Should I accept the gift of two Wyndham properties?

[WorkLifeBalance]

I'm an infrequent vacation-taker looking at the option of a pair of "free" Wyndham properties. A family member wishes to generously pass along to me their well-worn two properties totaling 308K points per year. I've stayed in a number of Wyndham/RCI properties and my experiences have always been great.

I'm excited about the prospect of owning the shares and only having to pay maintenance and booking fees. I'm concerned about the responsiveness and availability of Wyndham properties these days, as well as the overall cost and value. I hear that Wyndham and RCI are not what they used to be and I see people on hold for an hour finding out there is nothing available in any of the three cities they want to stay.

When I do the math for this gift it comes to around $1900 in maintenance fees for what appear to be sufficient points for 2 one week vacations per year. Add in other vacation expenses and it would bring my annual vacation budget to almost $4K plus flights. My current vacation budget is less than $2K per year and I take about one week vacation per year plus quite a few days of work-related travel. I would like to take more but cannot afford to stay in the places where I'm comfortable for more than a few days a year, such as hotel suites, cabins, boutique hotels, and nice resorts, which is why the timeshare seems like a good bet. It holds a promise of a considerable improvement in lodging options for a moderate increase in annual vacation expenses.

Should I accept the gift of these two Wyndham properties?

 

[ecwinch]

I have very little problem booking the vacations I want on-line when the 10 month booking window opens. In fact, I have been very surprised how frequently good options are still available even at the 4-6 month mark.

The only time I need to book over the phone is when I want to use my Advanced Reservation Priority (ARP) to book my home resort 10-13 months out.

300k pts will only allow you to book 2 weeks in prime season at legacy resorts if you need a 2BR. Newer resorts require more pts.

 

[vacationhopeful]

Is it really a 308,000 points? Are both deeded to the same property?

Most Wyndham properties use 77K, 154K, 231K, 308K, etc .. multiples of 77K.

 

[raygo123]

Can you take over just one of the two contracts? What is the size of both contracts?

Sent from my SM-J320P using Tapatalk

 

[sandkastle4966]

Is it really a 308,000 points? Are both deeded to the same property?

Most Wyndham properties use 77K, 154K, 231K, 308K, etc .. multiples of 77K.

My first two purchases totaled 300k exactly......depends when you were buying.

I also have a 49k (my fixed week conversions would be 126)

 

[Roger830]

$2,500 / 308,000 = $8.11 per 1000 points.
This is a very high maintenance fee and can only be justified if you have rights to book a high value unit-week at a resort that you wish to stay in peak season.

I have contracts at $4.60 per 1000 points at Panama City and National Harbor, about 57% of your cost.

 

[presley]

When I do the math for this gift it comes to around $2500/year in maintenance fees for what appear to be sufficient points for 2 one week vacations per year. Add in other vacation expenses and it would bring my annual vacation budget to almost $4K plus flights. My current vacation budget is less than $2K per year

The answer is no. You would be accepting a burden rather than a gift.

 

[ronparise]

$2,500 / 300,000 = $8.33 per 1000 points.
This is a very high maintenance fee and can only be justified if you have rights to book a high value unit-week at a resort that you wish to stay in peak season.

I have contracts at $4.60 per 1000 points at Panama City and National Harbor, about 55% of your cost.

those two contracts are very very low, and generally cant be had fo no money like the op.. I agree his will be high but you cant compare them to what you have

 

[WorkLifeBalance]

Is it really a 308,000 points? Are both deeded to the same property?

Most Wyndham properties use 77K, 154K, 231K, 308K, etc .. multiples of 77K.

It's 308K points. Nice catch.

 

[WorkLifeBalance]

The answer is no. You would be accepting a burden rather than a gift.

That's my concern exactly. Do you say that b/c of my current vacation spend?

 

[WorkLifeBalance]

I have very little problem booking the vacations I want on-line when the 10 month booking window opens. In fact, I have been very surprised how frequently good options are still available even at the 4-6 month mark.

