Thinking about buying wyndham points

[Tlarimer]

I have been looking into buying Wyndham points as we like to stay at the wilderness at the smokies a few times each year. I can not seem to see the benefit of having the time share points vs renting points/ booking through someone from Tug. Calculating how many points it would take to stay for a week at the wilderness during the prime season the maintenance fees and everything it does not seem to add up to save us any money. Am I missing some kind of discounts or reward points etc. that can be combined with wyndham points?

 

[dgalati]

I have been looking into buying Wyndham points as we like to stay at the wilderness at the smokies a few times each year. I can not seem to see the benefit of having the time share points vs renting points/ booking through someone from Tug. Calculating how many points it would take to stay for a week at the wilderness during the prime season the maintenance fees and everything it does not seem to add up to save us any money. Am I missing some kind of discounts or reward points etc. that can be combined with wyndham points?

@Fredflintstone may have some insight to offer on this question. I was a owner and sold all my deeds after I found it is much cheaper to rent vs owning. Not being burdened with yearly increases in maintenance fees and being tied to only one club is also a plus for me. I only need a one bedroom, travel on short notice and never book more then 60 days out. If you need a certain week and a certain room size during a high demand time you may find it more costly to rent.

 

[Tlarimer]

@Fredflintstone may have some insight to offer on this question. I was a owner and sold all my deeds after I found it is much cheaper to rent vs owning. Not being burdened with yearly increases in maintenance fees and being tied to only one club is also a plus for me. I only need a one bedroom, travel on short notice and never book more then 60 days out. If you need a certain week and a certain room size during a high demand time you may find it more costly to rent.

My wife and I are both teachers so we are locked into the school schedule. We like to take weekend trips to the wilderness at the smokies during the year and during our breaks but not necessarily a week the same week every year. We would be interested in a beach week every year during summer prime season though. The more I research and look on here it seems the best route for us may be to look for a timeshare week at a beach that we prefer and rent points for the smokies when we want to go. I just wasn't sure if there is a secret to the madness with wyndham when you book or if it would be beneficial to have points through them for a beach trip that we could also use at the wilderness.

 

[HDiaz1]

I have been looking into buying Wyndham points as we like to stay at the wilderness at the smokies a few times each year. I can not seem to see the benefit of having the time share points vs renting points/ booking through someone from Tug. Calculating how many points it would take to stay for a week at the wilderness during the prime season the maintenance fees and everything it does not seem to add up to save us any money. Am I missing some kind of discounts or reward points etc. that can be combined with wyndham points?

I believe the maintenance fees at the great smokies lodge are around $4.9/1000 + $.62 program fee you’re looking at fees at around $5.5/1000
1 week during high season is 154,000 @ $5.5/1000 = $847 for a week.
a standard room (1 king or 2 queen) during high season runs for a little over $1,500 for a week after taxes or fees. posible savings of over $650

You can also rent from owners but expect to pay around $7 or $8/1000 for a regular reservation or you can risk it and try to get a cheap reservation from a VIP during the discount window.

In my opinion it comes down to preference. Renting would still save you money vs booking direct. Owning has its perks but also inconveniences as stated above.

I prefer to own because I like to be in control. We also always travel during major holidays so it’s almost impossible to get a cheap reservation from a VIP. If you travel a lot during the off season or are very flexible with your travel dates, then I recommend you to rent instead.

 

[cbyrne1174]

If you calculate it using CWA maintenance fees, I can see it costing you more to own vs. rent. Maybe use the covid crisis to score a cheaper contract? I'm a teacher too so I need to own because the best weeks for my schedule book 10 months out.

To be honest I don't understand why you own CWA as 2 teachers. Does your state actually pay teachers decently? I can only afford low MF resorts on my income. I would have to rely on my husbands income for anything else.

 

[T-Dot-Traveller]

I have been looking into buying Wyndham points ......everything it does not seem to add up to save us any money. Am I missing some kind of discounts or reward points etc. that can be combined with wyndham points?

1 ) what is your timelines - ( ie ) are you 35 years old or 60 years old .

2 ) read TUG to learn the low MF points within Wyndham . example - Canterbury - San Francisco .
If due to current uncertainty - IF you could get a Canterbury or similar contract for well below the normal resale cost ,it could make sense to purchase , if your future travel window is 10- 40 years .

3 ) Delgati , HDiaz1, cbyrne1174 - have given you a range of information .
Other may add further perspectives .

Ultimately you have to decide what you are most comfortably doing .

 

[dgalati]

1 ) what is your timelines - ( ie ) are you 35 years old or 60 years old .

