Wndham Time share. Should we?

[Zhoen]

Hi y'all,

I just heard from an Aunt who is the executor of my late Grandmother's will, and she asked if I wanted "one of grandma's wyndham time shares" and that the maintenance fees are " $100/mo or probably less."

So my inner budgeteer is screaming "No way!" but before I answered, I wanted to run it by the forum and see if anyone has any advice.

In my mind, I'll basically be paying $1200/year for an as-yet-unknown-week at an as-yet-unknown-location, or I can pay to trade points for somewhere better, if that better place is available when I want it.

Even though I'd be getting the timeshare itself for free, the maintenance fees alone are enough to put me off. A quick google and seeing how many dozens of places are on sale for derned cheap because people are unloading them to get OUT of the maintenance fees seems to back this up.

Oh, and I suppose I should add that I'm a mom of two wonderful little girls, both school-aged, so between that and my work and DH's work we have a very restrictive travel availability for vacations. We would like to travel to big-ticket locations like Europe and Australia some day, but as for stateside travel, I have access to military lodging and Armed Forces Vacation Club, and we almost never go anywhere for longer than a few days.

Advice? What am I missing?

 

[riley2008]

I think you need to find out more information. You really know nothing about this Timeshare. And what you do "know" is only a maybe.

Get more info.

 

[HM]

From what you write about your travel habits, a Timeshare doesn't sound like a good choice for you. If your Grandmother had it for some time, it's likely to be a restricted week or possibly a floating week at best. My gut tells me to tell your Aunt that you aren't interested. But, I also think you should find out more about it before turning it down. Find out exactly which resort it is to determine how hard it would be to get you there, how the week works and when it is (or find out if its on points), and what the actual maintenance fees were for the last three years.


Just so you know, I own a timeshare through Marriott with a floating week in sports season. We've had it for over 10 years. We've seen the fees rise from around $700 to nearly $1100 now. We love it and use it every year (no trading out). But it fits our travel needs well.

 

[I_heart_Tinkerbell]

Just be really sure if you choose to accept this timeshare.

It will cost you $350+ to have it transferred to your name plus any back money owed at this time. You will be responsible for maintance fess until you sell it to someone else. You can't just say in 2-3 years down the line I don't want this anymore.

Also, make sure there is no balance due on the initial purchase. What is her home resort?? Is it a fixed week or points???

Wyndham has over 40 resorts plus depending on when it was bought there may be a RCI membership fee "hidden" in the maintance. ($129 a year last i looked) they say its just included for free but it is basiclly part of maintance fee.

 

[scrapquitler]

Hi y'all,

I just heard from an Aunt who is the executor of my late Grandmother's will, and she asked if I wanted "one of grandma's wyndham time shares" and that the maintenance fees are " $100/mo or probably less."

So my inner budgeteer is screaming "No way!" but before I answered, I wanted to run it by the forum and see if anyone has any advice.

In my mind, I'll basically be paying $1200/year for an as-yet-unknown-week at an as-yet-unknown-location, or I can pay to trade points for somewhere better, if that better place is available when I want it.

Even though I'd be getting the timeshare itself for free, the maintenance fees alone are enough to put me off. A quick google and seeing how many dozens of places are on sale for derned cheap because people are unloading them to get OUT of the maintenance fees seems to back this up.

Oh, and I suppose I should add that I'm a mom of two wonderful little girls, both school-aged, so between that and my work and DH's work we have a very restrictive travel availability for vacations. We would like to travel to big-ticket locations like Europe and Australia some day, but as for stateside travel, I have access to military lodging and Armed Forces Vacation Club, and we almost never go anywhere for longer than a few days.

Advice? What am I missing?

I think you need a LOT more information. Okay, so suppose the $1200 in maintenance fees is accurate: Is there a cleaning fee? A reservation fee? or any other fees on top of that? Even if there are zero other fees, that's $1200 a year you'll be paying for your week. Is it a week you'll actually use? If not, how much to trade to a different week or a property you like better?

THe biggest question to ask is "How much would I pay per night to stay here if I didn't own it?" If the answer doesn't approach almost $200 per night, it's a bad idea.

That said, My brother owns a couple time shares, and he LOVES them. His wife/dd and him use it all the time and say it's a good deal for them. We looked into one, and thought it was a lousy deal FOR US. Personally, I'd rather have the flexibility to go where/when I want. YMMV.

 

[sdmom]

Hi,
you may want to check out timeshare user group. (www.tug2 dot net).
It is like the DIS, but for timeshares.
goodluck!

 

[DawnM]

I would not. Even if it is $800/year (typical even for the older units from what I am reading), it is an awfully expensive week. And then adding on $200 or more to go elsewhere is ridiculous.

 

[wed100105]

I'd find out a ;ot more. If she had vip status it may be very beneficial to you. We love our Wyndham ownership. BTW, I'm sorry for the loss of your gram]ndma.

 

[GrnMtnMan]

Hi,
you may want to check out timeshare user group. (www.tug2 dot net).
It is like the DIS, but for timeshares.
goodluck!

Ditto. This is the best place to get good information.

I'd find out a lot more. If she had vip status it may be very beneficial to you. We love our Wyndham ownership. BTW, I'm sorry for the loss of your gram]ndma.

Definitely fine out more. What resort? Fixed or floating week? size of unit? $1,200 may sound like a lot, but it might be a valuable in the rental or trading market.

 

[HeatherC]

RUN! Seriously...you can rent at other people's weeks for much much less than those maintenance fees.

As an example, we rent Wyndham Bonnet Creek for a week in a two bedroom for anywhere from $500 to $700 a week.

And..you are not tied into those maintenance or exchange fees to infinity and beyond.

 

[disney*mom*82]

We are not whyndham owners but have some good friends that are, have stayed at Whyndhams several times and sat through a time share presentation recently. I can say that you may want to sit down with someone from wyndham (over phone is fine) and figure out what it is that this is. I mean it is probbly not just a "week somewhere" it is points and you can manage the points to be x amount of days at this great place, or x amount of days more at this good place, etc. And, if you are a part of and bank with their partnering company, RCI, you can even use these points for WDW!! We decided that no we didnt want to buy into the time share. Now, if it were just being given to us, it would be very possible. And on the other side, like you said, on e*** you will see timeshares for sale for little to nothing because ppl want out of them. You can even book weeks here and there on ebay for fairly cheap so it wouldnt be worth keeping and selling out weeks you dont want. KWIM.

Ok, so now I hope I havent confused...but my advice is to check it out with a Rep from Wyndham before you decide. GL

 

[aclov]

Like the above poster, my good friends own there and just got back. They love it and totally rave about it. Maybe see what your exchange options are. It seems to be a good name and decent reputation and I would also recommend the TUG board too.

 

[Zhoen]

Thanks you guys!

I asked my husband about it, and he agreed that even if it is a red week at a fabulous location within driving distance... we aren't going to use it enough to make it worthwhile. My grandparents got into timesharing in the early days, and bought a lot of "blue" weeks with the intention they would trade for other weeks/other locations, and then their health started to go.

So we've decided to pass on this particular chance and save the money that would have gone into maintenance fees for our "big vacations" someday. Disney next May is fully budgeted and will be paid for before the new year... next stop? England/Ireland in 2014!!!

Thanks again, y'all!!!!