Why would I want to buy when I can rent?

[pcgirl54 Senior Member Find all posts View Profile Close pcgirl54]

Just had this discussion with DH!

Had I not owned a timeshare I would not have gone to Maui because of the cost. I traded into the Westin which was $800 a night for my $582 MF plus the $149 exchange fee= $731.

I have been to places that I could not have afford like Harborside Atlantis in the Bahamas and lesser resorts that were great but $300 -$400 a night.

I bought wisely and I bought resale.

Having said that there are condos depending where and the time of year that you can rent for $700-$1000. No worries and no fees. In that instance it would not be worth it to buy but you are renting from an unknown factor. Some rentals you need to bring sheets,beach towels etc. In a TS that's all there. If you own you know what you are getting. In any case I read the reviews on two travel boards and trip advisor.

There are also suite type hotels some with free breakfasts.

After staying in a 2 bd or 1 bd with a kitchen and washer/dryer I do not want to stay in a small hotel room that is cramped with no place to go to like a living room or balcony to read when the kids or husband are sleeping. For a quick weekend escape we do but I try to stay at a hotel suite like Residence Inn.

I would start renting condos and see what you think about having the extra space.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Timesharing is like Big Game Sports fishing. If your objective is to get a Mahi Mahi dinner, most are better off going to a seafood restaurant and buying one. That is like renting a timeshare.

If, however, you like the sport of deep sea fishing, then the thrill of the hunt is as much fun as eating the meal. And, when you get proficient at it, the spoils are tremendous. The same thing is true with timesharing.

Personally, I rent a few units for my own needs, but I can get far better deals by owning. In other words, I am proficient enough at catching Mahi Mahi that I pretty much eat it all the time for free.

[Lisa P Senior Member Find all posts View Profile Close Lisa P]

Same resort year after year seems a little boring to me, and if for some reason times are tough, we can keep our money and not go anywhere!

There's the flip side to this... with our timeshares, we don't have to stay home when times are tough! MFs are prepaid and it's easy to come up with an exchange fee for a trade within a short drive of home. There have been times when we would have had to cancel if it meant $700-$1000 or more just for lodging, plus other vacation expenses. A week at the beach or in the mountains doesn't have to be expensive when you can eat in your condo and it's still so much better than staying home!

We're not bound to the same resort year after year, with points and RCI/II trading.

[raterus Junior Member Find all posts View Profile Close raterus]

Timesharing is like Big Game Sports fishing. If your objective is to get a Mahi Mahi dinner, most are better off going to a seafood restaurant and buying one. That is like renting a timeshare.

If, however, you like the sport of deep sea fishing, then the thrill of the hunt is as much fun as eating the meal. And, when you get proficient at it, the spoils are tremendous. The same thing is true with timesharing.

Personally, I rent a few units for my own needs, but I can get far better deals by owning. In other words, I am proficient enough at catching Mahi Mahi that I pretty much eat it all the time for free.

And that was what I was hoping to do, like I said, I'm not interested in reserving 13 months in advance, but if I could use a cheap timeshare to trade into a good property on the off season on one of the last minute offers, I'd be all for that.

What I was running into was the cash needed to do this, from what I understood about RCI, you'd have to pay some exchange costs, and perhaps just pay cash outright for the vacation. Add that to the maintenance fees and whatever I might be paying a month to buy the timeshare and it just wasn't worth it to me!

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

And that was what I was hoping to do, like I said, I'm not interested in reserving 13 months in advance, but if I could use a cheap timeshare to trade into a good property on the off season on one of the last minute offers, I'd be all for that.

What I was running into was the cash needed to do this, from what I understood about RCI, you'd have to pay some exchange costs, and perhaps just pay cash outright for the vacation. Add that to the maintenance fees and whatever I might be paying a month to buy the timeshare and it just wasn't worth it to me!

It really isn't that hard if you are a true timeshare addict and really learn to play the game. I figured out how to vacation for free in my first few months of timesharing. But, I am an extreme, 5 sigma case of a very sick person. It's an illness I can't control.

I saw that Hyatt Aspen week go up this morning and now I am trying to figure out how to get back to Colorado in Oct. That is sick.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

And that was what I was hoping to do, like I said, I'm not interested in reserving 13 months in advance, but if I could use a cheap timeshare to trade into a good property on the off season on one of the last minute offers, I'd be all for that.

What I was running into was the cash needed to do this, from what I understood about RCI, you'd have to pay some exchange costs, and perhaps just pay cash outright for the vacation. Add that to the maintenance fees and whatever I might be paying a month to buy the timeshare and it just wasn't worth it to me!

