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New to Timeshares

AndreJose

newbie
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May 3, 2021
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Good Day -

New user here and thankful for all the information on the site. We were recently sold a Wyndham points plan while at Bonnet Creek but thanks to TUG, we have rescinded. I have seen the following survey on a couple of other posts, but didn't see the source of the survey for any other guidance. Please feel free to let me know if more information is needed. We are new to timeshares, in general, and can see the value after a good understanding is in place on how they work best.

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?
No, but I'd say we prefer beach locations. We'd also like to do more international travel.

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?
Most likely trade more than half the time, but also wouldn't be opposed to going to same location if we love it.

3) What are your 5 top trade destinations?
CA
FL
NY
DC
International (TBD)
(Side note - We live near Pittsburgh, PA)

4) How many people do you usually travel with - total, including yourself?
4 in immediate family, but would like to have other family join as well, on occasion. Total not likely to exceed 6-8.

5) Can you travel any time, or are you locked into the school schedule?
We have two kids in school, so travel would likely be during various breaks. We would be open to taking them out during outside of a break, once in a while.

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?
We're not real picky, but probably 3 or higher.

9) How much can you afford to spend upfront, without financing?
20K, but will want to purchase resale for best value

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?
2500/year

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

Also, with the understanding that the timeshare business is not meant as an investment, we are interested in flexibility in renting out to cover maintenance fees and maybe even a profit to cover other travel expenses.

With some initial research, Marriott and Wyndham look attractive. We're in no hurry to purchase, so research will continue and we'll plan to make a purchase later this year, after more comfortable with all the options.

Lastly, are there better times to purchase resale throughout the year? I imagine purchasing now, through Summer, might not be optimal but just a thought with maybe little basis.
 

CalGalTraveler

TUG Review Crew: Veteran
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California
Resorts Owned
HGVC, MVC Vistana
Welcome to TUG! Congrats on finding TUG in time to rescind your Bonnet Creek and saving a bundle by going resale. For our records can you let us know how much money they were asking for Bonnet Creek that you rescinded? cc @Grammarhero

re: your questions. Take your time and research. Prices will only go down. Best time to buy is August - November when people, have used their unit for 2021, receive their maintenance fee bills and decide to sell.

re: Locations and variable size of your group. You might do better with a deed-based points program such as HGVC (Hilton Grand Vacations) or Vistana (owned by Marriott). Vistana won't have your locations except for Calif desert and Florida (but Florida is easy to trade/rent). HGVC will tick the box for Calif (Carlsbad), Some Europe (Scotland, Italy) and you can change room sizes and resorts using points. NYC and DC are also in HGVC but you will need to be able to make plans within 90 days for these locations to get with club points or you need to own there. If you are on the East Coast that would work but if you need to fly that could be rolling the dice because you get those locations as leftovers from other owners. Sometimes the larger units beyond a studio for 2 are gone, or you need 2 studios.

Marriott also has your locations but not sure you will be able to trade easily for 2 bdrms in Interval because Tuggers have reported that that they are increasingly splitting 2 bdrm lockoffs into 1 bdrms and studios to earn more trading fees. However I am not sure if that applies to the Marriott preference period. You may be challenged getting enough rooms for your larger parties unless you trade within a mini-system. Since you also travel during peak times you will also need to trade in a mini-system and reserve right when the trading window opens 9 - 12 months prior.

Worldmark may be a possibility but I no little about that system other than it tends to be 3*+ quality and has more west coast resorts.
 

montygz

TUG Member
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Feb 27, 2012
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Now that you have discovered timeshares, rent them for a while to learn about the various systems, quality and locations.

Renting lets you experience them without getting locked into a system or expense you can't easily get rid of.

After renting for a while, you'll learn what works best for you. You may just want to continue renting or it may make sense to buy.
 

bnoble

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It sounds like you might be a good candidate for a points-based timeshare. Marriott vs. Wyndham is a cost/quality tradeoff question. Marriott is definitely more expensive--even resale--but the resorts are very consistent, and overall a notch above Wyndham's on average. Wyndham resorts tend to be a little more variable from location to location, but they can be very affordable on the secondary market.
 

AndreJose

newbie
Joined
May 3, 2021
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Welcome to TUG! Congrats on finding TUG in time to rescind your Bonnet Creek and saving a bundle by going resale. For our records can you let us know how much money they were asking for Bonnet Creek that you rescinded? cc @Grammarhero

re: your questions. Take your time and research. Prices will only go down. Best time to buy is August - November when people, have used their unit for 2021, receive their maintenance fee bills and decide to sell.

re: Locations and variable size of your group. You might do better with a deed-based points program such as HGVC (Hilton Grand Vacations) or Vistana (owned by Marriott). Vistana won't have your locations except for Calif desert and Florida (but Florida is easy to trade/rent). HGVC will tick the box for Calif (Carlsbad), Some Europe (Scotland, Italy) and you can change room sizes and resorts using points. NYC and DC are also in HGVC but you will need to be able to make plans within 90 days for these locations to get with club points or you need to own there. If you are on the East Coast that would work but if you need to fly that could be rolling the dice because you get those locations as leftovers from other owners. Sometimes the larger units beyond a studio for 2 are gone, or you need 2 studios.

