Unconfigured Ad Widget

Collapse

Unconfigured Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

At what point do MFs become untenable?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #31
    Hotel prices have increased in some ways...but in other ways they have decreased. Five years ago you had to call the hotel and wheedle the best price you could out of them. Now you can use Hotwire or Priceline and get really unbelievable deals. We're going to Pittsburgh in April and we got a three-star hotel for $42 a night. Best price on the internet without Priceline is $150 per night. Of course here at TS4Ms we're mostly all the types to work the system and find the best deals.

    The downside of that $42 per night is that you have to depend on the kindness of the hotel management to give you a room with two beds, to give you a nonsmoking room, to give you a clean, decent room.

    If you're an owner at a T/S, they do at least treat you nicely at that timeshare. Usually.

    In strictly dollars and cents terms, I'm sure I could do better at hotels, often even getting two rooms for less than the per-night price I pay for the timeshares, between the maintenance fees, the lost-opportunity costs of the initial investments, and the exchange fees. But the timeshare rooms are bigger, we can spread out, and they force us to go on "real" vacations to places we would never get our lazy selves to if we didn't HAVE to use those T/S weeks. So I'm thinking it's worth it for us. But it's more of an emotional advantage than a financial advantage.

    Comment


    • #32
      It's true that deals can be had on hotel rooms via Priceline, Hotels.com and others. Problem is, you can't count on that when you are planning ahead. I still say that it's very difficult to get a decent hotel room just about anywhere for less than $100/night on a regular basis. Also when I'm with my family I refuse to spend more than a couple of nights in one room!

      Comment


      • #33
        Just try to get a Motel 6, Howard Johnsons or Travelodge in Orlando for less than $69 per night in the summer+taxes of 11%!

        We choose to stay in nice places, with lots of room, so hotels just cannot cut it. A hotel is a necessity when you are on the road, heading to your timeshare destination. I plan those ahead and usually try for a Hampton Inn at a little less than $100 per night. We are not staying in a dump before arriving at Marriott Cypress Harbour or Disney's Old Key West.

        How odd that some would suggest taking potluck with Skyauction, when Last Call weeks are in Gold Crown resorts and Getaways with II at Marriott are reasonable. I am not going to get a week at Vistana and have them put me in Fountains or another bad part of that resort, when I can go to Vacation Village at Parkway and have a guaranteed great stay through last call. Another great resort I see often is Hilton on International Drive. When is that one on Skyauction?

        The problem is that TUGgers and Forums members are spoiled. We want a resort for less than $80 per day, with two or three bedrooms. What amazes me is that we go to Hawaii for that price. If Orlando costs that much, well then so be it. It balances out, when you have a great trader with low maintenance fees. I am not going to grab the Skyauction deals. Let's leave those for the hotel users.

        Comment


        • #34
          We've also believe it or not exchanged homes. It worked really well and the people also had a car they were happy for us to use so we exchanged cars as well.

          Hotel room deals are better in the U.S. Here in Aus and NZ, they're more expensive generally. We had to stop enroute in Auckland, NZ to Tahiti and the best we could do was a basic room for about NZ$130. That was fine for one night but for anything longer, give me timeshare anyday.
          Syd

          Comment


          • #35
            My timeshare budget is $150 per night, taking into account maintenance, the exchange fee and 10-year amortization of the purchase price.

            So if I buy a week for $1,400 ($20 per night per year over 10 years), plus $20 per night for the exchange fee, I can pay $770 for maintenance.

            20 + 20 + 770 / 7 = 150/night

            That fits well with Fairfield or quality RCI Weeks or Points properties (resale, of course).

            ---------
            I wonder if the people who buy Platinum properties get their money's worth, even at resale. A $10,000 purchase plus $1,300 maintenance plus exchange fee comes to about $350 per night. For that I'd rather pay-as-you-go.

            Comment


            • #36
              Having reached retirement, we are using timeshare as our second home in a way. We raised 4 children in the expensive state of California. With the attendent expenses we were never able to invest in any real property other than our primary residence. And having helped four children get college educations & buy homes of their own, we somehow reached the end of our earning years without making a killing in the California Real Estate market. We also live in a cold winter climate area (it is not all sunshine & palm trees in the golden state ) & would like to be snowbirds for much of the winter. We now own 10 floating week timeshares at an annual cost of about $5276 in MF & taxes. Because some are lock-offs we can get a minimum of 12 weeks per year with no additional fees. Our fees are generally fairly high because we own in Hawaii, California, Arizona & Nevada. They are all Gold Crown resorts. So for $440 per week. we can spend the entire winter in those much warmer locations & in most cases we are in at least a 1 bedroom full kitchen top quality condo. When winter is over we can return to our slice of California paradise in the Sierra mountains. We don't have to worry about our non existant 2nd home being unoccupied & needing maintainence or getting vandalized & such. Granted there is no tax write-off for our 2nd home, but there is not much headache involved either.

              our initial cost for those 12 weeks wouldn't buy a woodshed here in California much less in Hawaii. So loss of capital income is not a consideration for me.

