Wyndham Ocean Boulevard Resort Myrtle Beach 168 000 Biennial Points Timeshare | eBay

some questions--
1. what do the 'points' mean?
2. looks like the seller is paying for all the closing expenses, so the only expense for me is the winning bid plus the annual maintenance fee ($500).


so this looks like a really good deal. there are currently 25+ bids on it where all the other timeshare listings have none.

bottom line seems to be - for around $500 per year, I can have a place at the beach for a week which is hard to beat.

What am I missing?

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Ben
1987 190d 2.5Turbo

ok it does say 'biennial even year'....i assume that means i can only use it on 2014, 2016, 2018 but I still have to pay the annual maintenance.

So it really costs $1000 per week which is about what it costs anyway so it's really not that great of a deal.

still wondering about the points though.

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Ben
1987 190d 2.5Turbo

My inlaws have a share through Wyndham. Very very nice properties.

IIRC the points are your currency in the plan. You have X number of points each year by which property you own.

So lets say you own your timeshare in Washington DC and you have 100 points. You can use those points at any Wyndham property anywhere in the country. But since you own at Washington, staying there costs you less points.

Staying at any location might be a different number of points per night and some might have a minimum three day stay. If you run out of points or require more points you can buy extra just for that year.

Like I said before the locations are really nice. My inlaws bought three different ones so that when they die they an pass along one to each of their children. Each year they try to get the whole family together for at least a short trip, and everyone stays for "free" in a suite. They gave my wife and I enough points to stay a week in Daytona beach for our honeymoon. We got a two bedroom suite right on the beach.

One of the only annoying things is the promotions they try to get you to go to. Almost every time you stay you'll get a phone call to your room asking you to attend some sales pitch. Usually it's something like "look at this presentation for two hours and you get $65 to go get a dinner". I've taken them up on it once and a nice steak dinner was definitely worth it.

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With Craigslist apartment-swap and AirBnB being very popular, I'm not sure if timeshares are worth much these days.

I can't speak to Florida, but a grand (read $150/nt) a week can rent you a lot of hotel room in interesting/fun areas if you do a bit of planning. San Diego County, Maine, whatever.

Timeshares are not a very good value. The one place they score ahead of merely renting a place when needed or desired is the possibility of being able to deduct the mortgage interest expense from your taxes. This deduction is not always a possibility.

That said, I’d just rent a place when needed rather than being a partial "owner" of a time share.

as usual, this forum provides awesome advice.

doing the math, it is better to rent-as-needed.

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Ben
1987 190d 2.5Turbo

Or buy an actual condo which you lease in one-year increments, use it for a month, re-lease it to someone else. In the right area, you should be able to find a tenant within days.

My ex and I bought into a BlueGreen timeshare points about 8or9 years ago. Thank goodness, she agreed to take it.

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daw_two
Germantown, TN

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