Timeshare Purchase=Happy

[reagan75]

Hubby and I have debated about purchasing a timeshare for some time. We have used my aunt's in Eureka Springs, AR for several years (every other year). It's a great family place on the lake and there is lots to do. We had the opportunity presented to us to buy a unit the company just repo'd. We got week 26 (late June) for $2000.00 including closing costs. We just pay the annual fee of $400 for housekeeping and maintenance. It is a deeded property to pass on to our kids. We decided to go for it! It is a 4.5 hour drive so we can have a summer place to go for a week each year.

 

[js]

Hubby and I have debated about purchasing a timeshare for some time. We have used my aunt's in Eureka Springs, AR for several years (every other year). It's a great family place on the lake and there is lots to do. We had the opportunity presented to us to buy a unit the company just repo'd. We got week 26 (late June) for $2000.00 including closing costs. We just pay the annual fee of $400 for housekeeping and maintenance. It is a deeded property to pass on to our kids. We decided to go for it! It is a 4.5 hour drive so we can have a summer place to go for a week each year.

Wondeful! Even better your purchased resale!

I own a 3 bedroom at Orange Lake Country Club in Orlando and a 3 bedroom at Spinnaker in HHI. I also own 420 DVC points so we t/s often.

I would suggest, now that you are a t/s owner, to join: tug2.net
It is a timeshare forum, just like the disboards with many knowledgeable people. There is a fee, but it is minimal and the honest reviews as well as forums are wonderful.

Congratulations!

 

[HM]

We own a floating week on HHI with Marriott. We love it. We've vacation every year at our home resort (even dropped paying II since we weren't using them) since 1999. Enjoy your yearly vacation!

 

[cjnix29]

Enjoy it! We are happy timeshare owners too! So long as you know what you bought, know how to use it, and didn't pay too much, it's a great thing!

 

[Belle1962]

Congratulatons!!!! You will enjoy being a t/s owner!!! It was the best investment I ever made.


I bought a timeshare (red week sleeps 6, deeded) abut 11 years ago for $300.00 --yes three HUNDRED. It was an older couple just wanting to get out of it as the kids were grown and they didn't use it (they had 4 weeks banked in RCI they offerred to let me buy also--I passed on those)

I never regretted that purchase. I have never been to this resort but have used it to exchange in Orlando (a LOT ) Ocean City, MD and Myrtle Beach SC.

I am now in the same position as the previous owners and am getting the paperwork together to transfer the title to a new owner. I plan to list it on craigslist later this month and am undecided if I am going to charge this year's maintenance fees or leave it to the new owner if they want me to pay the fee for 2011 (and I have use of it) or if they want to pay the fees. I am hoping they want to pay the fee--since that is the only "fee/cost" they would have. And I kinda like the idea of paying it back and doing another family the same favor someone did for me.

Timeshare is a wonderful way to vacation, as long as you understand how it works (the earlier you reserve the better) and do your homework on the resorts.

To anyone considering t/s: don't be discouraged by all the negative talk about t/s. But also--never buy from the developer--go to the resale/secondary market. Never pay full price!

 

[Sinderelly]

Does anyone know where to find a reputable person/company to sell a timeshare? DH has a Bluegreen one with alot of points. It's from his previous marriage so he doesn't want it. If he can sell it we can get DVC

 

[Janet Hill]

Does anyone know where to find a reputable person/company to sell a timeshare? DH has a Bluegreen one with alot of points. It's from his previous marriage so he doesn't want it. If he can sell it we can get DVC

The rule is never pay a company upfront to sell your timeshare: your timeshare will not be sold and you will be out the money.

Check out ebay and you will see that you most likely not get very much for your points and certainly not enough to fund a DVC purchase. Since BG points trade through RCI and DVC does as well you could always trade in. You may want to check out http://www.tug2.net/ and learn more about how to effectively use your points.

Bluegreen has some very nice resorts and the points are good traders.

I own a very small number of DVC points. I bank forward and borrow back to get 5 nights every 3 years, but trade into DVC on my off years: it's cheaper.

This August we will be staying in a 2BR at Beach Club Villas on a trade.

 

[rvchat]

The problem has been (for our family) that we got a good price INITIALLy, but the maintenance keeps going up. Sometimes, quite a bit.


It's cheaper to just rent places these days.


And does any one else find the process of banking, trading and exchanging very complicated? We did.

 

[Janet Hill]

I don't find the process of banking, trading, etc a problem, and in fact I kind of enjoy the thrill of the hunt.

For those who typically only travel to Williamsburg, Branson, and Orlando, it's true just rent it's cheaper. These are places are overbuilt with timeshares and you can always rent cheap. But if you want to travel to more exotic spots then that's not typically the case.

It's also a lot easier to effectively manage costs if the timeshares you own are within a points system (Diamond, Bluegreen, Wyndham) or another internal trading system (i.e. Marriott). Then you don't always have to use a trading company.

It all depends on what you want and how you travel whether it's better to always rent or to own.

 

[reagan75]

What we bought is a set week each year. No points system.

 

[cjnix29]

Does anyone know where to find a reputable person/company to sell a timeshare? DH has a Bluegreen one with alot of points. It's from his previous marriage so he doesn't want it. If he can sell it we can get DVC

Don't be disappointed if you can't get much money for it. We own bluegreen and love it, but it's not worth a lot to sell. If you are just interested in getting out from under the maintenance fees, you will be more realistic. Check out the yahoo bluegreen group. There is a guy there by the name of boca bum, Jim. He does resales, totally legit. His company is timeshare kahuna or something like that. We bought points from him. If you want further info, pm me. I get no kick back from him, honestly, it was just a good transaction. Lots and lots of owners on the yahoo group have done business with him.

Good luck! But we love our bluegreen. Our ownership is at Big Cedar in Branson, which is a fantastic resort. You can now use RCI to get DVC with your points. If you can't get what you want selling them, you may want to look into that.

 

[Trinity524]

I just bought a Wyndham TS on ebay. I bought 249,000 points for $600 including closing closts. The home base is in Daytona, (We have family in Flagler Beach), and our main. fees (including taxes) is a little bit higher than 100 a month. We definetely feel this is a value for us as we have no family in TX, and they have a timeshare every place that we have family. The bid actually ended at 51 dollars, and the rest was closing costs. Hope this helps someone!

 

[DawnM]

I hope you enjoy it.

it isn't something that would be a good buy for our family, but my best friend likes hers.

Dawn