Holy Smokes !!! Buying Timeshares

[Tom in GA Member Find all posts View Profile Close Tom in GA]

First, we very happy Bluegreen timeshare owners. We have enjoy our vacations and have been served by some fine staffs at our vacation sites.

I'm not going to try to pick on any one person, but timeshares have limitations as to value. There are several things potential buyers need to know BEFORE thet take the plunge.

1. Although it is real property, the purchase should not be viewed as an investment. It is a way to take a nice vacation at a nice location for a little below the going rate.

2. NEVER, NEVER finance these things. If you are using your lunch money to buy it, you shouldn't own it. Pay cash...period. Don't buy on a salesperson's pressure sales pitch of 'a great offer'. Believe me, those offers come around and around and around..... Investigate the resale maket.

3. If you don't take vacations now, what do think spending a bunch of money will make you take a vacation? Understand how a timeshare system works before you plunk down the money.

4. Investigate BEFORE you buy. I see people in the sales offices during our vacations....and you know what, I have yet to have one person that was a potential buyer ask me what I thought of the property and timesharing.

Just some points... I hope it helps. Any comments welcomed.

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

It's definitely NOT an investment (property wise).
I WOULD consider it an investment in personal time.
I would agree, never finance.
Definitely do some research before buying into timeshares.

Good timeshares can now be had for almost nothing, just shop around. I like to check the listings on eBay periodically. WATCH OUT for those maintenance fees - some are exorbitant on some fixed and floating weeks.

I've talked to several potential buyers at Club 36 in Vegas while at the pool. I actually encourage them to buy some developer points (not many and hold out for a better price), than add to them via resale.

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

Thanks

3. If you don't take vacations now, what do think spending a bunch of money will make you take a vacation?

In the past I would have liked to vacation but something always came up. We were confirmed workaholics. Also, our salaries had come up, the house was paid for, and we had cash in the bank. We figured if we paid for it ahead of time, we would force ourselves to use it. And we did!

Thanks BG. You have changed our lives!

Charles

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

In my original sales pitch a few years back, it was pitched as an investment...not that I looked at it that way.

Interesting one of the "terms" that was thrown around in my last update was "401V". Just like you invest in your 401K, you should invest in your 401V

The more things change......

[smithiekid Member Find all posts View Profile Close smithiekid]

In our original sales pitch at Oasis Lakes (The Fountains) I said this will be an investment for hoildays (meaning it will save us money in the long run), I was pulled up on this and reminded that it should not be seen as an Investment.

Times change, were they more "truthfull " back in 1999 (and 2004 when we joined BGVC) or did we just strike it lucky ...... I wonder

[Timeshare Helper Junior Member Find all posts View Profile Close Timeshare Helper]

another good idea

All great points and another thought is buying in the secondary market and saving a bundle. A good site for that is
resortholdings.net

[bigfrank Administrator Find all posts View Profile Close bigfrank]

All great points and another thought is buying in the secondary market and saving a bundle. A good site for that is
resortholdings.net

Is this your site?

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

3. If you don't take vacations now, what do think spending a bunch of money will make you take a vacation?

This is the only one I kind of disagree with. We didn't vacation until we bought into Bluegreen, and one of the reasons we bought in was to motivate us to vacation. Which it does. Hubby hates to lose money, so if he has to pay yearly fees, we're gonna vacation.

Although that's not the only reason we vacation with Bluegreen -- I really hate being without a kitchen for very long. I enjoy restaurant food sometimes, but after not very long I want an old favorite or just eggs prepared the way I like them or whatever. And for sure all of us enjoy vacationing more in a condo than we ever did in motel rooms, because while we're closer together than we are in home and spend more time doing stuff together, we still have enough space to get some distance when necessary.

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

We made the mistake of buying from the developer (Sunterra) and it was more expensive than I had hoped, BUT, we did get a great vacation incentive. We did not plan vacations before and did not get out much. Now we plan ahead, get flights, arrange vacation time and go to places that we would not have done before. I do wish that we had known about TS4MS before signing, though.
Tom

[kntb Member Find all posts View Profile Close kntb]

We made the mistake of buying from the developer (Sunterra) and it was more expensive than I had hoped, BUT, we did get a great vacation incentive. We did not plan vacations before and did not get out much. Now we plan ahead, get flights, arrange vacation time and go to places that we would not have done before. I do wish that we had known about TS4MS before signing, though.
Tom

I hear you Tom. I am so glad I found this place when I did. It has already helped me by making me knowledgeable about things that I thought I knew and understood but really didn't. I saw a few posts saying bocabum99 was the MAN when it came to Bluegreen. I haven't had the priviledge of talking to him, YET, but I have gottn a lot of advice and wisdom from folks here, particularly Hobitess. If bocabum99 is as sharp as she is, and I am sure he is, I am going to have it made in the shade!!!!!!!!

