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Need Advice Please!

malubob

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I'm looking at purchasing a timeshare at the Hilton Grand Vacations Club on the Las Vegas Strip for 10K points for about $12.5K including the unit, closing costs, etc. Is this a good deal?
 

Aquaman55

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I'm looking at purchasing a timeshare at the Hilton Grand Vacations Club on the Las Vegas Strip for 10K points for about $12.5K including the unit, closing costs, etc. Is this a good deal?

On paper, it sounds great. Who is it through?
 

PigsDad

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I'm looking at purchasing a timeshare at the Hilton Grand Vacations Club on the Las Vegas Strip for 10K points for about $12.5K including the unit, closing costs, etc. Is this a good deal?
Do you know exactly what you are buying? The only way I know to get 10,000 points at that location is to own two 2BR Gold weeks. That means you will have two maintenance fees every year (I think they are running between $800 and $900 per week on a 2BR at that location).

That comes to $6,250 for each 2BR Gold week -- not a terrible price but people have posted that they have done better lately.

Kurt
 

malubob

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It's through a private sale. I believe it is a 3 bedroom unit but I'm double checking on all the details again now. It sounded a bit too good to be true because 10K points annually is selling for much higher on ebay. This is about the price for a unit with 7K points annually which is why I posted on here.

Are there any questions I should ask or recommendations from the team here? This is my first real timeshare purchase and HGVC seems to have a great reputation on here. I bought a spur of the moment timeshare at the Grandview Las Vegas from the developer and cancelled within the 5 day period.

Is title insurance recommended?
 

PigsDad

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It's through a private sale. I believe it is a 3 bedroom unit but I'm double checking on all the details again now.
There is no single week at Las Vegas Strip that is worth 10,000 points. That location is the only one in Las Vegas currently that has 3BR units (the new Elara will have them, but that is not fully integrated into HGVC yet). The 3BR units on the strip are all "3BR Plus" units, which are penthouse units. They are worth either 9,600 points for a week in Platinum season, or 7,000 points for a week in Gold season.

If it really is two 2BR Gold season weeks, the price is not all that great. If it is a 9,600 point 3BR Plus Platinum season week, that is a steal of a price.

Title insurance is really up to you, depending on how comfortable you feel with the purchase. If there is a chance the title is not clear, it would be best to get the insurance.

Kurt
 

malubob

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That one looks like it sold for $15.5K.

Are you recommending I look for a platinum season unit for $12.5K or $15.5K?
 

malubob

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There is no single week at Las Vegas Strip that is worth 10,000 points. That location is the only one in Las Vegas currently that has 3BR units (the new Elara will have them, but that is not fully integrated into HGVC yet). The 3BR units on the strip are all "3BR Plus" units, which are penthouse units. They are worth either 9,600 points for a week in Platinum season, or 7,000 points for a week in Gold season.

If it really is two 2BR Gold season weeks, the price is not all that great. If it is a 9,600 point 3BR Plus Platinum season week, that is a steal of a price.

Title insurance is really up to you, depending on how comfortable you feel with the purchase. If there is a chance the title is not clear, it would be best to get the insurance.

Kurt

Thanks for the tip. It looks like it is a two 2 BR units Gold season or one unit for two weeks. Still waiting on clarification from the seller. I'm not so sure it is that great of a deal anymore.
 

SmithOp

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Thanks for the tip. It looks like it is a two 2 BR units Gold season or one unit for two weeks. Still waiting on clarification from the seller. I'm not so sure it is that great of a deal anymore.

It's not. Don't get hung up on purchase price, $1.00 - $1.50 per point is what I've seen on eBay. Think of using it 20 years and do the math on annual use costs, paying 2 maint fees per year adds up.
 

malubob

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It's not. Don't get hung up on purchase price, $1.00 - $1.50 per point is what I've seen on eBay. Think of using it 20 years and do the math on annual use costs, paying 2 maint fees per year adds up.

Thanks for the heads up and to everyone for the advice, especially so quickly. I'll pass on this opportunity and wait for a better deal to come up.
 

DaveC

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Yes, a 7k platinum is better for your budget.
Less maintenance fees is better unless you need a particular resort,
week, and/or number of bedrooms.
I got mine 1.5 years ago for $8300 but prices have gone up.
I always trade through the Hilton system so the points and maintenance
fees are what I focus on.

