OT - Carriage Hills RCI Timeshare: should I buy ?? - Opinions please! Sorry, LONG!

[riu girl]

A close family friend wants to sell his timeshare week:

Carriage Hills, Barrie, ON - RCI gold crown - Floating week (I don't know the weeks but I think it includes summer weeks)
price: $1000 Cdn plus whatever closing costs/transfers fees involved
Maintenance Fees: $250- $300 per year
Every second year usage (2 bedroom sleeps 8) OR
Every year usage (1 bedroom, full kitchen, sleeps 4)


We have stayed at Carriage Hills two times and love it: amazing nature trails, indoor/outdoor pool, great playground, close to home.

We are thinking about buying it from our friend since it would guarantee us a great summer vacation each year for only $250 - $300 per year (maintenance fees).
We probably wouldn't join RCI right away since this would be a great yearly summer vacation, therefore, could save $ by not buying the RCI yearly membership fee.
I also have a relative who owns RCI and, therefore, she can arrange any RCI extra and last call vacations for us.

My only problem:
We don't have $1000 right now to purchase since every extra $ I have right now, I am saving for our Florida vacation (in December). But DH thinks we could simply write a cheque on our line of credit (which is supposed to be for emergencies only!) and pay it back once home mortgage (our only debt) is paid for (home mortgage will be paid for in less then 2 years).

Me being the practical/CHEAP person I am, think we shouldn't buy this timeshare since I don't have cash in hand to do so at this present time.
BUT DH thinks maybe we should go for it since it would guarantee us a great summer vacation every year and would get us into the timeshare game CHEAP. And when we tire of going to Carriage Hills yearly, we could join RCI and start trading this week for great vacations worldwide.

What do you think?
Should we buy/not buy?
And why?

Also, right now the maintenance fees on this unit are only $250-$300/year. With possibly buying this timeshare unit, could Carriage Hills raise these fees on us (as new owners)??? Our family friend bought this unit years ago right after they were built so I assume that is why fees are low??

Any thoughts on this would be greatly appreciated.
Thank you

 

[FayeW]

I think that you husband is right, it seems like a great opportunity.

If you decide against it, and your friend doesn't have anybody else in mind, I would love to take advantage of that offer.

 

[MikeJ]

The first question I would ask is "What season is it?". A quick look at TUG's (Timeshare Users Group) website (http://www.tug2.net) shows two EOY resales at Carriage Hills - ranging from $6000-$8500 for contracts in Red season with the maintenance fees quoted as $CA595-650/yr.

If your friend is quoting fees half that amount, I'm guessing theirs is not Red but either Blue or White - which are less desirable seasons, particularly from an exchange perspective. Regardless of whether you're looking at this as a vacation destination or to potentially exchange down the road, I'd suggest you do your homework.

The Canada discussion board on the TUG website has a few Carriage Hills owners on it - you might start by asking many of these same questions over there. TUG is a great resource for generic timeshare questions.

- Mike

 

[Pokemom]

You are only getting every 2nd year usage, that's why the maintenance fees are about half those listed on the resales. Maintenance fees are set by the Condo Board for the resort each year depending on what needs to be done. You can expect the fees to rise a little each year for normal maintenance and if there is something extra being done (like replacing all the furniture in the units) there is usually an extra assessment for a few years, until it is paid off. Just like with your own house, as an "owner" you are responsible for paying the costs involved in running the resort. You shouldn't expect the maintenance fee to rise dramatically however. (Unless something unexpected happens - we own in Florida and our resort was hit by the hurricanes 2 years ago, so we had to pay an extra $400 US to pay the insurance deductible)
Timeshares can be good if you use them. Because you are only buying every 2nd year usage, it is not such a big commitment and you don't have to go there every year. It is convenient if it is not too far from you and you can drive there for your vacation. You should also be aware that if you want to trade for other resorts, there are fees involved for trading.

 

[KerriMc]

I think that is a good deal myself ... friends of our just bought a week similar to yours for $4000. It was from a divorcing couple who wanted to get rid of it. I do believe they are now part of RCI because they have already gone to Arizona (for something like 200 -300) and they are going to North Carolina in May for the same price. They are looking for another week to go along with this.

I was looking in the RCI book while on our timeshare presentation at OLCC and took a peek at Carriage Hills and thought it was all red week time, but I could be wrong. (just like OLCC is red week all year). So check this out ... use the darn line of credit!!! (sorry ... that has always been our mantra and it did get us in a bit of trouble ... but only $1000??? ... to me that is good). If you don't take it ... forward this my way ok??? (dh would be thrilled!)

Kerri

 

[riu girl]

Thanks so much for all the information on this subject.

I just looked at rci.com and this is what is listed for Carriage Hills (#4200)

Season Information
Red: May 06 - November 11
December 16 - April 01
White: April 01 - May 06
November 11 - December 16

My friend always goes during the summer, therefore, I assume he has a red week. But I will check with him. Assuming he has a red week, I assume this unit would have fairly good trading power?

Thanks again for all info. provided thus far.

Anymore thoughts anyone??

 

[siobhan1997]

It is a great deal as long as the "red" week is a great "red" week.
We love timesharing. It forces us to take that 2 week vacation every year.

 

[garytam]

That is a really good deal, I paid $6,000 for my Carriage hill week. In addition to the week, you can always book bonus time (depends on availability) at really great rate.

 

[riu girl]

garytam (or anyone else) :
Would you mind telling me a little more about bonus time?
My friend mentioned to me that basically it involves booking weeks/weekends at the last minute directly through Carriage Hills.

We would definately be interested in extra late spring/summer weeks/weekends.
Do you have any idea of an approximately how much an extra week or weekend would cost if available (1 bedroom full kitchen unit) during the spring or summer? I assume these weeks would be more expensive during the summer months?

 

[garytam]

The bonus time are empty units that no one book. You can only book 7 days in advance and if I remember correctly, one bedroom unit is about 50 dollars, studio was about $35 per night, usually you get the phase 1 units (a bit smaller). You have to be a resort owner to use the bonus time and they did asked for ID when I check in.

 

[riu girl]

Thats a great price.
Thank you for the information.