              If we choose to trade, we generally get at least 1 extra week per deposit, reducing the per week amount even more. And when we are too old to travel any longer, the kids can use them or sell them for $1 each.
              The legitimate object of Government is to do for a community of people whatever they need to have done but cannot do at all or cannot do so well for themselves”- Lincoln

              Comment


              • #37
                Originally posted by rklein01
                My timeshare budget is $150 per night, taking into account maintenance, the exchange fee and 10-year amortization of the purchase price.
                I have 5 TS (first two from developers) and take a slightly different approach when analyzing the purchase price. I'm currently 58 and assume I will use TS until age 73. My basis for a 1BR is $125/night-$875/week, excluding exchange fees since I am only looking at HGVC managed properties. If I look at one today, I multiply MF X 15 years. Then $875/week X 15 yrs. = $13,125. I subtract the MF X 15 from $13,125, deduct closing fees, and that's the limit for the price I will pay. I adjust my weekly target annually as MF go up on the three aftermarket ones I own, and of course, as I get older, the denominator gets lower forcing the sale price lower.

                Hopefully my limit gets lower soon so I don't get the deal before I get too many more TS!
                Give me a place with 4 S's: Sun, sand, surf, & suds-Dale (from Illinois)

                Comment


                • #38
                  I just gave away a Foxrun week that always gave me an AC, because the maint fee had gone up to $550. Yeah it's reasonable for a 2 br, but I am now trying to acquire weeks I'll actually use, particularly in Mexico (to live in timeshares part-time in retirement.)

                  For me right now, a $450 m.f. is my maximum limit for a "trader".
                  "Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed and those who are cold and are not clothed."
                  -- Dwight D. Eisenhower

                  Comment


                  • #39
                    Carol, do you still have a Foxrun?

                    I am holding my breath for the assessment announcement that will likely come this year sometime. We own three weeks, so this will be a tough thing to pay, but if the resort gets even better trades, it is worth it.

                    I feel that II's exchange fee is very reasonable at $29 less than RCI. If they raised that cost, I will be very upset. I am using our RCI weeks much less than the past, simply because of the increase in exchange fees. I think they are total crooks, personally, but the points system is still okay.

                    Comment


                    • #40
                      Originally posted by shopgirl
                      Carol, do you still have a Foxrun?

                      I am holding my breath for the assessment announcement that will likely come this year sometime. We own three weeks, so this will be a tough thing to pay, but if the resort gets even better trades, it is worth it.

                      I feel that II's exchange fee is very reasonable at $29 less than RCI. If they raised that cost, I will be very upset. I am using our RCI weeks much less than the past, simply because of the increase in exchange fees. I think they are total crooks, personally, but the points system is still okay.
                      Cindy, I owned 4 at one time and now have none. I just gave away my last week, and I gave away 3 total, for free. Geez, maybe I'm responsible for Foxrun's decreasing market value!
                      "Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed and those who are cold and are not clothed."
                      -- Dwight D. Eisenhower

                      Comment


                      • #41
                        Originally posted by barndweller View Post
                        Having reached retirement, we are using timeshare as our second home in a way. With the attendent expenses we were never able to invest in any real property other than our primary residence. & would like to be snowbirds for much of the winter. We now own We don't have to worry about our non existant 2nd home being unoccupied & needing maintainence or getting vandalized & such. Granted there is no tax write-off for our 2nd home, but there is not much headache involved either.
                        Amen to all of that Barndweller. We are in exactly the same position. We now can live many many many weeks oceanfront, lakefront, or wherever we want and not worry about maintenance, utility bills etc.

                        We are very happy with this alternative to the vacation home or retirement apt.

                        And yes, to the kids, when we can't use them anymore!
                        7 years of fulltime timesharing, only 6-7 months, now based in Puyallup, WA
                        www.ronandjoanjourney@blogspot.com

                        Comment


                        • #42
                          Carol, so you feel that $550 maintenance fees are too high, or were you worried about the assessment?

                          Comment


                          • #43
                            Maintenance Fees as a % of Net Annual Incom

                            I have 3 Fairfield weeks (507,500 points) and pay about $2,000 per year.
                            With VIP Gold and the 35% discount for FF exchanges within 60 days and depositing 28k, 42k and 70K with RCI, I can get roughly 8 weeks plus a few 3 day weekends. I get 5 week of annual leave, go figure. I plan to retire before Dec 2007.

                            $2,000 isn't a struggle while employed but with exchange fees, transportation, etc., time sharing will take a lot of the disposable income.
                            I am considerin buying one non-Fairfield week for our annual use in a location we enjoy. No second home or cabin on the horizon.

                            What % of one's non-investment income is reasonable with no debt?

                            Comment


                            • #44
                              You maybe better off renting out the FF points instead.

                              They are going for $5 - 6 for current use year points.
                              Mark B.

                              Comment


                              • #45
                                Same here!

                                Originally posted by BocaBum99 View Post
                                I like to use the nice round number of $700 for a 2 bedroom unit. So, the MF plus exchange fee must be less than that for me to seriously consider it.

                                That is where we are at. Anything less than $700 is like extra dessert!
                                [COLOR="MediumTurquoise"]AMY!![/COLOR]

                                [I][COLOR="Black"]aka akbmusic on the "other" timeshare BB[/COLOR][/I]

                                Comment

                                Working...
                                X