Other Timeshares?

[Wingnut330]

Hello all,

We are DVC members, but I'm considering adding another timeshare to our portfolio - perhaps from a major hotel chain. Anyone else do that or do you folks typically just add on at DVC?

 

[Dean]

Hello all,

We are DVC members, but I'm considering adding another timeshare to our portfolio - perhaps from a major hotel chain. Anyone else do that or do you folks typically just add on at DVC?

I've often said that DVC plus another timeshare or another timeshare over DVC was the way to go for the overall benefit of all vacations for many people. No one size fits all and there are many variations for non DVC timeshares. Generally I suggest one look at where they want to go, their personal preferences/expectations, unit size needed, frequency and budget. For those with an East Coast focus, Bluegreen and Wyndham are often the best value for many, Marriott for some. Worldmark and Shell are often great choices for the West. Diamond is a good choice for HI and Europe in many situations. Marriott, Hilton, Hyatt and Starwood are a cut above but are more expensive but can be great choices. Unless one is going to average at least a week a year non DVC, I wouldn't fool with it just say for EOY. For several weeks/units a year it is often a great option. There are many other variations including buying an RCI points resorts or simply buying something for exchanging with II or RCI. If I were starting from scratch likely the only thing i'd change in my portfolio would be to have less DVC.

 

[SpaceMountain77]

We currently have enough DVC points for 3 weeks a year. I have not explored other options because I just do not have enough vacation time to add another week elsewhere. Moreover, we have talked about HHI and VB vacations, but still have not explored Disney's beach resorts.

 

[JimMIA]

Specific to Wyndham, there has been somewhat of a change in the last few years since I've been an owner.

In prior years, Wyndham was very strong east of the Mississippi, and in Hawaii.

However, in recent years there has been an obvious attempt to add more availability west of the Mississippi. Today, there are a total of 86 Wyndham Club resorts in 51 locations, broken down as follows:

• Continental US, east of the Mississippi - 43 resorts in 21 locations
• Continental US, west of the Mississippi - 30 resorts in 25 locations, plus a newly-constructed resort opening later this year in Avon, CO
• Hawaii - 11 resorts in 4 locations
• USVI - 2 resorts on St. Thomas

For specific information on Wyndham resort locations, go to www.wyndhamvacationresorts.com and click on the "Explore Our Resorts" button on the right side of the home page. Look ONLY at the red dots on the map -- those are Wyndham Club resorts available to all Wyndham owners. The other dots are just sales fluff designed to make a large system appear even larger than it really is.

Some of that westward expansion has been accomplished by acquiring unsold inventory at some Worldmark resorts, which are also owned by Wyndham. Even prior to that transaction, Wyndham owners could get limited availablity at a few Worldmark resorts.

Wyndham also recently bought the Shell system, but that inventory is separate from the core Wyndham system and not available to Wyndham owners. Wyndham also has some kind of involvement with Jimmy Buffet's Margaritaville resorts, but that is not available to all Wyndham members and I don't know much about it.

The other recent change in strategy for Wyndham has been adding resorts in major cities -- Canterbury in San Francisco, Midtown 45 in NYC, and Grand Chicago Riverfront.

 

[JimMIA]

Hello all,

We are DVC members, but I'm considering adding another timeshare to our portfolio - perhaps from a major hotel chain. Anyone else do that or do you folks typically just add on at DVC?

One thing you should know if you decide to buy another timeshare system. Unlike DVC, many fine timeshares can be purchased for as little as $1 on eBay, sometimes even with free closing.

Three years ago, I bought a 501K point Wyndham contract on eBay for a little less than $2,000 including all closing costs and transfer fees. It's hard to compare system to system, but based on what 501K points will get us in lodgings, I estimate it's equal to 600-700 DVC points.

 

[Deb & Bill]

We have one flex week at a HGVC Affiliate resort on Marco Island. It's not something we ever plan to trade out and will use it at that location only. But it's a nice complement to a short DVC stay at WDW. So we'll get one longer stay (a week or more) at WDW and a shorter stay (five nights or so) plus our Marco Island week each year.

 

[Dean]

We have one flex week at a HGVC Affiliate resort on Marco Island. It's not something we ever plan to trade out and will use it at that location only. But it's a nice complement to a short DVC stay at WDW. So we'll get one longer stay (a week or more) at WDW and a shorter stay (five nights or so) plus our Marco Island week each year.

Eagles' Nest? If so, what's the refurbishment costs there? I seem to recall hearing they redo the units every 4 years and charge it directly rather than as part of the dues.

 

[Deb & Bill]

Eagles' Nest? If so, what's the refurbishment costs there? I seem to recall hearing they redo the units every 4 years and charge it directly rather than as part of the dues.

Charter Club. They have a great management team and board.

