Lock-off units - more room, more weeks

What is a lock-off unit? Sounds like we're talking about a gear box or jail cell block. It is really a two bedroom timeshare unit where the second bedroom is an efficiency unit with a full bath and kitchenette. It's like a hotel room with its own balcony and kitchenette. Each year you have the option of separating or "locking off" the efficiency from the rest of the unit, referred to the master suite. This allows you more flexibility in several ways.

First, you can occupy the whole unit. It offers the most room. Residents of the efficiency have a little more privacy. They have access to the kitchenette and a separate outside entrance. Out until 3 am or rising at 5 am? No problem in disturbing the master suite occupants.

Second, you can lock off the unit by declaring it separate from the master suite. Then you could occupy it at a different time from the master suite. You therefore have two weeks of occupancy at the same resort. It could be two weeks together or two weeks at different times. Cool, huh?

Third, you can exchange the lock-off for occupancy at another timeshare resort. The end result is the same - two weeks - one for the efficiency one for the master suite. Finally, if you are occupying a two bedroom unit, you could trade to obtain an additional efficiency at the same resort. That creates a three bedroom suite. It takes some doing, but it can be done. Now you have room for more people, along with some degree of privacy for occupants of the efficiency units.

Lock-off units offer great flexibility and more potential weeks of vacationing. What is the downside? Not much. You may end up with more weeks than you have time to use. Weeks at resorts with lock-off units may be a little more expensive, but that is not always true. And, many resorts to not have that feature.

We have a lock-off platinum timeshare week at Marriott's Ocean Pointe resort in the Palm Beach area. It's great. We have locked off the unit in many years. Typically we occupy the master suite and deposit the efficiency with Interval International, our exchange company. The efficiency trades well. We have exchanged into 2 bedroom units at other resorts. This year, for example, we're staying at Grande Ocean at Hilton Head in October by trading a locked off efficiency unit.

So many options, so little time. It's fun to maximize your timeshare experience, and lock-off units are one way to do that. Have fun.

Exchange that week!

Near Hilo, HI February, 2009
Maui, February, 2009


We begin planning each year's timeshare stay about a year in advance. That gives us plenty of time to go where we want. Last February's trip planning for Hawaii started in February, 2008. If you are more flexible on your timing and destination, then short term exchanges can work well. We're not as flexible because of our work schedules.

This time we are trying to exchange to a resort we don't own - just one more way to maximize your timeshare enjoyment. Our target destination is Marriott Surf Watch resort at Hilton Head. It is fairly new, and has a beautiful setting along the beach with a lake and lots of amenities. Our daughter and her family are staying at Marriott Harbour Club, also in Hilton Head. They own a platinum week (summer prime time). Their reservation is in mid-June, 2010. Our mission is to exchange our gold week (spring/fall)at Harbour Point for a platinum week before or after their Harbour Club week. That way we can stay for up to 2 weeks and enjoy a week at a resort we've not visited before.

The challenge here is to exchange a lesser value gold timeshare week for a platinum week. Can it be done? The answer is an unequivocal maybe. We have done it several times before with other resorts. It should work if we are patient. Where to start? We are members of Interval International (II) exchange firm. Dave goes to their web site and log in. Hit the exchange tab. Key in the desired destination, dates, and the week that we are offering in trade. The result of the search is that nothing is available now. Not surprising. That is a prime week in a prime destination (Hilton Head). Also, we have been very restrictive in our selection - only 1 resort and for just two particular weeks. The greater the flexibility the greater the chance of finding a match.

Now what. We will enter a request. That way, II continues to search for available weeks as owners offer their weeks in exchange. So, I key in the information. But...a glitch occurs. After going through process at least 6 times and burning up 20 minutes, the request is not accepted. The "continue" button is grayed out. Dang. Not sure why. Such things happen; patience is a requirement. Today for some reason my patience quotient is unusually high. So, I called II, placed the request by phone, and found out why the web process did not work.

