Tweet
What are your timeshare plans when you retire
I have been thinking about this for a while and had considered purchasing another home in Florida for the winter months when I retire in 3 more years but have now had second thoughts, What I am now planning is the following:
My plan is to eventually stop renting out our three weeks in Aruba and spend two weeks in St. Marteen at the Pelican were we also own weeks 50 and 51 and then spend 3 weeks a year during January in Aruba. That would give us 5 weeks a year during the cold winters to spend away from New York where we live. We still own 2 more weeks which we would try to trade for either additional time during the winter ( probably through flexexchanges ) to warm weather locations such as the Carribbean, Mexico or Florida or perhaps an occassional trip during the spring or summer to europe or anywhere else that we want to visit. We may also try for an occassional geteaway week through II or RCI (which seem to be harder to get for a reasonable price with all of their rental sites).
Compare this to what several of our friends have done which was to purchase condos or houses in Florida for anywhere from 200-400 K plus monthly maintenance and taxes. These friends of ours currently only go to Florida anywhere from 3-6 weeks a year plus a couple of long weekends such as Thanksgiving or memorial day. So far only one of our friends stay there for 4-5 months straight during the winter. I know they will have greater equity with there purchases but They always stay in the same place where we still have the flexibility of exchanging at least two weeks a year with our plan.
In addition for the five weeks that we can have guarenteed to St. Marteen and Aruba ( Just an aside I think spending five weeks a year in St. Marteen and Aruba beats Florida any day)our total cost is just our maintenace fees
( we have recouped all of our initial purchase price over the years we have owned) which will run about $3,400 plus and occassional exhange fee for our 2 remaining timeshare weeks ( unless we buy a few more before I retire) so that's a $3,400 a year for seven weeks a year away from home in timeshares. We also plan on adding a couple of cruises a year ( no timeshare exchange). The only downside I see is the constant room and resort changes every week and the multiple airline tickets.
So I was just wondering what are your eventual timehare retirement plans, if any or would you rather just own a second home somewhere?
My plan is to eventually stop renting out our three weeks in Aruba and spend two weeks in St. Marteen at the Pelican were we also own weeks 50 and 51 and then spend 3 weeks a year during January in Aruba. That would give us 5 weeks a year during the cold winters to spend away from New York where we live. We still own 2 more weeks which we would try to trade for either additional time during the winter ( probably through flexexchanges ) to warm weather locations such as the Carribbean, Mexico or Florida or perhaps an occassional trip during the spring or summer to europe or anywhere else that we want to visit. We may also try for an occassional geteaway week through II or RCI (which seem to be harder to get for a reasonable price with all of their rental sites).
Compare this to what several of our friends have done which was to purchase condos or houses in Florida for anywhere from 200-400 K plus monthly maintenance and taxes. These friends of ours currently only go to Florida anywhere from 3-6 weeks a year plus a couple of long weekends such as Thanksgiving or memorial day. So far only one of our friends stay there for 4-5 months straight during the winter. I know they will have greater equity with there purchases but They always stay in the same place where we still have the flexibility of exchanging at least two weeks a year with our plan.
In addition for the five weeks that we can have guarenteed to St. Marteen and Aruba ( Just an aside I think spending five weeks a year in St. Marteen and Aruba beats Florida any day)our total cost is just our maintenace fees
( we have recouped all of our initial purchase price over the years we have owned) which will run about $3,400 plus and occassional exhange fee for our 2 remaining timeshare weeks ( unless we buy a few more before I retire) so that's a $3,400 a year for seven weeks a year away from home in timeshares. We also plan on adding a couple of cruises a year ( no timeshare exchange). The only downside I see is the constant room and resort changes every week and the multiple airline tickets.
So I was just wondering what are your eventual timehare retirement plans, if any or would you rather just own a second home somewhere?
Comment