New To TS's. If you were me what would you do.

[GuitarKidd]

Hey all, great forum. Love the net for things like this.

So my wife was looking into one of those $199.99 deals for 4days 3 nights deals via the Holiday In Orange Lake Resort in Orlando. Timeshares have always been of interest to me, but I have heard many horror stories. But this trip (which we are probably NOT going to do) has peaked our interest.

From what I can tell, there is "Best Practice" when it comes to timeshares and purchasing (if that's what we call it).

If you were my family and I. We are in our mid to late 30's, a 12 year old and 6 year old with no plans to expand that, what woudl you look into doing.

For us, we love a good vacation. We are do not necessarily want to buy into a single location, but that is certainly not out of the option, just depends on the resort and where it's at and what week and of course cost.

I've been reading on here, and it is daunting. There is a LOT of information. But if your like us, who have not bought into anything and you are starting fresh from square one, how would you do it.

From what I understand, it's possible to buy a TS that has been paid off, or partly paid off from resources such as eaby and other locations on the web for pennies on the dollar compared to it's original price. All we than have to do is pay the MF's (which appear to rise all the time).

I would like somewhere in Orlando, but read that it doesn't trade well. But I am not sure how all that works.

But if you are like me, I research and like to get the best bang for my buck, what is the first thing we do? (and this is nothing that has to happen right away. Still learning the ropes).

If TS's are something we shoudl stay away from, we are just as happy with that answer as well... or possibly renting one.

For example (as I edit here), here is one on Ebay in Myrtle Beach. What exactly am I reading on this auction.
http://www.ebay.com/itm/2BR-MYRTLE-...60983981002?pt=Timeshares&hash=item3cc3db83ca

 

[horsecreek]

Need to work within kids schedule.

Your example is week 21 so end of May. We love the beach but remember kids school schedule. The Tug resort reviews are very helpful to determine if resort is nice. If I were you I'd join Tug and read about the resorts. Then rent a couple times, there are plenty of resorts available on Tug. I have rented two weeks with no problems. It is hard to be patient, I know.

 

[timeos2]

From what I can tell, there is "Best Practice" when it comes to timeshares and purchasing (if that's what we call it).

The rule is NEVER buy from a developer. Virtually every resort you'd ever want is / will be available on a resale for at least 50% less - often 99% less than buying "new" (which is no different than "used". ALL timeshare units are used. The only potential difference in what you buy resale vs developer are some "perks" the Developer may throw in, usually not guaranteed to last, to make their much higher price a bit palatable. Speaking generally those are never worth the extra cost except in extremely limited cases - so limited as to be a non-consideration for most first time buyers).

If you were my family and I. We are in our mid to late 30's, a 12 year old and 6 year old with no plans to expand that, what woudl you look into doing.

For us, we love a good vacation. We are do not necessarily want to buy into a single location, but that is certainly not out of the option, just depends on the resort and where it's at and what week and of course cost.

I've been reading on here, and it is daunting. There is a LOT of information. But if your like us, who have not bought into anything and you are starting fresh from square one, how would you do it.

From what I understand, it's possible to buy a TS that has been paid off, or partly paid off from resources such as eaby and other locations on the web for pennies on the dollar compared to it's original price. All we than have to do is pay the MF's (which appear to rise all the time).

I would like somewhere in Orlando, but read that it doesn't trade well. But I am not sure how all that works.

#1 rule after buy resale is buy to use! If your buying a week then that means buy where you want to go. IF that is Orlando then buy there! A good week (or even better a float week as virtually any time of year may be a time you want to visit - being limited to one can be far too restrictive). Trade power in Orlando can be very good with a popular , and usually not overly large, resort. Mostly remember your family has to enjoy where you own or you'll regret it. Buying to trade is a big mistake made by far too many buyers. IF you want to use but not always the same resort then buy into a large points/multi-resort system such as Wyndham. A small "system" is worse than a deeded week for that purpose. You want the most internal trades that you can find.

But if you are like me, I research and like to get the best bang for my buck, what is the first thing we do? (and this is nothing that has to happen right away. Still learning the ropes).

If TS's are something we shoudl stay away from, we are just as happy with that answer as well... or possibly renting one.

