Wise to buy in overbuilt areas

[JVT]

OK, so now it's Feb '12 and I have purchased my first three TS's within two months time. One went sour but the other two look good to go.

One is a 4th of July week at Massanutten's Woodstone complex, 4 BR lock-off.

Would it be wise to purchase another unit here at Massanutten? I was thinking another Woodstone, a Summit or even a Mountainside. It's a 6 hr drive from me and I'm sure when my kids are older, they are going to want to come here every year. And it would save a ton on airfare if I drove. I'd like to get a room for the grandparents or other family members.

BUT I'd also like to use it for trading in the future. BTW, I'm not a member of RCI or II yet.

Will another 4 BR lock-off help me out? Theoretically, after splitting, I can book 4 weeks of vaca at comparable locations with comparable 2 bedroom units, right? The thing is, I understand that it is overbuilt.

Am I pulling the trigger to fast? Timesharing is a disease and I got the bug!

I have been vacationing most of my life and spent most of my adult like in the most foreign places around the world on a shoestring college budget. I love traveling and want to have a portfolio for when I retire...I'm only in the early thirties but I'm planning ahead.

Maybe if I get a floating or a holiday week, I can easily rent it to cover the MF....???...I'm confused. That's what I'm hoping for at least...

 

[Egret1986]

If you split your 4BR lock-off, (2) 2BRs; that's 2 weeks of vacation.

One is a 4th of July week at Massanutten's Woodstone complex, 4 BR lock-off.

Will another 4 BR lock-off help me out? Theoretically, after splitting, I can book 4 weeks of vaca at comparable locations with comparable 2 bedroom units, right? The thing is, I understand that it is overbuilt.

Maybe if I get a floating or a holiday week, I can easily rent it to cover the MF....???...I'm confused. That's what I'm hoping for at least...

You can make two deposits when you split your 4BR lock-off. The number of TPUs may get you 4 weeks of vacation, but you will need to either travel short notice or off-season most likely. Massanutten does not get a whole lot of TPUs.

I believe the July 4th week would be able to cover the MF if you rented one side of the lock-out and you would have use of the other side at no annual cost. Other weeks (except weeks 51 and 52) may be harder to rent since there is so much availability. RCI has many Extra Vacations for non-holiday weeks for $300 for 2BRs.

You've got the bug, but you might want to slow down before jumping in again. If you're in your 30s, your children must be young. There is no telling what things will be like that far into the future. After going there year-after-year, they may be tired of Massanutten once they start travelling on their own. Who knows what the future holds or what somebody else's wants and desires may be?

I watched the auction on eBay for the Week 26 Woodstone that I am assuming you were the winning bidder on. I have been an owner at Massanutten and exchanged in many times. It is a great 4-season reasort. If you need extra units during non-Holiday times, there are plenty of low cost rentals out there for the resort, even at their newest development, Regal Vistas.

As has been said many times; timeshares are really easy to buy, but not always easy to resell. Timeshare resales aren't going any where. I can only recommend to slow down until you're no longer "confused."

 

[SOS8260456]

OK, so now it's Feb '12 and I have purchased my first three TS's within two months time. One went sour but the other two look good to go.


Am I pulling the trigger to fast? Timesharing is a disease and I got the bug!

...

Welcome to the disease club!


One thing to think about when planning for a retirement portfolio is how old will these resorts be when you are ready to retire and what will be the cost of exchanging be. Also, there are so many places out there, how can you really know now where you want to spend your retirement? You have plenty of time to examine and try different systems. One thing I have learned is that our timeshare portfolio is a constantly evolving proposition.

 

[ronparise]

When does the support group meet?...

This advice is in the nature of "do as I say, not do as I do" and the advice is...have a plan, including a budget and an exit strategy, know why you are buying this stuff....and make sure your spouse is on board...I cant imagine facing the maintenance fees for another year (and my wife) if I didnt use what I own effectively the year before.

I went overboard too, in my first year, (last year)...and I promised myself that i would slow down and do a little selective pruning of my "portfolio" this year as I did make some mistakes

However I have already contracted to buy another 4 weeks since the first of the year, and it looks like im going to double my Wyndham point ownership too..Its not on paper yet but I have reached an understanding with the seller.

So good luck with your new addiction

 

[Beefnot]

I bought one TS last year in Orlando and am buying one right now in Branson, both overbuilt locations and in low cost properties. As long as the resort allows one to reserve a high demand week and then deposit it, it can be a ver cost effective way to vacation wherever you'd like, unless you have got some brand-specific obsession. I have only done one exchange so far, but I am really liking my strategy right now.

 

[Patri]

You got a great week at Massanutten. Congratulations. But I'd say cool your jets. Enjoy what you have for a few years and see if your long-range plans change.

 

[JVT]

Thanks for the replies guys...and the support. I feel like I'm at an AA meeting. We'll call it a TS meeting!

Thanks giving me a reality check and for slowing me down...I was about to go crazy buying stuff! LOL

A lot of good points were made and will be considered.

My kid just turned one and the other has just been baking in the oven for 3.5 months!

I guess I still have some time.

THANKS for saving me MFs!!!

 

[Ridewithme38]

I own in Williamsburg and Myrtle Beach, two very popular travel locations, with the amount of Timeshares to prove it....I love both of my ownerships

 

[JVT]

Hi Ridewithme,

I saw your post before regarding the lack of bathrooms/rest stops on the way to Massanutten. I'm in the same predicament with family.

Tried to PM you. Pls advise if you received it. I'm still learning the forum.

Thanks!

 

[sunshinevalues]

When does the support group meet?...

This advice is in the nature of "do as I say, not do as I do" and the advice is...have a plan, including a budget and an exit strategy, know why you are buying this stuff....and make sure your spouse is on board...I cant imagine facing the maintenance fees for another year (and my wife) if I didnt use what I own effectively the year before.

I went overboard too, in my first year, (last year)...and I promised myself that i would slow down and do a little selective pruning of my "portfolio" this year as I did make some mistakes

However I have already contracted to buy another 4 weeks since the first of the year, and it looks like im going to double my Wyndham point ownership too..Its not on paper yet but I have reached an understanding with the seller.

So good luck with your new addiction

We have used and exchanged our timeshares- usually we travel in fall and spring which is easier to trade.. Sedona Az is overbuilt area- next to Grand Canyon - and wonderful for hiking, good restaurants and quiet and peace ful place. For renting our timeshare, Craig's list brings better responses that TUG.