2 ) read TUG to learn the low MF points within Wyndham . example - Canterbury - San Francisco .
If due to current uncertainty - IF you could get a Canterbury or similar contract for well below the normal resale cost ,it could make sense to purchase , if your future travel window is 10- 40 years .

3 ) Delgati , HDiaz1, cbyrne1174 - have given you a range of information .
Other may add further perspectives .

Ultimately you have to decide what you are most comfortably doing .

I agree. Learn the system and make it work for your situation.

 

[Fredflintstone]

My wife and I are both teachers so we are locked into the school schedule. We like to take weekend trips to the wilderness at the smokies during the year and during our breaks but not necessarily a week the same week every year. We would be interested in a beach week every year during summer prime season though. The more I research and look on here it seems the best route for us may be to look for a timeshare week at a beach that we prefer and rent points for the smokies when we want to go. I just wasn't sure if there is a secret to the madness with wyndham when you book or if it would be beneficial to have points through them for a beach trip that we could also use at the wilderness.

Personally, renting works better in all seasons. Here’s why:
1. Cash is King. This is especially true now during Covid and uncertainty over travel. A renter can cancel easily. An owner still is stuck with MF.
2. All points are currency designed by the developer. They always make it work for them in terms of getting the real currency; that being...your money. They make the trading rules and when you look at the contract you must sign before ownership, you will see the terms are all in their favour. With renting, I can shop around, say no, say yes and thus have the advantage of using the competitive rental market to my advantage. I am not beholding to a resort, HOA, developer, membership club or exchange club.
3. I buy WYND shares because as an investor I love the fact they have locked in owners forced to make payments year in and year out. Yes, I have been buying in the dips lately and feel good knowing they have 875,000 payers ready to make their MF and other yearly dues. I use the dividends they pay ME to vacation.
4. Because renting has competition, I have never had trouble renting a place at my chosen time, chosen price and chosen location. From my experience, the same cannot be true with using points and trading systems. Many times, I am left choosing other locations because the system says it’s not available. Funny though, if I have cash and don’t want to use points, the units are available. I could never figure that one out.
5. Timeshares are hard to unload. Renting is easy to unload...just cancel the reservation.
6. If you buy retail, you are nuts. Invest 20 k plus and you will reap at least 1 k a year to vacation and still have your capital. Buy retail, get ready for MF, membership dues, exchange fees, special assessments, etc. With resale, you save a ton but still have multiple bills as listed above.
7. With renting, the money remains in the bank until I actually want to vacation. No need to worry about expiring points, upcoming MF bills due right after Christmas, stupid owner updates where the resort tries to tell you you bought poorly and in need of an upgrade, etc.

I think @dgalati rents as well for similar reasons. He may be able to add to the points I have made.

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[Tlarimer]

If you calculate it using CWA maintenance fees, I can see it costing you more to own vs. rent. Maybe use the covid crisis to score a cheaper contract? I'm a teacher too so I need to own because the best weeks for my schedule book 10 months out.

To be honest I don't understand why you own CWA as 2 teachers. Does your state actually pay teachers decently? I can only afford low MF resorts on my income. I would have to rely on my husbands income for anything else.

We don't own anything at the moment. I almost got trapped into a contract after going to a presentation but luckily found this site and rescinded it.

 

[dgalati]

We don't own anything at the moment. I almost got trapped into a contract after going to a presentation but luckily found this site and rescinded it.

@Grammarhero would be interested to know how much was saved by rescinding.

 

[Tlarimer]

1 ) what is your timelines - ( ie ) are you 35 years old or 60 years old .

2 ) read TUG to learn the low MF points within Wyndham . example - Canterbury - San Francisco .
If due to current uncertainty - IF you could get a Canterbury or similar contract for well below the normal resale cost ,it could make sense to purchase , if your future travel window is 10- 40 years .

3 ) Delgati , HDiaz1, cbyrne1174 - have given you a range of information .
Other may add further perspectives .

Ultimately you have to decide what you are most comfortably doing .

@Grammarhero would be interested to know how much was saved by rescinding.

Cant remember exactly how much it was for but I think it was around 50,000 for the contract. Way too much for 2 measly teacher salaries in VA.

 

[T-Dot-Traveller]

We don't own anything at the moment. I almost got trapped into a contract after going to a presentation but luckily found this site and rescinded it.

Glad you found TUG .
The best place to read and learn / and find out options .

 

[Tlarimer]

Thanks for all your suggestions and info. It's really helped me see what to consider when thinking about buying or just continue to rent. At this point I think renting is probably best for us. So glad I found the great user's at tubs.

