What to buy? My answers! :)

[Caperguy]

1) Where do you want your home resort to be?
Cheapest maintenance fees.

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?
Not sure; likely look around at other resorts and affiliations

3) What are your 5 top trade destinations?
Orlando (and specifically Disney, but other attractions too), California, New York, Vegas maybe, Hawaii (down the road sometime)

4) How many people do you usually travel with?
4 (the two of us and our 2 kids, currently 6 and 4)

5) Can you travel any time, or are you locked into the school schedule?
Usually locked in, which would leave March break, July/Aug, maybe after Christmas

6) Can you make firm plans 12 or more mos. in advance?
for larger trips we would, yes, due to having to buy airfare (we're from Nova Scotia)

7) Can you vacation for a full week at a time?
yes, that would be the plan

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
higher the better

9) How much can you afford to spend upfront, without financing?
wouldn't want more than $5,000

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?
$1,000 (would like every 2nd year...been looking at points, etc and we would not travel every year...we'd borrow from one year to use another)

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, that's why we want low up front fees and something that would suit us going forward (at least a room that sleeps 4, maybe even 3 beds for when kids grow up)

 

[theo]

Fwiw, after reading your above input and considering the stated destinations and figures and the very young ages of your children --- not to mention the constraints of school schedules for years to come --- my advice would be to just rent timeshare space where / when you can / want to go in any given travel year and don't buy anything at all. You can find owner-direct rentals advertised in TUG Marketplace, RedWeek.com, MyResortnetwork.com. Some would even recommend craigslist and eBay as additional resources to find available rentals advertised, although I personally don't choose to ever use either one if / when looking for a timeshare rental.

At the very least, don't buy until after you've at least rented first to experience a few different timeshare properties and get a realistic feel for your space needs and your preferences for features and amenities (and associated travel costs). It seems to me that you should be looking at minimum 2BR units. Just my personal opinion. YMMV.

P.S. I do not rent out any of our timeshares; my above observations are not in any way self-serving by recommending or "steering" you toward rentals vs. buying.

 

[Passepartout]

Agree with Theo. There are great rentals in the Marketplace or on Redweek.com that cost very little more than MF, or even inside 45 days from move-in, in the Last Minute Rentals forum for less than $100 a night. And with zero buy-in cost, you are not tieing any funds up over the long term. You don't know what that young family will need in the future. And with kiddos, those MF bills that show up about the year's end, along with the credit card bills, suck big time!

Welcome to TUG. Stick around. Do some reading. At least get an idea what you really want. Your answers to the quiz were a bit ambiguous.

All the best.

Jim

 

[Caperguy]

thanks for the responses! We'll certainly do our homework. I've never looked at the rentals so that would be interesting. We want to return to Disney, have enough room for ourselves, but go to other places too, without paying a fortune, so we'll look.

 

[LisaH]

I would suggest that you look into Wyndham, Worldmark point systems, or Lifetime in Hawaii. LIH has low Maintenance fee (~$500/year), high TPUs if booking early and selecting the best weeks. Trading through RCI.

 

[Caperguy]

I would suggest that you look into Wyndham, Worldmark point systems, or Lifetime in Hawaii. LIH has low Maintenance fee (~$500/year), high TPUs if booking early and selecting the best weeks. Trading through RCI.

What are TPUs?

 

[TUGBrian]

renting is a great way to get into timesharing without any of the commitments!

 

[vacationtime1]

Theo's advice is very sound. Renting provides the opportunity to see what works for your family and what doesn't. It lets you determine what quality/luxury level you need/want. And it is without any economic cost.

Timeshares seldom increase in value. If and when you decide to purchase, your target timeshare is unlikely to cost more then than it would now. And if you are contemplating a timeshare trip every other year and you put the purchase decision off pending a couple of rentals, you can hold on to your capital for four years and make a more informed decision.

Don't get us wrong; we are timeshare nuts on this BBS, but we recognize their limitations as well as their considerable advantages.

 

[LisaH]

What are TPUs?

35-50, depending on the week.

 

[Passepartout]

What are TPUs?

Trading Power Units. A number between 3 and 60 more or less to rank week's/units in RCI. More is better, but not at any price.

Do yourself a big favor and do a few hours of reading around the site. A few months is better. It will pay you a big pile of money.

