Buying timeshares (even resale)

elainek40 wrote:

jenniferc190 wrote:

deborah820 wrote:

jenniferc190 wrote:

I am interested in purchasing the Westin Ka'anapali Ocean Resort Villas. I am fairly new at the timeshare concept and will appreicate all opinions. I am quite impressed with the SPG program and am already a gold member.

I am wondering if I should wait for the North Villas resales to become more available or purchase "pre owned" ones on the existing buildings. I am also wondering if I am better off purchasing the "resale" ones from the developer. I do realize that the price will be higher the then general resale market but it may offer some perks that I may be interested in. Also, I find the annual fees + taxes being almost $2000 is quite high, I am wondering if I am better off just renting. Thanks for you thoughts on this.

This is what I have done, I purchased a resale at a location that I wanted. I used an online timeshare resale site. I had not one problem with them. The transfer of the deed was done with ease by them and I received it in a timely manner. I also, got this time share at a very reasonable price. My yearly fees are managable. The unit I purchased was exactly as it was told on this resale site and they made sure I understood what I was purchasing. I purchased a one bedroom in a specific location within this resort and that is exactly what I got. This Timeshare is a Starwood Resort that is also a five star Resort. I have enjoyed it two years now and I am headed for our third. The unit rents for triple what I pay in Maintenace fees in a week. The only thing with purchasing a resale with the Starwood resorts that I found the hard way is that you aren't able to use there own Starwood Network for exchange of your unit for another Starwood Resort in another location. This is Starwood's rules. Anyone with a repurchase not from the Starwood resort, such as a repurchase from a past owner you do not get the Starwood transfer or upgrade benefits. Which as an owner I feel is wrong. I do have a deeded timeshare with a red week and it also can be used as a float. But, I am not allowed to use the Starwood vacation network. So I just use RCI. That is the only drawback that I have found. I hope this helped you.

Hi, thanks for the information. Does it mean you don't get the points either? What is your overall experience. THANKS AGAIN.

Some Starwood resorts are mandatory SVN and some are voluntary. The new Princeville Resort is voluntary so StarOptions cannot be used within the Starwood network on a resale. The Westin Ka'anapali Resorts are mandatory so a resale purchase there allows you to use StarOptions to trade within the Starwood network. StarPoints which converts to hotel and other points usage cannot be used on a resale.

I wanted to let you know the same things. Make sure the resort does not take away rights that are inportanrt to you when buying resale. Marriotss also do not allow resale buyers to usethe points program. Disney does not do this but most developers do. starwood will give you elite status for timeshares purchased only from the developer.

I have been doing a lot of research regarding timeshares - but still unsure of what to do.

I am trying to decide if it would make more sense to rent from someone else or to buy. I don't personnaly want to go back to the same place year after year (I may use a few times), but essentially would liek to use a timeshare to exchange for other timeshares. I am not sure if that would benefit me cost wise - or if it would be cheaper to go about renting on places like Redweek, etc.

Renting is probably a good idea for you, since it will give you a chance to experience timeshare vacationing without the permanent commitment, at least until you know more. Go to their sales presentation and ask LOTS of questions but don't be rushed. There are many different types of programs and you really need to understand them before making a long term decision. Don't be too quickly sold on the fact that RCI lets you make exchanges. They DO, but that involves substantial fees and if you do not have a good property to "bank" with the exchange company, what you can get may not be what you want. WE favor owning with large resort groups which allow free exchanges among their scattered resorts and only use RCI now and then. MD

rosem108 wrote:

I have been doing a lot of research regarding timeshares - but still unsure of what to do.

I am trying to decide if it would make more sense to rent from someone else or to buy. I don't personnaly want to go back to the same place year after year (I may use a few times), but essentially would liek to use a timeshare to exchange for other timeshares. I am not sure if that would benefit me cost wise - or if it would be cheaper to go about renting on places like Redweek, etc.

I agree with MD above. I would never buy strictly to exchange as you may be sorely disappointed in the trade power of whatever you buy.

