Overwhelmed

[YakMan]

First off, thanks for a great site and all the great info. I have been digesting all of this for a week or so, but still so much to learn...

My wife and I have attended a couple of retail presentations and are very interested in the whole TS concept. Our main objective is going to be to trade our yet to be purchased unit and travel to places with beaches; coastal US, maybe Hawaii again, Mexico, Caribbean. At this point we are flexible in destination, but somewhat limited in schedule due to the kids school.

I am overwhelmed by the number of choices (points, floating week, fixed week) and the misinformation dispensed by the resort sales people.

We are leaning towards finding a two bedroom with a lock-off option that will maximize the trading flexibility. We live in Colorado and have looked at some of the ski resort offerings, namely Breckenridge (Grand Timber Lodge) with a floating winter week. We have also considered one of the Hawaiian or CA options.

Keeping in mind that we are looking to maximize trading power, spend under $20k (prefer $10k -$15k), what advice can you give this rookie.

Thanks in advance!

 

[DeniseM]

Welcome to TUG!
My reccommendations

 

[Talent312]

BUY RESALE is a refrain that the locals try to teach all newcomers.
There is absolutely no reason you should buy direct from a resort or developer unless you want to purchase a property that will be worth only 1/2 to 1/3 of what you paid the moment your right to rescind expires.

Also, since you seem to more interested in exchanging than staying put, you might focus more on point or a blended points-for-week programs in which you can reserve at different locations+seasons using your points, rather than a hope-to-trade approach. <just my 2 cents>

 

[bnoble]

I have been digesting all of this for a week or so

Well there's your problem right there!

More seriously, take your time---it's very easy to buy a timeshare, and very hard to sell one. No reason to hurry. You have a very stringent set of criteria---beach destinations during school holidays. It turns out, that's what everyone wants, but there aren't many such units. Spend the time it takes looking for the right fit, and in the meantime take advantage of the many excellent rentals you can find here at TUG and elsewhere.

 

[AwayWeGo]

Too Rich For Our Blood.

Keeping in mind that we are looking to maximize trading power, spend under $20k (prefer $10k -$15k), what advice can you give this rookie.

I would never spend that kind of money on timeshares -- new, used, points, weeks, foreign, domestic, in-season, off-season, sea coast, inland, you name it.

We like timeshares only because they let us vacation in luxury accommodations for roughly Motel 6 & Super 8 rates. Otherwise we'd be staying in hotels & motels for roughly Motel 6 & Super 8 rates.

We have about $5,500 tied up in four -- 4 -- timeshares, & no way that's a TUG record. Any number of TUG folks have more which they got for less that are better than ours.

Click here for our (more or less) complete timeshare story -- not necessarily a model to follow, but how 1 regular walking around couple got into timeshares for way less than $10,000 - $15,000. We have just as much fun with our el cheapo timeshares as anybody who paid major money for the biggest, plushest, most fancypants timeshares anywhere around.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Canuck]

I agree with the other Tuggers....don't purchase new. You can find a great deal from someone who wants to get rid of theirs.

I also sent you a private message.

 

[Mjasp]

First off, thanks for a great site and all the great info. I have been digesting all of this for a week or so, but still so much to learn...

My wife and I have attended a couple of retail presentations and are very interested in the whole TS concept. Our main objective is going to be to trade our yet to be purchased unit and travel to places with beaches; coastal US, maybe Hawaii again, Mexico, Caribbean. At this point we are flexible in destination, but somewhat limited in schedule due to the kids school.

I am overwhelmed by the number of choices (points, floating week, fixed week) and the misinformation dispensed by the resort sales people.

We are leaning towards finding a two bedroom with a lock-off option that will maximize the trading flexibility. We live in Colorado and have looked at some of the ski resort offerings, namely Breckenridge (Grand Timber Lodge) with a floating winter week. We have also considered one of the Hawaiian or CA options.

Keeping in mind that we are looking to maximize trading power, spend under $20k (prefer $10k -$15k), what advice can you give this rookie.

Thanks in advance!

I have to agree with all here. BUY RESALE! What you want/need is available for a fraction of the price. If you want good trading power, then buy good trading power, BUT be careful, because your floating winter week could be the second week in January as far trade power goes.
Remember a floating week means only you can go back to your home resort any week BUT when you trade you are given a trade week and it may not be a good trading week.

I own week #32 in Vistana resort, although I will probably never have enough trade power for Hawaii or the California coast, I have been able to trade for Spring break weeks and summer weeks in other places where we wanted to go. Bottom line...Buy where you want to go!
I think Marriott has a good product, but when you buy points resale I think you are excluded from a "club" of some sort.
Check out the Marriott points board.