For example (as I edit here), here is one on Ebay in Myrtle Beach. What exactly am I reading on this auction.
http://www.ebay.com/itm/2BR-MYRTLE-...60983981002?pt=Timeshares&hash=item3cc3db83ca

This is a "shoulder" week in a summer area. A good purchase price but realize that the real cost is the annual fees NOT the purchase price. This would likely be a fair trader not great. That may still be a school week so your family may not be able to use it. And niether can other families tied to the school calendars. You want to buy the BEST (highest demand) time at whatever resort/system you by into to maximize rental & trade value as well as being the time you would like to use.

Keep asking questions as you are on the right track it seems. Watch for summer weeks or a good price on a Wyndham type system and you'll do fine.

 

[Passepartout]

First. Welcome to TUG. There is more TS info here than anywhere on the web. All you have to do is find it. You are really lucky (and smart) to be doing the research leg-work before you part company with your hard-earned money.

DeniseM (A generous TUG moderator) has a real handy questionnaire you can go through that will channel your thinking about what TSs fit your needs and wants. I'll try to find it and post it for you.

Renting a few times will also help you see what this TS thing is all about. The TUG Marketplace up in the red stripe above is a good place to look. Often you can rent for less than the cost of MF. And unlike the 'discovery package or whatever the thing you first mentioned, no requirement to attend a 'sales presentation' They generally aren't pleasant when you say 'NO'.

There is lots to look at. Many bargains. Start with the Newbies section and since you are looking to vacation in multiple locations, the mini-systems may be of interest to you. Look at the forums of those. Living in the East, Wyndham may be a good fit for you and there is an active Wyndham owners organization on TUG. Way too many acronyms and ranking of ownerships and timing issues for me, but that doesn't make them a bad system.

Happy searching and learning. With much credit to DeniseM: Answer these questions to help you decide about TS.

Here are some questions for you to answer about your timesharing goals so we can advise you more accurately - click the quote button, and you can answer them on the next page:

1) Where do you want your home resort to be?

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?

3) What are your 5 top trade destinations?

4) How many people do you usually travel with?

5) Can you travel any time, or are you locked into the school schedule?

6) Can you make firm plans 12 or more mos. in advance?

7) Can you vacation for a full week at a time?

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?

9) How much can you afford to spend upfront, without financing?

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?

11) Are you a detail oriented planner?

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?

Jim

 

[hypnotiq]

Denise's awesome list.

Here are some questions for you to answer about your timesharing goals so we can advise you more accurately - click the quote button, and you can answer them on the next page:

1) Where do you want your home resort to be?

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?

3) What are your 5 top trade destinations?

4) How many people do you usually travel with?

5) Can you travel any time, or are you locked into the school schedule?

6) Can you make firm plans 12 or more mos. in advance?

7) Can you vacation for a full week at a time?

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?

9) How much can you afford to spend upfront, without financing?

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?

11) Are you a detail oriented planner?

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?

 

[Beefnot]

Buying to use is indeed good sound advice, but if you are savvy, or plan on becoming savvy, buying to trade can be every much as viable as buying to trade.

 

[Gophesjo]

One other issue about the Harbour Lights example you cited from Ebay. I think that that listing incorrectly states the maintenance fees for that week/unit. I have just bought a bluegreen points contract with an annual summer 2 BR 2 BA week at HL as the underlying deed in the BG trust fund, and the MF's are 80 percent higher than what you have quoted. It is possible that the BG trust fund fees cause the MF's to go that much higher than the underlying unit, but I doubt it. So, I am rather inclined to think that the issue is an error in the Ebay listing.

 

[GuitarKidd]

First. Welcome to TUG. There is more TS info here than anywhere on the web. All you have to do is find it. You are really lucky (and smart) to be doing the research leg-work before you part company with your hard-earned money.

DeniseM (A generous TUG moderator) has a real handy questionnaire you can go through that will channel your thinking about what TSs fit your needs and wants. I'll try to find it and post it for you.

Renting a few times will also help you see what this TS thing is all about. The TUG Marketplace up in the red stripe above is a good place to look. Often you can rent for less than the cost of MF. And unlike the 'discovery package or whatever the thing you first mentioned, no requirement to attend a 'sales presentation' They generally aren't pleasant when you say 'NO'.

There is lots to look at. Many bargains. Start with the Newbies section and since you are looking to vacation in multiple locations, the mini-systems may be of interest to you. Look at the forums of those. Living in the East, Wyndham may be a good fit for you and there is an active Wyndham owners organization on TUG. Way too many acronyms and ranking of ownerships and timing issues for me, but that doesn't make them a bad system.