As an example RCI Points can grab some GREAT last minute deals for +/- $300/week INCLUDING the exchange fee. It's a matter of finding a cheap resale to enter the game.

and THIS is the place to learn the "get started part".

I think you will find most of us are thrilled with our ownerships of all types and flavors. The reason being that we have learned the nuances and get the very most for our money.

We have a lot of "specialists" on this site representing almost all the clubs. I have found that as in most walks if life I do not have to KNOW a system but I need to know where to GO for the information.

Wyndham, BlueGreen, DRI, RCI, II, mini-systems. They are all here as well as the Disney, Marriotts, etc.

Bear in mind that the sytems evolve and change constantly as do your vacation needs over time. Finding the right one is the biggest challange.

[raterus Junior Member Find all posts View Profile Close raterus]

As an example RCI Points can grab some GREAT last minute deals for +/- $300/week INCLUDING the exchange fee. It's a matter of finding a cheap resale to enter the game.

Where would be a good place to search for the cheapest resale that gets me in, and I'm talking cheap too! If I'd have to pay $300 for the actual vacation through RCI, I wouldn't want to pay more than $300 a year in maintenance fees for this resort.

Also, are there any guarantees that I'd even be able to find a property available when I want to vacation (assume myrtle beach in early Sept). My concern with buying is there wouldn't be any last call availability and I'd be up a creek for that year!

[brucecz Moderator Find all posts View Profile Close brucecz]

Some of us who have only bought RESALE and get prime tiime vacations in great location in units with a lot of amenities and still make a profit by renting to people like the OP.

Bruce

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Where would be a good place to search for the cheapest resale that gets me in, and I'm talking cheap too! If I'd have to pay $300 for the actual vacation through RCI, I wouldn't want to pay more than $300 a year in maintenance fees for this resort.

Also, are there any guarantees that I'd even be able to find a property available when I want to vacation (assume myrtle beach in early Sept). My concern with buying is there wouldn't be any last call availability and I'd be up a creek for that year!

There are a lot of hedging strategies that you can employ. One is to book a back up with a resort group that has no penalties for cancellation. Then, when you see what you want, cancel the unit you have on hold and take the better trade.

Or, if you are truly sick, like me, you quit your job and chase the exchange.

[raterus Junior Member Find all posts View Profile Close raterus]

Here's what I found,
Wyndham Fairways at Palm-Aire-105,000 points! - eBay (item 180265282897 end time Jul-19-08 12:45:19 PDT)

I buy the cheeziest timeshare available, in fact if I could find a Wyndam Biennial quiet 1 bedroom unit with $100 maintenance fees a year, I'd say this would even be better.

I immediately trade the week into RCI, and around the time I want to vacation (off season in Sept), I start checking the RCI last chance deals.

When I see something I like (hopefully), I book it, pay some cash, and I'm set for a week long vacation at a very cheap cost.

Does this sound like a good strategy, any pitfalls?

[bnoble Senior Member Find all posts View Profile Close bnoble]

I'd encourage you to be a little bit patient, and a little bit picky in what you buy. While it is true that you can buy a mud-season no-name week for $1, that same $1 can buy you some surprisingly good weeks too. Usually not the top-shelf, brand name stuff, nor the stuff in the top-shelf peak season locations, but week with a good demand in a nice, well-kept resort.

The problem with a mud-season week is that if you decide it doesn't work for you, you might not be able to even give it away. If you have a "better" week, your chances of being able to dump it with no cost to you (and maybe even a few dollars in your pocket) go up.

The week you have your eye on looks like it is listed improperly. Wyndham Florida points deeds have taxes charged separately, but they don't look like they are accounted for here. That raises your MFs, which right now are already $4.83/K/year. Deeds that have MFs over $5/K are hard to even give away, because you can rent direct from Wyndham for that price with some limitations, and from other owners with virtually no limit for just a little bit more. It looks like at best a very mediocre deed, and could be a true dog.

Worse, the closing costs are right around $500, and the annualized point value is 52.5K. You're already very very close to the absolute upper limit of the value of "$5/K" points at a low-demand resort on the open market. If this goes much past a few dollars, I'll be surprised.

On the plus side, Wyndham points are a good option for you, because you can deposit weeks in 28K increments (a "blue studio") and do last-minute trades for just about anything. September Atlantic coast ought to be possible with such a week, especially if you are a little flexible about when in September and where on the coast.

Remember how I mentioned that the rules are subtle and take time to learn? This is an example. Take your time, learn, and rent for the upcoming September. There is no hurry. It's really easy to buy a timeshare. It's really hard to sell one.