Marriott also has your locations but not sure you will be able to trade easily for 2 bdrms in Interval because Tuggers have reported that that they are increasingly splitting 2 bdrm lockoffs into 1 bdrms and studios to earn more trading fees. However I am not sure if that applies to the Marriott preference period. You may be challenged getting enough rooms for your larger parties unless you trade within a mini-system. Since you also travel during peak times you will also need to trade in a mini-system and reserve right when the trading window opens 9 - 12 months prior.

Worldmark may be a possibility but I no little about that system other than it tends to be 3*+ quality and has more west coast resorts.
Thank you, this helps! I haven't really looked at Hilton, so I'll take a look at their offering.

We're still in the waiting period to get the refund but I do know that they have received the rescission letter. The deposit was about $4K and the total purchase price was almost $20K.
cc @Grammarhero
 

AndreJose

newbie
Joined
May 3, 2021
Messages
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It sounds like you might be a good candidate for a points-based timeshare. Marriott vs. Wyndham is a cost/quality tradeoff question. Marriott is definitely more expensive--even resale--but the resorts are very consistent, and overall a notch above Wyndham's on average. Wyndham resorts tend to be a little more variable from location to location, but they can be very affordable on the secondary market.
Thank you - Yeah, while doing some shopping for resale offering, I was a bit surprised to see $1-2K price tags for Marriott offering (which, of course, is much better than what we'd see via the developer). I think this speaks to your point, though, in the consistent quality.
 

AndreJose

newbie
Joined
May 3, 2021
Messages
5
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Now that you have discovered timeshares, rent them for a while to learn about the various systems, quality and locations.

Renting lets you experience them without getting locked into a system or expense you can't easily get rid of.

After renting for a while, you'll learn what works best for you. You may just want to continue renting or it may make sense to buy.
Thank you - Just by chance, we rented the Bonnet Creek resort condo via Vrbo, and I was a bit skeptical as to why is was so affordable while comparing to a normal hotel. I like this idea as we continue our research.
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
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Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 154k & Bali Hai 105k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HVC South Bend 1/1
Thank you - Just by chance, we rented the Bonnet Creek resort condo via Vrbo, and I was a bit skeptical as to why is was so affordable while comparing to a normal hotel. I like this idea as we continue our research.
You can buy Bonnet Creek for $1, although you'd still have to pay MF. A good way to stay at Wyndham Bonnet Creek for cheaper is to get Wyndham Grand Desert resale (MF about $5.1/1k compared to $6.6/1k for BC), but those TS may cost $1k on ebay. I have Grand Desert, and I love it. Just be careful of scams when buying resale.
 
Last edited:

geist1223

TUG Member
Joined
May 20, 2015
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6,344
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Location
Salem Oregon
Resorts Owned
Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
In that you live in PA Worldmark might not be a good choice. Worldmark Resorts are primarily located West of the Mississippi.
 

rrsafety

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Jun 29, 2012
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Location
New England
"6) Can you make firm plans 12 or more mos. in advance?
Yes"

Depending on ages, be careful with this. If your kids get into sports/dance the commitment required will not be known that far in advance. Club soccer, competitive dance are two examples of 12 month a year commitments. Crazy, but that is what happens if your kids get involved and are good at it.
 

CPNY

TUG Member
Joined
Jun 18, 2019
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7,621
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4,499
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Thank you - Yeah, while doing some shopping for resale offering, I was a bit surprised to see $1-2K price tags for Marriott offering (which, of course, is much better than what we'd see via the developer). I think this speaks to your point, though, in the consistent quality.
Take a look at HGVC. I believe they have some nice properties in the areas you’re looking for. That exchanges in RCI which would then give you access to Wyndham resorts.

Marriott also gives you many options in the areas you’re looking for.
 

bnoble

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Depending on ages, be careful with this. If your kids get into sports/dance the commitment required will not be known that far in advance. Club soccer, competitive dance are two examples of 12 month a year commitments. Crazy, but that is what happens if your kids get involved and are good at it.
This is true, but it is also (thankfully) a relatively small number of years for most kids. My son was on the radar of some Big 10/ACC teams for soccer before he decided not to play in college and stopped his recruiting process, and even for him this only lasted five years or so.
 

AndreJose

newbie
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May 3, 2021
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5
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7
Thank you, this helps! I haven't really looked at Hilton, so I'll take a look at their offering.

We're still in the waiting period to get the refund but I do know that they have received the rescission letter. The deposit was about $4K and the total purchase price was almost $20K.
cc @Grammarhero

Look what I got via email, this morning. Wasn't expecting confirmation, but happy to see something. BTW, in the cancellation guidance in the contract, they provided two different mailing addresses. I mailed letters to both addresses (both certified with read receipts) just to be sure. The TUG guidance worked!

2021-05-13 07_43_22-2021-05-13 07_42_24-Cancellation 20210505 - Google Drive.jpg - Greenshot i...jpg
 
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