When you buy a timeshare, you are then responsible for all financial obligations (maintenance fees, special assessments, etc) forever or until you sell it (which it's much easier to buy than to sell) and fees related to exchange companies seem to go up every year.

However, when and/or if you ever decide to buy I would research all the point systems out there and especially those point systems that permit you to trade within while bypassing the major two exchange companies (RCI and II).

There's a points system forum here on Redweek.

While it is very true that resort maintenance fees do rise over the years, there is nothing unique about that, is there? Most things do, so we need to face the fact and plan on it. MD

adahiscout wrote:

While it is very true that resort maintenance fees do rise over the years, there is nothing unique about that, is there? Most things do, so we need to face the fact and plan on it. MD

Yes, maintenance fees have to adhere to inflation just like anything else. It's the amount of a yearly raise that bothered me.

We owned at a resort that charged a special assessment (paid in yearly increments for 3 years totalling $525) paid along with the maintenance fee, then the resort raised fees by $50 every year until we sold. The resort had no reserves and had let things go. This is when we started selling all our timeshares as we saw the handwriting on the wall. There should be a percentage cap on rises in maintenance fees.

As long as you're happy with whatever percentage rise your maintenance fees are every year, then I see no problem. However, when it becomes clear that the financial burden is placed on owners due to a lack of maintenance issues not being addressed by the HOA, then I definitely see a problem.

There are some resorts that are so well run/managed that some years there's no rise in fees at all and if there is it's not that much of a rise percentage wise.

Dont use Timeshareadventures.com they are the worst. They say pay the Platinum fee of $895.00 and your closing costs are covered. That is a lie !!!!!!!!!!!!!! They will say that they had no interest on thier site but have transfered it to a broker that has interest and you have to pay Them another fee of $1500.00 to sell your timeshare. Its a scam folks and they have the most incompetent team on the planet. It took 8 months to close the deal. BEWARE!!!!!!!!!!!!!!!!!! Dont use Timeshareadventures.com or Sellmytimesharenow.com they are the same company

I saw this post and I would like to reply, as I am the Director of Communications for Sellmytimesharenow.com. Just to clarify, we are not affiliated with Timeshareadventures.com and have no relationship with them whatsoever. Thank you.

Timeshareadventures.com, got me too! i lost over $3,500 with them. beware! bad, bad, very bad people,Timeshareadventures.com

sure jayjay,but I have to agree w. this previous poster's comments,in my case:

>>>>>When you don't own a timeshare, you are more likely to skip vacation for a few years because you could use the money on something else. Owning a timeshare (at a resonable rate) forces 'us' to invest in family and take a vacation. Not to mention, having a deed to the property that can be handed down to the next generation and so on. You eventually will get back your investment and then some.<<<<< -------------------------------------------------------------------------------

...my husb. is a workaholic,and thus ownership will force him/us to enjoy a week away,which otherwise might not happen.also,the maintenance fee is just a small monthly payment,so when that week comes up,there is nothing else to pay for.we can just pack and leave.it's a fixed week,and so we know exactly when to schedule.and as above,it's something I want to pass on to my children;a decent,family resort and a scheduled time to go on vacation every yr,for just a small fee every month.I guess ppl have different reasons for buying,but I wish my family had passed an opportunity like that on to me.

sandrak122 notes in relevant part: >> it's something I want to pass on to my children... ...I guess ppl have different reasons for buying,but I wish my family had passed an opportunity like that on to me. =================================================

It's great that you utilize and enjoy your timeshare, but with all due respect I'd strongly suggest someday discussing and confirming in advance directly with your offspring that they would, in fact, even WANT you to pass that ownership along to them.

Different generations sometimes look at fixed week timeshare ownership in very different ways. I've met many people who sold such ownerships later in life because their children clearly wanted no part of the (ever growing) annual maintenance fee obligations and /or the somewhat confining restriction of mandatory dates for the use. One of the timeshare weeks which I own was purchased from just such an offspring, who was "left" with a timeshare he wanted absolutely no part of. I bought it from him for a fraction of the price his parents could have sold it for and used that money while they could, if they had only known he had no interest in it whatsoever.

