OT: Advice on buying a timeshare

[cwnhokie]

I know there are a lot of timeshare owners on this board. I am looking to buy an inexpensive timeshare that I could use as a trade to visit various places. Our family loves to vacation and I'm thinking a timeshare may be the best way to do it. I've been looking on Tug.net. What do I need to look for? I've been looking at price, maint. fees, looking for one that trades with II so that maybe I could get DVC, and Red. Does it matter where it is or what specific week it is? I think that's all of my questions. Thank you for indulging me with this off topic question.

 

[disneyeveryyear]

I would suggest that you buy one at a location that is popular. Your ability to trade may be based on the demand for your location.

 

[spiceycat]

yes, sometimes Beach week trade better with II.

there is one that seems to get more than it shares of Disney.Foxrun.
Foxrun, Lake Lure, NC

I don't know why this one seems to get so many. I would get a summer week at this resort if you can.

remember that most of the trades you will see for DVC will be offseason - a few in the summer. but if you want to go during the holidays - then forget about trading and go rent some DVC points.

ask on tug about joining their group on yahoo. I would send you a link - but this is an invitation only group. I will see if I still have the email you must send a request through.

here it is
'Just drop me a line at barcol2000@yahoo.com or
collinsn@sympatico.ca with Foxrun in the subject line and their Email
addy's in the message and I'll extend an invitation to them.'

go luck....

oh some past members of tug - started their own site....

 

[jeff968]

You'll get a number of opinions on this question. Here is mine. To me you have to run the numbers to see if a timeshare is a good deal for you. We love Orlando and go there every year, on President's week, one of the busiest weeks in the year. We've been in Timeshares for 7 years now. i would never buy in Orlando. The timeshares are very nice there but the maintenance fees are high. I've been able to find full, 7 day, 2 bedroom renetals every year for between $600-$1000. True, I sometimes don't know where we'll be staying until a few weeks before our actual trip but that is when you get the best deals. The maintenance fees for most of the Orlando timeshares are around $700 annually, so why tie up my money? If I was going to purchase, you can find some much better deals on eBay but even if you can pick up a nice timeshare for $7K, it still doesn't make since if your maintenance fees are what you can get a rental for. And they continue to build in Orlando.

That being said, I do own a timeshare in Cape Cod. Here it made since for me. We travel to the cape every summer and the cape has a much smaller vacation season. Rentals are usually in the $1000-$1500 range for a two bedroom timeshare. I was lucky and found a timeshare on eBay on the cape for $4K (grandson got it, didn't want it). The maintenance fees are $400 a year so my Timeshare is actually saving me money every year.

We are happy with our destinations and visit the same locations every year so we aren't members of RCI and we don't trade. Remember, there is a few to join RCI and additional fees to trade. My two cents.

 

[spiceycat]

she wants something to trade with Disney.

Disney is not on RCI - so she needs to go with something that trades to II....

I think she is smart - most people would just buy DVC.....

I did - but I brought long, long ago when it was a good deal.

 

[jeff968]

I saw her statement of "I am looking to buy an inexpensive timeshare ".

As for Disney, correct me if I'm wrong but, isn't it true that your timeshare is NOT deeded and Disney gets it back, free of charge, after a certain number of years (40?). For that reason, I could never own there. What are the maintenance fees with DVC?

 

[littlestar]

DVC Disney is RTU (right to use) and has an expiration. Mexico timeshares are also RTU. Some people view this as an advantage and NOT a disadvantage as they don't want to own something in the future that will need to be rebuilt at the expense of them (in their old age) or heirs. I guess it just depends on how you look at it.

My advice would be to join TUG (timeshare users group) and read a lot before you buy anything. If you want to stay pretty much DVC, I would buy some points at DVC. They can be especially cost effective if you stay mostly Sunday through Thursday and are not heavy weekend points users. Plus, DVC pretty much only comes up on Interval in the shoulder season. Meaning September and January. And then you see mostly Saratoga and Old Key West studios or 1 bedrooms.

