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Old Skool Member
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Discussion Starter · #1 ·
I have always heard you can buy them second hand and save a lot of money rather than direct from the "club". I was thinking of the Lake Tahoe area and specifically The Ridge at Tahoe. I am going up there next year for a week (not booked yet) and I am thinking maybe to just buy into it and be done. Probably get a week this year included also if done soon. It would be something my family could use every year even if I don't. Tahoe would be a good place because of the trading to go to other areas. Other than that my head feels like it will explode when I discuss points and shit like that. Simple and easy with exchange locations is what I am looking at. From what I understand if you buy in Tahoe or Maui you have a very good location for trades. I never thought that this would be a good option for me but with the grandkids and all maybe it makes sense now but I am not entirely sold on this stuff yet.

So..........input please :)

Thanks
 

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I'm baaaaack...
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My wife does this all the time. Go to Redweek.com and shop online there for your location. We got Kauai for less than a third of the going rate, and you can use it to swap anywhere. Good swaps available on redweek as well.

We've even stayed at London Bridge Resort on a holiday weekend for $275. Not a night, for the whole week..... You may have to attend a timeshare presentation on some of these deals, but if saving the money is more important than 90 minutes of your time, then give it a shot...
 

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You can buy a London Bridge time share at the Red level with low maint fees and a floating week for real cheap and use it to go anywhere in the world. I think it was $80 to trade for a week somewhere else and $125 for an international destination. If you don’t use it you can rent your week out for $500- $700

My Aunt paid $12K for her's, had $300 year maintenance and couldn't even get $1000 when she went to sell it. So buy "used" and read the fine print.
 

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Premium Member
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I don't really get timeshares. People all over are constantly selling off their timeshare weeks on CL and ebay for close to membership prices.. Why make the commitment when you don't have to? The wife and I recently purchased a Cozumel week from a lady on ebay for $100 more than a member would've paid.. The week was off the hook, total success and cheap...

Perfect example...
http://cgi.ebay.com/Ski-Heavenly-La...dZViewItemQQptZUS_Lodging?hash=item1e58b054d1
 

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Red Blooded American
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Do your homework and listen to those with experience especially other Timeshare owners. I own a "deeded" unit 3 BR 3 BA unit in Orlando by Disney World. I never plan on seeing it - never plan on staying there and I love it! We went to Cabo San Lucas last month and stayed at Pueblo Bonito at Sunset Beach with an even trade - normal fees for the presidential suite we stayed in were well over $1K per night. Off to Hawaii this coming summer. Because I bought a sought after unit, I can trade it anywhere. The unit cost almost $20K new but I purchased lifetime ownership for just over a $1K on eBay. Be careful to purchase one that has all it's fees current and make sure it's deeded so your ownership lasts forever and purchase it through escrow with title insurance so you don't get any surprises. I have a maintenance fee of $800 per year (due to the size of the unit) but I knew it going in. Without ever seeing it, I've learned to love it!
 

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Huntington Beach Havasu
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I bought one at the Nautical so I can use the ramp year round. Someday I might exchange it.

I would buy it second hand much cheaper and easy to do.
 

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time share

We bought at the Nautical, not so we can trade it, but so we can use it. Figured if we were doing it to trade, would not buy where we wanted to go all the time.

Use our prime week when we want, and will be using two units in Nov. for $75 per night. Beach front Condo, with launch ramp!! We're hjappy with our deal.

As for trades, if/when we want to go somewhere else, always look for the available deals on line.

Jerry
 

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Canatard
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3,341 Posts
I love time share condos. I've had some great vacations renting condos from people who thought it was a great idea when the guy was ramming it down their throat like an Abu Garhab prison guard and later realized they could have just rented for less than the yearly maintenance fees.

"vacation ownership" lmao! :D

Oh... and when they offer me the "free breakfast and tour", I thank them very much, take the coupon, and toss it in the waste bin on the way back to the condo.


