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Old 03-15-2009, 12:50 PM
 
4 posts, read 20,278 times
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Hi,

My bf is currently looking into the timeshares at Grand Summit, Mount Snow, Vermont.

He's been and visited them and says they seem too good to be true.

Before he jumps in and buys one, does anyone on here have any information to dispel the fairytale he's built up?

Any info or advice greatly appreciated

Many thanks

Herbie
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Old 03-15-2009, 08:43 PM
 
Location: on a dirt road in Waitsfield,Vermont
2,185 posts, read 5,608,423 times
Reputation: 1104
Can you be more specific about the "fairytale"?. Mt Snow was bought by a midwestern ski operator from a bankcrupt ASC a few years ago. The new operators have invested in 251 new snow guns and in other improvements and everyone I know who are season passholders say the resort is run very well, a big improvement over the ASC days.
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Old 03-31-2009, 02:42 PM
 
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Hi and many Thanks for posting
he is not a big skier actually but was looking to purchase a 1/4 share to fly over and use all year round. He thinks being able to rent out his weeks or take them elsewhere in the world is very flexible and so fits exactly what he is looking for..
his problem is that it all seems too good to be true and is struggling to find the downside of the purchase.. any idea as to what he should be concerned with?
regards herbs
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Old 03-31-2009, 03:05 PM
 
Location: The #1 sunshine state, Arizona.
12,172 posts, read 14,196,173 times
Reputation: 63973
Quote:
Originally Posted by Herbs View Post
Hi and many Thanks for posting
he is not a big skier actually but was looking to purchase a 1/4 share to fly over and use all year round. He thinks being able to rent out his weeks or take them elsewhere in the world is very flexible and so fits exactly what he is looking for..
his problem is that it all seems too good to be true and is struggling to find the downside of the purchase.. any idea as to what he should be concerned with?
regards herbs
If it is a place that he enjoys and he will use, then he will be happy. A few things to remember, a timeshare is not an investment for financial gain and he will not make money renting out his weeks. He will not be purchasing deeded property but owning a share of time allowing him to use the property. Look on ebay and see how many timeshares are for sale. Some sellers are asking only one dollar just to be rid of it. There are less expensive and less restrictive ways to go on vacation.
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Old 03-31-2009, 08:37 PM
 
202 posts, read 597,263 times
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Quote:
Originally Posted by zonababe View Post
If it is a place that he enjoys and he will use, then he will be happy. A few things to remember, a timeshare is not an investment for financial gain and he will not make money renting out his weeks. He will not be purchasing deeded property but owning a share of time allowing him to use the property. Look on ebay and see how many timeshares are for sale. Some sellers are asking only one dollar just to be rid of it. There are less expensive and less restrictive ways to go on vacation.
Those are great points.

My in-laws have a time share, and if they want to swap to a different resort, they have to pay fees to swap. Added on to those fees are a schedule of fees that are added on if the new resort is in a prime season or location.

Their time share is in the Poconos. We had considered changing resorts and were given a fee and surcharge of close to $500 ten years ago. We would be paying $500 for a resort which was near where we wanted to be, but not quite there. For a little more, we could be in the thick of things. Come vacation time, we didn't want to settle.

Also, there is a yearly maintenance fee assessed on their unit.

Another thing our family has found is that one has to be able to travel within that period if they wish to use their home resort. Some lifestyles and careers don't allow for that.
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Old 04-03-2009, 08:31 AM
 
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Thanks for your replies, it's not strictly a timeshare - was the closest I knew to describe it, now I know more it's a 1/4 share where he gets deeds etc.They seem very restrictive on who can use his weeks (only he or immediate family) though he likes the idea of cashing his weeks in for some at another of their hotels...I'll look into whether the fees are different swapping in prime season - thanks for that atypical...Any more info or advice greatfully appreciated
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Old 04-03-2009, 08:53 AM
 
Location: The #1 sunshine state, Arizona.
12,172 posts, read 14,196,173 times
Reputation: 63973
Quote:
Originally Posted by Herbs View Post
Thanks for your replies, it's not strictly a timeshare - was the closest I knew to describe it, now I know more it's a 1/4 share where he gets deeds etc.They seem very restrictive on who can use his weeks (only he or immediate family) though he likes the idea of cashing his weeks in for some at another of their hotels...I'll look into whether the fees are different swapping in prime season - thanks for that atypical...Any more info or advice greatfully appreciated
If he is using a company like RCI to use his time at other resorts, it's a timeshare. There fees for any transaction plus an annual membership fee with RCI. What is the name of the resort and which company owns it?
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Old 04-04-2009, 12:48 PM
 
202 posts, read 597,263 times
Reputation: 65
Quote:
Originally Posted by Herbs View Post
Thanks for your replies, it's not strictly a timeshare - was the closest I knew to describe it, now I know more it's a 1/4 share where he gets deeds etc.They seem very restrictive on who can use his weeks (only he or immediate family) though he likes the idea of cashing his weeks in for some at another of their hotels...I'll look into whether the fees are different swapping in prime season - thanks for that atypical...Any more info or advice greatfully appreciated
Mount Snow :: Quarter-Share FAQs (http://www.mountsnow.com/re_faq.html - broken link)


It is an RCI holding, but not a typical time share program. FWIW, my in-law's Time Share is with RCI.

My friends own a condo on Okemo. It appears that Mount Snow has a rental program like Okemo's. Owners (or in this case 1/4 share owners) pay into a homeowner's group (yet another regular, recurring charge above and beyond everything else) and also work with a rental office to rent the unit when it is not in use. Being that there's a number of units in the rental pool, a unit's desirability will be impacted by it's location within the facility. The Okemo condo is a 3rd floor walk up, 2 bedrooms, 2 baths, but in a desirable complex. There are nicer units (amenity and location) within that particular complex which often go before their's does. When all is said and done, the rental money usually covers some of the recurring fees.

You have to ask -- is smoking allowed in the quarter share units? If you're a non smoker, and you're sharing a unit with smokers, it is disgusting. Despite signs marked "No Smoking" in my friend's condo, they have found cigarette burns in the furniture, the lingering odor of cigarette smoke.

Something else gross: this isn't your furniture, it's just one step removed from a hotel. Anyone could have done anything on it. Sorry, that skeeves me out!

You still have to pack your bags to go and stay there. You can't leave clothing in the closets and dressers, shoes, ski gear, etc. You have to head out grocery shopping because you won't have anything in the cupboards of your own. I own a second home in Vermont. I can turn off this computer, get in the car with absolutely nothing but my purse, and arrive at my 2nd home where I have clothes, shoes, jackets, food in the pantry, etc., waiting for me.

We thought long and hard about making the decision to buy a house or a condo. Our lifestyle is more house oriented, and by nature I am a private individual who couldn't 'share' my 2nd 'home' with absolute strangers.

Your lifestyle could be the flip side of the coin, so please make of it what you will.
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Old 04-04-2009, 01:04 PM
 
894 posts, read 1,161,961 times
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Craigslist had some slopside condos listed for < 90K. With a little cash to put down that would be pretty cheap, unless they beat you up with fees.
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Old 04-04-2009, 09:21 PM
 
Location: on a dirt road in Waitsfield,Vermont
2,185 posts, read 5,608,423 times
Reputation: 1104
It's called fractional ownership, 13 weeks vs the one or two weeks a timeshare was for. All the resorts are selling units this way, including Claybrook, here at the Bush.

The thing that blew me away is that you don't even get to choose the wall art and are not allowed to put any of your own art on the walls. I guess you can put family pics on shelves or the coffee table but don't forget to remove them when your time is up.
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