 

[kbeam]

We own 2 other weeks...one at Starwood to trade (floating), and one with Hilton in Hawaii (we go there every other year). We bought the HGVC in Hawaii for $300 on Ebay.

 

[Dean]

Charter Club. They have a great management team and board.

Thanks.

 

[SpaceMountain77]

Unlike DVC, many fine timeshares can be purchased for as little as $1 on eBay, sometimes even with free closing.

I have seen some timeshares offered for as little as $0.01 with all closing costs paid by the seller. One even included the current year's maintenance fees!

Are some of these offers truly a steal or too good to be true?

 

[chalee94]

I have seen some timeshares offered for as little as $0.01 with all closing costs paid by the seller. One even included the current year's maintenance fees!

Are some of these offers truly a steal or too good to be true?

nah, usually they are cheap for a reason.

take this hilton head marriott listed on ebay for a dollar:

ebay link

this location is off the beach for one thing. but the big issue is that it locks you in for annual dues of $1,100 for a fixed week during a super-low demand period (late jan/early feb).

if you really wanted to visit hilton head in early feb, you would most likely be able to rent for less than $1100...so it's a nice enough resort but the timeshare has no value.

and while it might have the marriott preference in interval international (II), it's not going to have much trade value overall as a winter week at a beach location.

so i wouldn't consider it a good value, even if it's free...

 

[bwvBound]

We are DVC members, but I'm considering adding another timeshare to our portfolio - perhaps from a major hotel chain. Anyone else do that or do you folks typically just add on at DVC?

We have other timeshare and love them. We use DVC for DVC stays ... but the others give us many additional options for both local travel, day-use, trading, etc. There is much fun to be had with mix-and-match timeshare.

 

[McCrae]

nah, usually they are cheap for a reason.

take this hilton head marriott listed on ebay for a dollar:

ebay link

this location is off the beach for one thing. but the big issue is that it locks you in for annual dues of $1,100 for a fixed week during a super-low demand period (late jan/early feb).

if you really wanted to visit hilton head in early feb, you would most likely be able to rent for less than $1100...so it's a nice enough resort but the timeshare has no value.

and while it might have the marriott preference in interval international (II), it's not going to have much trade value overall as a winter week at a beach location.

so i wouldn't consider it a good value, even if it's free...

This is a great point.... With many time share contracts the annual dues become so expensive relative to what you can buy as an alternative that people become desparate to sell them. Atleast with DVC you know you have a strong resale value and points rental market.

 

[JimMIA]

Atleast with DVC you know you have a strong resale value and points rental market.

Nice theory, and you can come up with anecdotal examples of people who bought in 1993 who made profits selling in 2006.

I just looked back at my two sales. I bought OKW resale in 2005, sold in 2011, and lost only 27.9% I bought SSR direct in 2006, sold in 2010, and lost 37.7%.

(The resale purchase was an average deal, priced at the market. The direct purchase was one of the rare promotions by DVC that actually was a good price. Both were sold at high prices in the run-up to the resale restrictions in 4/2011.)

You could call that "strong resale value"...but only compared to someone who purchased another system direct for an exorbitant price and sold it for next to nothing.

My accountant seems to think that a 25-40% loss in 6 years is not very good.

But, it could certainly be worse...

 

[JimMIA]

I have seen some timeshares offered for as little as $0.01 with all closing costs paid by the seller. One even included the current year's maintenance fees!

Are some of these offers truly a steal or too good to be true?

There is no way to answer this, because you're looking at the wrong things. The cost of the timeshare is not the determining factor.

First, you need to thoroughly investigate the concept of timeshares generally and determine if timeshare ownership is the best solution to vacation lodging for your family.

If so, you need to figure out what kind of vacations you are likely to take over the next 10-20 years, and also where you would like to go.

Then, you need to identify one or more timeshare systems who offer you destinations where you want to go.

Then -- and only then -- you need to look at the money part...considering both acquisition cost and annual costs.

Do all that and you'll have an idea whether a particular "deal" is really a good purchase for your family.

 

[Dean]

nah, usually they are cheap for a reason.

take this hilton head marriott listed on ebay for a dollar:

ebay link

this location is off the beach for one thing. but the big issue is that it locks you in for annual dues of $1,100 for a fixed week during a super-low demand period (late jan/early feb).

if you really wanted to visit hilton head in early feb, you would most likely be able to rent for less than $1100...so it's a nice enough resort but the timeshare has no value.

and while it might have the marriott preference in interval international (II), it's not going to have much trade value overall as a winter week at a beach location.

so i wouldn't consider it a good value, even if it's free...

I would agree on that listing but I think the idea that you get what you pay for with cheap timeshares is very often wrong. Some timeshares are cheap and others aren't. Listing prices have no meaning, I've seen many items listed for retail prices when you could literally buy them for almost nothing and others that were cheap with significant value. Let me give you a few examples of purchases I've made.

