Wyndham Bonnet Creek: Purchase vs. Rent?

[hickory]

I'm trying to make an informed decision and would love to get some insight.

Our family loves the Bonnet Creek property. We go at least once a year. The thing is, we always find the weeks we want on Ebay for much less than the annual maintenance fee. Are there perks to purchasing that I may be missing out on? The kids would happily go 2x a year if we chose but we're open to other properties in driving distance (preferably in Florida/Carolina's). From what I can see, purchasing would end up costing us more than just renting from current owners but I want to make sure we're not missing out on anything that would benefit our family of 6. TIA!

 

[hickory]

And also, if there are other timeshares that would make more sense to buy into with lower maintenance fees, I'm open to that as well. I wasn't sure if we could purchase at a lower fee property and still book Bonnet the weeks we need (March, November, December).

 

[bnoble]

If what you are doing is working, why change?

 

[hickory]

I wanted to know if there were ownership perks I didn't know about it. That's the real question. That would be what could prompt me to make changes. There seems to be a lot of information but nothing that clearly states if there are any additional ownership benefits (early checkin, late checkout, resort discounts, access to dates unavailable to general public, early access to book, etc.). I could probably do the timeshare presentation and ask but was hoping someone here had some insight or could direct me to where I could find out.

 

[hickory]

If what you are doing is working, why change?

I wanted to know if there were ownership perks I didn't know about it. That's the real question. That would be what could prompt me to make changes. There seems to be a lot of information but nothing that clearly states if there are any additional ownership benefits (early checkin, late checkout, resort discounts, access to dates unavailable to general public, early access to book, etc.). I could probably do the timeshare presentation and ask but was hoping someone here had some insight or could direct me to where I could find out.

 

[bnoble]

Only if you purchase from the developer for big bucks. You can sometimes get discounts at the last minute—either points or cash—but those are never guaranteed.

You gut be able to save a little by owning a different Wyndham resort and using your points here, but again if what you are doing now works, don’t change it. There are some advantages to renting.

 

[Fido Chuckwagon]

I'm trying to make an informed decision and would love to get some insight.

Our family loves the Bonnet Creek property. We go at least once a year. The thing is, we always find the weeks we want on Ebay for much less than the annual maintenance fee. Are there perks to purchasing that I may be missing out on? The kids would happily go 2x a year if we chose but we're open to other properties in driving distance (preferably in Florida/Carolina's). From what I can see, purchasing would end up costing us more than just renting from current owners but I want to make sure we're not missing out on anything that would benefit our family of 6. TIA!

You don’t have to purchase CWBC points to stay at CWBC. At the 10 month mark in Wyndham points are points and can book anywhere, and CWBC is not a difficult place to book, at any time of year, especially if you are looking for a 2 bedroom unit. Are you pricing out CWBC points, or, for example, something like Bali Hai points ($4.96 / 1k points in maintenance fees)?

 

[Fido Chuckwagon]

I wanted to know if there were ownership perks I didn't know about it. That's the real question. That would be what could prompt me to make changes. There seems to be a lot of information but nothing that clearly states if there are any additional ownership benefits (early checkin, late checkout, resort discounts, access to dates unavailable to general public, early access to book, etc.). I could probably do the timeshare presentation and ask but was hoping someone here had some insight or could direct me to where I could find out.

The benefits are that you get to control your reservation (including the ability to cancel if something changes in your plans), you don’t have to worry about renting from someone else, and you can easily rent during owner priority periods. Other than that, no real resale benefits.

 

[paxsarah]

The benefits are that you get to control your reservation (including the ability to cancel if something changes in your plans), you don’t have to worry about renting from someone else, and you can easily rent during owner priority periods. Other than that, no real resale benefits.

Yep. And I'm guessing most of the lower-cost rentals on eBay are made by VIP owners in the discount window, and even the best resale maintenance fees aren't going to be able to compete with that. The drawback is there may not be the exact reservation you want on the exact dates you want. But if the main destination is Bonnet Creek and you're basically finding what you need there, there probably isn't a reason to move into ownership.

 

[BaillieCH]

I'm trying to make an informed decision and would love to get some insight.

