Thinking of buying

[Beefnot]

Everyone talks about buy where you want to go but then in the same breath talks about all the spectacular trades and all that. I figure its best to buy somewhere dirt cheap near you (my silver Shadow Ridge I got for a dollar and a quarter should close by thanksgiving I'm told) and learn.

 

[TheTimeTraveler]

Everyone talks about buy where you want to go but then in the same breath talks about all the spectacular trades and all that. I figure its best to buy somewhere dirt cheap near you (my silver Shadow Ridge I got for a dollar and a quarter should close by thanksgiving I'm told) and learn.

Not so fast... Now you're stuck with that week and the required annual fees that go with it. Will you be able to turn around and sell it to get that ball and chain off your back?

I hope the learning curve isn't too steep.....




.

 

[timeos2]

Make no mistake - I am a strong proponent of owning timeshare. But in nearly 20 years of all types of ownerships, memberships in II, RCI, SFX and other independents and many years of serving on Board's I now have concluded that you must be extremely selective in WHAT you buy. It is far too easy to buy a "deal" and be focused on all the wrong reasons. A low purchase price means nothing about the quality of the resort or system - and high price doesn't either. Purchase price is basically money lost as it gets you nothing but the right to pay future fees for use.

Annual fees are the real cost and far too many buyers either ignore this or aren't truly aware of how a condo/timeshare Association and/or multi-resort timeshare system really works. They are too quick to buy in without even knowing if they are buying an owner controlled resort/system (good idea if done with proper research) or one under the all too often heavy thumb & control of a developer (usually a bad move unless you really understand how that means you have virtually no say in anything and will pay whatever they decide you owe).

Add in the last few years of economic woes and the resulting crush of both cheap resales (CAN be a good deal if bought for use & with Owner control) and unbelievable deals on rentals even in the best places at formerly unavailable times and there are very few purchases that really make sense. The out of control exchange fees, the unchecked annual fees (especially when under "name brand" Association control) and the inability to easily get out of a timeshare you no longer have use for mean those that you buy had better be for your use, easy to get to (avoid required air fare as that too is a killer when prices rise) and pay little or nothing as the real costs are those fees and sellers just want out.

Timeshares can still be a great way to travel on a budget but don't get blinded by the many great ones being offered cheap. There is a reason. They don't rent easily, they don't sell or even give away easily and fees can and will go up - in many cases quickly and unexpectedly. Not to even mention those special assessments - only owners pay those. Renters can pay (maybe less than the annual fees - maybe a little more for the very best but they have no ongoing obligation or risk) enjoy and move on to the next with no exchange company memberships or fees, no annual fees and no need to go to a specific resort or system most of the time. if you WANT to go to a specific resort/system then by all means buy (or accept a free ownership) and enjoy. But for trade, rental or resale timeshares tend to be very much a losing proposition.

We enjoy our two ownerships & wouldn't give them up. But we're VERY happy we sold off the 6+ others as none of them made economic sense to own today. We continue to enjoy them all by renting - all prime times and unit sizes/locations we want. Far easier than even the best systems and we are paying far less. For most I'll bet that is the best approach today. YMMV.

 

[Beefnot]

You really think I couldn't give away a Marriott palm springs free to good home if push came to shove? Even if not, my wife and family will love the luxurious vacations there every year. Now that cheap off-brand platinum Orlando TS I am buying on the other hand, I'm getting buyer's remorse already. That may be a painful learning experience, as I violated a TUG cardinal rule in buying just to trade...and bought in Orlando to bat. Gulp.

 

[GregT]

Moderator, will you delete the prior post? I am offended and it is off topic.

Thanks for the response Denise, but ah, I still won Ok now we can get back on topic

Beefnot,

I'm not sure what to make of your posts here -- you were offended, but then happy that you won?

Irrespective, welcome to TUG and I do hope that you find helpful information here to make the most of your purchases. I think your Marriott will be a good property to utilize for personal use or for trading and if trading, I hope you reserve July 4th weeks for best trading power. I don't know your Florida property, but will hope it works out.

All the best,

Greg

 

[Beefnot]

Thanks Greg. Can't wait to post about my experiences.

P.S. Was not offended at all, was making light of all the p.c. sensitivity.

 

[timeos2]

You really think I couldn't give away a Marriott palm springs free to good home if push came to shove? Even if not, my wife and family will love the luxurious vacations there every year. Now that cheap off-brand platinum Orlando TS I am buying on the other hand, I'm getting buyer's remorse already. That may be a painful learning experience, as I violated a TUG cardinal rule in buying just to trade...and bought in Orlando to bat. Gulp.

Sure - but that just proves my earlier point that purchase price is money lost. If you are willing to pay a relatively big purchase price, then inflated fees for a name management all to give it away when you're done that may be a nice way to vacation but it sure isn't a cheap way. If you want that great! Just don't try to say it's a bargain - it's paying fairly high cost for a better than average ownership/use.

Nothing wrong with that at all if you want it & are willing to pay. The thread seems to have been based on inexpensive ways to take advantage of the better deals out there not paying big money for nice places. No trick or deal in that.

 

[Beefnot]

The Marriott I got for nothing so at least there is no purchase money gone. Even the Orlando one cost nothing. So my acquisition costs are not at issue. Utility while i own and ability to dispose should I need are my only concerns. The only reason I would put down big dough up front is if I really -- scratch that, I wouldn't pay big money up front under any circumstance.