Looking to be a timeshare owner

[MamaOZ]

Good evening,

My husband and I are looking to be timeshare owners. I found a deal in one of the websites recommended by Tugbbs.com. The deal is for 7,000 platinum points (floating/high season)deeded annually for $7,500/MF of $1,087.80. It is for a 2 bedroom, 2 bathroom with a kitchen. We are struggling through trying to figure out what is a good deal. Can you tell us if this is a good deal?

My husband and I travel to Florida to see the kids and grandbaby a few times each year. We want to make the most of our money and stop wasting it on hotel costs. At some point we would like to use the points to go to Hawaii. Any help you can give to understand this process is greatly appreciated. Thank you.

 

[hurnik]

Hello,

Probably the first thing is where is this 7k 2BR unit located at? (the name of the HGVC resort) like
HGVC Las Vega Strip Blvd
HGVC Flamingo
etc.

 

[MamaOZ]

HGVC SeaWorld Orlando Florida

 

[GT75]

I will try to give you my opinions. Here are the positives as I see them:

1. Platinum season is good because lower MFs/points
2. Rule of thumb price is $1/point for platinum season. $7500 for 7000 points is a little more but in the ball park.
3. It sounds like you are planning to use this resort often. I always think that it is best to buy where you plan to go most often.
4. Probably most important, buying resale.

Wash
1. MF of $1087 for 7000 is $0.151/point. This is I would say is average.

Negative:
I have actually never traveled to either Orlando nor Vegas (overbuilt and I have really no desire to visit. I know that others love both places. So this might only be me.) But you may find the following thread helpful concerning SeaWorld and Orlando. (http://tugbbs.com/forums/index.php?threads/hgvc-seaworld-and-hotels-com-booking-com.253587/)

btw, did you mean "Garden" in your resorts owned tagline?

Good luck on whatever you decided. Hopefully others will also give their opinions. Even better, if they differ from mine.

 

[Talent312]

I own at SeaWorld. IMHO, that is a reasonably good deal.
It'll prolly pass HGVC's ROFR option, but not by much.
A significantly better deal, they might take.

.

 

[Berea1]

Form a subS corp or an LLC for a couple of hunred dollars, so you can sell it later to someone else or give the shares away to a relative. Orlando is overbuilt with so many Marriots, like Sabal Palms or Royal Marriotts so many are just walking away. When someone lists that they are giving away a Marriot Sabal Palms or a Marriott Royal Palms, take it in the name of the corporation. Then you join Interval and have the ability to buy getaways, with a lot of the other Marriotts available such as Grande Vista. So with just one yearly maintenance fee, you have access to a lot of Orlando Marriotts thru out the calendar year!! Pat

 

[MamaOZ]

I will try to give you my opinions. Here are the positives as I see them:

1. Platinum season is good because lower MFs/points
2. Rule of thumb price is $1/point for platinum season. $7500 for 7000 points is a little more but in the ball park.
3. It sounds like you are planning to use this resort often. I always think that it is best to buy where you plan to go most often.
4. Probably most important, buying resale.

Wash
1. MF of $1087 for 7000 is $0.151/point. This is I would say is average.

Negative:
I have actually never traveled to either Orlando nor Vegas (overbuilt and I have really no desire to visit. I know that others love both places. So this might only be me.) But you may find the following thread helpful concerning SeaWorld and Orlando. (http://tugbbs.com/forums/index.php?threads/hgvc-seaworld-and-hotels-com-booking-com.253587/)

btw, did you mean "Garden" in your resorts owned tagline?

Good luck on whatever you decided. Hopefully others will also give their opinions. Even better, if they differ from mine.

Thank you so much for the helpful information. I greatly appreciate it and you have given us something to think about.

 

[MamaOZ]

I own at SeaWorld. IMHO, that is a reasonably good deal.
It'll prolly pass HGVC's ROFR option, but not by much.
A significantly better deal, they might take.

.

Thank you. I heard about the ROFR. Wasn't quite sure what Hilton uses to determine when they exercise this right and when they won't.

 

[csodjd]

Thank you. I heard about the ROFR. Wasn't quite sure what Hilton uses to determine when they exercise this right and when they won't.

They exercised on me a couple of years ago. Hilton Hawaiian Village, Oahu, Lagoon Tower. 1-bedroom ocean view (the 1 Bd Plus, 6,200 points). At $13,000 they exercised their right. I ended up buying for $16k. By comparison, now a few years later, I just purchased 8,400 pts (a 2-bd Plus), same location, for $15,500 and it passed.

 

[tompalm]

The nice thing about Hilton is they have lots to offer in Florida. You can trade for a place at the beach, get a theee bedroom and have the grandkids and family spend time with you on the beach. Lots of Hilton properties in Hawaii, but difficult to get on Oahu. The big island is easier to trade for, but Oahu can be done if you plan nine months in advance. 7000 points should work fine.

 

[csodjd]

The nice thing about Hilton is they have lots to offer in Florida. You can trade for a place at the beach, get a three bedroom and have the grandkids and family spend time with you on the beach. Lots of Hilton properties in Hawaii, but difficult to get on Oahu. The big island is easier to trade for, but Oahu can be done if you plan nine months in advance. 7000 points should work fine.

Their maintenance fees are also about half of Marriott's. And all points are equal in that, all owners can reserve at their home location 12-9 months ahead, and all others 9 months or sooner. There is no group that gets access earlier because they have more points or higher priority, unlike Marriott.

 

[SmithOp]

They exercised on me a couple of years ago. Hilton Hawaiian Village, Oahu, Lagoon Tower. 1-bedroom ocean view (the 1 Bd Plus, 6,200 points). At $13,000 they exercised their right. I ended up buying for $16k. By comparison, now a few years later, I just purchased 8,400 pts (a 2-bd Plus), same location, for $15,500 and it passed.

You can't judge ROFR by Lagoon, inventory is very low there and resale units fetch a premium. Much easier to pass in Vegas or Orlando where Hilton has plenty unsold units.


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[csodjd]

You can't judge ROFR by Lagoon, inventory is very low there and resale units fetch a premium. Much easier to pass in Vegas or Orlando where Hilton has plenty unsold units.

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Certainly agree. Though it appears that their current ROFR threshold at Lagoon has gone down over the past few years.

 

[GT75]

They exercised on me a couple of years ago.

Can you add to www.rofr.net?