[brucecz Moderator Find all posts View Profile Close brucecz]

Here's what I found,
Wyndham Fairways at Palm-Aire-105,000 points! - eBay (item 180265282897 end time Jul-19-08 12:45:19 PDT)

I buy the cheeziest timeshare available, in fact if I could find a Wyndam Biennial quiet 1 bedroom unit with $100 maintenance fees a year, I'd say this would even be better.

I immediately trade the week into RCI, and around the time I want to vacation (off season in Sept), I start checking the RCI last chance deals.

When I see something I like (hopefully), I book it, pay some cash, and I'm set for a week long vacation at a very cheap cost.

Does this sound like a good strategy, any pitfalls?

If you study you can get cheaper and better timeshare vacations than what a cramped hotel would cost for a week. Lots of us have done it, but there that knowlegde has to be learned with study as TRUE knowlegde can not just be given.

If all you want is left overs from what RCI can not rent out before thier LMR then that is what you will get. I do not use those rentals but get cheaper and better exchanges into prime times in prime locations.

Bruce

[raterus Junior Member Find all posts View Profile Close raterus]

Thanks for the replies and good insight about misrepresented properties that I would never have known about. I definitely realize I have a large learning curve here, and I'm in no rush to buy. I've already gone on my one vacation for this year, so if I was buying, it would be for Sept 2009.

My problem here is I don't have a lot of money to throw around. I'm in the "parenting" years, and have young kids, and right now we only budget about $600/year for our place to stay once a year. That doesn't go far, obviously!

That's why I'm thinking the cheap cheap timeshare, when it comes to MF would be my best option. I'm not worried about the initial purchase price, just MF, because those would come out of my budget each month.

So back to my question, do you see any reason not to buy the cesspool of timeshares, trade into RCI, and plan on buying the last minute deals when I want to vacation? It's hard not seeing the available last minute deals, since I'm not a member of RCI...yet!

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Thanks for the replies and good insight about misrepresented properties that I would never have known about. I definitely realize I have a large learning curve here, and I'm in no rush to buy. I've already gone on my one vacation for this year, so if I was buying, it would be for Sept 2009.

My problem here is I don't have a lot of money to throw around. I'm in the "parenting" years, and have young kids, and right now we only budget about $600/year for our place to stay once a year. That doesn't go far, obviously!

That's why I'm thinking the cheap cheap timeshare, when it comes to MF would be my best option. I'm not worried about the initial purchase price, just MF, because those would come out of my budget each month.

So back to my question, do you see any reason not to buy the cesspool of timeshares, trade into RCI, and plan on buying the last minute deals when I want to vacation? It's hard not seeing the available last minute deals, since I'm not a member of RCI...yet!

I am glad you are not in a hurry and have time to study.

Cheap, cheap timeshare is not necessarily be the best way to go for the reasons pointed out, nor is RCI the only guy in town when it comes to inexpensive last minute vacations. All the systems and exchange companies offer some version of that.

You are ahead of the game knowing what your target budget is. You must keep in mind that your vacation needs will definately change going forward as the children go into school schedules. Then you compete with a large universe for a small timeframe of exchanges. That is when you are going to rely on the quality you purchase to have enough "Uumph" to get you what you need. <as opposed to someone who buys the "garbage" week on ebay>. Quality doesn't necessarily translate into high maintenance fees.

Once you become a site contributor here or have 30 qualified posts you will be able to see our daily "exchange opportunity" forums where we list everything available for all the exchange companies, including Last Minute/Bonus stuff.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Here's what I found,
Wyndham Fairways at Palm-Aire-105,000 points! - eBay (item 180265282897 end time Jul-19-08 12:45:19 PDT)

I buy the cheeziest timeshare available, in fact if I could find a Wyndam Biennial quiet 1 bedroom unit with $100 maintenance fees a year, I'd say this would even be better.

I immediately trade the week into RCI, and around the time I want to vacation (off season in Sept), I start checking the RCI last chance deals.

When I see something I like (hopefully), I book it, pay some cash, and I'm set for a week long vacation at a very cheap cost.

Does this sound like a good strategy, any pitfalls?

This is an extremely bad idea. You will be extraordinarily disappointed with that strategy. Don't buy anything for at least 3-6 months. You have got a huge learning curve. Stick around here and read first.

You will know when you are ready. That's when you walk on the rice paper and don't leave a mark. And, you need to snatch the rock from my hand. Then, I will say, "time for you to buy...." lol. Keep researching grasshopper. Timesharing is the single greatest game ever created.