We'll wait and watch for several weeks. If the request does not fill, we can broaden our search by adding other resorts and/or travel times. For example, the II system says the week we want is available at Harbour Club - the same resort where my daughter's reservation is. If we ultimately have stay somewhere else, we could try to trade in to Surf Watch at a different time when demand is lower - like May or October. Hilton Head is great at those times, except our family could not joint us because their kids are in school. There are always trade-offs.

It's all part of the great timeshare adventure. Invest your time wisely and creatively and you'll continue to build wonderful memories as you maximize use of your timeshare week(s).

Buying the right timeshare II

In the last post, we talked to you about buying a timeshare. It is a major purchase for most of us. Buying right will help you maximize your enjoyment without causing financial stress. How do should you make the right decision?

Common sense, our parents, and some practical-minded spouses say you should review all of the facts before deciding to make a purchase. How boring. Isn't it more fun to be spontaneous, make the impulsive purchase, live on the edge, and chase all the dreams that the sales people assured us will be there if only we say...YES? Yet we all know that's not the way to make good decisions.

There are two primary ways to buy timeshares: from the company (Marriott, Hilton, Wyndham, etc) or from a third party - timeshare reseller, Ebay, etc. Let's talk about how Suz and I have handled these approaches.

First,you can buy from the company , often through a sales presentation. For Suz and I that usually occurs while vacationing. We're busy, relaxed, having fun away from the daily grind - meaning that we are not all that rational. At the sales pitch (that is our term) you will be barraged with loads of information in a short time. You are challenged to process all of the information,sort out hype and wishful thinking from reality, and decide on the spot. Don't get me wrong, some sales presentations are beneficial. Many sales peoples are experienced professionals with many years experience. We always make a point of asking lots of questions and have learned much useful information about timeshares. But some sales programs are shamelessly high pressure and manipulative. Also, any sales person is paid to sell, so there is some measure of persuasion to buy. Sales incentives and special pricing offered that day only add to the urgency of deciding.

At our first sales pitch, we were inexplicably logical in our reaction and said: Bill (our sales guy), we need time to think about all this. Thanks for your time, we'll get back to you. We left. So began what has become a standard practice for us: the 24 Hour Rule. We advise that you use same rule. Tell them you will think about it, thank them, and leave.

Now you can collect your thoughts and talk it over with family. Take time to do the more thorough review of the pluses and minuses. Is it the right resort, company, season, floor plan, location, price? Does the family like it? Evaluate travel distance from your home. Can you afford the purchase now? Call the sales person if you have unanswered questions. Then...sleep on it. If the answers are the same the next day, you can decide. If it's yes, call back and complete the transaction. The only downside to the 24 hour rule is that you often lose the same day incentives. That is an acceptable give-up for us. But, you could use a modified 24 Hour Rule by making your decision later the same day. That works best if you attend a sales presentation early in the day. We usually do that, so that we minimize interruptions to vacation activities.

Second, you can purchase weeks through third parties such as a timeshare reseller, ebay, or classified ads. This buying channel is usually cheaper than buying through the company where the price is higher to recover overhead expense and non-negotiable. Sellers are more likely negotiate, and buyers have more choices giving them a stronger negotiating position. The third party approach does require more homework. You will need to know ahead of time exactly what you want. Research seller channels - talk to resellers, visit web sites such as ebay, and look at classified ads in travel magazines or newspapers. Know what range of pricing you can expect. Then select the specific source you want to use. Decide which offers you want to respond to and what price you will offer. Then be prepared to wait and possibly make multiple offers.

The only downside with the third party method is that you may give up some benefits available if you purchase through the company. Weeks bought through Marriott, for example, allow you to give up your week for a given year and receive Reward points which are redeemable for air travel and lodging. That gives you another valuable travel option. A few owners have bought company weeks and redeem them for points every year (or every other year for many units). You might also miss out buying at new resort if you want immediate use of the units. Why? Because reseller inventory at new resorts will be limited until there are more owners who want or need to sell.

We bought a week at Harbour Point in Hilton Head through a reseller. We got a great deal and found that it exchanges very well. The other three weeks we bought from the company. For those we can enjoy the Reward points alternative.

Buying can be fun, but deciding not to buy may be equally rewarding if it is not right for you.
Good luck and remember to maximize your Timeshare once you own it.

