Only looking for local vacation spots

[greg544 Junior Member Find all posts View Profile Close greg544]

I guess one reason I wanted to hear from those of you with timeshare experience was to find out if timeshare are affordable.

We are tired of staying at Motel 6. I know a week in a timeshare will cost more than that, but how do I calcaluate the true cost?

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I guess one reason I wanted to hear from those of you with timeshare experience was to find out if timeshare are affordable.

We are tired of staying at Motel 6. I know a week in a timeshare will cost more than that, but how do I calcaluate the true cost?

I pay $391 per year for 7 nights in a 1 bedroom suite at Inverness. That is on the low side, but it's a standard resort, not 5*. You have to buy the right to do that (some are deeded, others are long-term Rights to Use). The Inverness weeks were going for the cost of transfer only, but now I think they are selling them, but they are under $1000. The nicer/more in demand the resort, the higher the price. Check out ebay for an idea (look at Completed Auctions, not active ones, for final sales prices). You are looking for summer, so that's pretty high demand in many places... Once you pay the "buy in" price, you only pay the annual maintenance fee. You could also get hit with a Special Assessment on occasion (but not often) for improvements/repairs if there isn't enough cash on reserve.

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

My DH is a teacher and I work from a home office. I think there are a lot of teachers who own and use timeshares.

Yeah-why is that? I started working for our local school district in the last year and I am astounded at the amount of people at school/work who own T/S's. Although only one bought resale

To the original poster, Yes- I think once you get past the original purchase price which in your case will be affordable since you found us before you purchased-and will buy resale-I find the maint. fees a breeze because I know my vacation is already paid for. If you are buying a drive to location-even better. You can usually house a family in a 2bd condo for a week for far below Motel 6 prices. Really. Just keep reading and asking questions. Above all, I do agree with buy what you will use-the obsessive trading and posturing we do here can come later...after you are hooked....like most of us here. LOL!
Read, Study and ask lots of questions and by all means if you can visit or preview what you buy-even better. Good luck!

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

My husband was teaching and I was a stay/home mom when we went on our first t/s vacation with our 3 and 5 y.o. back in 1996.
I realized then that if we bought we would be 'forced' to go on vacation -- no more "there's no money for it" AND that we would have some nicer vacations in the long run.
Our was not cheap but we loved the resort and have used the hell out of it
(2-3 weeks each yr) AND have traded and vacationed for 5 weeks in Disney in lovely places, Hawaii and more..
If done right and you understand how to work the system as far as trades, it's a smart deal. You'll have space, conveniences, (like that kitchen and a w/d) and a whole world of places to choose from.

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

Hi greg,

There are several timeshares in the area close to Houston. Another one that is frequently available at a low resale cost is The Landing at Seven Coves in Willis Tx. I believe it can be deposited into both RCI and II exchange companies. It's pretty much a standard TS.

I was recently down in South Padre Island which is a 6 hour drive. There are two or three nice resorts down there. Also, in the San Antonio, Hill Country, and Austin areas, there are several standard and Gold Crown and 5* resorts.

I think that people who live outside of Texas don't look at the TS's here in the same light as other places. Probably because the major hotel-TS resorts have not been built here.

As others have advised, hang around here for a few months and learn about the different types of TS, fixed weeks, float weeks, and point systems.

Quite honestly, at this point, I would try to wait until November or December to buy resale because it is cheaper to buy at that time of year because you won't have to reimburse the seller for 2007 maintenance fees and some sellers will cover some or all of the closing costs. Right now, you have to pay both of those expenses if you buy now.

If you want to call me, send me a PM and I'll give you my phone number. I live in Houston.

[Carol C Senior Member Find all posts View Profile Close Carol C]

I suggest you buy at Peregrine Townhomes at San Luis Pass. I owned there at one time. They have one br and two br units, it's well managed and clean and it's homey. The trade power for summer weeks and spring break week 10 is awesome with RCI as well...so imo you can't go wrong buying a resale there.

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

Welcome to TS4M's!!!

Take your time, and do your homework. Timesharing is great, it is important to learn all the facts, before buying, tho. Stick around here for a while, and you'll get all the info that you need.

Good Luck!!!

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Hi greg,

There are several timeshares in the area close to Houston. Another one that is frequently available at a low resale cost is The Landing at Seven Coves in Willis Tx. I believe it can be deposited into both RCI and II exchange companies. It's pretty much a standard TS.

I was recently down in South Padre Island which is a 6 hour drive. There are two or three nice resorts down there. Also, in the San Antonio, Hill Country, and Austin areas, there are several standard and Gold Crown and 5* resorts.

I think that people who live outside of Texas don't look at the TS's here in the same light as other places. Probably because the major hotel-TS resorts have not been built here.

As others have advised, hang around here for a few months and learn about the different types of TS, fixed weeks, float weeks, and point systems.

Quite honestly, at this point, I would try to wait until November or December to buy resale because it is cheaper to buy at that time of year because you won't have to reimburse the seller for 2007 maintenance fees and some sellers will cover some or all of the closing costs. Right now, you have to pay both of those expenses if you buy now.

If you want to call me, send me a PM and I'll give you my phone number. I live in Houston.