Jim

 

[Caperguy]

renting is a great way to get into timesharing without any of the commitments!

And it should be less expensive than trying to go book at a hotel for a week, as well as hoping it is the size and quality/location you want, right?

that's what has attracted us so far, is knowing you'd have a certain size room, the choice to go to different locations, possibility of the RCI exchange (maybe Disney). If you try to book a 'regular' hotel, to get 2 or 3 beds you're looking at much more expensive.

 

[Caperguy]

Theo's advice is very sound. Renting provides the opportunity to see what works for your family and what doesn't. It lets you determine what quality/luxury level you need/want. And it is without any economic cost.

Timeshares seldom increase in value. If and when you decide to purchase, your target timeshare is unlikely to cost more then than it would now. And if you are contemplating a timeshare trip every other year and you put the purchase decision off pending a couple of rentals, you can hold on to your capital for four years and make a more informed decision.

Don't get us wrong; we are timeshare nuts on this BBS, but we recognize their limitations as well as their considerable advantages.

I really appreciate the honest answers, which is what truly will help us (or anyone) decide. You guys saved us from buying retail straight from Hilton, so you got us hooked (and gotta love some of their tactics to get you to buy in....)

 

[DEScottzz]

35-50, depending on the week.

Maybe he meant, "What does TPU mean?"

I've been hanging out here for a few months, and I don't know what it means.

Edit: Never mind.

 

[rickandcindy23]

What are TPUs?

These are points in the RCI weeks exchange system.

RCI also has points, so we call the weeks' points TPU's. Someone on TUG came up with the name. Other people I know call it "points light."

California is an expensive trade, especially during summer breaks. Lots of TPU's for that one, but hey, if you plan it right, you can trade in cheaply enough.

I found the best week to actually own and trade is a 3 bedroom (lockoff) summer week at Presidential Villas at Plantation Resort in Myrtle Beach. Our trading power has dropped significantly over the years, but we still get 1-2 great trades per year with it. We used to get 101 points but now get more like 72 points with the 3 bed lock, split into two units and depositing a prime summer week. You can probably get a week for less than $2,000 with all closing costs included. It's also a great place to stay. The fees are about $720 right now for the 3 bed lockoff. The staff at the resort are very kind and take good care of us. We like the southern hospitality.

The highest exchange value in RCI is 60 TPU's, and there are some resorts and seasons that do go that high. But really, most exchanges average 30 points for us.

Orlando is cheap to get via exchange, unless you have to stay on Disney property. We love the Hiltons and Cypress Pointe, which are very inexpensive to stay via exchange, and all of the resorts are close to the parks. We like Vistana too, which is usually very cheap to stay.

RCI charges $209 for exchange, and there is an annual fee of ~$89, which you need to add into your costs of vacationing.

You aren't vacationing annually, it seems, but if you bought Presidential Villas, you have enough for two weeks each year. RCI allows you to build up your points in your account as long as you want. You pay a combine fee of $109, and you can keep doing that to build enough points for a really spectacular vacation sometime.

With Interval International, we have enjoyed owning Sheraton Broadway Plantation (also Myrtle Beach) for exchange purposes. We own Marriott too, but I recommend Sheraton because I can get the Marriott resorts in Orlando with the Sheraton, even the summer dates (not that we go in summer). The one bedrooms at Sheraton are not that expensive to own and trade. The two bedroom lockoffs are a bargain as a trader because you get two trades per year. The lockoffs are $1,200 per year in MF's but two trades. II membership is the same as RCI, but exchange fees are only $174.

You can get a 2 bed lockoff at SBP for less than $300, closing costs included.

There are lots of ways to do what you want. I named just a few I use, but we also own Wyndham, WorldMark, and Shell Points. WorldMark is the most expensive to buy, and I would join II with WorldMark because the trade power is exceptional. WorldMark in RCI is not as good. Shell Points is cheap to buy but has high maintenance fees. I don't recommend those points to anyone I know and love. I used to recommend Shell, but they are going to RCI, and this will be expensive for exchange purposes, when compared to my Presidential Villas exchange cost. I guess I need to use the points in other ways now.