Buying the right timeshare

What has buying the right timeshare got to do with maximizing your use of it? Plenty. Buying the right (for you) timeshare means you’ll be able to enjoy it more: it will be in the right season, good location, be with a quality company, have the amenities you like, and have good exchange power. Buying at the right price means it won’t be a financial burden and may allow you to add additional weeks from time to time.

Here are the maximizing timeshare factors for purchase:
v Start by making a list of the your family’s vacation/recreation preferences - what, where, who, how, etc. Don’t forget the practical questions – such as travel distance, proximity to family, and your travel budget. Involve the whole family. And think about other family or friends that may vacation with you.
v Location, location, location – that is the mantra for real estate. For you, location means the timeshare resort setting and community. Is it on the beach, in the mountains, desert or tropical, near other resorts, urban/rural, in a particular region or country? Pick a location that matches well with your interests. If you have an absolute favorite place that you expect to visit often, buy there. If you prefer a variety of vacation settings, then focus on resorts that have good trading power so you can more easily trade (aka exchange) into other resorts.
v Location within the resort. Many resorts have units in 2 or 3 view classifications. Prime views (for example an “ocean front” view at a beach oriented resort) are the most expensive but tend to trade better and they have higher resale value. However, if the view is not a big deal for you, then a week with lesser view is more affordable.
v Season – each resort has prime time seasons (when demand is highest) and off season times. Buy a week in prime season if you can, especially if that is your prime vacation time. It will be more expensive but will give you better value. You’ll be able to use it in the prime season. It will also give you better trading power and resale value. The timeshare or exchange companies can tell you about the seasonal demands – typically expressed as a color code - for each resort. But, remember to match the season with your own preferences. If you like the mountains in summer or walking the beach when the crowds are gone, then a less prime season may be a better fit for you. As a bonus, the off-prime season weeks are less expensive.
v Price. There is a careful balance between price and value. You usually get what you pay for. Be sure that you can afford the purchase. But don’t scrimp on price if it sacrifices your preferences. This purchase will be important part of your family’s vacation experience.
v Preparing to buy: here is the drill.
o Set a budget on what you can afford to spend or how much debt you can take on, if you finance the purchase. Know what the maintenance fees are; you have to live with those every year.
o Know your preferences on season, location, setting, etc.
o Decide if you want to purchase through a timeshare reseller or from the timeshare company itself. This will be the topic for a future message.
o If you attend a sales presentation from the timeshare company, talk and plan ahead of time. What questions do you have? Is the resort a good match for you? How you will decide whether to buy or not? Stick to your discipline. The sales presentation can create pressure (from the sales person or your own excitement) that is hard to resist without that discipline.

More next time about making the right purchase. Meanwhile, maximize your timeshare for family fun, enjoyment, and relaxation.

Planning to Maximize Your Timeshare Weeks Each Year

Our timeshare weeks are a source of great enjoyment for us and our family. But maximizing that enjoyment takes some planning. This post will discuss how we, Dave and Suz, plan our weeks each year. Don’t procrastinate on this; as the saying goes – if you don’t know where you’re going, you’ll never get there.

You’ll need to schedule some of this as long as a year in advance. Seem too far in the future? Well, not every timeshare aspect needs to be planned this far ahead. But some do. That’s OK for us; it forces us to make the necessary arrangements. It also allows to schedule other events around those future timeshare dates to eliminate potential conflicts.

We own four weeks; three are gold weeks (spring and fall) at resorts on Hilton Head Island. One of those is a fixed week at Harbour Point purchased through a timeshare reseller. Here is how we plan our weeks:

• We automatically deposit the Harbour Point week with Interval International for later exchanges to other resorts. I recently suggested to Suz that we consider occupying Harbour Point once because we have never stayed there. But she likes the other resorts better. So far it’s worked because that fixed gold week trades very well.



