I originally posted this in the Marriott forum (we know we want that system) & was directed here.
New here & doing some research! We have always thought about owning a timeshare & been to many presentations, but ever since finding TUG many years ago, I knew we would never buy retail. (Thank You!!) The last presentation Hubby said was our last.
We are ready to buy something resale, but I have a few questions.
1. Is there a post or something that outlines each step of the buying resale process & any red flags that I should be looking for?
2. Considering a 3BR EOY or a 2BR EY. What would you recommend? Why?
3. Do you recommend buying in the location that we envision us vacationing with our kids & their families (say 10+ years out) or in a location that we feel has good trading power and/or potential for renting?
Answers to the What to Buy questions ...
1) Where do you want your home resort to be?
Ideally a beach location that is easy to get to from the Midwest (not Hawaii)
2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
Not sure - I don't think we can afford the 'ideal' resort & those MF's are high. Therefore should we buy a strong trader (one that is in our budget, has more reasonable MF's, and seems to be able to rent for >MF's).
3) What are your 5 top trade destinations?
Lakeshore Reserve or Oceana Palms
Newport
Boston
Las Vegas
Caribbean
4) How many people do you usually travel with?
Right now 4-5
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
7) Can you vacation for a full week at a time?
Yes
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
4-5
9) How much can you afford to spend upfront, without financing?
2-3,000
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?
<2,000 ideally around 1,200
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?
Yes
New here & doing some research! We have always thought about owning a timeshare & been to many presentations, but ever since finding TUG many years ago, I knew we would never buy retail. (Thank You!!) The last presentation Hubby said was our last.
We are ready to buy something resale, but I have a few questions.
1. Is there a post or something that outlines each step of the buying resale process & any red flags that I should be looking for?
2. Considering a 3BR EOY or a 2BR EY. What would you recommend? Why?
3. Do you recommend buying in the location that we envision us vacationing with our kids & their families (say 10+ years out) or in a location that we feel has good trading power and/or potential for renting?
Answers to the What to Buy questions ...
1) Where do you want your home resort to be?
Ideally a beach location that is easy to get to from the Midwest (not Hawaii)
2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
Not sure - I don't think we can afford the 'ideal' resort & those MF's are high. Therefore should we buy a strong trader (one that is in our budget, has more reasonable MF's, and seems to be able to rent for >MF's).
3) What are your 5 top trade destinations?
Lakeshore Reserve or Oceana Palms
Newport
Boston
Las Vegas
Caribbean
4) How many people do you usually travel with?
Right now 4-5
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
7) Can you vacation for a full week at a time?
Yes
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
4-5
9) How much can you afford to spend upfront, without financing?
2-3,000
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?
<2,000 ideally around 1,200
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?
Yes
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