Some people have recommended buying Marriott Manor Club in Williamsburg (platinum week) and locking it off and depositing it with II. I guess the maintenence fees are pretty reasonable for a Marriott at this location.

I've been reading for months (on the tug boards - timeshare users group)trying to make up my mind on a second timeshare purchase (we already have some DVC points), but I'm trying to be careful. And in my heart of hearts, if we purchased something else, I don't know if I want to own something deeded forever. I'm too afraid of what my kids might get left with if the management company doesn't do them right or decides to rebuild the place at my estate's expense. I guess if we end up buying anything else, it might be with Marriott.

 

[spiceycat]

you have to carefully with the Marriott. Over the years some resorts that started out as Marriott - are now not....

Marriott has been known to disown its timeshares if the owners don't want to do what Marriott demands to be done.... In some cases even when the owners did what Marriott demanded - they were still disowned....

one of the owners of a marriott does not think that Marriott is through disowned - the names 5 that he thinks in the year or two Marriott will get rid of these..... You don't want to own one of these.

You want one that Marriott build and sold....but even these things can be problem.

 

[jeff968]

DVC Disney is RTU (right to use) and has an expiration. Some people view this as an advantage and NOT a disadvantage as they don't want to own something in the future that will need to be rebuilt at the expense of them (in their old age) or heirs. I guess it just depends on how you look at it.

Interesting, I never thought to look at it that way. I know my Cape Cod timeshare banks a portion of my annual maintenance fees for future work so myself or my kids won't have to worry about anything except who gets to use the unit that year. I figured this non-deeded approach is just another way that Disney makes more money. You could use the same arguement about non-deeded for owning a home vs renting (don't want to own something in the future that will need to be rebuilt) but people still prefer to own their home.

 

[littlestar]

jeff968,

I guess I'm just a little scared of timesharing in general as it hasn't been around long enough to know what happens when the building goes beyond its natural life. I guess I've had too much happen in my life in the last 3 years (my pension plan frozen, etc., it's been frozen because of Worldcom, etc., bad investments the company I work for says) I guess I don't trust management companies or corporations much these days.

At least with my own home, there isn't another company in there calling the shots on fees, etc., or whether to rebuild it and for how big and how much. That would be my heirs decision alone. You wouldn't believe how long it took me to decide on buying some DVC points (months and months). I trusted the Disney name enough finally to jump in and buy some. So far I haven't regretted it. But I've got an ending date with that so I rest a little easier. I look at it as a discount off the deluxe hotel rates that Disney charges, basically a club and not really a timeshare to tell you the truth.

 

[spiceycat]

Disney hates to give away their property....

the DD hotels and SOG both have leases for 99 years - so does the D/S.

so the DVC resorts are the same - expect the lease is for 50 years (starting).

all except SSR quit in 2042 - I will be 92 and I won't care....if I am still alive.

SSR quits in 2054.

you know timeshares are different. they can charge an assessment fee for more than what you brought your timeshare for - especially in Fl...

Disney agreeds NOT to do this - so I don't mind the higher fees (all of Orlando pays much higher fees).

they had their chance with VB - their were rumors that DVC was going to charge an assessment fee - VB got hit directly by two hurricanes. they went with their orginal agreement and did not.... but I can see a reason to sell VB to another timeshare...

Disney does have a reserve - most of the higher cost is the reserve. but Disney unlike other timeshares I can name is using it NOW. they kept the resorts up.... they don't wait for their 5, 10, 15 or 20 year plan. If something needs replacing now - they will do it - they won't wait....

anything that the timeshares uses must be paid for by the owners.... those buses and boats are expensive.... plus Disney has lifeguards at all their main pools - other timeshare don't have lifeguards period....

would I give up the buses and boats for less maintence fees - NO WAY - I love WDW transportation!!!! now the lifeguards I might - but I have seem too many little children that there parents were NOT watching - but the lifeguard was and stepped in when needed.....

