I can’t afford to take a vacation! In this economy how can we go on vacation? Where has all my money gone– NO vacation this year!
We hear these statements frequently from friends and family and would like to discuss some of the ways you can take a cheap timeshare vacation every year. You need it and deserve it!
First, let’s talk about buying a timeshare week. Do NOT purchase a week from the developer, as they are very expensive and you will get very little of your money back when you go to sell. We have bought several of our timeshares off eBay. You need to follow several auctions that are going on and only bid on ones that are using a closing company.
The closing company will take care of everything needed for the closing and the transfer of the deed. They will hold the money in an escrow account until you have the deed, before they will release money to the seller. Also, expect to pay a closing fee of around $300.00 to $500.00; sometimes you can split this with the seller. We also call the resort on any listings we are interested in (before we bid) to make sure it is a free and clear week with no back taxes, special assessments, etc.
You can also check with friends, co-workers, etc. in reference to weeks they are not using. Perhaps they would be interested in selling. Right now, with the poor economy, people are even willing to give a week away for free just to get out from under the maintenance fee. You can also talk to a resort and possibly pick up a week that is in foreclosure.
Look closely at the maintenance fees that you will be required to pay every year. Our cheapest one-week maintenance fee is only $411.00 per year. Some can run over $1000.00 per week. This makes a week fairly expensive if you are trying to take a cheap vacation. In the long run you will save a lot if you can get a week with low fees, and if the week trades well (if it is in a good location) you can trade into more expensive resorts.
Once you have a week, you can begin to plan your vacation. If you bought a fixed week at a resort, you simply go to the resort the week that you own and enjoy your vacation. If you want to trade the week, you need to join RCI or II to trade– which one will depend on the resort you purchased at. You can then trade your week to go to different resorts and/or at different times of the year. You can often take a one bedroom week and trade it for a larger unit. We just recently traded a studio for a three bedroom in Myrtle Beach during spring break, using RCI.
If you bought points in say, the Wyndham system, you can trade these points through RCI for another week. You can also use your points to stay at any Wyndham Timeshare and they have a lot of resorts all over the country. You use more points for weekend stays vs. weekday stays. You use more points for a larger unit, like a three bedroom, vs. a small unit, like a studio. Finally, you use more points for travel in a high demand season vs. off-season. So look at the resorts and plan to get the most out of your points.
Now that you have your vacation scheduled, let’s cover some of the ways to save money on your cheap timeshare vacation. First of all, if you drive, it is almost always cheaper than flying and renting a car. Sometimes you have a large enough unit that you can invite friends along and charge them to cover some of the cost. Also, because most timeshares have a kitchen, you can save a lot of money by fixing meals rather than going out for every meal. We usually do a little of both, which cuts costs.
Most timeshares have excellent amenities, so you can save money by enjoying the resort rather than spending money on local attractions. The resort usually provides activities for kids, and that helps out with planning entertainment. In addition, they frequently offer discounts to area attractions or activities that also save money. Many resorts offer tours of the area or sights, and they provide transportation for a fee. Instead of paying so much per person to do this, simply drive your group to the site and tour by yourselves.
We travel a lot and enjoy cheap timeshare vacations. You can too!
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