Hooray! Resident Texan to the rescue!!

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

Silverleaf resorts have a big presence in Texas. I believe they have an internal exchange program. I see ebay ads all the time for Silverleaf. Most of the weeks sell for $100-300. That would be a good buy. Silverleaf also allows pets, though they charge a fee. You should check those resorts out. Maintenance fees are very reasonable. I wouldn't think you would pay more per night than one room at the Motel 6.

My sister and her husband live in Dallas. Our nieces and nephews all stayed in Austin when my sister moved to Dallas. They love Austin and I understand why. Our nephew lives on Lake Austin in a beautiful house with two lots. He paid way less than what we pay in Denver for housing. He takes his boat out on the lake every day. Texas is a beautiful place.

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

how do I calcaluate the true cost?

Everyone probably does this slightly differently, but here is my approach.

I account for two costs: annual maintenance fees, plus the opportunity cost of the purchase price. The annual fees are easy: it's just a number that will be disclosed to you when you buy.

As for opportunity cost: I figure that, rather than buying a timeshare, I could have invested the purchase price. I assume I could have made 8% after taxes on that investment. So, every year, I charge myself the opportunity cost of not investing the money. I include *everything* I paid to acquire the timeshare---closing costs, resort transfer fees, etc. If I reimburse the seller for annual fees, I include those as purchase costs only if I can't use or rent the week.

So, if I buy a timeshare week for $2000, and pay annual fees of $600, then the "real cost" to me is $760 per year: $160 for opportunity cost added to the $600 in fees.

I consider a timeshare is a "good deal" if the real cost of ownership is less than the cost to rent an "equivalent" unit on the open market.

Over time, your opportunity cost is fixed, but your annual maintenance fees will probably increase. Of course, it is likely that the rental rates will also increase. Ideally, because part of your cost basis is fixed (the opportunity cost) you should be able to do a little bit better each year. But, that often doesn't happen.

I am making one important simplification: when you sell the timeshare, you'll recover some of your purchase cost. However, as long as you are holding the unit for a reasonably long time, AND you paid a fair-market resale price for it, this is unlikely to have a big impact, so I ignore it.

[greg544 Junior Member Find all posts View Profile Close greg544]

Wow! Thank you for all of the information. I have to research a lot of terms here, RCI, II, Gold Crown. You all are very helpful.

Quite honestly, at this point, I would try to wait until November or December to buy resale because it is cheaper to buy at that time of year because you won't have to reimburse the seller for 2007 maintenance fees and some sellers will cover some or all of the closing costs. Right now, you have to pay both of those expenses if you buy now.

Would it matter if it were November, December or January?

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

Silverleaf resorts have a big presence in Texas. I believe they have an internal exchange program. I see ebay ads all the time for Silverleaf. Most of the weeks sell for $100-300. That would be a good buy. Silverleaf also allows pets, though they charge a fee. You should check those resorts out. Maintenance fees are very reasonable. I wouldn't think you would pay more per night than one room at the Motel 6.

I was also thinking Silverleaf, as they also have Bonus Time so you could get away for a weekend here and there, and own more than one resort. Take in their presentation since you live near enuf. DON'T BUY THERE! Not sure what the resale vs from the developer does to bennies - that would need research to make sure to go the right way.

We've been making the rounds of the Silverleaf resorts since they are dog friendly (fee is between $50 - 75 for the entire week, no matter how many dogs in your party). SLs always have a ton of things to do, and typically are located a bit off the beaten path (so they give you onsite entertainment). I haven't seen a lot of nickel-and-diming at the resorts themselves - most everything is free.

They may also have day use, which would give you a country-club of sorts near home. If we lived near enuf to one of their resorts, we would buy in.

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

Shopgirl and Boardgirl,

Thanks for posting about Silverleaf resorts. After I posted I thought that I should have mentioned Silverleaf. They are really the only multi resort company in Texas.

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

This is the first time of I've seen this much discussion about Texas timeshares! We visited North Padre Island many years ago staying in a friends condo and have also spent a few days in San Antonio but this was before timesharing. We like to golf and usually go to California, Arizona or Nevada but have often thought about trying Texas for a change. I have been hesitating because the timeshares in Texas are rated so low. Are they all that bad? I was thinking a week on Padre Island or Galveston and a week inland might be fun. We would mainly be golfing and sightseeing so don't need a resort with a lot of activities just something clean and comfortable. I would be nice to hear more from people who live or own a timeshare in Texas.

Lynn

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

Lynn, I personally don't put too much stock in the ratings given by others because I know my priorities vary greatly from the majority. My "this is great!" could be someone elses "I'm not staying the whole week in this dump!" Granite counters won't make or break my stay, but a lumpy mattress, mold or broken unit appliances will.

We've been to plenty of "standard resorts" and have never had any problems in the areas of clean or comfortable. I've found that many times resorts are dinged for lack of giant pool or not enuf kiddie activities -- possibly things of great importance to one family, while I don't really give a crap about those. So the rating ends up meaningless to me but pretty honest from the perspective of the reviewer.

I'm also hoping to hear from others that have been to the resorts in Texas as they are 'next on our list'.