some people get mad at the lifeguards because they think they should also be watching the adults... but hey if you get drunk then try to go swimming - you are an adult - that means you should be able to decide for yourself.... little kids can't. Okay back on the subject.....

oh I found that other timeshares forum
http://www.timeshareforums.com/

 

[cwnhokie]

Thank you Spiceycat, you have answered many of my questions in the past. Thanks to everyone else too! I had forgotten about the fee to use II, does anyone know what it is? I thought it was around $150, is that right? One timeshare I'm looking at right now, the price looks right, but I know we would never use the week, because it is July 4th and we have our family reunion that week and probably will forever. But it seems like it would be a decent week to trade. What do you think?

 

[jeff968]

At least with my own home, there isn't another company in there calling the shots on fees.

I hear you, but couldn't you look at the town you live in and the local government that way? If they decide to do a reappraisal of your home or raise your mill rate your taxes go up and what can you do??? If you rent, you can always leave if you don't like the cost.

So, I hear they are high but what are the annual maintenance fees for DVC? I'm curious. Thanks

 

[spiceycat]

they are by point

OKW - $4.24
BWV - $4.69
VWL - $4.61
BCV - $4.48
ssr - $3.98

that is very, very high for OKW - so if it goes up again next year I am complainting loud....

they say they have to replace the wooden floors in the GV.....

but I think they are trying to get all the DVC resorts on the same basis - but I will complaint very loud....

OKW does not have room service (which is expensive) - but BWV, BWL and BCV all do....

So I would feel I was paying for something I was not receiving.... they are also very close to the theme parks - where OKW has to rely on the buses.

there is a reason that VWL, BWV and BCV cost more - they are closer to the theme parks and have boats that go to the theme parks. plus room service and valet parking.....

there is no good reason for OKW to be so high....

so I am expecting DVC to do what it has in the pass - no increases at OKW for a couple of years....

 

[littlestar]

I hear you, but couldn't you look at the town you live in and the local government that way? If they decide to do a reappraisal of your home or raise your mill rate your taxes go up and what can you do??? If you rent, you can always leave if you don't like the cost.

So, I hear they are high but what are the annual maintenance fees for DVC? I'm curious. Thanks

I can vote them out, hopefully , if they go too far on my taxes.

Keep talking, and you may push me over the edge into buying that permanently deeded timeshare with Marriott. LOL (maybe an EOY timeshare - "every other year" just to play it a little safer).

Spiceycat answered the question on DVC maintenance fees.

I'm a big fan of Marriott's resorts. As a matter a fact, I'm staying at Horizons next month in Orlando before we move over to Disney's Old Key West.

 

[jeff968]

A few dollars a point???!!! So, how many points would I need to rent a 2 bedroom villa at a DVC resort for president's week (2/19 - 2/25 this year)? I'll multiply that by the dollar per point cost you gave me for the annual maintenance fee. And my next question, How much does it cost to purchase that many points to begin with??

If I was to purchase in Orlando we would do Marriott Cypress Harbor as we really like that resort. Marriott resale gets $18K for the "special" season weeks which covers December through May (our President's week or Easter week if we decided on April). I have seen "special" weeks trade as cheap as $6K on eBay so that is where I would shop. But, the maintenance fees are $700 per year so I'll continue renting.

 

[dtauer]

A few dollars a point???!!! So, how many points would I need to rent a 2 bedroom villa at a DVC resort for president's week (2/19 - 2/25 this year)? I'll multiply that by the dollar per point cost you gave me for the annual maintenance fee. And my next question, How much does it cost to purchase that many points to begin with??

Not sure I fully understand your question. The current rate for renting points is about $10/point. I can't quote your week, since it's in the past and I don't have my member guide with me. We are currently booked for 5 nights in June in a 2 bedroom at Saratoga Springs and that is 155 points. Multiplied out, that is $1,550 for those 5 nights which is $310/night. Seems like a lot for a hotel room, but you need to remember that the Disney Deluxe resorts start at around $200/night at Wilderness Lodge, upwards from there for the other Deluxe Resorts. These are regular hotel rooms compared to 2 bedroom, 2 bath, full kitchen, washer/dryer, 1300+ square foot villas.