Happy searching and learning. With much credit to DeniseM: Answer these questions to help you decide about TS.

Here are some questions for you to answer about your timesharing goals so we can advise you more accurately - click the quote button, and you can answer them on the next page:

1) Where do you want your home resort to be?
Hmmm. Myrtle Beach is a Great Place for us. Easily one day drive if needed. But Orlando (since I and my kids have not been to Disney ever, wife has) would be a very very strong second if not first.

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?
Yes.

3) What are your 5 top trade destinations?
Since I really am not sure how "Trading" works, I'm not sure how to answer this. But if I had to choose. Disney, Myrtle Beach, Resorts along the east coast.

4) How many people do you usually travel with?
4

5) Can you travel any time, or are you locked into the school schedule?
Right now stuck to school. But it's not out of the question to be able to pull them out if needed. But we would prefer summer months.

6) Can you make firm plans 12 or more mos. in advance?
Absolutely, but have the option to plan short term if needed. We are going to Myrtle Beach this weekend and all of next week and planned that 3 months ago.

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?
3-5

9) How much can you afford to spend upfront, without financing?
1k

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?
5-700

11) Are you a detail oriented planner?
Try to be

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.

 

[Ridewithme38]

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
3-5

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?
5-700

This maybe a problem, i own at one place that i consider 2-3 Stars(Wydham Patriots Place in Williamsburg) where the MF's is $816 a use year and one place i consider 3-4 stars(Sheraton Broadway Plantation in Myrtle Beach) where the MF's are $1,122.66 a use year

For 3-5 stars i'd be estimating $1000-$2500 a year

 

[GuitarKidd]

This maybe a problem, i own at one place that i consider 2-3 Stars(Wydham Patriots Place in Williamsburg) where the MF's is $816 a use year and one place i consider 3-4 stars(Sheraton Broadway Plantation in Myrtle Beach) where the MF's are $1,122.66 a use year

For 3-5 stars i'd be estimating $1000-$2500 a year

See I have no Idea really how to answer that. Trust me, most places, will probably be a lot better than what we are used to around here in Akron. So I 2 star down there I would think is amazing.

So I get a PM on this place.

http://www.tugbbs.com/forums/showthread.php?t=163409

MF's are $678.00 Resort looks nice per their website.

Here are the details incase you don't want go to the link.

Free. Big one bedroom at the gold crown Summer Bay Resort in Orlando. Building 405.

Prime floating annual week in the highest season. Pick any week of the year you choose to reserve. 1-51. Week 52 can be reserved like 120 days before check in.
Free and clear, fees up to date. Usage will start in 2013. No maintenance fees due until Jan. 2013.

MF"s were 678. Resort fees can be paid over time during the year.
Just take over the mf' and enjoy a week every at this beautiful, relaxing and joyful resort. Full of free activities for the kids. Many pools to enjoy onsite with Free transportation to Disney Parks.

Free. Reduced closing costs and transfer fees total 150 to be paid by the buyer. A nominal cost. Great for a newbie who would like to go to Orlando at any time of the year.

Not that I don't trust the seller, but is there anything that I should know about if we were to consider this?

 

[durrod]

You can still get a nice place in the 600-700 mf range

In orlando you can still get a fairly nice place for in yhe 600-700 anuual mf range. This would be for a one bedroom. There are not the top brands but still nice, some are independent resorts.I can recommend Summer bay resort, nice family oriented resort. cypress pointe, mystic dunes parkway vacation villas to mention some.

 

[vacationtime1]

In orlando you can still get a fairly nice place for in yhe 600-700 anuual mf range. This would be for a one bedroom. There are not the top brands but still nice, some are independent resorts.I can recommend Summer bay resort, nice family oriented resort. cypress pointe, mystic dunes parkway vacation villas to mention some.

This is probably true, but I suggest you look only at two bedroom units. Think long term; your kids are not going to want to share a sofabed in the living room forever. One of the greatest benefits of timesharing is space (the other is a kitchen); don't sacrifice that benefit if you don't have to.

 

[Passepartout]

I think the estimate of MF is low, too. He wants to have 3-5* accommodations for 4 people. That means Wyndham to Disney/Hilton quality for 2 bedroom units. He's looking at the better part of $2000.

