Timeshare point system a good value to the right family?

[MooseBucks]

I had posted recently about buying DVC and I am of the mind that for the right person, DVC timeshares can actually work out. If you're staying on property anyway and going to be spending the money it works out to be cheaper.

[disneysteve]

I had posted recently about buying DVC and I am of the mind that for the right person, DVC timeshares can actually work out. If you're staying on property anyway and going to be spending the money it works out to be cheaper.

DVC is a very notable exception to the rule. It really shouldn't even be discussed in a "should I buy a timeshare" conversation unless the question is specifically about DVC.

[Like2Plan]

And how many points did you buy?

You gave an example of needing 78 points for a week so that means you had to have paid at least $6,162 for those points, and probably more because I'm sure they didn't sell you 78 points. Maybe you bought 100, so $7,900 up front cost minimum plus another $648/year for the annual fee on those 100 points.

I realize offsite and onsite are different, but just to compare, we rented a 3-bedroom, 3-bath townhouse 5 minutes away last month. Total cost with tax and cleaning fee was $618 for 7 nights. It is incredibly easy to find rentals in the Orlando area for under $100/night because the market is so saturated. And the rentals are beautiful. Even timeshare rentals are readily available. We rented a 2-bedroom timeshare unit a year ago for under $60/night for a week.

Again, I'm not comparing equivalent properties. We can't walk to Epcot from our rental home or offsite timeshare, but we also didn't spend thousands of dollars up front to stay there and we aren't locked in to anything. We can go or not go as we see fit.

Actually, once you make an initial purchase Disney will sell you points in increment above 25 points (I think there is a max of 2,000 points per resort).

One other point is that DVC is very flexible. I can not remember that last time we stayed anywhere a whole week. Mostly, it is over a long weekend. DVC allows us to tailor our stay-- from 1 night up to a month (if we had that many points). We can straddle a long weekend and start our stay any day of the week.

I know that you can find less expensive accommodations in Orlando. We have been going to WDW (and DL) for over 30 years. We have stayed offsite from time to time. Our preference is to stay on site. Sometimes we like to do different things during the day. For example, DH might like to work out in the gym or I might like to go to a cooking seminar during the food and wine festival that DH is not interested in. Or, DH might like to go golfing (or parasailing) or I might like to go to the spa. Anyway, we have no transportation worries if we want to do something different. Also, the room is close enough that we can take a break in the afternoon.

Since we've joined DVC I believe our vacations are a lot more relaxing than they were before--as we take time to relax and enjoy the resort amenities.

Obviously there is an upfront cost. I think of it as our vacation home--which we looked into purchasing many years back. Neither DH or I wanted to worry about the maint and upkeep and all the other ongoing expenses that go with owning a 2nd home. We didn't want to manage a vacation house for rentals (especially when the market is overbuilt as you have noted). We didn't want to worry about break ins or stuff going wrong in a vacant property. DVC manages all that for us--there are ongoing maint fees, but they are more predictable.

We are not really locked into anything as we could easily sell our timeshare. It is much easier to sell DVC than it is to sell a 2nd home.
We structured our DVC purchases in smaller increment contracts so that we could sell off part of our DVC (also, the smaller contracts have a higher resale value).

I realize that timeshares are not for everyone, but we have enjoyed ours.

[Like2Plan]

I have thought about that, but most people buy too much or buy in the wrong way(retail for 10s of thousands). If I happened to go out west and bought a time share i would hate it and want to off load it because I couldn't use it. That's a lot of why people try to get rid of them. They don't or can't use it, so it's just a money pit. It's all about location and matching to your use. I have a ton of options around me for Wyndham, but if I ever move that would change. That's something else I'm thinking about. You never know what the future holds.