 

[Rent_Share]

Two words


Rent First


You can rent for around the same as the annual maintenance fees, sometimes less when you add in exchange fees and memberships



Then continue your search

 

[Mjasp]

Two words


Rent First


You can rent for around the same as the annual maintenance fees, sometimes less when you add in exchange fees and memberships



Then continue your search

But like someone else mentioned, how do you know who is honest when it comes to renting, unless you rent directly from the hotel and then it is much more than MF's

 

[YakMan]

Thanks everyone for the great feedback. We were always considering a resale unit. I like the idea of renting, will look into that.

Can one really get into a strong trading situation for $3-5k?

Thanks again!

 

[Bill4728]

Thanks everyone for the great feedback. We were always considering a resale unit. I like the idea of renting, will look into that.

Can one really get into a strong trading situation for $3-5k?

Thanks again!

Worldmark is a great trader and you can buy 7000 pts for about $5000 ( maybe less)

 

[geekette]

Yes, you can do this far less expensively than you planned.

Definitely rent. I believe that right now, renting is better than owning for most people anyway - there are some unbelievable bargains right now as so many people are banged up on fuel prices for driving/flying.

Definitely look into the various point systems to see which will have the flexibility you require, and hopefully resorts in the locations you most want to go to in order to avoid exchanges. Find out specifics about how a week is deposited for trade - do you pick the week/season/unit or is something selected for you? Determine whether you can use any exchange fee or if you'd be locked into to using only one.

Good luck and please take your time. Education takes time, and you want to come out with what will fit your family and goals the best.

 

[pointsjunkie]

But like someone else mentioned, how do you know who is honest when it comes to renting, unless you rent directly from the hotel and then it is much more than MF's

i rent all the time. i use an inexpensive escrow company and have had many people very happy.

 

[bnoble]

Can one really get into a strong trading situation for $3-5k?

Yes. I have a week that sees everything posted to the RCI Sightings board (including Manhattan Club) and almost everything not under Marriott or Starwood preference in II (including DVC).

I paid $275 for it.

But, that wasn't my first purchase, and at the time I had spent a lot of time reading and learning about the market.

Be careful about buying to trade though. The rules of trade power are constantly shifting, as is the available inventory. What is today's tiger trader could well be tomorrow's dog. For a first timeshare purchase, I would think more about buying to use rather than buying to trade. As others have suggested, a mini-system (Wyndahm, Bluegreen, WorldMark, etc.) may fit your needs well, without ever having to rely on the vagaries of exchange.

 

[kzewill]

more for less

Keeping in mind that we are looking to maximize trading power, spend under $20k (prefer $10k -$15k), what advice can you give this rookie.

The advice about renting first is spot on. Up through last vacation season we rented, and found both great advice and excellent vacation rentals and locations from others here at TUG. With 3 kids in tow, and a goal to have a couple of weeks of fun (at places we haven't all seen before), we needed big comfortable units with plenty of activities nearby. Last season we visited Williamsburg (Manor Club) and Alexandria (Wyndham).

With several years of experience renting and a good number of hours studying these boards, the decision to pull the trigger on buying was much easier. Our goal was to spend less in annual maintenance fees than we did renting the previous season (for at least the same number of weeks, and the same size and quality). That turned out to be easy...so long as we stayed far away from the retail sales presentations.

In a nutshell, rent first and get to know some locations and resort operators that you might eventually be interested in. Then buy resale. You are likely to end up with far more than what you expected for a $3 - 5K total outlay.

 

[anneww]

You'll get great advice from TUG! We purchased our first timeshare last year, but I've been a member of TUG for years. We rented many timeshares, and I read a ton of advice on the boards here before we made our first offer. We own a fixed week at The Charter Club of Marco Beach, and we are so happy with our purchase. Rent, Read and buy Resale, but don't rush. You'll be much happier with the end result. Good Luck!!!

 

[theo]

Buying to exchange is a crap shoot...

Our main objective is going to be to trade our yet to be purchased unit and travel to places with beaches; coastal US, maybe Hawaii again, Mexico, Caribbean.

Just my personal opinion, of course, but I believe that "buying primarily to exchange" is both risky and fraught with uncertainty --- and becoming increasingly so. Exchange company policies, deposit valuations and exchange fees will continue to change, as well as their appetite preference for "direct rentals" over member exchanges. In some of the prime locations which you identify, the least valuable thing an owner can possibly ever do with a prime week is "deposit it for exchange" (rental is often far more beneficial when the owned week can't be used by its owner).

In short, my recommendation is to either just rent or buy resale only where you would go, and available when you can and would want to go now. Exchanging (again, just my personal opinion) should be your LAST factor of consideration in a purchase --- not your first.

My $0.02 worth, to accept or ignore as you may se fit.

