"Should" I buy, or "What" should I buy?

[jserra]

1) Where do you want your home resort to be? I'm thinking Florida or 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? Probably visit at least 1/2 the time and trade

3) What are your 5 top trade destinations? Mexico, Hawaii (never been), Caribbean, Cruise, Sedona

4) How many people do you usually travel with? between 4 and 8 usually

5) Can you travel any time, or are you locked into the school schedule? locked into school schedule for the next 4 years and then anytime.

6) Can you make firm plans 12 or more mos. in advance? yes

7) Can you vacation for a full week at a time? sometimes yes, but not always

8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 3++

9) How much can you afford to spend upfront, without financing? I'd be looking for a bargain, maybe 3K tops.

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? $1,200

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

 

[DeniseM]

1) Where do you want your home resort to be? I'm thinking Florida or 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? Probably visit at least 1/2 the time and trade

Florida and Las Vegas are way overbuilt with timeshares, which means there is more supply than demand, which means they are not good traders. So, if you want to trade at least half the time, a better strategy is to buy a strong trader in one of the other areas you want to visit, and then use them to trade into Florida or Las Vegas.

3) What are your 5 top trade destinations? Mexico, Hawaii (never been), Caribbean, Cruise, Sedona

Mexico, along with Florida and Las Vegas are very easy trades. Hawaii and the Caribbean require strong traders. Trading for a cruise is expensive - you have to pay a lot of $$$ in addition to trading your week.

4) How many people do you usually travel with? between 4 and 8 usually

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? $1,200

You need [at least] a 2 bedroom for 4-8 people, and a $1,200 maintenance fee may not be enough.

 

[Passepartout]

I really don't like this questionnaire thing. Well, no, what I don't like is the unrealistic expectations people have about what they can expect from timeshares. Like do you really vacation with 4 or 8? For 4 people, a 2 br unit works. If there really are 8, it would take a minimum of 3 bedrooms and still have people sleeping on hide-a-beds or floors. That's not what I call 3++ star accommodations. And, the number of 3 br units is tiny compared to one bedrooms and studios. If you are tied to school schedule too, those big units are almost impossible to book. Other people with fixed weeks and/or high rollers with a bazillion points & priority will get them first.

Unless you get deeper pockets, fewer people, more flexible schedule, or damn lucky, you will be disappointed. Stick with rental hotels, airbnb's, at drive-to locations until you get less people, more flexibility, and have done lots of research on TS. I see you just joined TUG today, so you can use all the site including reviews and sightings and last minute rentals. Use them and learn.

Welcome!

Jim

 

[jserra]

Florida and Las Vegas are way overbuilt with timeshares, which means there is more supply than demand, which means they are not good traders. So, if you want to trade at least half the time, a better strategy is to buy a strong trader in one of the other areas you want to visit, and then use them to trade into Florida or Las Vegas. - I was in Florida at the beginnig of June looking at buying a townhouse for short term rental, and I noticed the townhouses are on the market there for sometimes a year or longer, so I did get the idea that there is an abundance of inventory and that would make it difficult to sell.



Mexico, along with Florida and Las Vegas are very easy trades. Hawaii and the Caribbean require strong traders. Trading for a cruise is expensive - you have to pay a lot of $$$ in addition to trading your week. - Thank you, that's good to know.



You need [at least] a 2 bedroom for 4-8 people, and a $1,200 maintenance fee may not be enough.

 

[jserra]

I really don't like this questionnaire thing. Well, no, what I don't like is the unrealistic expectations people have about what they can expect from timeshares. Like do you really vacation with 4 or 8? For 4 people, a 2 br unit works. If there really are 8, it would take a minimum of 3 bedrooms and still have people sleeping on hide-a-beds or floors. That's not what I call 3++ star accommodations. And, the number of 3 br units is tiny compared to one bedrooms and studios. If you are tied to school schedule too, those big units are almost impossible to book. Other people with fixed weeks and/or high rollers with a bazillion points & priority will get them first.

Unless you get deeper pockets, fewer people, more flexible schedule, or damn lucky, you will be disappointed. Stick with rental hotels, airbnb's, at drive-to locations until you get less people, more flexibility, and have done lots of research on TS. I see you just joined TUG today, so you can use all the site including reviews and sightings and last minute rentals. Use them and learn.

Welcome!

Jim

Thank you Jim - I had a little trouble filling out the questionnaire, since I am really just starting to do some research on the timeshare market to determine if it's even a good idea for me right now. We travel with my sister and her family sometimes, so my thought process was 8 people would accommodate both families, but really at this time, I'm just trying to take in the vast amount of information about this whole subject. Thanks again!

 

[DeniseM]

jserra - To get started, I would just focus on the travel needs of your family, and then if you really enjoy timesharing, you could consider a 2nd purchase to invite extended family.

I was in Florida at the beginnig of June looking at buying a townhouse for short term rental, and I noticed the townhouses are on the market there for sometimes a year or longer, so I did get the idea that there is an abundance of inventory and that would make it difficult to sell.

It's not just that a timeshare in Florida would be difficult to re-sale (chances are you would actually have to give it away.) The real issue is that because of more supply than demand, FL timeshares have weaker TRADING value, and since you want to trade half the time, you want your home resort to be a strong trader.