Should I accept the gift of two Wyndham properties?

[presley]

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?

You are correct in that it may be cheaper to rent off season and you will pay top dollar for high season. There is a last minute board here that has timeshare rentals for a $100/night or less, but the catch is they are last minute and they have set dates. My husband and I have actually discussed just planning a week of vacation and then waiting to see where we were going based on what comes open for cheap last minute. We have other sources besides here. I wouldn't plan on that just basing on what is posted here.

Can you just take one contract?

 

[Ty1on]

Depositing points in RCI is a reservation, your only pay a RT fee if you've already used your free RT(s).

 

[Joe33426]

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?

That's the conundrum of the timeshare world.... The demand for peak weeks is much higher than the available inventory. This demand creates the ability of owners to rent their units for more than the maintenance fees in many instances. This lopsided demand also opens up a lot of inventory in the off seasons, which is a good thing if you're able to travel off season.

Advice for peak or near-peak reservations is to own where you want to go...

 

[uscav8r]

$1900 for 308k is a much more reasonable $6.16/1000 points, which sounds like these could be Club Wyndham Access (CWA) points.

Can you elaborate on whether these are CWA or deeded to specific resorts?

The credit pool can be your friend, especially if you have inconsistent vacation time from year to year.

My recommendation is to rent the off-season stays and use the timeshare for the high demand stuff that is more expensive if rented.


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[ecwinch]

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?

I would say well over half of our reservations are made within 30 days. Obviously it is harder to do in prime season, but you'd be surprised what pops up at the last minute. You just have to be flexible and persistent, as inventory changes all the time. You need to say "where can I go" instead of "I only want to go here".

 

[jhoug]

So if it is from a family member, is it an immediate family member? And if well-worn, does that mean the 308,000 were purchased long enough ago to have Silver VIP benefits?
If both answers are yes, then the benefits would transfer to the OP wouldn't they?

 

[WorkLifeBalance]

You are correct in that it may be cheaper to rent off season and you will pay top dollar for high season. There is a last minute board here that has timeshare rentals for a $100/night or less, but the catch is they are last minute and they have set dates. My husband and I have actually discussed just planning a week of vacation and then waiting to see where we were going based on what comes open for cheap last minute. We have other sources besides here. I wouldn't plan on that just basing on what is posted here.

Can you just take one contract?

Bingo, presley. I am thinking that just one contract is the way to go. It would be @150K points at $80/month mf (@$960/year). I understand that this should give me one week of vacation per year at many good locations even occasionally at peak season. Does that sound like a realistic expectation?

That's a great idea about last minute bookings. I didn't know about that.

 

[uscav8r]

Bingo, presley. I am thinking that just one contract is the way to go. It would be @150K points at $80/month mf (@$960/year). I understand that this should give me one week of vacation per year at many good locations even occasionally at peak season. Does that sound like a realistic expectation?

That's a great idea about last minute bookings. I didn't know about that.

Fair warning: you don't have much choice of resorts if you use the LMR section. You will be subject to the whims of availability. While you can find the occasional nugget, many of these offerings are often of less desirable times/locations/proximities, so you will constantly have to sift through the chaff and compromise on your vacation timing.

In any case, if this is 150k, then the other contract must be 158k. The difference matters. A lot.

If you are looking for 1BR units, you may be fine for High and many (not all) Prime weeks. But if you want 2BR, there is no way 150k gets you a Prime week. The entry level is 154k for a Prime 2BR and even those are becoming a smaller and smaller proportion of options as the system expands. I often recommend a minimum of 231k points to a prospective owner who wants to stay in 2BRs. This is also more cost efficient in terms of the minimum program fee.

But if you will choose between the two contracts offered, take the bigger one (assuming the MF rate per point is similar).

You have not answered jhoug's question on if this is a transfer from an immediate family member and if the current owner has VIP status. Those are also important considerations on whether to take 0, 1, or 2 contracts.


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[paxsarah]

I would be surprised if it wasn't two contracts at 154k each. I know my natural instinct is to round off numbers, and if someone hasn't been steeped in the intricacies of Wyndham points like we have, the difference between 150k and 154k wouldn't sound like much.