It is so good to have a source of information that will give it to you straight.

[Tom in GA Member Find all posts View Profile Close Tom in GA]

In General

Thanks to all the folks who posted. My remarks were meant in general terms to make people think before falling off the the cliff.....or losing their wallets.

I'm now planning a 2012 Club 36 Las Vegas trip. The only problem is the Indycar schedule hasn't been confirmed until some reuslts are announced from the Dan Wheldon death at last month's race. The may not have the race there any longer which may cause me to switch to March for the NASCAR race. As soon as that is figure out, I'll use the rest of the points for The Fountains.

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

No Mistake on your part

We made the mistake of buying from the developer (Sunterra) and it was more expensive than I had hoped, BUT, we did get a great vacation incentive. We did not plan vacations before and did not get out much. Now we plan ahead, get flights, arrange vacation time and go to places that we would not have done before. I do wish that we had known about TS4MS before signing, though.
Tom

You did not make a mistake. If the developer had not conned you into a presentation and showed you a product that would have a great impact in your life and your family's life, you would still be taking very few vacations to crowded motels, etc. Now you have learned of resale, you can more economically expand your vacations which add so much interest to life, relieve stress, etc.

Charles

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

I saw a few posts saying bocabum99 was the MAN when it came to Bluegreen.

Yes, Yes, Yes.

Charles

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

We made the mistake of buying from the developer (Sunterra) and it was more expensive than I had hoped,

Was it a mistake, or was it the best choice you could make with the information you had? Perspective is everything. Even if it was a mistake, you're clearly making the best of it and using it to improve your life, which is terrific.

[jerminski73 Junior Member Find all posts View Profile Close jerminski73]

Maybe a mistake in the cost but definitely NOT a mistake in your future! We all gotta live and learn, you being here is going to help you get the best out of your initial bad deal.

You did as probably all of us have (I did) and bought at a timeshare presentation. I was at one (not-Bluegreen) with my wife (our third in-fact, loved the concept but expensive is just EXPENSIVE!) and we kept telling the guy no-way, can't afford it. He went to his "sales manager" and like a schmuck I told my wife if they come back under $9000 I am jumping on it. He came back at $8900 (table bugged, hmmm?) and gave us the "awesome deal" details, "Orlando, Red week, awesome trading power, can't lose" so we did it (Resort1). Lowe and behold, first time I tried to use it they said Red week, week 2 is a value week and to come during primetime you have to pay $650 additional fee. Boy at that moment I was a very un-happy, ready to kill the sales guy, not at all loving timeshare fan! But like everyone here, I found out others had been duped at the presentation and instead of hating their ownership and whining and crying about it on public forums, we came here, shared our experiences and learned how to deal with the best of a bad deal.

My Bluegreen presenter was awesome, she asked what we wanted and I told her no BS, I own already and am totally un-happy, I want the truth, no sugar coating, no lies, the truth. She gave me great advice and she offered me options. My wife and I liked what she offered us, gave me copies (for real, actual copies!) of all the work papers with all of the "insider tips" she was talking about and we bought it that night (Resort2). Next day I am on EBAY and I see points for rock bottom prices, OMG I GOT TAKEN! I most definitely recinded, I got my dough back, bought two different resorts on EBAY (Resort3&4) and made the choice that I was going to become a better user of the system, not a loser and whine.

Then I found this forum, Thank God I did, I once again am an owner in BG (Resort5) and am loving the way it makes my life so much easier! I go when I want, where I want and I can do it all online without FEES! If the week I want is not available I do a flex search and BAM, vacation, here I come! All of this learned by listening to others mistakes and making the best out of our bad initial experiences!

Happy to say that we are very satisfied vacationers! Resort #1 was in our budget to afford but burned us in the usage, #2 was harder to afford but thanks to the internet worked out not costing us a cent (rescinded), #3 was way affordable and has been put to more use in less ownership time than #1 ever was, #4 was way affordable but the east coast is farther than I had figured in my head so we havent been to it yet, #5 was harder to swallow but is now paid off and I will never regret having, #6 was a nice little upgrade that got me outta #1 and combined it with #3 making the maintenance fees drop by about 48%! Yay for lower maintenance fees! So now, we are proud owners at BG and 2 other resorts and we have been fortunate enough to use alot more vacation time than ever before and when we cannot go we offer it to others for far less than they could go and it helps us offset our MF, win-win! Never lose the time, use it or share it, friends and family will love ya for it! Sorry for the long post!