Briefly, Guitar, Wyndham, is a point system where you buy a certain number of points based at a 'Home' resort where the value is based. Then you can use those points as 'currency' to go into many resorts. You are not 'bound' to your own. Key here as I understand it is to buy where the MF/point cost is low then trade into the more 'desirable'- (expensive) resorts. Another Wyndham advantage is the ability (necessity?) to simply have your MF deducted from your checking account monthly- hence no end-of-year surprise.

Others will chime in with plenty of ideas to study. Don't be intimidated. There is no hurry.

Have fun with it. If you haven't figured it out by now, we all like our TS vacations and like peanuts- you can't have just one.

Jim

 

[presley]

So my wife was looking into one of those $199.99 deals for 4days 3 nights deals via the Holiday In Orange Lake Resort in Orlando. Timeshares have always been of interest to me, but I have heard many horror stories. But this trip (which we are probably NOT going to do) has peaked our interest.

You could still take this trip, but just bring some printed out Ebay ads when you go to the sales presentation. That may help shut the up faster.

Since Myrtle beach and Orlando seem to be your top picks, I'd suggest only buying at one of those locations. Sure you can do exchanges, but companies are always changing their rules, adding fees for stuff, etc. If you buy something that you will be happy with in the event that you get stuck with only being able to stay there, you will still be a happy traveler.

Shop around for a long time. Many of the big time sellers on Ebay also have their own websites, which may have even better deals than their Ebay ads.

If you can, visit and walk around any resorts that you are considering buying. Annual dues will go up every year, so that is often a more significant consideration than the selling price. However, as you have probably already seen, you can get some really nice resorts for around $1000. right now.

Keep shopping, keep reading and keep asking questions.

 

[Beefnot]

I've got a 2BR in Orlando (that is II Premier rated for what it's worth) for sub-$600 in MFs. And because I can reserve/deposit prime weeks, it trades pretty decently.

 

[Beefnot]

Also, I would recommend a 2BR or 2BR lockoff. As the kids get older, that extra bedroom will feel less cramped. Or with a lockoff, you can still travel in the 1BR for two diff weeks during the year, or deposit the other side with an exchange company to trade somewhere else.

 

[Gophesjo]

You might also consider Hilton Head Island. It is a very different vibe than Myrtle Beach, but timeshare properties there are generally better in quality than the Myrtle Beach properties, and the area is less overbuilt than either MB or Orlando. The upshot is that your unit would generally (for similar annual maintenance fees) have greater trading value than would many of the MB properties or Orlando properties.

 

[theo]

My $0.02 worth...

I'll just echo the advice already provided by others above that you should definitely rent before (...if not instead of) buying a timeshare. If, after conducting a rental or two, you decide to take on the albatross of permanent ownership, you can easily find resales all day every day at "a dime a dozen".
I don't see that picture changing anytime in the foreseeable future.

In summary, don't be in a rush and rent before (...if not instead of) buying.

 

[SOS8260456]

One thing that sticks out to me is that you have never been to Orlando. Before committing to a yearly unit there, I would definately consider visiting the place. It is a love it or hate it destination. Personally, all of our vacations are centered around it or the beach, but that might not be everyone's cup of tea. The problem with Orlando is that park tickets are very expensive, so that needs to be considered in vacation costs. Although, a lot of the timeshares are vacations just by themselves. If you buy Orlando and then realize you don't want to vacation there, there is a lot of debate on how well those units rent/trade. Also, if you start getting into trading, there are fees that need to be taken into consideration for that also.


Wyndham has been mentioned on this thread as a great mini-system and that is the system we are most involved with. However, we are starting to dabble in Bluegreen points and that system has a lot of great benefits that should be considered, also. Worldmark is another great mini system, but their resorts are mostly west coast and the buy in cost is much higher.

One other piece of advice, in regards to park tickets, that I picked up from TUG early on, was to consider annual passes at the various places. Vacation places like Orlando or Williamsburg can be made more affordable by overlapping your yearly vacations to get 2 year's vacations within 12 months. For example, we went to Disney last August and this year we will go in June. We purchased annual passes, so will get to use the passes on at least two trips. We have never been to Williamsburg (it is on our list), but some parks there are associated with parks in Orlando and the same annual pass will cover both places.

Just some additional things to consider.