I have been asking why do people sell their timeshares, and it seems many it's just buyers remorse, buying into the wrong location or time, or not being able to use it like they thought. Even the timeshare forum recommends researching for MONTHS and be absolutely sure you will be using it as intended before buying. to me, it's about choosing the right product. You have to pick the right company (locations), right amount of time(even with what you already plan to use), and get it for the right price(close or less than what you already pay). If you can't match all of those buying timeshare probably isn't a good idea. I'll admit that part of this is to be able to travel a little more often each year. Right now, it's hard for us to justify many trips because of how much it costs us to get rooms. I really wish I could have someone with an RCI membership or similar to give me actual quotes to know if it is worth it to be in vs just renting.

Good steward,
I would be cautious about buying a timeshare that is basically being given to you. What do they say about this at TUG2?
I don't know if it is so much as buyer's remorse as it is things change over time. Your kids grow up. Your interests change and so on.
Wyndham is also pretty aggressive at getting folks to add on. We have some friends who own at Wyndham (they have owned for many years)--every time they use their timeshare they are "invited" to a free breakfast or whatever where they aggressively market add ons and the marketing folks--well, let's just say it's a good thing they aren't Pinocchio's or they would have some pretty long noses....

[GoodSteward]

I'm a little put off at how much you guys are lifting up Disney resorts. You are stuck to just Disney theme parks, and if someone can get points for other companies for nearly nothing and just pay yearly fees how is that any different than buying a Disney for a premium and selling it later for the same or slightly more?

At least with Wyndham, you have a ton of options for locations (including within Disney property -it's the one I went to) and you have the options to get days, long weekends, or weeks as well at most of their resorts.

The comparison would be Disney vs resell market for a timeshare that fits your needs(not retail). Also, I've read that Disney is more geared towards families with Kids. When the kids leave the parents don't really use the Disney stuff anymore.

[Like2Plan]

I realize offsite and onsite are different, but just to compare, we rented a 3-bedroom, 3-bath townhouse 5 minutes away last month. Total cost with tax and cleaning fee was $618 for 7 nights. It is incredibly easy to find rentals in the Orlando area for under $100/night because the market is so saturated. And the rentals are beautiful. Even timeshare rentals are readily available. We rented a 2-bedroom timeshare unit a year ago for under $60/night for a week.

I forgot to ask, but since your DD is off to college- do you rent a house if it is just you and your DW?

[GoodSteward]

Good steward,
I would be cautious about buying a timeshare that is basically being given to you. What do they say about this at TUG2?
I don't know if it is so much as buyer's remorse as it is things change over time. Your kids grow up. Your interests change and so on.
Wyndham is also pretty aggressive at getting folks to add on. We have some friends who own at Wyndham (they have owned for many years)--every time they use their timeshare they are "invited" to a free breakfast or whatever where they aggressively market add ons and the marketing folks--well, let's just say it's a good thing they aren't Pinocchio's or they would have some pretty long noses....

The cheaper you get the points the better as far as the initial investment and value. Tug2 doesn't say anything is wrong with those that are giving them away, it just needs to be the right fit for you.

Things do change over time and kids move out. Fee's increase and so on. I've been thinking about all that. That's why you need to be careful you don't over buy. You can easily rent more points for the times you need it so later on you are not stuck with too many. At least that is the idea I'm seeing.

I read on Tug2 that they recommend you just avoid the free meals for sales pitches and if needed just unplug the phone in the room.

[Like2Plan]

I'm a little put off at how much you guys are lifting up Disney resorts. You are stuck to just Disney theme parks, and if someone can get points for other companies for nearly nothing and just pay yearly fees how is that any different than buying a Disney for a premium and selling it later for the same or slightly more?

At least with Wyndham, you have a ton of options for locations (including within Disney property -it's the one I went to) and you have the options to get days, long weekends, or weeks as well.

The comparison would be Disney vs resell market for a timeshare that fits your needs. Also, I've read that Disney is more geared towards families with Kids. When the kids leave the parents don't really use the Disney stuff anymore.