Aruba 5 star week 26 (4th of July most years) 3 BR double L/O (two 1BR & a studio) for $3K including the transfer fee and free dues year 1 and rented that week for $1800 so $1200 total.
Just this past fall and winter I added 2 weeks to our Bluegreen account simply by paying the transfer fees. These were both week 28 two BR at a resort in MB that's in both II & RCI and is top rated in both.
I bought fixed weeks in Aruba and converted them to Bluegreen points total OOP about 12¢ a point inclusive of all fees and costs and they are all qualified points.
I've seen many top Marriott's go for well under value esp for Orlando, Branson and HI.

Timeshares are a lot like collectibles in that they have a specialized market that's often not well represented by market forces. One has to be educated and be willing to walk away from a given deal.

This is a great point.... With many time share contracts the annual dues become so expensive relative to what you can buy as an alternative that people become desparate to sell them. Atleast with DVC you know you have a strong resale value and points rental market.

Sometimes, but DVC is about 1/4 to 1/3 higher yearly than a comparable timeshare off property. The difference is even greater when you add in the initial buy in. I don't think it's possible to make blanket statements about either non DVC timeshares or DVC without at least some qualification. My cost to trade into DVC is still a fraction of the cost using my owned points even with paying the exchange fee and $95 resort services fee. I'd say that overall most timeshares can be had far more cheaply than DVC up front and in most cases are cheaper yearly as well. Ultimately it comes down to what you're getting and how you'll use it. DVC is a horrible choice for non DVC trips but is great, albeit expensive, for Disney trips.

I find the idea that some seem to have of DVC being great and everything else bad as simply wrong. DVC has it place as do many other options. For the things that could work for a given person, it often then comes down to price.

 

[Dean]

I have seen some timeshares offered for as little as $0.01 with all closing costs paid by the seller. One even included the current year's maintenance fees!

Are some of these offers truly a steal or too good to be true?

I agree with Jim, you figure out what works for you then what a reasonable price is both up front and yearly. There is often a huge economy of scale with timeshares, esp points systems. Many things for free aren't worth anywhere near that and some things for more are a bargain. While I listed a few of my better purchases non DVC, likely the more interesting list is the one's I let get away. These would include Marriott Aruba weeks, the 3 BR owners week Xmas at Monarch on HH and a recent OF Grande Ocean Gold week that I simply didn't have the liquidity to consider.

 

[bom_noite]

I agree with Jim, you figure out what works for you then what a reasonable price is both up front and yearly. There is often a huge economy of scale with timeshares, esp points systems. Many things for free aren't worth anywhere near that and some things for more are a bargain. While I listed a few of my better purchases non DVC, likely the more interesting list is the one's I let get away. These would include Marriott Aruba weeks, the 3 BR owners week Xmas at Monarch on HH and a recent OF Grande Ocean Gold week that I simply didn't have the liquidity to consider.

We recently got a small windfall and are thinking about expanding our Florida Kingdom. We live in Atlanta - so - is easy for us to get down for a few days week. This is something we want to do more of.

Obviously a DVC Owner and I can go deeper with them. Reaching out to Dean or anyone else. What company / property would you recommend:

1) Should be a beachside site in Florida.
2) Most likely will never use Weeks/Points to trade out.
3) Preferably many different properties in FLA.
4) Affordable and highly regarded.

Hope this makes sense.

Thanks all.

 

[Dean]

We recently got a small windfall and are thinking about expanding our Florida Kingdom. We live in Atlanta - so - is easy for us to get down for a few days week. This is something we want to do more of.

Obviously a DVC Owner and I can go deeper with them. Reaching out to Dean or anyone else. What company / property would you recommend:

1) Should be a beachside site in Florida.
2) Most likely will never use Weeks/Points to trade out.
3) Preferably many different properties in FLA.
4) Affordable and highly regarded.

Hope this makes sense.

Thanks all.

A disclaimer I always try to convey is one size does not fit all. From Atlanta and interpreting your other requirements I'd consider buying a Marriott in the FL Club, Wyndham (a number of good options) and Bluegreen. Wyndham and BG cover MB & Daytona. Wyndham is better for South FL but BG has added Sarasota. Marriott will be higher quality still but more difficult to book in this way but has priority trading in II. BG also has Savannah and Charleston along with St. Augustine area (World Golf Village). All do Orlando very well to stretch your DVC points. Personally I'd look at HH Marriott from Atlanta for the Beach if I didn't plan to trade it, maybe Gold season at Grande Ocean.

My suggestion is to decide what you want and where you want including unit size. locate & quality. Look through the directory for II & RCI for those areas. Specifically look at the resort systems I mentioned above to see if they fit your needs. Basically BG will likely give you the most value overall, Wyndham the most choices and Marriott the highest rated resort choices. There are many other options still including Hyatt and Hilton among others. Wyndham has the resort down the road from you at Villa Rica.