Other timeshares

[margaretCT]

I know many on this board have other timeshares, so I hope my question here is appropriate (although I do feel like I'm cheating on DVC ).

I have the opportunity to get a 2 bedroom timeshare at Club Ocean Villas II, Ocean City, Maryland, (week 14, white week) for cost of maintenace fee of $485/year, a 3 year residual of cost of $394/year, and cost of deed transfer.

I'm researching this on the RCI site and TUG and it's a little confusing, so I thought I would ask here if this seems like a good idea or a bad idea? Any feedback would be appreciated.

Thanks,
Margaret

 

[ldo]

IMHO, after being a TUG member for 10 years and owning 3 TS, my conclusion is that blue and white weeks really aren't worth it (esp. mid-Atlantic coastal) ---you can get red weeks on ebay for cents on the dollar (ex. an every other year 2 BR gold crown summer week on HHI went for $700). And if you want to sell it--you might have a hard time giving it away. Also, it is getting harder to trade thru RCI and so, I would say NO THANKS--IMHO.

 

[disney54us]

I wasn't sure what the color weeks were but the previous poster seem to know. I am very familiar w/OCMD, sounds like you are too. I would be careful of timeshare offers down there right now. In the past 5/6 years there was a abundance of new luxury condo's going up and I was not surprised when it all came crashing down on developers, this past summer when the 'bubble burst'. Don't get me wrong I would love to own something there, I just think you need to be careful and thoroughly research all of it. Check out what else is being offered to compare pricing and weeks. As much as I've always said I wanted to see snow on the sand there, and it really is a year round city with events. When we go, I need the sun and surf. Good Luck.

 

[spiceycat]

go to the site itself - and check what it would cost you to rent from the place for that week.

some of these sale week - well the maintence cost would be higher than renting it. It makes no sense to me.

so always check the price of renting it for the week you would be getting first.

 

[spiceycat]

would let it go - the rental for the week is $470 ($79 per night with a 15% discount) before taxes. with taxes it is $512.35

to close for what they are asking in maintence fees - which you would be stuck with.

http://www.defenderresorts.com/defenderresorts/lodging/ocean city/cov II/cov II.htm

you want what is charged in maintence fee to be what is paid by a non-owner to stay there one or two nights.

 

[tomandrobin]

I have the opportunity to get a 2 bedroom timeshare at Club Ocean Villas II, Ocean City, Maryland, (week 14, white week) for cost of maintenace fee of $485/year, a 3 year residual of cost of $394/year, and cost of deed transfer.

I'm researching this on the RCI site and TUG and it's a little confusing, so I thought I would ask here if this seems like a good idea or a bad idea? Any feedback would be appreciated.

Margaret

Unless that is a week you want go and use, I would not buy it.
You can rent that unit cheaper...link. Its definately not a trader and on top of that its RCI...yuck! (The RCI part is just my opinion).

Tom

 

[Twingle]

I agree with the PP's - my DH purchased RCI prior to our relationship, and it's been horrible. We've been trying to unload it for several years, no offers. IMHO, DVC is the only timeshare that "works", but that might just be because of the way we vacation.

If you're looking for vacation spots in the Ocean City area, you can rent cheaper then owning, and the maintance fees at RCI are OUTRAGEOUS.

Just my .02.

 

[margaretCT]

Wow, thank you all so much! I knew DIS would come through with good feedback! Sounds you all just saved me a big headache! I think I will pass, especially since it is not really a good time of year for me to vacation.

Thanks again.

Margaret

 

[Dean]

That's an expensive price for an off season week at a regular timeshare unless it gives you other benefits. It won't trade well. You could get a better timeshare and better week for using and trading for that or less. Keep educating yourself.