To buy in, you are looking at $14k+ (minus any incentives) plus currently $616/year in maintenance.

However, once your initial investment is paid, this year you would pay around $123/night (616/5 nights).

Of course the big hit is the upfront cost and what you could have made with that money had it not been spent on the vacation club.

Hope that answers some of your questions.

 

[spiceycat]

the high season starts a couple of days before. so this covers all the spring break (except Easter and the week before - this is peak season), plus all the summer months (expect June 1-10 and Aug 16-31 - they are in a lower season)

a 2-bedroom Sun-thurs is 30 points a night, fri/sat is 73 points - so 296 points for the entire week - but only 150 for Sun-thurs....(leave on Friday)

but I generally stay offsite for the fri/sat

the point rent anywhere from $9.50 to $12 per night.

BCV and BWV are more per night - they are in demand. OKW and SSR are generally less per night - VWL is somewhere in the middle...

you can stay at BWV in a standard view same time for 32 points sun-thurs, 73 points on fri/sat - so 306 for the entire time.

the preferred view (also the same for BCV and VWL) is more - 40 points for sun-thurs, 75 points for fri/sat - so 350 for the entire time.

I like to travel offseason - January, Sept, Oct, most of Nov and Dec - 8 points a night at OKW.....now that is a bargin!!!! this is a studio 8 points sun-thurs, fri/sat are 20 or 21 (Jan, sept and dec 1-14 are 20 - the rest is 21) so for 80 to 82 points.... but I never stay a week unless I am meeting people - generally only stay 5 days so my total is 40 points....

 

[spiceycat]

the cost per point is $98 a point I think - they are going up April 1..... you would need to buy 150 points through DVC

(I brought at $62 a point - so this a heck alot more than what I paid)

so I would go resalers
www.atimeshare.com
www.dvc-resales.com
www.******************.com
www.thetimesharewarehouse.com
www.reid4florida.com
www.bidshares.com
www.myresortnetwork.com
www.monstertimeshares.com
www.redweek.com

you can buy less than 150 points from a resalers - but Disney lately has been using it ROFR on the smaller contracts.... So I would go for at least 75 points.

 

[jeff968]

Not sure I fully understand your question. The current rate for renting points is about $10/point. I can't quote your week, since it's in the past and I don't have my member guide with me. We are currently booked for 5 nights in June in a 2 bedroom at Saratoga Springs and that is 155 points. Multiplied out, that is $1,550 for those 5 nights which is $310/night. Seems like a lot for a hotel room, but you need to remember that the Disney Deluxe resorts start at around $200/night at Wilderness Lodge, upwards from there for the other Deluxe Resorts. These are regular hotel rooms compared to 2 bedroom, 2 bath, full kitchen, washer/dryer, 1300+ square foot villas.

To buy in, you are looking at $14k+ (minus any incentives) plus currently $616/year in maintenance.

However, once your initial investment is paid, this year you would pay around $123/night (616/5 nights).

Of course the big hit is the upfront cost and what you could have made with that money had it not been spent on the vacation club.

Hope that answers some of your questions.

Wow, thanks darren, but if i understand you right do you pay three times???

1)to purchase "in" at $14K
2)to rent, for your 5 days you are paying an additional $1550
3)annual maintenance at $616

Is that right??, if so, WOW!!! I've stayed at Disney resorts and they are very nice but that is a premium. Consider a Marriott timeshare.

1) Purchase deeded unit in Cypress harbor on eBay, "special" week (the best) at $7K
2) No additional "rental fee", just pick the week you want and it's yours
3) annual maintenance is $792

I understand that the Marriott resort is no Disney resort and you get the free transportation but that still seems liek quite a price difference. i do understand though that some don't consider the experience complete unless it is all Disney.