Our family loves the Bonnet Creek property. We go at least once a year. The thing is, we always find the weeks we want on Ebay for much less than the annual maintenance fee. Are there perks to purchasing that I may be missing out on? The kids would happily go 2x a year if we chose but we're open to other properties in driving distance (preferably in Florida/Carolina's). From what I can see, purchasing would end up costing us more than just renting from current owners but I want to make sure we're not missing out on anything that would benefit our family of 6. TIA!

Okay, I don't know what you pay for a rental and BC for a week nor how many bedrooms it is. I can tell you; I pay about $2,400 a year in maintenance fees for 300K points at Bonnet Creek. that gets you a week stay in a 2 bedroom just about any time of year with a little left over to roll into the next year. Without actually cranking the math, it looks like if you do that, about every 2 years you would be able to do an additional full week (crank the math, don't take my word). Like others have said, at 10 months, points are points so you could have those 300K points for closer to 1,800 or less a year depending on what resort the contract is tied to. Based on those assumptions, if you are renting for less than that every year, owning might not benefit you.

Other considerations:

As an owner at BC, I get to book 13 months out. While not an issue for most, given the size of my family and age of my kids, I kind of "need" a 3 bedroom. Since 3 and 4 bedroom units are a significantly smaller portion of the available units at all resorts, it is harder to get them and they go fast. The benefit of owning at BC for me is that I can guarantee I get a 3 or 4 bedroom when I want it not when it's available to rent. Outside of that specific example, there is no real benefit to owning at specifically BC (had I known then, what I know now, thank you TUG, I would have done things differently.)

The other benefit of owning points is that they can be used at other resorts, like I said at 10 months out, points are points. Also, you can use those points in RCI to exchange for resorts that aren't in the Wyndham system. I had 120K points available and my wife and I did a weeklong couples retreat to Grand Caymon. It all depends on the MF on whether it is worth it to you. I was able to use the points equivalent of $2k to get a 4-bedroom presidential and Great Smokeys for this upcoming spring break, when I compared a rental when I booked would have cost me $6500 for the week.

 

[jp10558]

I don't think bonnet creek is really worth buying from what I've read here, and I don't think I'd tend to use my Wyndham points to stay there either given how often it's available cheaper by other means. The reason IMHO to own in any timeshare system is to get access to reasonably/practically stay at places you otherwise couldn't. If you can always rent for less than MFs, RENT. The ownership benefits were things like getting a 2BR at La Belle Mason on a date more or less of my choosing at 10 months out. Or getting RCI access for the various cash deals there which usually can be a really good deal in certain locations.

 

[Floridaman76]

If you can rent for cheaper, you can do it. Although don't be surprised if that eventually comes to an end, apparently Wyndham has been cracking down on people renting. Also ownership allows you to not just go to BC. So there's that.

 

[Panzerman45]

We are going to Bonnet Creek this Saturday and will be there all of January. WooHoo! We have found that the Wyndham Access points if obtained at almost free are the way to go for us.
The reservation window going out 13 months is excellent and we ALWAYS get the location and unit we want. Another feature we like is the yearly maintenance fee is paid monthly which spreads out the pain. Wyndham has been perfect for us. All our dealings with Wyndham itself for questions and concerns have been resolved quickly.

 

[Fido Chuckwagon]

We are going to Bonnet Creek this Saturday and will be there all of January. WooHoo! We have found that the Wyndham Access points if obtained at almost free are the way to go for us.
The reservation window going out 13 months is excellent and we ALWAYS get the location and unit we want. Another feature we like is the yearly maintenance fee is paid monthly which spreads out the pain. Wyndham has been perfect for us. All our dealings with Wyndham itself for questions and concerns have been resolved quickly.

We’ll be checking in the same day! Checking out of a week at Bay Lake Tower (Boo Hoo, going to miss that), and into a week at Bonnet creek.

 

[Richelle]

Bonnet creek maintenance fees are high. Unless you want a four-bedroom presidential over Christmas, there is no reason to buy points at that resort. Your best bet would be to buy a lower maintenance fee resort. For comparison purposes, I am going to compare National Harbor maintenance fees with costs on eBay. Not sure if you saw the eBay descriptions, but with the exception of the listings that have specific dates, the price you are seeing on eBay are often per night. You have to read the description carefully. The scenario below is based on Value season and Prime season. I went with the cheapest sellers I could find on eBay that had listings for those time frames.

The below numbers are based on a two-bedroom unit with no VIP discounts or free upgrades.