 

[Ty1on]

And it should be less expensive than trying to go book at a hotel for a week

This may or may not be the case.....Size is typically the biggest advantage. If you end up renting a timeshare for $200 per night, that is a healthy chunk of change and you may see decent hotels competing at $150 per night. To get to apples-to-apples, you would really need to look at hotel suite pricing to get to the space and accommodations found in a typical 1-2 BR timeshare. Where a standard hotel room might run $150, even a 1 BR suite can run $250-$300+, and that's without a kitchen or laundry facility. The expectation of a full service hotel is that you will also enjoy their ridiculously priced restaurant(s).

You get daily maid in the hotel, but in all honesty, I usually put up the DND card and call in for no service in hotels, anyway. With the exception of fresh towels and toiletries, there is nothing I need daily for my room to be comfy.

 

[Caperguy]

This may or may not be the case.....Size is typically the biggest advantage. If you end up renting a timeshare for $200 per night, that is a healthy chunk of change and you may see decent hotels competing at $150 per night. To get to apples-to-apples, you would really need to look at hotel suite pricing to get to the space and accommodations found in a typical 1-2 BR timeshare. Where a standard hotel room might run $150, even a 1 BR suite can run $250-$300+, and that's without a kitchen or laundry facility. The expectation of a full service hotel is that you will also enjoy their ridiculously priced restaurant(s).

You get daily maid in the hotel, but in all honesty, I usually put up the DND card and call in for no service in hotels, anyway. With the exception of fresh towels and toiletries, there is nothing I need daily for my room to be comfy.

that's sort of what I was getting at, I think - if you can get a timeshare rental for $200/night and a comparative hotel with similar sleeping arrangements AND suite features such as a kitchen, with pools, amenities like that (not necessarily the expensive restaurant) for $250-300+, then wouldn't the better bet be the timeshare rental?

 

[Ty1on]

that's sort of what I was getting at, I think - if you can get a timeshare rental for $200/night and a comparative hotel with similar sleeping arrangements AND suite features such as a kitchen, with pools, amenities like that (not necessarily the expensive restaurant) for $250-300+, then wouldn't the better bet be the timeshare rental?

Yup. Kitchens are unusual in conventional hotels, though. The main reason is that they would compete with the restaurant, which was why I mentioned restaurants.

 

[Caperguy]

sounds good

 

[jfbookers]

VRBO & Homeaway.com

I know this is a timeshare forum but these sites can sometimes offer rentals that can often compete with timeshare rentals and sometimes offer more space. I think it is important to see how long the landlord has been renting and read the reviews carefully to make sure the landlord is honest and knows what they are doing.
There is plenty of inventory in several areas you mention and they can often be rented for shorter or longer stays.
Jim

 

[theo]

<snip> RCI also has points, so we call the weeks' points TPU's. Someone on TUG came up with the name. <snip>

Not that it particularly matters, but unless I'm mistaken TPU's (Trading Power Units) is a valuation contrived by RCI itself in the aftermath of the lawsuit against RCI ---
it's not a "name" that was just "invented" by anyone on TUG.

 

[Tank]

Lots to be said for picking vacations (all kinds of locations)with no strings attached from the rental timeshare inventory. More room to relax, more like home it can save a lot of money with the full kitchen / laundry.
People renting units can only get fair pricing. It is easy enough to do a online search to the place your looking at and plug in the dates and see the savings and reviews of the resort in question.

 

[WinniWoman]

Not that it particularly matters, but unless I'm mistaken TPU's (Trading Power Units) is a valuation contrived by RCI itself in the aftermath of the lawsuit against RCI ---
it's not a "name" that was just "invented" by anyone on TUG.

That's what I thought, also.

 

[Free2Roam]

RCI actually calls it "Trading Power"... I believe someone here added "Units" and it became TPU. I've never seen that acronym on RCI's site.

 

[rickandcindy23]

Not that it particularly matters, but unless I'm mistaken TPU's (Trading Power Units) is a valuation contrived by RCI itself in the aftermath of the lawsuit against RCI ---
it's not a "name" that was just "invented" by anyone on TUG.

That is the only place I have ever heard of it. I am probably mistaken. Silly of me.

We bought somewhat where we want to go, especially Maui, but we definitely have made exchanges our best bet for our 10-12 weeks a year. I think you can rent cheaply enough, sure, but I would rather exchange and play the game. That is what it is to me, and I enjoy games.

 

[LisaH]

Oops. In my haste to respond, I didn't read it well enough. Glad everyone has chimed in since.