PSStafford
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- Mar 21, 2020
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Thank you in advance for your thoughts, brainstorming, and help.
My wife and I are thinking about selling our home of 22 years, and relocating in Arizona in 2022 or 2023. But before we purchase in AZ and settle in, we would like to travel. And we are strongly considering living in a timeshare(s) for up to 12 months once our home in beautiful Bear Valley Springs, CA sells this late summer or fall (2021). We have wondered for a while if this CAN be done, and are now convinced that it CAN be, because we have read the stories of several people who are actually doing it.
Now what we would love to learn from you, the experts, is the best path to doing this.
1. We don't own a timeshare. Never have. If you were going to start out like we are, what company or companies would you invest in to do this for a year? What companies have the best inventory, availability, flexibility, and cost? I guess a company with a point system would be preferred - something like WorldMark?
1.a. We live in the western states, and would spend most of our time in and around (Scottsdale) Arizona. And we have kids and grandkids in Portland area who love to go to the coast, and a son in Film School at BIOLA just outside of Los Angeles. These would be our target destinations. So primarily west coast and Arizona, and western United States.
1.b. I would on rare occasions go to the east coast to work with some of my clients in person.
1.c. Our "ideal" monthly housing budget (MoFees, housekeeping? exchange fees? etc.) would be between $1600-2000.
2. We would have cash from the sale of our home. We would like to purchase our timeshare(s) on the resale market - not retail - if possible. Unless there is some kind of punishment from the companies for doing so.
3. Would there possibly be some kind of tax advantages available for living in timeshares for 52 weeks, owning no other residence? It would not be "entertainment" or "vacation" property at this point, but rent. And for working remotely from the timeshare as my office? If read all that I can on this, but can't find this from tax advisors. Have any of you "full timers" found a way?
4. Finally, what would be a good exit strategy? Once we purchased a house in Arizona after our long adventure in timeshares, we would not want to pay the monthly fees for such a large amount of points. We might want to keep two or three months, but no more. So is there an exit strategy that we should consider before we begin purchasing points/weeks?
We appreciate your thoughts and ideas. We are completely open to your ideas and experiences and out of the box thinking. This would be a completely different way for us to live our lives for a period of time.
Doug and Susie Cowan