Prime season
224,000 points in a two-bedroom.
NH maintenance fees for 224,000 points is roughly $1,305
Ebay cost - $2,293
Winner: Owning saves you $988

Value season
84,000 points in a two-bedroom
NH maintenance fees on 84,000 points is roughly $489
Ebay cost - $1,575
Winner: Owning saves you $1,086


Now let's say a Founders VIP member who owns NH and rents to you at a 60% discount. This is unlikely in prime season but not impossible.

Renting cost for prime season - $522
Renting cost for value season - $195.6
Winner for both: Renting wins

The savings could be more if they get a free upgrade from a one bedroom to a two bedroom. Getting both discounts and upgrades during prime season is difficult, but not impossible. It's one of those things you can hope for but not count on. Your best chances of discounts and upgrades are during value and high season. Also, the discounts are only on reservations made 60 days from check in. So, if you need to book further out, you won't get the discount. Inventory at 60 days from check-in is scarcer than it is at 10 months from check-in. That's why getting both discounts and upgrades during prime season is harder. If you're traveling during prime season, you will want to be flexible with dates if you want the discount.

A few cons about owning that should be mentioned:

1. It's a commitment. You are required to pay maintenance fees every month, and they do increase every year. It's usually between a 4-5% increase every year, but sometimes it's more, and sometimes less. If you stop paying, it will be a ding to your credit.

2. It is not quick to get out of these things. Wyndham has an exit program that is free if your resort qualifies. Owning NH should qualify because it's a popular resort (due to its lower maintenance fees) so it's easy to resell. However, it can take 3-6 months for the contract to be taken back, and you have to pay maintenance fees during that time. If you're in dire financial straits, that would be very difficult

3. You have to take the time to learn the system. If you don't, you'll get burned. Either by paying a fee you didn't know about (and could have avoided if you planned better) or losing points because you missed the points deposit deadline. Most people can learn the basics fairly quickly, but you'll want to go through them. Club Wyndham has a new owner section of the website that has helpful videos and tutorials. They also have webinars.

4. Just like renting, if you're a last-minute planner, you will have to be flexible. It's supply and demand. Timeshares work best for people who plan further out. The difference between renting and owning though is you have better visibility when you're an owner. You can log into the website and see availability for yourself.

5. Chances are, you won't have a contract that is the exact number of points you need for that specific room. That's both a good and bad thing. Good because it gives you more options of places to go. Bad because you have to pay $49 to move the left-over points to another year if you do not use them. Plus, the higher point contracts cost more in money in maintenance fees. Right now, there is a 301,000-point National Harbor contract on eBay. The maintenance fees are wrong on the listing. Next year, it would actually be $1754.83 a year or $146. 24 a month. So, you would be paying $1754 a year and would have 75,000 points over what you need (assuming it's a two bedroom at Bonnet). You can find smaller contracts; you would just have to wait for them to show up on eBay or other resale markets.

A few cons about renting:

1. Most sellers do not offer refunds. When they cancel, they lose a guest certificate. Those cost $99 online if they run out. If you cancel and they do not find another buyer, they could lose those points or have to roll them into RCI. RCI does not allow rentals, and it cost a small fortune to book an RCI reservation. If you cancel because you were injured or had COVID, and they do not rebook you somewhere else, you could lose that money.

2. Sometimes sellers rent because they need the money. In theory, they would use the money you give them to pay maintenance fees. If they don't or it's not enough, Wyndham could end up canceling the reservation. Then you would have no vacation, and you would have lost that money. Make sure you stick with sellers that have a long history of renting.

3. There are scammers everywhere. Again, stick to sellers who have long history of renting. eBay feedback ratings are your friend.

4. You need to be more flexible if you want to take advantage of the discount and you have to find an owner who is VIP that wants to rent to you. If you book 60 days out, you might not get the room you want at Bonnet creek. You may have to choose another location. Orlando has lots of choices at 60 days from check-in, but it's not always Bonnet Creek. With that said, all my value season Bonnet creek reservations have been discounted and upgraded. Most of my high season ones as well.

5. You do not have visibility into the website to see what is available and what is not. You have to wait for a middleman to get back to you on if your preferred or backup dates are available.


There are plenty of people here who will share with you more cons of owning and renting. You should listen to everyone and make a decision based on what is best for you. This is probably way more then you wanted, but I hope it helps.