 

[bbodb1]

My wife and I are both teachers so we are locked into the school schedule. We like to take weekend trips to the wilderness at the smokies during the year and during our breaks but not necessarily a week the same week every year. We would be interested in a beach week every year during summer prime season though. The more I research and look on here it seems the best route for us may be to look for a timeshare week at a beach that we prefer and rent points for the smokies when we want to go. I just wasn't sure if there is a secret to the madness with wyndham when you book or if it would be beneficial to have points through them for a beach trip that we could also use at the wilderness.

@Tlarimer - one question that popped into my head is can you be happy with the Wyndham locations?
There are a good number of them in the eastern US but do those work for your vacation needs?

 

[dgalati]

Cant remember exactly how much it was for but I think it was around 50,000 for the contract. Way too much for 2 measly teacher salaries in VA.

The developer price works for many here. If you buy up to VIP and can travel enough there is a payback or break even over time. If VIP is what you desire.@Richelle can help you get to VIP with a PIC purchase at a much lower cost then $50,000

 

[Fredflintstone]

Cant remember exactly how much it was for but I think it was around 50,000 for the contract. Way too much for 2 measly teacher salaries in VA.

Wow. 50 k...

That’s a lot of rentals! If you invest 50 k, you will get conservatively 2.5 k each year to travel with and still have your 50 k. With TS, you lose 90 percent plus the minute you sign on the dotted line.

Good for you rescinding.


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[dgalati]

Wow. 50 k...

That’s a lot of rentals! If you invest 50 k, you will get conservatively 2.5 k each year to travel with and still have your 50 k. With TS, you lose 90 percent plus the minute you sign on the dotted line.

Good for you rescinding.


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Losing only 90٪ is a best case senerio.

 

[Tlarimer]

@Tlarimer - one question that popped into my head is can you be happy with the Wyndham locations?
There are a good number of them in the eastern US but do those work for your vacation needs?

Yeah most would. We live close to sevierville and frequently go to the wilderness resort. And myrtle beach is usually our beach destination. Other than that not a big deal for us.

 

[harveyhaddixfan]

If you’re looking to buy, there’s a 382k contract at Panama City Beach on eBay right now. MF are listed at $162 a month. That’s just over $5 per thousand.

I have an EOY at Bali Hai and an EOY at Grand Desert. My average is about $5.15 per thousand right now. I mainly bought to go to Old Town Alexandria. Prime season, I can get a 1BR for about $90 a night. Probably can’t touch the Hilton next door for less than $150.

 

[bbodb1]

@Tlarimer - just a suggestion here but in the current marketplace you should be able to pick up a Wyndham contract for very little.

Like you, we are tied to the school schedule as well but there are advantages to that from the perspective of knowing the calendar a year in advance. (I am assuming your district sets their calendar a year in advance like ours does).

You should know your long weekends and breaks in advance enough to pick up some stays that are drivable. To me, the advantage of owning within the Wyndham system and being able to reserve dates as soon as booking windows open is worth something.

Might I suggest keeping an eye on the resale market for Wyndham here (TUG), eBay, and other sources for a bit? If you could pick up enough points to equal a week and a long weekends worth of stays at the places you want to frequent, that might be worth considering because you would have more control over your vacation reservations.

To be clear, both @Fredflintstone and @dgalati make very solid points and I not suggesting their advice is lacking in any way, but as someone in a similar position as you are, ownership may be worth considering.

 

[bbodb1]

If you’re looking to buy, there’s a 382k contract at Panama City Beach on eBay right now. MF are listed at $162 a month. That’s just over $5 per thousand.

I have an EOY at Bali Hai and an EOY at Grand Desert. My average is about $5.15 per thousand right now. I mainly bought to go to Old Town Alexandria. Prime season, I can get a 1BR for about $90 a night. Probably can’t touch the Hilton next door for less than $150.

@Tlarimer - you could do a LOT of vacationing with 382k points each year.

 

[Grammarhero]

Thanks for all your suggestions and info. It's really helped me see what to consider when thinking about buying or just continue to rent. At this point I think renting is probably best for us. So glad I found the great user's at tubs.

You can buy for $1.

 

[Tlarimer]

That's a decent deal. I'll look into it and see.

 

[Tlarimer]

How does that work though. It's a co tract at Panama city beach but since its through wyndam I can use points for anywhere in wyndam resorts?

 

[Grammarhero]

That's a decent deal. I'll look into it and see.

I got 353k pts for $4.