Several years ago, I dated a woman who owned a time share in Florida. She wasn't happy about it. The maintenance fees were high and the cost to trade was prohibitive. She tried to sell it. Her $18K time share seemed to be listing at an average of $4K.

That $4K is for exactly the same thing. "New" is meaningless since you aren't buying real estate. You are buying the right to request the use of the facility during the "season" you pay for. If you read the contract, you will find that you are buying exactly zero physical assets but you have full responsibility for all maintenance. In other words, if the roof needs replacing or the foundation sinks to the core of the earth due to shoddy workmanship or lack of planning... you pay.

To be fair, it was an exceptionally nice place; one of the nicest places I've ever vacationed.

She traded it for a week in British Columbia. We went and it was a pretty nice place too. Not as nice as the Florida place, of course. Anyway, she really wanted to go to the "free breakfast and tour" but I wouldn't go. She was adamant that she was going to get a free meal out of those guys since she was paying so dearly for the condo experience. Somehow, she came back owning another week. Before she even returned to her unit, she was already upset about having another maintenance fee and being out another $20K for a week she didn't want. lol! :D

A few years ago, I met her in a shopping mall and she mentioned she purchased two more weeks since the days we used to date. She was upset about all of it. lol!

When you look around the parking lot of the nicer time shares, you will find most of the guests are not people of means. Sure, you will find the odd nice car but mostly, you will find people driving extremely modest cars with crappy luggage. People with money tend to stay away from the time share condo experience. That has been my observation, at least.

It may seem like a great idea now but a few years down the road when life changes and you want to go elsewhere, you'll discover it's impossible to unload, even at give away prices, and you'll probably go a few years paying maintenance fees and other charges without using it before you finally decide to sell. I recommend you reconsider, but I acknowledge there are a people who really enjoy the time share experience. .... just not anyone I know. Everyone I know with a time share regrets the purchase.
 

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i'll get you two lift tickets to Heavenly Valley if you go to a fun and informative 90 minute presentation all about vacations! You like to take vacations don't you? :D If you want one buy from a foreclosure outfit
-most good real estate offices have some inventory-
 

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Too Late!
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Do your homework and listen to those with experience especially other Timeshare owners. I own a "deeded" unit 3 BR 3 BA unit in Orlando by Disney World. I never plan on seeing it - never plan on staying there and I love it! We went to Cabo San Lucas last month and stayed at Pueblo Bonito at Sunset Beach with an even trade - normal fees for the presidential suite we stayed in were well over $1K per night. Off to Hawaii this coming summer. Because I bought a sought after unit, I can trade it anywhere. The unit cost almost $20K new but I purchased lifetime ownership for just over a $1K on eBay. Be careful to purchase one that has all it's fees current and make sure it's deeded so your ownership lasts forever and purchase it through escrow with title insurance so you don't get any surprises. I have a maintenance fee of $800 per year (due to the size of the unit) but I knew it going in. Without ever seeing it, I've learned to love it!
+1 - listen to the Doc... We've owned ours close to 10yrs now. Bought it on the second hand market. Watch the maintenance fees and go for something that does the following in order to increase your trading power on RCI or II:
- Large Unit
- Prime time of year (Red Wk)
- Internationally Recognized Location (Orlando, Vegas, Hawaii, etc.

We bought through Wyndham (use to be Fairfield). With them, you still have a deeded property, but you also are on a point system, so you have a little extra flexibility. Many times, I've been able to trade within my annual allocation of points for 2-two bedroom units at various Gold Crown Resorts, including Mexico. Definitely stay with the second hand sales... You can pay literally 1/5 the cost of new (or even better if the existing owner is desperate - which plenty are these days).

For us the decision was simple. Our family is too big for hotel units... so we're going to be getting 1-3 bedroom condos... and at $180-$450/nt, the timeshare was the sure bet to save a little money over time.

Our annual maintenance dues are around $725... We own at a Gold Crown Resort - 2 Bdrm Unit w/a loft.
 

