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Thinking of Buying a Timeshare, but don't know where to start

wallyboag

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Location
Orange County, California
I'm a little overwhelmed with how many timeshares there are out there, but I really don't know where to start. Going to all the hotel chain club sites is so confusing and looks extremely expensive, and I don't understand where the value is. Timeshares seem like they could be a good deal, but then I look at the maintenance fees and they seem to be higher than what an equivalent hotel room would be. That doesn't make sense to me. Why pay upfront for a timeshare only to spend as much on maintenance fees as you would at a hotel? The sales tactics also seem to be extremely shady, and I don't feel like I can trust a timeshare salesperson.

I guess what I am saying is I am trying to find where a timeshare is a good deal. We are a small family (my wife, myself and our 4-year old daughter) and we don't plan on growing any bigger. We like to travel and have lots of places on our "bucket list." We get about three weeks vacation a year and wouldn't mind breaking that up into smaller chunks to go to more than three places in the year.

What should we do? Go to the club sites? Buy resale? Don't get a timeshare at all?

Thanks for any advice!
 
Welcome

Start by renting from an owner to make sure the experience is right

Continue reading and understand the need to both be a long range planner, while remaining flexible to take advantage of last minute availability to maximize your usage.

Once you understand one system you can compare the nuances of others.

If you need prime summer school vacation, you will have to:

Own {Buy Resale}
Pay Premium Rent
Be flexible enough to jump on someone's last minute cancellation, getting time off work an scheduling transportation

Since you live in the OC - I would recommend looking at Worldmark RESALE
 
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I would say read this forum for a while and do your research. TSs can make alot of sense, providing superior accomodations and lower rates. Each TS system is different and you must make it work for you. But in general, being flexible with your travel plans helps as well as being able to plan your trips 8-12 month (or longer) out.. Also, you must understand that generally MFs are going to increase at a rate considerably faster than inflation and be ok with that.
 
What should we do? Go to the club sites? Buy resale? Don't get a timeshare at all?

Buy resale. Or, don't buy a TS at all. You will save up to tens of thousands of dollars buying the exact same thing resale vs. buying directly from the developer.

Where do you want to go? Do you always need a full kitchen? Would you rather have daily maid service (hotel) or a small apartment where you clean up after yourself?

In some cases, you will find that it takes a lot of work to book a timeshare stay vs. a hotel stay. Hotel stays often involve booking online and not paying until you are there. Timeshares often require advanced booking and paying. If you cancel a hotel stay a week before, you usually get all your money back. If you cancel a timeshare stay a week before, you probably won't get any money back.
 
Welcome to Tug! You're in the right place to learn more than you'll ever think you'd want to know about timeshares, and the timesharing process.

Take things slow, and do your research. It is MUCH easier to get into one than to get out of one. Read all the sections about buying and selling a timeshare, until you feel you have a clear idea of what appeals to you. Visit them (but don't buy anything!!) to get more familiar with the different programs. As David suggested, rent a timeshare from an owner to get a feel for how it differs from renting a hotel room. Depending on where you're staying the differences can be enormous.

For example, hotel rooms tend to be one all-purpose room, have tiny microwaves and mini fridges, and little else. Timeshares tend to have separate bedrooms, multiple bathrooms, full kitchens and washer/dryer units right in the room. It's more like staying at an apartment, than a hotel. But that also means you aren't usually treated to daily maid service, trash removal, and someone to pick up after you. It's a trade off.

If you like feeling relaxed and "at home" when you travel, if you tend to stay put for a few days or a week at a time, even while seeing the local sites, and if you like the convenience of being able to cook for your family to enjoy meals in, then you'll begin to see the advantages of timesharing, vs. renting a hotel room.

Cost can be a factor. If you have a seriously limited budget, or don't stay more than a night or two at a time in one place, timesharing may be too expensive for you. Points programs let you schedule a few nights at a time, if you wish to break up your vacation into smaller pieces. But the associated costs may be something you'll want to be clear about, so you don't spend more than you need to.

No matter what you get, buy it resale! There is nothing worthwhile to justify spending thousands (or tens of thousands) to buy from a Developer. The savings can be monumental - a "second hand" ownership can be as low as $1 or less, compared with ten or twenty or thirty THOUSAND dollars if purchased "new." But when you stop to think of it, even that brand new timeshare will have been used by someone else before you get to use your time there. Avoid the depreciation, and buy it resale. It'll make your "per night cost" much, much lower.

Maintenance fees are a factor to be considered. You need to weigh the cost of the ownership against your intended use of it. If the maintenance fees are too high, and you can rent the same or better place for less, then it's not a good idea. But if the cost is average (or below average) and you have the option to stay at a place you like without paying too much, then it's probably a better deal, and worth looking in to.