As you said, people have different reasons and different views regarding timeshare ownership. Just don't assume that everyone looks at inheriting a timeshare as a "gift". Some folks actually regard it as an unwelcome burden and responsibility, involuntarily placed upon them without their choice or input...

Ken I have to agree with you !

As much as we love our Ridge Tahoe and our daughter loves going up for a few days she wants no part of owning and the hassles.

She has seen me for years list exchanges and wait and wait to see where we were going. In early years where we stayed was never where we asked for exchange.

She has seen me book Hawaii full trip in beautiful hotels and air/car in a matter of minutes and loves the hotels. Same thing with Disney World Hotel and we picked hotel we wanted and not some exchange company.

I think in later years when she has kids then timeshare resorts would fit but not when there young adults.

I was same way when young in that I didn't want to stay a week any place.

Our DD would rather stay at Harrah's or Harveys in Lake Tahoe few nights and with all the free comps you can stay free many times a year.

I was same way and stayed at Harrah's Tahoe and Reno most trips over the last 40 years until buying the Ridge.

Now even for short trips we stay free or one night free in Reno at Altantis or Peppermill or Harrahs with free shows and some meals.

Peppermill just had their grand opening of the new hotel section they built and we were given three free nights in the new rooms,dinner and gambling chips worth $200 for wife and $200 for me and its hard to beat that deal.

We still drove one hour up to Lake Tahoe for the day just like when we stay at our resort.

PHILL12

Oh I most definitely have talked to them about it (they're older teenagers);it's at a beach where they literally grew up,so they know the area and love it and the attractions. But I've also mentioned,should they want to sell it,they are welcome to,and the websites I included are this ones and a couple others similar that have a good reputation. Phill12,may I ask,were their any requirements for the free comps you received?thx.

sandrak122 wrote:

Phill12,may I ask,were their any requirements for the free comps you received?thx.

You need to use your players card in the slots or show when playing tables or keno games for credits.

We probably go to the clubs four or five times when spending our week in Lake Tahoe. We also take trip up to Reno when in Tahoe and have breakfast or lunch and play poker slots for a while to keep our card good for those comps.You don't need to gamble a lot but you do need to have card used normally once a year to keep it good.

We get free comps all the time and dump many because we can't get away to go up.

We like to take short two or three day trips up and get comped at Harrah's Reno and Lake Tahoe or Harvey's in Lake Tahoe.

We also get free nights at Reno's Peppermill or Atlantis plus free meal and free chips or free games so you are always getting something to off set your trip.

Everytime you play something it adds up. When we stayed three nights free at the new Tuscany Towers grand opening at the Peppermill we saved about $500 in room cost plus they gave wife $200 in slot play and I had $200 in slot play too. Also free dinner one night.

I have been going to Harrah's for about forty years and won $22000 at breakfast about fifteen years ago. I again won $16500.00 at breakfast at Harrah's in Lake Tahoe about ten years ago so you can have fun,win and get freebe's.

Of coarse people that are not close to Reno,Tahoe or Vegas don't have this option as much but it still adds up.

Just remember anytime you gamble have your card and use it.

PHIL

I'm trying to gather info. If I was a member of Redweek would I need RCI?

Thanks mid

christinek150 wrote:

I'm trying to gather info. If I was a member of Redweek would I need RCI?

Thanks mid

Redweek is just a website for listing your timeshare (or points) for sale or for rent. It used to have an exchange feature but that has been engulfed by Dial-an-Exchange (daelive.com).

RCI is, for the most part, an exchange company . So, if you're a member of Redweek for the purpose of listing your timeshare for rent or sale, then, NO, you do not need RCI.

christinek150 wrote:

I'm trying to gather info. If I was a member of Redweek would I need RCI? Thanks mid

No, if you outright own a week of timeshare and it hasn't been deposited/exchanged with RCI or II then it's yours to do as you please.