 

[WorkLifeBalance]

Fair warning: you don't have much choice of resorts if you use the LMR section. You will be subject to the whims of availability. While you can find the occasional nugget, many of these offerings are often of less desirable times/locations/proximities, so you will constantly have to sift through the chaff and compromise on your vacation timing.

In any case, if this is 150k, then the other contract must be 158k. The difference matters. A lot.

If you are looking for 1BR units, you may be fine for High and many (not all) Prime weeks. But if you want 2BR, there is no way 150k gets you a Prime week. The entry level is 154k for a Prime 2BR and even those are becoming a smaller and smaller proportion of options as the system expands. I often recommend a minimum of 231k points to a prospective owner who wants to stay in 2BRs. This is also more cost efficient in terms of the minimum program fee.

But if you will choose between the two contracts offered, take the bigger one (assuming the MF rate per point is similar).

You have not answered jhoug's question on if this is a transfer from an immediate family member and if the current owner has VIP status. Those are also important considerations on whether to take 0, 1, or 2 contracts.


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@paxsarah is correct, they're both 154K points.

I can't see the Silver VIP status in the online account profile but I'm pretty certain it's there as I've heard it discussed as a reason not to split these up. Nor do I know the location of the properties yet. I should be receiving a packet soon and then will call Wyndham with any unanswered questions. Transfer is from an immediate family member.

What is LMR?

 

[ecwinch]

That it would include Silver VIP status does change the equation significantly. Take both of them, learn the system and then decide. VIP status entitles you to booking discounts that will potentially enable you to get a lot more value out of the system.

 

[ronparise]

Silver is ok with 25% discounts and unlimited housekeeping. And 5 guest confirms. But you don't get unlimited transaction credits

 

[Braindead]

@paxsarah is correct, they're both 154K points.

I can't see the Silver VIP status in the online account profile ?

It shows up at top right corner under owners name. Will show Plus ,Silver,Gold or Platinum level membership

 

[uscav8r]

What is LMR?

Last Minute Rentals. It is the TUG forum ecwinch referenced.



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[Cheryl20772]

We own 308K points and are grandfathered Silver VIP. If you inherit this from family, you may be getting VIP points and should figure that into potential value. You can't buy resale VIP points, but can inherit and it depends on relationship.

 

[tito12121]

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

Im new here, Im looking for the best place to buy Wyndham points, where did you catch a deal like that. I am looking on eBay and it seems they are a lot more expensive but prices vary widely.

 

[vacationhopeful]

Look here in the "TUG marketplace" and on "bargain deals" thread. Stuff goes pretty fast as the people looking to move on price their ownerships to sell and buyers know, few here are not going to perform.

But first ... FIRST .. you need to read and learn before buying anything. Wyndham is not a simple, one thing program. UDI, Converted fixed weeks, deeded weeks, floating weeks, CWP, CWA, ARP, RAPR, Home resort, etc. You should know 90% of those terms before buying Wyndham.

And I HOPE other Wyndham TUG owners throw in their favorite terms ... the ones they know to book, use and improve their vacation experience.

 

[Passepartout]

Im new here, Im looking for the best place to buy Wyndham points, where did you catch a deal like that. I am looking on eBay and it seems they are a lot more expensive but prices vary widely.

What Linda said. Cool your jets. You just dodged a $14,000 bullet that was aimed straight at your wallet. Do yourself a favor, and read, read, read about any and every system that interests you. There IS NO 'best'. What may be the best system for you may suck for me, and vice versa. I LOVE my fixed week at Yellowstone, and my RCI Points resort in Arizona, but those would have ZERO value to you. You REALLY need to back off a little. There is NO HURRY. When you are ready, the right interval will be available. You might have to snipe it, or maybe even pay a little more than the lowest bid you ever heard of, but they are out there. Every day, people like me get older and quit traveling. People die and their kids have timeshares to sell or give away. But you have to educate yourself so you know what's good, and what's great, and when to pounce and when to let it go. Timeshares are a helluva lot easier to buy than they are to sell, so be sure you 'adopt' the right one(s).