 

[ctyatty]

Grand Timber Lodge - great place to visit

Grand Timber Lodge is fantastic, but to buy it as a trader is not a great idea. With all the rentals available, I wouldn't buy anthing as a "trader" unless it is really inexpensive (like under $1000 with all fees) and has a low maintainence fee (under $450) AND is a place where I would go at least once in a while.

Another plus is if a resort does local exchanges for no or low fee. Some resorts have quit doing internal exchanges leaving you to the winds of RCI or II. Going from one prime week to another prime week used to be easy at a resort that I liked - I sold it a couple years ago because I didn't like the hassle when it quit doing internal exchanges.

 

[lprstn]

You may want to look at some of the points systems...

My general rule is to purchase a "weeks" ownership where you want to go at least 25% or more of the time, otherwise trading is to unreliable, even with good traders. Purchase points for flexibility and in most cases less hassle in booking. Some good points programs are Wyndam, BlueGreen, Worldmark, RCI points, HVGC, Hilton, Starwood....

Go to the points websites and see how many/location of their internal points resorts. Lots of those programs allow you to bank a week for trading also, so you really have the best of both worlds as far as flexibility goes.

With what you are trying to spend (under 15K) I would purchase a week, at a ski resort I would want to go to every year, during a time when most people would also want to go, so I can rent/sell it with more ease. Then I would purchase a points program (They tend to be somewhat cheaper) that will give me added flex in my traveling. Just make sure you purchase enouph points in whichever points program you prefer that will allow you to stay within the internal resorts in that program.

and keep reading....

 

[yumdrey]

Worldmark can be exchanged through both RCI and II, and has great trading power. But I have to agree that buy where you visit most likely, most of the time. And think about exchange secondarily.

 

[MOXJO7282]

Thanks everyone for the great feedback. We were always considering a resale unit. I like the idea of renting, will look into that.

Can one really get into a strong trading situation for $3-5k?

Thanks again!

It really depends on what your expectations are. Those that spend the lower amounts have a different definition of luxury than my family does. Please don't take that as a slight on anyone, but there is definitely a difference and it depends on what you want.

I would say you need to spend more if you are expecting a luxury resort, during prime time, not in one of the over-developed areas. Don't expect Marriotts or Westin for that low entry point. Don't expect Maui or a Marriott-level in CA. If you like the smaller resorts, shoulder season, or places like Mexico, Orlando, Kauai and other similarly well populated TS areas, then you can indeed spend minimal to expereince that level of vacationing.

Regards.
Joe

 

[funtime]

Was your first car a Cadillac?

If this is your first timeshare you might want to think volkswagon rather than cadillac. Check ebay and then get a fixed summer week at an II tradable resort and plan on spending about 2,000 or less for a non Marriott. Use it for a few years and learn about trades etc. My summer one bedroom Sandstone Creek in Vail (purchased for less than $500) trades pretty good and my late August week got a AC this year. I already used my unit this year to trade for a June 20th Westin 2 bed in the Palm Springs area. Once you get the hang of things you can then "upgrade" to a Marriott or Hyatt or Hilton and either keep your first timeshare, rent it each year or sell it for about what you paid for it. It is the safest way to get into timesharing without losing any money and you will learn a lot by doing. Right now on ebay there are weeks at Falcon Point and Sheraton in Avon Colorado that are worth considering. However, I would stay away from the Colorado Marriotts due to the expense of the maintenance fees and a whole host of other reasons. On the other end, although there are a lot of great deals on The Christie in Avon, I would stay away from those as well as the trading power will be less.
Or, look into buying a Marriott in the Palm Desert area (there are three of them) for a little more money. Check all of this on ebay.
In short, instead of trying to achieve all of your timeshare goals at once and spending a lot of money to do it, start smaller and work your way into what you want when you have more experience. Funtime
PS - for those that do not believe that the Colorado summer resorts are good traders, just think how hot it is in other parts of the country right now. Colorado breezes make these resorts attractive to exchangers.

 

[eal]

I concur with the trading power of Colorado summer weeks. My 1-br Poste Montagne week 30 in Beaver Creek, that has no kitchen, gets me trades into pretty well anything with II.

 

[Mjasp]

WOW! Is Colorado a big summer vacation place? What part of Colorado?

I always think of Colorado as a ski/winter resort place, and that there is not much to do there in the summer.

Enlighten me please.

 

[x3 skier]

WOW! Is Colorado a big summer vacation place? What part of Colorado?

I always think of Colorado as a ski/winter resort place, and that there is not much to do there in the summer.

Enlighten me please.

There is a saying in Steamboat Springs "You come for the winter but stay for the summer." The weather is great, highs 70-80 and low 50, no humidity and BLUE skies.

If you like hunting, hiking, mountain biking, camping or any outdoor sport, summer in the mountains can be the best time of year. Just avoid the "Mud Season" in the Spring and Fall although seeing the aspens change color in the fall is beautiful.

Cheers