only envy!

 

[cbyrne1174]

Unless it's prime season, as a resale owner I see on average 30% off at the Florida resorts 30 days out. I own mainly Grand Desert and I only spend on average $500-$600 per week when I book efficiently. I prefer owning vs renting because then I'm not dependent on another person and don't have to worry about getting scammed. Renting off other owners isn't secure.

 

[danor71]

I assume these rentals are deducted as business expenses. If your business can afford it, and you can justify the business use, you're in a sweet spot.
Your business can buy at least VIPG with 192k developer points + 2 3-Bedroom PIC Plus contracts (508k points).
No different from buying office space, I would think. You should consult your tax guy about depreciation and 179 deduction.
You have all kinds of advantages that other TS owners can only envy!

Currently, I use the invoice and paypal transaction when I rent as a deductible travel expense. NO different than renting an AirBNB.

Now, actually buying a TS and putting it on the books as a capital asset... that’s a slippery rope with the tax man.

If VIPG can only be attained by buying developer points, how much would that set me back? I thought one should never buy from the developer!

 

[danor71]

Unless it's prime season, as a resale owner I see on average 30% off at the Florida resorts 30 days out. I own mainly Grand Desert and I only spend on average $500-$600 per week when I book efficiently. I prefer owning vs renting because then I'm not dependent on another person and don't have to worry about getting scammed. Renting off other owners isn't secure.

That’s good to know. That means more points left over for personal use, potentially.

 

[kaljor]

While there were a lot of discounted Florida resorts this year, that doesn't mean there was a lot of availability during those periods. In fact you can frequently encounter one day of the week you want is unavailable and that kind of ruins it. Also I don't remember seeing as many discounted resorts in the past as I saw this year.

Because of my flexibility, I was someone who actually was able to take advantage of those discounts three times this year. But it's certainly not anything you can count on.

My opinion: if you're primarily thinking of buying this for business travel on short notice (like 30-50 days) it doesn't work. There is not a lot of availability in most places in that time frame. Maybe because people like those you're renting from have already booked those resorts!