Jim

 

[T-Dot-Traveller]

Dear WorklifeBalance,
Your first statement - I am an infrequent vacation taker & your TUG handle - lead me to believe you may see this as a way to improve your ":balance " by saying :
" I am paying for it / I should use it "

That worked for me and I am not the first on TUG to say so .

If the increase in vacation budget is something you can afford or can afford by adjusting something else , it makes sense to me to do this as an " investment " in
having a better life balance .

 

[Roger830]

Im new here, Im looking for the best place to buy Wyndham points, where did you catch a deal like that. I am looking on eBay and it seems they are a lot more expensive but prices vary widely.

I bought my four Wyndham contracts on ebay. One is a fixed week at $78.77 in Pompano not included.

I have two 168,000 Panama City contracts the are every-other-year, eoy, odd and even. The maintenance fees are paid over a 24 month period, so when they closed, 12 and 13 months fees were prepaid. I subtract the value of those fees from my purchase price to determine my out of pocket cost. In one case, it closed the last week of December with 12 months fees prepaid. I credit pooled the next year's points, so I had full use of them. My other contract closed in February 2016 with 13 months prepaid and I was able to book week 53 in south Florida last year. The purchase price in total was $603 + $389 = $992. Subtract $595 Mf = $397 cost.

My 105,000 National Harbor was $960. It closed in an October with an April use year change to January and the prior owner used the next years points which I was mailed a check for 14 months. I suspect that this use year change was also favorable to me.

So my cost is actually $1357, not the $1600 that I quickly estimated.

The value is in the eoy contracts with prepaid mf.

 

[cayman01]

If you like Wyndham and the timeshare experience I think you would be better off renting from an owner. There are lots of last minute deals available right here on TUG and other websites (Redweek.com) you could take advantage of. At $700/wk or less of cost and short term availability it looks to be right up your alley and more affordable. Then after a couple of years you look at buying again if you determined timeshare ownership is what you really want to do. If you can't plan far in advance Wyndham ownership loses a lot of its luster. You're not going to get Mardi Gras 6 weeks from the day, or Christmas in Disney, or spring break as an OWNER. Everything is gone by then, but you might find it as a rental.

 

[ronparise]

If you like Wyndham and the timeshare experience I think you would be better off renting from an owner. There are lots of last minute deals available right here on TUG and other websites (Redweek.com) you could take advantage of. At $700/wk or less of cost and short term availability it looks to be right up your alley and more affordable. Then after a couple of years you look at buying again if you determined timeshare ownership is what you really want to do. If you can't plan far in advance Wyndham ownership loses a lot of its luster. You're not going to get Mardi Gras 6 weeks from the day, or Christmas in Disney, or spring break as an OWNER. Everything is gone by then, but you might find it as a rental.

be aware a number of the mega renters are no longer in business, and speculation is that the new reservations system when it comes on board will make it difficult for Platinum owners to get the 50% discount. If Im right about what wyndham is trying to do, which is to control the rental market , Extra Holidays will be the only game in town. Im predicting that it wont be as easy to find bargain wyndham rentals, going forward.

There will still probably be small boutique rental companies specializing in one resort or another, and only doing "in season rentals" and special events. And by the way, at least for Mardi Gras, and at least for now, a renter needs to plan ahead too, Im already setting up rentals for next years Mardi Gras. and prices for what dosent rent in advance, will go up as we get closer to the event.


and for my second prediction; Wyndham is going to control the secondary market too. Already one ebay seller has told me that since wyndham has been advertising on Google, they have less and less Wyndham to sell. So if you think you might ever want to own wyndham timeshares, and if price is a concern, Id buy sooner rather than later.


heres the ad that came up when I googled "sell wyndham timeshares"

Call Wyndham First - About Timeshare Exit Options - clubwyndham.com‎
Adwww.clubwyndham.com/Scambusters/ExitOptions‎Get Out of your Timeshare

• Don't be Left Liable