Understanding timeshares and vacation clubs

[foodiepersecond]

I recently got back from my trip to Orlando with the boo to celebrate our anniversary . We arrived there due to a BlueGreen Resort offer in which we had to view their program. We also ended up looking at a Latitudes Vacation Club program to score some cheap Disney tickets. Both kinda offered similar items (cheap hotels and points) but had their own costs and fees. It almost looks like a good hustle if I can sell my rooms to other people for profit and have them pay off the fees and such. With Bluegreen, I would actually have a deed and I've heard horror stories about some of that side of things. Latitudes asked for a higher input amount, but only have a cheap maintenance fee. I was curious if anyone here has experience with these. Hoping to hear some words of wisdom from @JScott.

 

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[Suzanne Bazemore]

I recently got back from my trip to Orlando with the boo to celebrate our anniversary . We arrived there due to a BlueGreen Resort offer in which we had to view their program. We also ended up looking at a Latitudes Vacation Club program to score some cheap Disney tickets. Both kinda offered similar items (cheap hotels and points) but had their own costs and fees. It almost looks like a good hustle if I can sell my rooms to other people for profit and have them pay off the fees and such. With Bluegreen, I would actually have a deed and I've heard horror stories about some of that side of things. Latitudes asked for a higher input amount, but only have a cheap maintenance fee. I was curious if anyone here has experience with these. Hoping to hear some words of wisdom from @JScott.

Happy anniversary, @foodiepersecond! The thing about vacation club memberships is that you don't have control, and your financial situation changes over time. I didn't want to get into anything that I couldn't get out of.

 

[foodiepersecond]

Happy anniversary, @foodiepersecond! The thing about vacation club memberships is that you don't have control, and your financial situation changes over time. I didn't want to get into anything that I couldn't get out of.

To what extent do we not have control? They advertise it as they can look at something peak time, say New Years Eve in NYC, and you can get great hotel deals for that time while accumulating points.

 

[Bekit]

Just to clarify, are you looking at selling vacation club memberships, or buying one for yourself?

 

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[Suzanne Bazemore]

To what extent do we not have control? They advertise it as they can look at something peak time, say New Years Eve in NYC, and you can get great hotel deals for that time while accumulating points.

I don't own a timeshare, and I'm sure you will do your own due diligence. When I googled Bluegreen I found this. They have some interesting points.

Secrets Blog | Bluegreen Timeshare Secrets | What they don't want you to know!

I don't know what your financial status is, or if you intended to finance, but I don't believe in financing things, especially if they are unnecessary, but maybe you weren't planning on financing, anyway.

By control, I mean primarily: what if you get into a financial situation that requires you sell your timeshare. From what I read on that link above, you practically have to give it away because the 2nd owner might not have the same rights as the original owner. All things considered - cost of the timeshare, maintenance fees, cost to transfer points - does it workout to be a good deal for you financially? I don't think they usually do, and I never wanted to get locked in to a particular type of vacation or staying at a particular place, because my interests and finances change over time.

 

[foodiepersecond]

I don't own a timeshare, and I'm sure you will do your own due diligence. When I googled Bluegreen I found this. They have some interesting points.

Secrets Blog | Bluegreen Timeshare Secrets | What they don't want you to know!

I don't know what your financial status is, or if you intended to finance, but I don't believe in financing things, especially if they are unnecessary, but maybe you weren't planning on financing, anyway.

By control, I mean primarily: what if you get into a financial situation that requires you sell your timeshare. From what I read on that link above, you practically have to give it away because the 2nd owner might not have the same rights as the original owner. All things considered - cost of the timeshare, maintenance fees, cost to transfer points - does it workout to be a good deal for you financially? I don't think they usually do, and I never wanted to get locked in to a particular type of vacation or staying at a particular place, because my interests and finances change over time.

I see. Thats why the vacation rental sounded better because I payed a higher fee in the begging and then pay a very low and affordable annual fee. I didn't have a deed so I wasn't locked into anything.

 

[AnAverageJoe]

I worked with Club Wyndham as a front desk associate years ago. Based on that experience alone, I would never recommend any type of timeshare.

I was involved in the hospitality side and not the vacation club side, but I saw people come into our lobby crying because their parents or grandparents had passed away, and all they wanted to do was get rid of their timeshare.

Maybe there was some fine print they didn't read that they should have, but they weren't given any help to get out of the timeshare. They were usually just given a phone number and sent on their way. If they were given anything, they were booked on another tour, where they were pressured into buying more points. It's real-life bro marketing.

They also aren't as easy to book as they'd like you to think. And you aren't likely to get that room in NYC on NYE either.

I can't speak for BlueGreen, I might be jaded, and maybe things have changed over the years, but I cringe every time someone tells me they bought a timeshare.

 

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[Scot]

I’m from Florida, I’ve grown up around this stuff.

Dont get a timeshare.

Don’t get a vacation club rental.

The only people who win are the sales reps.

If you really want to do something like this, but houses in Orlando and AirBnB them.

Ps, those “free” vacations you got? You’re going to get hit with a HUGE tax bill at the end of the year for those.