Newbie Questions on where to start

[cdndog]

Hi there! Been lurking around here for awhile and there is tons of great information, which also makes it confusing. Looking for some help on best way to get started with a timeshare...

I've been kicking around the idea of starting with a TS in Las Vegas, NV such as the Grandview, or Gatlinburg Town Square in TN, Orange Lake or Summer Bay resort in FL, whichever ones I get I want to make sure I also get it setup in RCI so I can bank points if some years I don't want to travel there, or trade it for something else. I think the ones above are all available to get setup in RCI.

Also, not looking to buy direct from a resort but looking for something on the resale market, preferably taking over a TS with minimal cost.

Any suggestions on where to start, or a good starter resort? I think the Grandview in Vegas seems to have low maintenance fees, some are offering their TS for free and might be good for me to start with to learn the ropes with RCI and with the low MF it would be a lower exposure, I'm not dedicated to any specific resort or vacation club so open to suggestions on what's best and most flexible.

Also answered the newbie questions below!

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? Gatlingburg, Orlando, Las Vegas

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? Visit home resort half the time, trade it other times

3) What are your 5 top trade destinations?
Gatlingburg, TN, Orlando, FL, Las Vegas, NV, San Francisco, California, Hawaii

4) How many people do you usually travel with - total, including yourself?
5 people

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

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?
3-4

9) How much can you afford to spend upfront, without financing?
Minimal as possible, plan to utilize resale market


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?
$5k

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

 

[jp10558]

Hi there! Been lurking around here for awhile and there is tons of great information, which also makes it confusing. Looking for some help on best way to get started with a timeshare...

I've been kicking around the idea of starting with a TS in Las Vegas, NV such as the Grandview, or Gatlinburg Town Square in TN, Orange Lake or Summer Bay resort in FL, whichever ones I get I want to make sure I also get it setup in RCI so I can bank points if some years I don't want to travel there, or trade it for something else. I think the ones above are all available to get setup in RCI.

So with RCI I think Grandview is pretty simple, you can get the points you want for trade values. I know Gatlinburg Town Square (I just got a unit there, but for hopeful use in II) doesn't transfer the RCI points resale, it transfers as a float week. Which means it's probably weeks vs points based...

Also, not looking to buy direct from a resort but looking for something on the resale market, preferably taking over a TS with minimal cost.

Any suggestions on where to start, or a good starter resort? I think the Grandview in Vegas seems to have low maintenance fees, some are offering their TS for free and might be good for me to start with to learn the ropes with RCI and with the low MF it would be a lower exposure, I'm not dedicated to any specific resort or vacation club so open to suggestions on what's best and most flexible.

Personally I started with the bigger chains - I think the mini systems are easier to understand and cheaper to exchange within than RCI exchange fees. In fact, Wyndham for instance doesn't have many fees for instance, and HGVC is $79 vs $299 for RCI exchange and resort fees. So lets say you were going to get Gaitlinburg 2BR, their MF is about $1,000. Sounds good right? But unless you stay at the home resort - to trade that for say Massanutten (not that you should, but I know their resort fees off the top of my head) that's going to be $1,000 MF, $300 exchange fee, and $125 resort fee. So the cost is $1,425. I'm not sure RCI is a good deal for exchanges really given the high exchange fee and resort fees on top.

Also answered the newbie questions below!

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? Gatlingburg, Orlando, Las Vegas

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? Visit home resort half the time, trade it other times

3) What are your 5 top trade destinations?
Gatlingburg, TN, Orlando, FL, Las Vegas, NV, San Francisco, California, Hawaii

4) How many people do you usually travel with - total, including yourself?
5 people

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

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?
3-4

9) How much can you afford to spend upfront, without financing?
Minimal as possible, plan to utilize resale market


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?
$5k

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

The rest of your replies sound reasonable - most places for 5 people will require a 2BR so that's what you want to price. $5k is plenty in MFs in any system for a single week, and probably enough for 2-3 weeks depending on other factors. I think it'll be harder to trade an independent resort and way more variable year to year vs points in a minisystem. The really good news is except for San Francisco, you should be able to pretty easily use cash stays for non "home resort" in RCI - which IMHO it's much better for. Gatlingburg to stay there, and then just for cash access to RCI may be an OK play... But I don't know how well it would trade for fancy places in RCI.