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Red Blooded American
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i'll get you two lift tickets to Heavenly Valley if you go to a fun and informative 90 minute presentation all about vacations! You like to take vacations don't you? :D If you want one buy from a foreclosure outfit
-most good real estate offices have some inventory-
Fun and informative? You're kidding right? I'm 6'4" and 250 lbs and every single presentation I've ever experienced came near to blows. I say no thanks and they start the badgering then the manager comes over and wants to know what my problem is. Timeshare salesmen are so pushy and high pressure that used car salesmen can't possibly be classified with these leaches. There is absolutely no option for them to let you go without a major fight and they'll stop at absolutely nothing to make you sign a contract. It's never worth it and their presentations are the very reason it costs 10 times to purchase from the company rather than on the second-hand market. Even "Timesharesonly.com" is better than these presentations but eBay and Craigslist are the very best place to find a deal worth owning.
 

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VOTE!
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There is a lot of great info here. If you are looking for a luxury-type place that is bigger with more amenaties (kitchen, extra sleeping quarters, etc.) then a time share might work. There are lot's of hidden fees and with the initial upfront cost, we have never been able to make it pencil out.

My biggest concern right now is the financial stability of any resort. Tourism is way down and will be for some time. Many of the larger chains are over leveraged and ready to default on their bonds (on Bloomberg a few weeks back).

I would think that by just shopping around each year, you could get very good deals without the risk.

That being said, we are still considering the Westin Kaanapali North Villas but it will be on the secondary market for sure.
 

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We purchased two timeshares. One at the Westin Kaanapali Villas North and the Nautical Inn. Both we purchased directly at the resorts. Nautical Inn was the best deal because of the launch ramp hands down. We never stay there since we have a house in Havasu and trade it every year. The Westin we love but wish we would of purchased second hand. Would have been a much better deal. First year we had the Westin we traded the smaller side of our Ocean Front 2 bedroom villa and went to St.John U.S.V.I and got a 2 bedroom villa. Sweet deal. Do check out the maintenance fees. They do go up every year. The only benefit we have seen buying direct from the resort is that they do throw in perks. We received a bunch of points with Westin in addition to our 1 week purchase and have used those points for the past 3 years and have gone to St. John U.S.V.I.,Cabo San Lucas,Puerto Vallarta,Key West, Miami (for the Boat Show), St. Regis Kauai, St. Regis Monarch Beach, Palm Springs and of course Las Vegas all with the points we received. Good Luck!!
 

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Too Late!
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There is a lot of great info here. If you are looking for a luxury-type place that is bigger with more amenaties (kitchen, extra sleeping quarters, etc.) then a time share might work. There are lot's of hidden fees and with the initial upfront cost, we have never been able to make it pencil out.
I think you're right on w/the amenities part; hands down if you find a decent deal ($3K-$7K) you'll be doing better (over time). As far as hidden fees, we didn't experience that... the purchase price was what it was and the maintenance fees are what they are. They seem to go up a little each year (similar to homeowner's associations) but nothing hidden. We trade every year, so you have the RCI Exchange fee, but again - that is what it is.

My biggest concern right now is the financial stability of any resort. Tourism is way down and will be for some time. Many of the larger chains are over leveraged and ready to default on their bonds (on Bloomberg a few weeks back).
If there is a concern w/stability of various resorts, it might be a good alternative to look at the larger networked resorts. We bought into Fairfield (which is owned by the same folks that own RCI :) )... they were purchased by Wyndham. Take a look at wyndamvacationresorts.com and you'll see their own network of resorts along w/affiliates. Others do the same thing - Marriott, Westin, Palace Resorts and others. If you go with a larger one, you have more flexibility along w/stability.
 

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I own 2 both in Cabo i'm considering selling one of them since we just don't get down there as much now that we live in LHC, when we lived in Denver we would go twice a year. Both are 1 bedroom units and trade very well on RCI & II since they are floating red weeks. I have also rented them in the past for between $1000.00 and $1200.00 a week, spring breakers love them. If any is interested PM me and i can go into more detail, i would let one go for around $9000.00. Might consider a trade.
 
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