Oh, and definately go for the 2 bedroom or larger. When you are going from a hotel unit to a 1 bedroom, it seems so roomy and that it will be enough space. But when you can get a 2 bedroom or larger for the same price/cost, why not?

Good luck!

 

[GuitarKidd]

Thanks for the reply's all. I believe that we are probably going to shoot for Myrtle Beach, SC area.. maybe even HH or something along those lines. I think you guys are right with the Orlando area, plus SC is within a Days drive for us. 1.5 tanks of gas...

But Orlando is not out of the question if it could trade into MB fairly easy. I just dno't know how the whole trading/exchanging things work. More reading to do on my part I guess.

But renting in Orlando is probably a great idea and will certainly look into that. I know we are going to do Disney/Universal at least once for our kids and my sake. So it's something we are going to consider.

 

[Ridewithme38]

Let me add a little bit to this discussion...When going for a Hotel room to a Timeshare, i agree that you will want a 2br instead of a 1br, not just because of the space, but because of the bed setups...A lot of Hotel rooms are setup with two beds, when you get a 1br Timeshare, that will only have a SINGLE(Full,Queen,King Sized) BED and Maybe a Pull out couch....let me say, i tried sleeping on a pullout couch on my first TS stay...it was hell

For a family of 4, i'd recommend ATLEAST a 2br, and with some places a 2br might not be enough, i've noticed about half of the Timeshares i've stayed in had only one bed in the second bedroom, the kids won't like that if they're teenagers and still sharing!

 

[Larry]

Thanks for the reply's all. I believe that we are probably going to shoot for Myrtle Beach, SC area.. maybe even HH or something along those lines. I think you guys are right with the Orlando area, plus SC is within a Days drive for us. 1.5 tanks of gas...

But Orlando is not out of the question if it could trade into MB fairly easy. I just dno't know how the whole trading/exchanging things work. More reading to do on my part I guess.

But renting in Orlando is probably a great idea and will certainly look into that. I know we are going to do Disney/Universal at least once for our kids and my sake. So it's something we are going to consider.

From your posts it sounds like if you buy in Myrtle Beach you will want a summer week, which would meet your needs and trading from a MB summer week to Orlando will be an easy trade, but if you buy in Orlando to trade into a summer week in Myrtle Beach, that would be a difficult trade.

Trading from Orlando to a summer week in Hilton Head would be almost impossible unless you owned at a DVC resort which is way over your budget ( $1,000).

 

[easyrider]

Not that I don't trust the seller, but is there anything that I should know about if we were to consider this?

I wouldn't buy anything in Orlando. You can rent a very nice timeshare without the hassels of ownership in Orlando for very little.

http://www.skyauction.com/vacation/florida
Skyauction has a bunch of Orlando timeshares for rent.

www.redweek.com
Tug Classified
www.myresortnetwork.com

The main thing to think about when buying a timeshare is "How do I get rid of it". Keeping that in mind there are only a few options. Buy a resale contract that expires called a "Right to Use" or buy a popular points system like Worldmark.

Good Luck
Bill

 

[Passepartout]

Guitar, IMO keep looking. I'd consider Myrtle Beach. Or possibly Great Smoky Mountain locations. Or Va Beaches Or Ocean Beach MD. If you want beach. These will cost more both in initial purchase price and in MF. Orlando is so overbuilt that rentals into there are easy and inexpensive. And since you are tied to the school schedule, Summer in Florida is hot, humid, and crowded. Not my idea of a wonderful place to pay through the nose to vacation. Remember that the lodging at Orlando is one thing. The hundred$ of Buck$ for pa$$e$ and ticket$ is another.

Keep reading. Keep looking at eBay, the TUG marketplace, Redweek. Just don't hurry. Rent a few times- or as Theo suggests, maybe indefinitely. The deals aren't going away.

Have fun with this, and again, welcome!

Jim

 

[easyrider]

Isn't Bluegreen kind of like the Worldmark of the east coast ? Its a point system timeshare that has many resorts that can used similar to how we use Worldmark on the West Coast. If its anything like Worldmark it would also be a good trader.

http://www.tugbbs.com/forums/showthread.php?t=124349

http://www.bluegreenonline.com/explore/home.aspx

I wouldn't consider ever being locked into one deeded resort, no matter where it is. With a point system you get multiple locations to choose from with out ever trading.


Bill