I feel like I might have been in a similar situation as you (persistently curious despite sound advice that perhaps this wasn’t for me), so I’d like to share my timeshare ownership experience so far in case it helps you a bit... Apologies in advance for the lengthy post, I don’t typically do this on here
It’s amazing how the “timeshare bug” bites some folks (i.e. me and apparently you too!) and then they can’t let it go... I was very curious and interested in timeshares for many years, found TUG last year and then was on a mission! Based on my initial survey, the wise TUG family suggested renting was perhaps better for me vs owning (I tend to book last minute, seemed to prefer less commitment, prefer shorter vs longer vacations, don’t need larger accommodations since it’s just 2 of us, etc) and yet I persisted. My husband and I travel frequently for work so we both get a decent # of hotel points (and status) and often our vacations are booked on pts... and yet I still had it in my head that we could “save money and take more vacations”. To boot, my husband is definitely the pickier type when it comes to hotels (I jokingly say that a Courtyard Marriott is “roughing it” for him....) therefore buying an “unknown”/lesser brand or independent timeshare with perhaps lower MFs (thinking of using it as a trader) wasn’t an option. Finally, since I didn’t have his full buy-in, exit strategy was very important (needed to buy something I could “get rid of” relatively painlessly if it didn’t work out for us, in the end).
Fast-forward 16 months and I now own TWO small timeshares which I bought at the same time (March 2019) on eBay LOL! I bought HGVC (Elara studio plus 3500 annual pts) because my husband and I both love Elara and I figured, if nothing else, we could use our points there. We go to Vegas OFTEN (at least 4 times per year, 6 times in 2019, but always for 2-3 nights only... we go for shows, awesome restaurants and work, NOT to gamble, everyone calm down haha!) and for us the open season rates and points costs were worth it because we like to stay center strip vs whatever random hotel has a good rate for the weekend. HGVC also satisfied my husband’s need for a “nicer” brand of timeshare. I also bought a small Worldmark contract (6000 pts).
What we’ve used so far (keep in mind I closed HGVC in June and WM in October... yes, CAVEAT EMPTOR, Worldmark takes about 6 months to close):
- First use was my husband in Vegas (Elara... shocker!). He actually had a work conference at the Cosmopolitan (basically right across the street from Elara) and the rates were OUTRAGEOUS that week... he booked open season (vs using pts) because he needed to be able to expense the stay to his company. He spent less on a 3 night stay in a 1 bd grand plus vs what he would’ve paid at the Cosmo for 1 night in a standard room. His coworkers ended up having to stay off strip because everything in Vegas was booked up or too expensive for his company to approve. SIDEBAR: there are taxes charged on open season stays, don’t forget to consider those...
- Next we went back to Elara for 4th of July and used 640 total pts for 3 nights. I don’t recall exactly what regular hotel rates were, but they were either astronomical or off-strip/less desirable in terms of location and hotel appeal. After this stay my husband was SOLD on our purchase and started bragging to friends about “our” timeshare (all of a sudden he wanted full part in this wise decision haha!)
- Having used up only 640 pts out of my 3500 for 2019, I saved my pts ($108) and have booked a 2 bedroom (1408 - 1764 sq ft... no big deal...) at Elara for May 2020 for an epic girls’ trip weekend getaway. There are 6 of us and I charged each of my girlfriends $150 and, of course, our 5,040 pts booking is a steal vs every other good location hotel I was able to find online... and way bigger.... All of my girlfriends are impressed and asking all kinds of questions about becoming owners, now I gotta calm them down and send them over here to TUG to educate themselves...
As for my Worldmark, I bought this to explore the West Coast a bit (we moved here from the East Coast about 3 years ago and haven’t done much exploring yet), but was a bit worried about quality vs what my husband expects and likes. I have reservations to go check out Yosemite with 3 friends in April, we have a little Napa getaway planned shortly (February, was going in December and had to cancel, no penalty...LOVE my Worldmark!) AND we are going to Fiji for 4 nights (staying 5 nights in a Marriott afterwards because my husband doesn’t trust the WM brand just yet...) in May.
Some things I’ve learned along the way and advice I would have for someone like us...
- You may not save money vs the cheapest available option, but you probably will (or at least break even), ESPECIALLY if there are specific locations that interest you (i.e. I like the location of Elara vs whatever rando hotel has a deal but is far away from the action).
- You will take more vacations/will get in the habit of planning more vacations! This is one of the only truths that the developer sales reps tell you, timeshares “make you” take more vacations!
- You will start inviting friends and family to join you on vacations! Having the ability to book larger accommodations for cheaper or the same price will get you in a sharing mood!
- Fees will annoy you... HGVC charges for everything (book reservation, save pts). You will become a better planner. Btw, WM is amazing for this... I agree with @taterhed suggestion you should scope this system out.
- Don’t be scared of availability, if you are persistent you can likely get what you want, even last minute (at least for the locations you are interested in: Orlando and Vegas). Persistence is key, just keep checking back OFTEN.
- Start small, but not so small that you can’t get rid of it later if you discover this isn’t for you. I am happy with my studio plus 3500 at Elara because it’s platinum and because MFs here are low, but I would not, for example, have gone for a silver or even gold week at the studio level, I don’t think? Maybe in Vegas (excluding Trump which is more $$$$) I would have, but not elsewhere.
- Open season is awesome (for me, anyway). Sure, some prices have gone up, especially for larger units, but overall I find this to be a great value still and allows for even shorter trips (2 nights vs the standard 3 nights needed for pts bookings).
- RCI hasn’t worked for me (yet), I probably haven’t invested the right amount of time. For last minute (book usually 5 months or less before travel) folks like me, it seems that the places available are not the ones I want to go to, or have crazy All Inclusive (AI) fees, or are significantly less flexible in terms of check in dates and length or stay...
- BECOME A MEMBER OF TUG. There are amazing folks on here and lots of wisdom, consider joining the fam, especially if you’ve been on here for some time.
Great luck! Let us know what you end up getting!