Gone (mostly) are the days of the mysterious "tiger trader," where a cheapie timeshare in some obscure place will let you trade in to the top resorts elsewhere. They do still exist, but they are not too common. The general rule now is to buy where you like to stay, rather than exchanging through a third party company. Exchange fees drive up the cost of your vacation, so you need to weigh into what works best for you.

My recommendation would be to look into buying a points program of some sort, or one of the "mini systems" of internal exchange groups that own in several locations. So you'd trade within your own group. Only you can decide if it's worthwhile, and whether you think you'd get your money's worth.

In my own example, I like to vacation in Hawaii, so that's where I own. I have a week's stay every two years in a nice oceanfront unit in a pleasant resort. My costs are less than half of the price for a similar-but-less hotel located right next door, that shares the same beach as my resort. The math works well for me. But your situation may be different. I bought my unit resale, and spent less than $500 including closing costs for the whole thing.

Good luck in your research. Join Tug for $15, and learn what you can. It'll be the best vacation dollars you ever spent.

Dave
 
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I would say read this forum for a while and do your research. TSs can make alot of sense, providing superior accomodations and lower rates.

I will say I agree with this. The whole idea of getting a time share started when my boss booked me in his Hilton timeshare in Vegas for a convention I was going to and the digs were really nice. But then when I looked online to book the same hotel the price was lower than his annual maintenance fees!

Each TS system is different and you must make it work for you. But in general, being flexible with your travel plans helps as well as being able to plan your trips 8-12 month (or longer) out.. Also, you must understand that generally MFs are going to increase at a rate considerably faster than inflation and be ok with that.

I'm OK with flexibility (though I suppose that will get harder once my daughter is going to school) but am not OK with maintenance fees going higher than inflation, especially given the higher MF than room rate experience I mentioned above! Is this always the case, or are there timeshares out there with more reasonable MFs than Hilton?
 
Buy resale. Or, don't buy a TS at all. You will save up to tens of thousands of dollars buying the exact same thing resale vs. buying directly from the developer.

That seems to be what I'm finding from researching! How could anyone possibly buy straight from the companies at the prices they charge, espeically given the rock bottom resale prices?

Where do you want to go? Do you always need a full kitchen? Would you rather have daily maid service (hotel) or a small apartment where you clean up after yourself? [\quote]

We like visiting major cities like Chicago, Washington DC, Seattle, etc. My wife works for Disney so we like to go to Florida as well. When our daughter gets a little older we'll probably be up for some trips to some other continents as well.

A full kitchen is definitely nice, but not a necessity. Daily maid service is also not at all required for us.

In some cases, you will find that it takes a lot of work to book a timeshare stay vs. a hotel stay. Hotel stays often involve booking online and not paying until you are there. Timeshares often require advanced booking and paying. If you cancel a hotel stay a week before, you usually get all your money back. If you cancel a timeshare stay a week before, you probably won't get any money back.

I am a heavy planner, so I'm OK with preplanning... I actually like to plan for my vacations. It's probably my favorite pastime!
 
I'm OK with flexibility (though I suppose that will get harder once my daughter is going to school) but am not OK with maintenance fees going higher than inflation, especially given the higher MF than room rate experience I mentioned above! Is this always the case, or are there timeshares out there with more reasonable MFs than Hilton?
Funny you mention the Hilton as high MFs. Aside from Elara, Hilton's Las vegas resorts have the lowest MFs. There are lots of other timeshares with MFs much lower than Hilton's. Hilton is on the high end of the spectrum.

All my California Timeshares had increases considered to be "higher than average" this year. With Hilton, I was more disappointed with their increase of fees to book vacations than their increase in MFs. Book what you don't own in Hilton and you pay a booking fee, plus another fee if you book for a guest. Shell and Worldmark allow booking at all their resorts without charge and no charge for guest stay.
 
Welcome to Tug! You're in the right place to learn more than you'll ever think you'd want to know about timeshares, and the timesharing process.

Take things slow, and do your research. It is MUCH easier to get into one than to get out of one. Read all the sections about buying and selling a timeshare, until you feel you have a clear idea of what appeals to you. Visit them (but don't buy anything!!) to get more familiar with the different programs. As David suggested, rent a timeshare from an owner to get a feel for how it differs from renting a hotel room. Depending on where you're staying the differences can be enormous.

For example, hotel rooms tend to be one all-purpose room, have tiny microwaves and mini fridges, and little else. Timeshares tend to have separate bedrooms, multiple bathrooms, full kitchens and washer/dryer units right in the room. It's more like staying at an apartment, than a hotel. But that also means you aren't usually treated to daily maid service, trash removal, and someone to pick up after you. It's a trade off.