The only time I need to book over the phone is when I want to use my Advanced Reservation Priority (ARP) to book my home resort 10-13 months out.

300k pts will only allow you to book 2 weeks in prime season at legacy resorts if you need a 2BR. Newer resorts require more pts.

That's helpful to know. What do you consider "short notice"? What if once in awhile I want to book one month out or less. Will that be possible?

 

[pedro47]

Please look at the yearly MF costs, the total number of points in the account and how many weeks you can travel using the total of numbers of points in both accounts? What is the costs per day for your vacation time. Step back an exhale and listen.. The Final Choice is your to make? Good luck.

 

[vacationhopeful]

My comment about it being 308K is due to Reservation Transactions are given to each 77K of points in an ownership. This ownership (who ever owns it .. direct buyer OR a resale buyer) would get 4 Reservations transaction each USE YEAR. 300K would get only 3 RTs.

Wyndham used to sell UDI points' contracts in these multiples ... and many resort stays use the same 77K multiples in many REQUIRED POINTS .. not always ... NOT every 7 night stay ... just some of the time.

 

[Roger830]

those two contracts are very very low, and generally cant be had fo no money like the op.. I agree his will be high but you cant compare them to what you have

I agree that Panama City and National Harbor are not as available as they once were, but there are others at much lower mf.

My mf for 308,000 is about $1400 vs $2500. That's $1100 per year that could be used to purchase contracts. My out-of-pocket cost for 273,000 points was about $1600, a pay back in 1 1/2 years

 

[elleny76]

We own 4 timeshares and We take vacations every 3 months. Airfare can be manageable if you sign up in airlines and book when they have sales. (We had fly to Orlando for $100RT per person)


Budgets are important!

I think the answer you are looking for is.."NO!" if your vacation budget is less than "$2k" per year" as per your comment about your expenses.

If your budget changes next year annually for $4k then the answer is ..maybe (why?. Because Maintenance fees goes up every year)


The answer is in your BUDGET. Good luck

I'm an infrequent vacation-taker looking at the option of a pair of "free" Wyndham properties. A family member wishes to generously pass along to me their well-worn two properties totaling 308K points per year. I've stayed in a number of Wyndham/RCI properties and my experiences have always been great.


When I do the math for this gift it comes to around $2500/year in maintenance fees for what appear to be sufficient points for 2 one week vacations per year. Add in other vacation expenses and it would bring my annual vacation budget to almost $4K plus flights. My current vacation budget is less than $2K per year and I take about one week vacation per year plus quite a few days of work-related travel.

Should I accept the gift of these two Wyndham properties?

 

[Joe33426]

That's helpful to know. What do you consider "short notice"? What if once in awhile I want to book one month out or less. Will that be possible?

Timeshares are definitely work better if you can plan ahead. As far as availability 1 month in advance, that probably won't work during peak demand times (e.g. summer, holidays, school breaks, etc.). Chances of getting something 1 month out is also better in high inventory areas (e.g. Orlando, Branson, Las Vegas, etc.). That being said, I just checked the inventory for 1 week in Orlando a month from now and I don't see anything at Bonnet Creek, Star Island, or Reunion. I changed to 3 or 4 days and still didn't see anything at Bonnet Creek. There is a 2-day reservation available mid-April at Bonnet Creek. If you want me to check availability 1 month from now at any resort, just let me know. I'd be happy to check.

Finally, are you really sure you want to increase your vacation budget from "less than $2,000" to "almost $4,000 plus flights". That seems like a very large increase in your vacation budget. You might considering renting timeshares rather than owning. Just because these are being offered to as a gift, doesn't mean you need to accept or should accept.

 

[ronparise]

I agree that Panama City and National Harbor are not as available as they once were, but there are others at much lower mf.

