My husband and I almost bought a new timeshare and then rescinded when we found out how little we could be a second hand timeshare for. however, I got the impression that once you sign the contract with them that maint. fees stay the same. Is it only for new timeshares that this is the case? Thanks. Kelly
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Maintenance Fees
- Thread starter klconley
- Start date
No maint fees are guaranteed to stay the same... New or resale, no difference.
Things cost more every year...so, You can/will pay more... If you get lucky enough to pick the timeshare that the HOA runs efficiently, then maybe your fees stay reasonable. Also, special assessments can happen.
I've been lucky. My resorts fees have only gone up a few bucks a year(so far). One with a special assessment was minimal.
Lots to learn. You almost have to look upon this as a hobby to enjoy the results.
Have fun learning.
Things cost more every year...so, You can/will pay more... If you get lucky enough to pick the timeshare that the HOA runs efficiently, then maybe your fees stay reasonable. Also, special assessments can happen.
I've been lucky. My resorts fees have only gone up a few bucks a year(so far). One with a special assessment was minimal.
Lots to learn. You almost have to look upon this as a hobby to enjoy the results.
Have fun learning.
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Pay me more or pay me less - fees are the same
The only cost that stays the same is the purchase cost. The annual fee's will vary, usually upward, over time. Same for retail purchase or resale purchase - same annual fees for all. So save the upfront money by buying resale and use the tens of thousands of dollars saved to pay the annual fees - maybe for decades, Wyndham is a great system but only if you buy resale.
The only cost that stays the same is the purchase cost. The annual fee's will vary, usually upward, over time. Same for retail purchase or resale purchase - same annual fees for all. So save the upfront money by buying resale and use the tens of thousands of dollars saved to pay the annual fees - maybe for decades, Wyndham is a great system but only if you buy resale.
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Grandview At Las Vegas
[triennial - points]
Timeshare Maintenance Fees All Generally Trend Upward.
That's true of big bux timeshares bought at full freight from timeshare companies as well as 2nd hand timeshares bought for thousands less on the resale market.
One possible difference the timeshare sellers might have had in mind in suggesting level fees on full freight timeshares is something I'm surprised the timeshare sellers would let slip. That's the unfortunate tendency of timeshare companies, while they're calling the shots at newish timeshare resorts, to skimp on reserve funds as a way of keeping overall fees low while the company is still selling units.
The companies reason that lower fees will be more attractive to potential customers. They also reason that by the time the resort needs major serious renovation, paying the bill for it will be somebody else's problem.
In any case, buying resale for nickels on the dollar instead of paying big bux to the timeshare company saves lots & lots of good green money -- enough to cover years & years of timeshare maintenance fees.
Buy timeshares resale.
Save $10,000
BTW, those mandatory annual fees are the true cost of timeshare vacationing. Despite anything the timeshare sellers say, merely owning a timeshare is not locking in prepaid future vacations. Even if I get my timeshare(s) el cheapo or el freebo, those maintenance fees & reserve fees & real estate taxes keep on coming year after year.
That's true of big bux timeshares bought at full freight from timeshare companies as well as 2nd hand timeshares bought for thousands less on the resale market.
One possible difference the timeshare sellers might have had in mind in suggesting level fees on full freight timeshares is something I'm surprised the timeshare sellers would let slip. That's the unfortunate tendency of timeshare companies, while they're calling the shots at newish timeshare resorts, to skimp on reserve funds as a way of keeping overall fees low while the company is still selling units.
The companies reason that lower fees will be more attractive to potential customers. They also reason that by the time the resort needs major serious renovation, paying the bill for it will be somebody else's problem.
In any case, buying resale for nickels on the dollar instead of paying big bux to the timeshare company saves lots & lots of good green money -- enough to cover years & years of timeshare maintenance fees.
Buy timeshares resale.
Save $10,000
BTW, those mandatory annual fees are the true cost of timeshare vacationing. Despite anything the timeshare sellers say, merely owning a timeshare is not locking in prepaid future vacations. Even if I get my timeshare(s) el cheapo or el freebo, those maintenance fees & reserve fees & real estate taxes keep on coming year after year.
-- Alan Cole, McLean (Fairfax County), Virginia, USA.
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Rent_Share
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klconley
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One more lifestyle question
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Took me 2 + years to buy my WM membership, in the meantime I rented timeshares for three vacations
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One more lifestyle question
Can you plan vacations 13 + months out with no further adjustments to dates ?
Can you drop everything and be able to travel on 1 to 6 weeks notice ?
If you cannot answer yes to one of these (preferably both) you may be someone that timesharing owning is not right regardless of price
Renting allows you access to timesharing in the middle period
Can you drop everything and be able to travel on 1 to 6 weeks notice ?
If you cannot answer yes to one of these (preferably both) you may be someone that timesharing owning is not right regardless of price
Renting allows you access to timesharing in the middle period
Post Questions
Read
Search
Read
Reread
Decide
Buy
Took me 2 + years to buy my WM membership, in the meantime I rented timeshares for three vacations
Thanks
My husband and I actually own 189,000 points through wyndham. Yes, we got suckered in in the first sales presention and spent 1500 dollars for a one time 189000 points. Yikes. Although no maint. fees! Anyway. We stayed in Las Vegas and have a reservation for Sedona Az. in December. We are excited and do feel that these memberships are for us. As long as there is some cancellation period--which I know wyndham has 15 days I think. If we go for WM, there are many resorts just in our area. I could go and stay by myself sometimes, with a friend, or family. Kelly
My husband and I actually own 189,000 points through wyndham. Yes, we got suckered in in the first sales presention and spent 1500 dollars for a one time 189000 points. Yikes. Although no maint. fees! Anyway. We stayed in Las Vegas and have a reservation for Sedona Az. in December. We are excited and do feel that these memberships are for us. As long as there is some cancellation period--which I know wyndham has 15 days I think. If we go for WM, there are many resorts just in our area. I could go and stay by myself sometimes, with a friend, or family. Kelly