If you like feeling relaxed and "at home" when you travel, if you tend to stay put for a few days or a week at a time, even while seeing the local sites, and if you like the convenience of being able to cook for your family to enjoy meals in, then you'll begin to see the advantages of timesharing, vs. renting a hotel room.

Cost can be a factor. If you have a seriously limited budget, or don't stay more than a night or two at a time in one place, timesharing may be too expensive for you. Points programs let you schedule a few mights at a time, if you wish to break up your vacation into smaller pieces. But the associated costs may be something you'll want to be clear about, so you don't spend more than you need to.

No matter what you get, buy it resale! There is nothing worthwhile to justify spending thousands (or tens of thousands) to buy from a Developer. The savings can be monumental - a "second hand" ownership can be as low as $1 or less, compared with ten or twenty or thirty THOUSAND dollars if purchased "new." But when you stop to think of it, even that brand new timeshare will have been used by someone else before you get to use your time there. Avoid the depreciation, and buy in resale. It'll make your "per night cost" much, much lower.

Maintenance fees are a factor to be considered. You need to weigh the cost of the ownership against your intended use of it. If the maintenance fees are too high, and you can rent the same or better place for less, then it's not a good idea. But if the cost is average (or below average) and you have the option to stay at a place you like without paying too much, then it's probably a better deal, and worth looking in to.

Gone (mostly) are the days of the mysterious "tiger trader," where a cheapie timeshare in some obscure place will let you trade in to the top resorts elsewhere. They do still exist, but they are not too common. The general rule now is to buy where you like to stay, rather than exchanging through a third party company. Exchange fees drive up the cost of your vacation, so you need to weigh into what works best for you.

My recommendation would be to look into buying a points program of some sort, or one of the "mini systems" of internal exchange groups that own in several locations. So you'd trade within your own group. Only you can decide if it's worthwhile, and whether you think you'd get your money's worth.

In my own example, I like to vacation in Hawaii, so that's where I own. I have a week's stay every two years in a nice oceanfront unit in a pleasant resort. My costs are less than half of the price for a similar-but-less hotel located right next door, that shares the same beach as my resort. The math works well for me. But your situation may be different. I bought my unit resale, and spent less than $500 including closing costs for the whole thing.

Good luck in your research. Join Tug for $15, and learn what you can. It'll be the best vacation dollars you ever spent.

Dave

Thank you for the answer! i didn't even think of exchange costs... I guess I just figured the maintenance fees covered it and I could exchange and go to other hotels in the same chain for no fee. How much are these? I take it they vary from timeshare to timeshare. I'm starting to feel that the situation just doesn't work out for my family.
 
In addition to TUG

In addition to TUG, read the Redweek site and get familiar with the Marriott Resale site. This will give you a good sense for competitive prices for a wide variety of timeshares. I am partial to Time Shares where you would like to visit, in high demand seasons....... Platinum or Red. I also like units with a Lock Off and would take a serious look at an Every Other Year. The EOY will literally cut you maintenance fee in half. Financing Time Shares is expensive........approx......11% to 14%.......so try to plan to pay cash for them. Once you have a timeshare, you can leverage the Interval International membership in many ways to get a lock of bang for your buck if you are flexible and have a desirable ownership. Good luck! Having something will force you to have a nice family vacation at least once a year.....so that is a plus. If you buy from a developer............expect the value to drop by 75% immediately....because you will have overpaid.
 
We like visiting major cities like Chicago, Washington DC, Seattle, etc. My wife works for Disney so we like to go to Florida as well. When our daughter gets a little older we'll probably be up for some trips to some other continents as well.

Sounds like Wyndham might be a vacation club you would get use out of.
Worldmark and Wyndham are found in some of the big cities where it isn't normal to find a timeshare.
 
Funny you mention the Hilton as high MFs. Aside from Elara, Hilton's Las vegas resorts have the lowest MFs. There are lots of other timeshares with MFs much lower than Hilton's. Hilton is on the high end of the spectrum.

All my California Timeshares had increases considered to be "higher than average" this year. With Hilton, I was more disappointed with their increase of fees to book vacations than their increase in MFs. Book what you don't own in Hilton and you pay a booking fee, plus another fee if you book for a guest. Shell and Worldmark allow booking at all their resorts without charge and no charge for guest stay.

Fees scare me. I don't like fees! I haven't looked at Shell or Worldmark. I guess I will head to their websites now!
 
Some TUG rules:

Buy resale- if at all.

Buy where you want to go at least half the time- preferably someplace you can drive to. Don't consider Las Vegas, Florida, Palm Springs (well maybe) Williamsburg Va, Sedona. These places are overbuilt and don't exchange well. Tahoe would be better. Oregon coast best. Not easy to find, but if you can score one, it will trade well

You may be flexible now, but what that 4-year-old goes off to school, you'll be tied to the school schedule. Much more difficult to get to the popular places if you have to compete.

