Original Message:
Re: BUYING DEVELOPER vs RESALE (typical scenario) (by Mike N.):
bonniea16 wrote:========= Bonnie has provided some great insight. Orange Lake has their own Point system for exchanging into other Orange Lake properties (see orangelake.com). If you bought an Orange Lake property resale, you probably would not be in their internal point system, though the resort might allow you to join at a later date (for a fee). Orange Lake is also an RCI Points resort and this uses a different point system. Either system gives you flexibility for exchanges since you can take smaller units or trips of less than or greater than 7 days. If Orange Lake recently converted to RCI Points, then if you bought resale, the unit would revert back to a traditional ‘weeks’ resort. You’d have to pay another fee to convert it back to RCI Points. My suggestion, your first TS, is to buy where you want to go every year. If you don't want to go to the same place every year consider a biennial unit. Buy a 2 bedroom unit (I like a lock-off feature) and be sure the unit you purchase can be used for the dates you want to travel. Some units have limited usage, for example a "value week" probably would not include school vacation periods. Buying a high demand week may be a bit pricier, but there will probably be more exchange availabilities and it might be easier to rent or sell in the future. A word of caution. Don't fall into the RED week "trap". All of Florida is considered RED time. But, there are various shades of RED (spring break is in much more demand than the last week of January). Just because you own RED in Florida, doesn't mean you can exchange into a week in Hawaii. It doesn’t mean you can’t, it just might be more difficult (and frustrating).Buy resale , float weeks 1-52 or prime weeks, buy into resorts that have alot of amenities like Sheraton Vistana Resort or Orange Lake (as an owner you can upgrade to a 3 bedroom if available). First of all you can rent these out if you don't use your weeks, secondly you can sell them at either what you paid or more you won't loose.I own 3 resales and would NEVER EVER buy new. I have had endles vacations with my family all on resales or just exchanging with RCI.. If you are willing to pay $25000 for one then I would buy 1 at Sheraton- 2 bedroom -Float-Lakes or Cascades, your 2nd at Orange Lake- EAst or WEst Village Studio( you can exchange to a 2 or 3) and one at Hilton 2 bedroom-all floats. These 3 should only cost you a grand total of about $7000.00 maybe or less.. This way you get around that 1 in 4 year rule where you now you can go anytime as owners are exempt. Orlando is my second home I am there 4 times per year and have stayed in all of these with friends and family and the reviews are 5*. If you join RCI then buy smaller units because you can exchange to large ones and you will save on your M-Fees and also on your purchase price.. Any questions you can email me . ADvise -Don't buy new buy resale!
If your willing to spend a bit more (even for resale), you might want to check out the Disney Vacation Club. They also work on a point system, but that is my extent of my knowledge. Marriott also seems to be a good choice, but I think maintenance fees for both of these tend to be higher than average.
There is a lot of information on this site and at TUG. You’re doing the right thing in doing your homework now. Good Luck Mike