My mf for 308,000 is about $1400 vs $2500. That's $1100 per year that could be used to purchase contracts. My out-of-pocket cost for 273,000 points was about $1600, a pay back in 1 1/2 years

When I started with wyndham the advise was to try to stay under $5/1000. Today Id say 6 is the new 5

Heres the analysis I do before choosing one contract over another to buy. .. I amortize the purchase price over 5 years and add that number to the annual mf to get my annual cost per year and then I go for the cheaper one

so lets assume that there is a contract out there with a $6/1000 mf. and its selling for a penny a point . a 308k contract would cost $3000. Divide that by 5 years and I get $600. Mf is $6/1000 X308 gives me an annual mf of $1850 add the two numbers and get a annual expense of $2450
now compare that to the ops offer. of no cost to buy and mf of $2500 per year

The annual cost over the first 5 years is pretty much the same and the decision to buy or not to buy is a toss up


if however he can get a lower mf contract for less than a penny a point , the obvious choice would be that lower mf contract....if he had the money available to commit to the deal.

In my opinion the op shouldnt worry yet about whether this is the best deal he can get. His questions at this point are more basic. Is he able and willing to raise his annual vacation budget?. and given that he is not a long term planner, are timeshares right for him?

 

[presley]

That's my concern exactly. Do you say that b/c of my current vacation spend?

Yes, exactly. When you own timeshares, you have to pay for them no matter what comes up in the rest of your life vs. going on a less expensive vacation or just not going on a vacation. You can certainly not go on vacation, but you'll still be paying $2500.

It looks to me like you have a reasonable budget for vacations already. I wouldn't want to see you over extend yourself while limiting yourself to Wyndham timeshare vacations. While I do love my timeshare stays, I also love camping, cruising, staying in hotels, etc. Paying $2500./year for a timeshare limits the other types of vacations out there.

 

[WorkLifeBalance]

When I started with wyndham the advise was to try to stay under $5/1000. Today Id say 6 is the new 5

Heres the analysis I do before choosing one contract over another to buy. .. I amortize the purchase price over 5 years and add that number to the annual mf to get my annual cost per year and then I go for the cheaper one

so lets assume that there is a contract out there with a $6/1000 mf. and its selling for a penny a point . a 308k contract would cost $3000. Divide that by 5 years and I get $600. Mf is $6/1000 X308 gives me an annual mf of $1850 add the two numbers and get a annual expense of $2450
now compare that to the ops offer. of no cost to buy and mf of $2500 per year

The annual cost over the first 5 years is pretty much the same and the decision to buy or not to buy is a toss up


if however he can get a lower mf contract for less than a penny a point , the obvious choice would be that lower mf contract....if he had the money available to commit to the deal.

In my opinion the op shouldnt worry yet about whether this is the best deal he can get. His questions at this point are more basic. Is he able and willing to raise his annual vacation budget?. and given that he is not a long term planner, are timeshares right for him?

Thank you, this is helpful. The mf are actually $1900. I added $400/year for booking and another $200 for misc. fees, since I don't really understand all the fees involved yet.

 

[WorkLifeBalance]

$2,500 / 308,000 = $8.11 per 1000 points.
This is a very high maintenance fee and can only be justified if you have rights to book a high value unit-week at a resort that you wish to stay in peak season.

I have contracts at $4.60 per 1000 points at Panama City and National Harbor, about 57% of your cost.

Let me clarify. The mf are actually $1900. I added $400/year for booking and another $200 for misc. fees, since I don't really understand all the fees involved yet. Does that sound more reasonable?

 

[WorkLifeBalance]

Yes, exactly. When you own timeshares, you have to pay for them no matter what comes up in the rest of your life vs. going on a less expensive vacation or just not going on a vacation. You can certainly not go on vacation, but you'll still be paying $2500.

It looks to me like you have a reasonable budget for vacations already. I wouldn't want to see you over extend yourself while limiting yourself to Wyndham timeshare vacations. While I do love my timeshare stays, I also love camping, cruising, staying in hotels, etc. Paying $2500./year for a timeshare limits the other types of vacations out there.

This is terribly helpful. Thank you presley. I think the timeshares are good ones. The question boils down to annual vacation budget.
The mf are actually $1900. I added $400/year for booking and another $200 for misc. fees, since I don't really understand all the fees involved yet.