You mention Chicago, DC, and Seattle. Sorry. Timeshares are limited or non-existant there.

Enough 'rules' for now. You have a lot of reading to do.

Jim
 
I would also think about how much $ you're willing to spend. It would also help to visit the websites of Wyndham, Starwood, Hilton, Marriott, Hyatt, Welk, etc to get an idea of the resorts they have..
 
If you are interested in DC, the two Wyndham Timeshares are National Harbor and Old Town Alexandria. Both are great resorts. Old Town is harder to get into.

Comparing timeshares to Hotel Rooms does not mix and match well. The timeshare units tend to be overall of better quality. Hotel Rooms tend to be more readily available if quality is not of concern.

Beware of major changes going on within the system you would join. If it is Worldmark by Wyndham, Wyndham Club Plus, Wyndham Club Access, Wyndham Presidential Reserve, Wyndham Outrigger timeshares, or anything else under the domain of Wyndham Vacation Ownership, it would be wise to avoid any purchase in any of these systems for the next year. This gives time to see with 20 20 hindsite what is going on with the new "One Company" thinking that appears to emerging with Wyndham Worldwide.

To the extent that major changes are occurring within various Timeshare groupings, review threads on TUG to the extent they are discussing the changes within the target system(s).

In the meantime, rent through Market Place to check out the places you might want to purchase in. Timeshare rental is a buyers beware operation.
 
We own at marriott because we like the rooms. We like two bedrooms and a washer dryer. Marriott has resorts where we like to go.

We don't own in the points system because it is simply too expensive for us. We bought two of our three weeks on ebay and got two great deals. We usually trade those weeks for other destinations. We split the room by locking it off so that we get two trades for one week.

With other special II programs, it is sometimes possible to own a week and parley it into four weeks of vacation. Not all the time, but sometimes. That makes the maintenance fee low per week of vacation.

Marriott and II are relatively simple to navigate if you don't own points.

I would advise you to look into the marriott system and if you like it, patiently look for bargains on ebay.
 
My $0.02 worth...

<snip> I'm OK with flexibility (though I suppose that will get harder once my daughter is going to school) but am not OK with maintenance fees going higher than inflation, especially given the higher MF than room rate experience I mentioned above! Is this always the case, or are there timeshares out there with more reasonable MFs than Hilton?

Others have already provided sage advice and wise input above. A few additional thoughts, fwiw...

You are absolutely correct that your scheduling "flexibility" will promptly disappear once your availability becomes directly tied to (and constrained by) school schedules. IMnsHO, this single fact argues strongly for "rent, don't buy". Renting will give you planning and location flexibility without the initial buy-in cost or the long term commitment of ownership, while you further examine the many details and nuances of timeshares.

Maintenance fees can be all across the board in the timeshare world. HGVC is not unusually high for the quality. There are numerous independent (i.e., not "chain" associated) timeshare facilities of lower quality, yet with comparable or higher fees (...some of which I have previously owned and have since unloaded).
Facility location, number of facility units / weeks, age of the facility, management and HOA competency all come into play. Generally, annual increases in maintenance fees will at least match (and more often, exceed) the rate of inflation.

In summary, my recommendation would be to spend some weeks (maybe even months) reading and absorbing all that you possibly can on TUG before considering buying anything. If you later decide to buy, do so only in the resale market, never directly from a developer. In the meantime, just rent --- and don't rush to buy.

Just my personal opinion from nearly three decades of timeshare experience (...including mistakes).
 
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Thank you for the answer! i didn't even think of exchange costs... I guess I just figured the maintenance fees covered it and I could exchange and go to other hotels in the same chain for no fee. How much are these? I take it they vary from timeshare to timeshare. I'm starting to feel that the situation just doesn't work out for my family.

I do not want to stir up trouble on this thread, PM me for various rental paths if you are interested.
 
I think you will be doing yourself a disservice if you avoid timeshares because the fees go up more than inflation. I just dont think comparing fee increases to inflation makes sense. Rather you need to compare timeshare fee increases to increases in the vacation rental market.

I dont think my fees have increased any more than hotel rates, or the prices I see on VRBO

More than that, Im not overly concerned with fee increases at all...To me its like gas prices. I didnt like it when gas went over $4.00 a gallon, (which was a greater increase than inflation) but I didnt stop driving and I didnt stop buying gas. And if the cost of my vacation home goes up, chances are Im not going to stop going on vacation either

This is the image that sold me on timeshares.
images

Im happy to pay more for it than I do for some of the other things I spend money on. Timeshares are a luxury and you have to pay to play... Im not saying money is no object, but you shouldnt be going into your "necessities" budget to pay for it. Timeshares are an extra, and if you arent willing or able to pay extra, dont buy.
 
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