Goodsteward,
Sorry, didn't mean to put you off. I only mentioned my experience as one of a timeshare point system that works for us. You are absolutely right about (pretty much) being stuck to Disney theme parks. You have to pay expensive maint fees for DVC--it would make zero sense to exchange from DVC to a less expensive option.

That is why we were looking at another timeshare to compliment the DVC points for staying offsite. But, we just don't know enough about the other timeshares to make an investment. This is the due diligence that you have to do. TUG2 has a lot of knowledgeable folks-that's why you might want to get some analysis.

[Like2Plan]

I had posted recently about buying DVC and I am of the mind that for the right person, DVC timeshares can actually work out. If you're staying on property anyway and going to be spending the money it works out to be cheaper.

How is the process going? Have you passed the ROFR, yet?

[rennigade]

The cheaper you get the points the better as far as the initial investment and value. Tug2 doesn't say anything is wrong with those that are giving them away, it just needs to be the right fit for you.

I've been thinking about all that. That's why you need to be careful you don't over buy. You can easily rent more points for the times you need it so later on you are not stuck with too many. At least that is the idea I'm seeing.

You're never going to buy a timeshare no matter how you spin it. The fact that you're trying to convince everyone how potentially awesome of a value a timeshare can be says it all. Nothing more can be said in this thread...what other info can be presented at this point? Just one of the dozens of timeshare threads with the same info over and over.

Like I said...go buy one and try it out...then come back and let everyone know.

[GoodSteward]

You're never going to buy a timeshare no matter how you spin it. The fact that you're trying to convince everyone how potentially awesome of a value a timeshare can be says it all. Nothing more can be said in this thread...what other info can be presented at this point? Just one of the dozens of timeshare threads with the same info over and over.

Like I said...go buy one and try it out...then come back and let everyone know.

I'm looking for real owners. You never gave any real reason why your family didn't enjoy it.

Until this past week i was 110% against it, and still am for any investment purposes. However, since I have looked into it I can see it has potential for the right situation. Obviously, there are some here who own timeshares and enjoy it. There are people who own them and hate it. Almost every single bad experience I am finding deals with people who bought retail from a sales pitch. The people who seem to really enjoy it are those who researched and bought based on what matched their travel.

[MooseBucks]

I'm looking for real owners. You never gave any real reason why your family didn't enjoy it.

Until this past week i was 110% against it, and still am for any investment purposes. However, since I have looked into it I can see it has potential for the right situation. Obviously, there are some here who own timeshares and enjoy it. There are people who own them and hate it. Almost every single bad experience I am finding deals with people who bought retail from a sales pitch. The people who seem to really enjoy it are those who researched and bought based on what matched their travel.

I agree with this...It can work out for the right situations at the right price. It clearly isn't an investment but does have the ability to work out as an advantage if it matches your travel needs.

[Like2Plan]

I have thought about that, but most people buy too much or buy in the wrong way(retail for 10s of thousands). If I happened to go out west and bought a time share i would hate it and want to off load it because I couldn't use it. That's a lot of why people try to get rid of them. They don't or can't use it, so it's just a money pit. It's all about location and matching to your use. I have a ton of options around me for Wyndham, but if I ever move that would change. That's something else I'm thinking about. You never know what the future holds.

I have been asking why do people sell their timeshares, and it seems many it's just buyers remorse, buying into the wrong location or time, or not being able to use it like they thought. Even the timeshare forum recommends researching for MONTHS and be absolutely sure you will be using it as intended before buying. to me, it's about choosing the right product. You have to pick the right company (locations), right amount of time(even with what you already plan to use), and get it for the right price(close or less than what you already pay). If you can't match all of those buying timeshare probably isn't a good idea. I'll admit that part of this is to be able to travel a little more often each year. Right now, it's hard for us to justify many trips because of how much it costs us to get rooms. I really wish I could have someone with an RCI membership or similar to give me actual quotes to know if it is worth it to be in vs just renting.

