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Newbie seeking help, should I buy?

majorfriend

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Hello,
I've been contemplating buying a timeshare (looked at resale offerings on eBay, but also intrigued at some of the options available here) for some time. So far what has mainly put me off is the commitment. My dad owns a timeshare and has gotten great use out of it, but when I look at the options to purchase extra vacations through RCI I'm not that impressed.

That being said we are in a more stable financial situation now and I am more comfortable taking on a bigger commitment, so trying to find the best deals for us to travel. A little about us:
We generally like to take 2-3 one week vacations per year. I usually am able to purchase our accommodations at resorts (we have stayed at Orange Lake Resort and Vistana Villages in Orlando and Wyndham Oceanside in CA) for about $1000/week give or take. When I look at some of the RCI offerings on eBay I see 90,000-98,000 point timeshares with MF of about $900. Once you throw in taxes, exchange fees, resort fees etc. I would guess I will be close to $1800 total. If I can manage to get 2 weeks out of that it will offer me a savings of just $200. Is my math wrong on that?

Would I be able to get 3 weeks out of a 90,000 point timeshare (generally looking for 1 bedroom gold crowns, not locked into red season but probably would have at least 1 week in red season)?

Doesn't it make more sense to purchase on the last minute offerings posted in this group, or watch for other deals where I can purchase a week for $700-$1000?

I have been reading up on here, but I'm looking for some advice more specific to our situation. Here are the answers to the suggested questions:

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

Most of the time we will probably use 1 of our 2 yearly vacations in Orlando.

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?

Might if its in Orlando, but my understanding is Orlando isn't the best place to purchase

3) What are your 5 top trade destinations?

Orlando, Texas, East Coast (Virginia, Pennsylvania), Hawaii, Europe

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

3, two adults one child but want to plan for a second child in the future

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

Any time is usually fine, 1 of our 2 trips is best taken in summer

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?

4 stars usually (when I search on Kayak I filter by 4+ stars and 8+ review ratings, been happy with RCI gold crowns, would not likely consider silvers or below)

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

For the right deal could go up to $5000, but from what I see is available I don't think it makes sense to spend more than a few hundred. Correct me if I'm wrong.

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?

$2000 - but this part of what concerns me. I don't like the idea of being locked into a contract with no control over how much I will owe. What if they raise the price by 20% each year, that could get rather ridiculous in just a few years. Also want to be sure I can get out of it, but if buy one off ebay for a dollar or two I can get out by giving it away. Is that realistic?

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, see answer to question 10.
 

Grammarhero

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If you like Orlando, you might be better off renting Bonnet Creek (Wynham’s four star resort) from Tuggers. Tons are available at https://tugbbs.com/forums/index.php?forums/timeshare-rentals-offered.45/

Try Wyndham. They have locations that you mentioned except Europe. Availability is on page I.
http://www.nxtbook.com/nxtbooks/wyndham/plus_membersdirectory1819/index.php#/19

Wyndham is also easy to give back to Wyndham via Ovations.

You can get free Wyndham TS at TSN. They are out but you can check daily.
https://www.timesharenation.com/resort/Wyndham-Points

I bought 371k Wyndham pts for $200, including a Grand Desert EY for free. I’m also attaching a MF chart for you. The ones with lower MF have a higher sales price. For example, Canterbury 100k EY regularly sells for $1k+ sales price

Best of luck!
 

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geist1223

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While I am not a Member of Wyndham from what I have read the 90,000 Points might get you one week off season in a lower quality Wyndham.

Check out the Nnxtbook Grammarhero lists above. A 2 Bedroom 1 week in the Orlando area will cost you about 180,000 Points.
 
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Grammarhero

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Or you can rent from tuggers for $800/week at Bonnet Creek 2BR2BA.
 

majorfriend

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Thanks for the responses, seems like for the time being you all agree that the best way to spend the money is to rent from current owners. I think that is what we will plan on for now. Any advice on renting from current owners? Are the forums here the best place to find availability?

Thank You!
 

amycurl

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I would concur about renting. Unless you are trying to lock in "guaranteed" yearly reservation somewhere that is hard to trade into (Eastern beaches in summer, some European resorts, Hawaii in winter, south FL in winter, etc.,) renting might be your best bet. Since you want Orlando at least half the time, have flexibility in your schedule, and are willing to go to any number of resorts or places, as long as they are of a certain quality filter, I think renting is right for you....at least until you fall in love with a place and decide the risk of not getting what you want, when you want it, for a reasonable cost is no longer worth it--then buy.
 

SteelerGal

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I agree w/ renting. We rented before owning. And even now will rent if we have a particular need. I have rented off of Redweek and from friends.
 

Mrs.SLLP

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I would concur about renting. Unless you are trying to lock in "guaranteed" yearly reservation somewhere that is hard to trade into (Eastern beaches in summer, some European resorts, Hawaii in winter, south FL in winter, etc.,) renting might be your best bet. Since you want Orlando at least half the time, have flexibility in your schedule, and are willing to go to any number of resorts or places, as long as they are of a certain quality filter, I think renting is right for you....at least until you fall in love with a place and decide the risk of not getting what you want, when you want it, for a reasonable cost is no longer worth it--then buy.
 
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