• That leaves two other weeks on Hilton Head, at Harbour Club and Barony Beach Club to be planned out. Each year, we turn one of those weeks in for reward points which can be redeemed for airfare miles and hotel lodging at Marriott. Generally, two years worth of reward points from our deposited timeshare weeks allow us to take a major trip – at no cost for airfare and lodging. It is a fabulous benefit – more in a future message on that. This past February, for example, we spent a week on the Big island at Marriott’s Waikaloa resort and a week on Maui (see picture below). Wow.



• We generally occupy the third week at either Harbour Club or Barony Beach Club on Hilton Head, whichever is not deposited for Reward points. Our season in the Marriott system is gold. So, we can pick weeks in the spring and fall. Our preference is May – with pleasant weather and slower pace than the busy summer months. This year we stayed at Harbour Club in early June so our daughter, son-in-law and three grandkids could join us.



• That leaves our platinum week at Ocean Pointe in Palm Beach area. We often deposit that with Interval International because of its strong trading power for exchanges to prime destinations. It also has the lock -off feature, meaning that the second bedroom referred to as a guest suite since it has a limited kitchen) can be separated, or “locked off” from the master suite. Use the lock off feature and voila’ - you get two units for the price of one. This year we decided to occupy the master suite for a week next February and deposit the guest suite with Interval International. Palm Beach in mid-February... I can't wait.
  

Everyone will have different interest, approaches, and priorities. The main thing is to “Just Do It” – It being whatever is necessary to make sure you maximize your use and enjoyment of your timeshare units – whether you own one week or ten. Share your ideas with us!

Gotta go. Talk later. Dave and Suz

Why we invested in a timeshare

We started our timeshare adventure in 1989. It helped that we visited Hilton Head which was even then a family favorite. We had vacationed there for several years. But vacations had become sporadic after one year when no less than 3 of our party went to the emergency room, and Suz was admitted with pneumonia. We received a mailing offering a free visit if only we attended a timeshare sales presentation. Off we went.

There we heard what we now refer to as a timeshare “sales pitch.” Bill the sales guy regaled us with details of timeshare ownership with Marriott. We saw the facility; it was beautiful, right in the middle of tranquil Sea Pines Plantation and Harbour Town. Our two children were excited; we were excited.

Then there was the financial reality: Bill invited us to plunk down $14,500 for the privilege of enjoying the timeshare experience for one week each year. And then there was the annual maintenance fee that went on forever. Hmmmm. Suz and I became very pensive. We looked at each other, each of us wanting to say yes but assuming that the other was thinking “no way will we throw money at this boondoggle.” Almost by accident we began what has become a standard practice for major financial decisions: the 24 hour rule. That rule says don’t make any big decisions on the spot, think about it for 24 hours – then make the decision. We told Bill that.

We left the sales pitch buzzing with excitement and questions. I am an investment professional and hopeless left brainer. I do things by the numbers. Suz is cautious but much more right brained, thinking first of the people/family impact. So, I did the numbers – amortizing the proposed investment, factoring in the maintenance fee, and comparing that to condo rental rates. The numbers seemed to work. Great.

I also did the worrywart analysis – like what could go wrong with this investment. The prevailing perception of timeshare at the time was high pressure sales, shoddy construction, inept management, algae-choked swimming pools, and the like. And this project was only on the drawing board – preconstruction. Fortunately for us, Marriott’s role made the difference. We figured we could trust a top lodging company to build and maintain a quality facility.

Suz liked the idea of family vacations and being in warm, sunny climates more often. She refers to herself as “solar powered.” I felt the same way. And I wanted us to enjoy vacations more regularly. This would force us, if you will, to make our plans and enhance our family vacation experience. We went back to Bill and said YES (that would be pronounced "YAYUS" here in Appalachia").

It was one the best decisions we’ve ever made. Timeshare ownership has a truly rewarding family experience. We endlessly recount prior experiences, mishaps, fun times, and memorable quotes from our timeshare vacations. We have since added more weeks to our timeshare portfolio. Kids, grandkids, grownups, in-laws, outlaws, and occasional “significant others” have enjoyed our timeshare havens. And each year we learn more and occasionally do more. If only we had more TIME. Dang.

Gotta go. We'll talk later. More in the next post about how we maximize our timeshare.