DVC trades into RCI, but it is a limited membership. They set points values for trade ins-for which I haven't seen any trades that look good from my perspective because they seem a little high. (We don't have access to the "last call deals"--it's the full point price or nothing). But, I believe the system would be different for you with a full membership.

What little I know (there is a guy on the DIS DVC board that has timeshares at many places and he is pretty knowledgeable) if the resort you own has a high trading power you can easily match for a trade through RCI (this is apparently not DVC, but certain Marriott resorts on Maui or Key West, for example). So, it seems there is a learning curve to figuring out the best trade in value. I've seen recommendations to deposit points like 2 years ahead of when you want to go somewhere and then you have to wait for a match.

Some other things you should know about your resort before you buy:
1. What are the banking and borrowing rules?
2. How far ahead can you make your reservation?
3. Is it a tiered membership? How this might impact you is if others with premier memberships could make reservations for high demand periods ahead of you and you are forever blocked out. (Think Christmas, Thanksgiving, Spring Break, 4th of jul, Beach resort in the summer et'c).
4. Are there additional fees? Like if you cancel and rebook your reservation. Or, if you bank your points?
5. Can you waitlist a reservation? (Can someone with a higher level of membership supersede your waitlist request?)
6. Are folks who purchased via resale treated differently than those who bought directly from the developer?
7. Can you make your reservation online?
8. Is your use year going to work efficiently with your vacationing patterns?
9. What are cancellation rules?
10. Can you purchase trip insurance?

[GoodSteward]

DVC trades into RCI, but it is a limited membership. They set points values for trade ins-for which I haven't seen any trades that look good from my perspective because they seem a little high. (We don't have access to the "last call deals"--it's the full point price or nothing). But, I believe the system would be different for you with a full membership.

What little I know (there is a guy on the DIS DVC board that has timeshares at many places and he is pretty knowledgeable) if the resort you own has a high trading power you can easily match for a trade through RCI (this is apparently not DVC, but certain Marriott resorts on Maui or Key West, for example). So, it seems there is a learning curve to figuring out the best trade in value. I've seen recommendations to deposit points like 2 years ahead of when you want to go somewhere and then you have to wait for a match.

Some other things you should know about your resort before you buy:
1. What are the banking and borrowing rules?
2. How far ahead can you make your reservation?
3. Is it a tiered membership? How this might impact you is if others with premier memberships could make reservations for high demand periods ahead of you and you are forever blocked out. (Think Christmas, Thanksgiving, Spring Break, 4th of jul, Beach resort in the summer et'c).
4. Are there additional fees? Like if you cancel and rebook your reservation. Or, if you bank your points?
5. Can you waitlist a reservation? (Can someone with a higher level of membership supersede your waitlist request?)
6. Are folks who purchased via resale treated differently than those who bought directly from the developer?
7. Can you make your reservation online?
8. Is your use year going to work efficiently with your vacationing patterns?
9. What are cancellation rules?
10. Can you purchase trip insurance?

Great info and questions, thanks. For the record we homeschool so we are not locked to a time to travel, and I can't stand going during peak seasons. The only trip that is considered this is that yearly church event that is being held in August at a conference center outside black mountain, NC. The closest Wyndham is 40 min. If I opt to avoid using them for that, it would mean a drop in points needed if I purchase any. I would strictly buy according to what I planned to do.

Our trips to Orlando or Gatlinburg would purposely be off season to avoid crowds and lines. I'm just playing things out for now. We'll see

As for last calls, I'm told you can find deals as good as a 1bd for 199 for the week, but I don't do much full week traveling. It's rare. I mostly do 3 or 4-night trips. Or just a quick weekend away. Traveling with the family, or special events where you would like a nicer place are the main selling points for this. Otherwise just get a hotel.

[LivingAlmostLarge]

From what I've heard only disney is the best deal on timeshares.