 

[WorkLifeBalance]

Timeshares are definitely work better if you can plan ahead. As far as availability 1 month in advance, that probably won't work during peak demand times (e.g. summer, holidays, school breaks, etc.). Chances of getting something 1 month out is also better in high inventory areas (e.g. Orlando, Branson, Las Vegas, etc.). That being said, I just checked the inventory for 1 week in Orlando a month from now and I don't see anything at Bonnet Creek, Star Island, or Reunion. I changed to 3 or 4 days and still didn't see anything at Bonnet Creek. There is a 2-day reservation available mid-April at Bonnet Creek. If you want me to check availability 1 month from now at any resort, just let me know. I'd be happy to check.

Finally, are you really sure you want to increase your vacation budget from "less than $2,000" to "almost $4,000 plus flights". That seems like a very large increase in your vacation budget. You might considering renting timeshares rather than owning. Just because these are being offered to as a gift, doesn't mean you need to accept or should accept.

Super helpful. I agree on the budget issue. Also, I prefer timeshare units to most hotels, so I've been looking at timeshare rentals, and they appear affordable off season. Peak and near-peak they can run $350-$500+/night which is out of my range. Any advice there?

 

[Ty1on]

Your points would also go further off season.....

 

[Richelle]

This is terribly helpful. Thank you presley. I think the timeshares are good ones. The question boils down to annual vacation budget.
The mf are actually $1900. I added $400/year for booking and another $200 for misc. fees, since I don't really understand all the fees involved yet.

I have not paid any booking fees. There are only a few fees that you might pay. One being credit pooling. It's $39 per contract. That is only if you want to credit pool. Credit pooling is not a requirement. Then there is guest certificates. That is if you will not be the one checking in, like when you sell or give away a reservation. The first one is free, the rest are either $99 or $129 depending on how you do it. I think there is a fee to deposit points in RCI, but again, not a requirement. I can call or go online and make a reservation without spending a dime. Even cancellations do not cost money in Wyndham.

There are resorts with lower maintenance fees, but you generally cannot get those for free or cheap. Especially the lowest like National Harbor or Canterbury.. Those could cost you thousands depending on the size of the contract. One thing RonPraise said to me is "either you pay now or you pay later". Meaning, you either pay thousands of dollars up front, to get low maintenance fees, or you get a timeshare for free or a $1, but you pay higher maintenance fees. Here is a few questions I may pose for you to think about. Life changes. If you have a contract with higher fees, it will be more difficult to make the payment, and much harder to get rid off if you decide to drop it. There is Ovation, but some contracts do not qualify, so you will be stuck paying $1,900 a year. The high MF might be why they are giving it away. Some of the less desirable locations with higher maintenance fees are next to impossible to get rid of. The next question is, if do you want to pay upfront to get cheaper maintenance fees, do you have the money to spare. Maybe you want to save up to buy a lower MF contract? If your circumstances change, you can have an easier time making the maintenance fees. Also, if you get a more desirable contract, you can dump it quick, and maybe cheap, if you get into financial trouble for some reason. Ovation would take back the more desirable locations for free. Finally, how long do you plan on keeping it? If you spend a couple grand for a lower MF contract, the ROI on the upfront costs may take a few years or more depending, on what you save in comparison to other resorts. If you plan on only keeping it for less then 5 years, there may not be much of a return on investment.

I have not had any problems with booking 9-10 months out for some of the more desirable locations. It depends on the total amount of inventory and the time period. So Bonnet Creek over Christmas will book up fast, but right now there are two bedrooms available for Christmas week. If you want Mardi Gras, the inventory is lower, so it's harder to get. Another thing to consider, is that you do not always have a to book a full week. Sometimes you can do long weekends. If it's a holiday weekend, you obviously want to book as far in advance if you can. However, for a regular weekend, you might be able to book last minute. Hope this helps.

 

[Richelle]

Only part of my post posted. I updated it.