 

[cdndog]

So with RCI I think Grandview is pretty simple, you can get the points you want for trade values. I know Gatlinburg Town Square (I just got a unit there, but for hopeful use in II) doesn't transfer the RCI points resale, it transfers as a float week. Which means it's probably weeks vs points based...

Personally I started with the bigger chains - I think the mini systems are easier to understand and cheaper to exchange within than RCI exchange fees. In fact, Wyndham for instance doesn't have many fees for instance, and HGVC is $79 vs $299 for RCI exchange and resort fees. So lets say you were going to get Gaitlinburg 2BR, their MF is about $1,000. Sounds good right? But unless you stay at the home resort - to trade that for say Massanutten (not that you should, but I know their resort fees off the top of my head) that's going to be $1,000 MF, $300 exchange fee, and $125 resort fee. So the cost is $1,425. I'm not sure RCI is a good deal for exchanges really given the high exchange fee and resort fees on top.

The rest of your replies sound reasonable - most places for 5 people will require a 2BR so that's what you want to price. $5k is plenty in MFs in any system for a single week, and probably enough for 2-3 weeks depending on other factors. I think it'll be harder to trade an independent resort and way more variable year to year vs points in a minisystem. The really good news is except for San Francisco, you should be able to pretty easily use cash stays for non "home resort" in RCI - which IMHO it's much better for. Gatlingburg to stay there, and then just for cash access to RCI may be an OK play... But I don't know how well it would trade for fancy places in RCI.

Thanks for the information, very helpful! I have been looking at the HGVC Seaworld in Orlando as one of the ones we like in Orlando that we'll use on a regular basis for the next few years, then more than likely exchange it for something different in future years which is where I think RCI comes in, and I think that is more points based like you mentioned.

For RCI, am I correct in understanding you can't join that unless you are an owner of something and have it in the exchange, but once you are a member, even if you don't have enough points you can use cash to purchase a week at a different resort? I thought this where the inexpensive Grandview Las Vegas could be beneficial, I would expect if I purchased one there, I would trade it in the exchange more often than I would stay there, but I think Orlando and Gatlingburg would be a regular vacation.

Thanks again for your help!

 

[Calendar21]

Hi, has anyone gone through and made a spreadsheet of the elite, premier and select resorts with codes, info, etc. (I did see the chart created for comparing companies but I do not have points). I have it all in PDF format but it would be so much quicker to have an excel for sorting and if someone has already created that wheel and was willing to share it would be much appreciated, even if just some version of what I am seeking. If not, well then it may take a bit but I will get on it and share with others - can't only be a "taker" as a newbie ;-). Thx

 

[austdav]

Magic Tree is a gold crown resort in kissimmee about 1 mile from disney. They sell floating weeks and you can purchase them from the resort. You would need a 2bd. and they go for about 1k. 1bd's are usually free but only sleep 4. mf's on a 2bd are only $625. They don't care what trading co. you belong to. I belong to both II & rci but not limited to just those either. Im in the process of selling my hilton seaworld. 3 prime weeks at Magic for the price of 1 at most point systems. Plus they have more to do for free than the point systems in my opinion. Sometimes 2bd's are not always available though, and you have to be on a list to get one. Of coarse you can buy a point system any day of the year.

 

[sponger76]

For RCI, am I correct in understanding you can't join that unless you are an owner of something and have it in the exchange, but once you are a member, even if you don't have enough points you can use cash to purchase a week at a different resort?

Keep in mind the RCI cash stays are not available for every stay that's available for exchanging. They are usually the leftovers that nobody wanted to use their exchange deposits for and have sat unclaimed for a long time.