Remember that Flamingo properties do not have ROFR so Hilton
can't snatch it away from you if it is too cheap.
Watch out for posts on what passes ROFR in the TUG forum to know
what a good deal is.

Here is 1 for $11k which I think is fairly priced.

http://www.ebay.com/itm/7000-HGVC-P...=Timeshares&hash=item53ed435fcb#ht_4605wt_986

good luck
 

malubob

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Yes, a 7k platinum is better for your budget.
Less maintenance fees is better unless you need a particular resort,
week, and/or number of bedrooms.
I got mine 1.5 years ago for $8300 but prices have gone up.
I always trade through the Hilton system so the points and maintenance
fees are what I focus on.

Remember that Flamingo properties do not have ROFR so Hilton
can't snatch it away from you if it is too cheap.
Watch out for posts on what passes ROFR in the TUG forum to know
what a good deal is.

Here is 1 for $11k which I think is fairly priced.

http://www.ebay.com/itm/7000-HGVC-P...=Timeshares&hash=item53ed435fcb#ht_4605wt_986

good luck

Thanks, I'll stick to a 5K or 7K platinum units. I was hoping the price would be lower but I guess if it goes too low, Hilton will just buy it back.

Las Vegas seems to be the best value with points and maintenance fees considered. You could always book for a week elsewhere right? Is there any reason to pay more in maintenance fees at a more expensive resort unless you wanted to visit it every year at your allocated time?
 

Sandy VDH

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Thanks, I'll stick to a 5K or 7K platinum units.

Platinum weeks would be 7K or higher for 2 BR (higher for plus or premium units), or would be 4.8K or higher for a 1 BR (higher for plus or premium units).

A 5K 2 BR gold week will always be cheaper to purchase, but the MF per point will always be significantly more than a platium week, and with any duration of owning the unit, MF costs would probably outstrip purchase cost.
 

malubob

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Platinum weeks would be 7K or higher for 2 BR (higher for plus or premium units), or would be 4.8K or higher for a 1 BR (higher for plus or premium units).

A 5K 2 BR gold week will always be cheaper to purchase, but the MF per point will always be significantly more than a platium week, and with any duration of owning the unit, MF costs would probably outstrip purchase cost.

Thanks Sandy. It shows you have the HGVC Elite status. Did you buy directly from Hilton? Is it worth it? It doesn't seem to transfer over with the resales from what I've been reading.
 

vegasVIP

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Yes, a 7k platinum is better for your budget.
Less maintenance fees is better unless you need a particular resort,
week, and/or number of bedrooms.
I got mine 1.5 years ago for $8300 but prices have gone up.
I always trade through the Hilton system so the points and maintenance
fees are what I focus on.

Remember that Flamingo properties do not have ROFR so Hilton
can't snatch it away from you if it is too cheap.
Watch out for posts on what passes ROFR in the TUG forum to know
what a good deal is.

Here is 1 for $11k which I think is fairly priced.

http://www.ebay.com/itm/7000-HGVC-P...=Timeshares&hash=item53ed435fcb#ht_4605wt_986

good luck

That sounds about right. I am in the 30 day ROFR with Hilton on a 7k annual at the Convention center property (Karen St.). I paid 10k including fees and am waiting. Will let you know.
 

SmithOp

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PigsDad

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That is an event week 52, will get top dollar, only bid if you want the home advantage of spending NYE in Vegas. Event weeks are automatically booked, you have to cancel to use the points to go elsewhere.
I've never understood why people would pay a premium for week 52 in LV. I have looked for the last several years and there is no problem booking NYE in Vegas at the 9 month mark. I have even seen availability just a few months out. Why in the world would someone pay extra for that?!?

Kurt
 

Remy

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I've never understood why people would pay a premium for week 52 in LV. I have looked for the last several years and there is no problem booking NYE in Vegas at the 9 month mark. I have even seen availability just a few months out. Why in the world would someone pay extra for that?!?

Kurt

I've seen week 52 at the Flamingo go for a couple hundred bucks more than a normal platinum 2br in the same week on eBay. I guess that's a premium but both were under $10k. Fixed weeks can make sense for some people, but I'm not much of a mid-week vacationer. That's why the non-points timeshares never made much sense to me. Vegas has a bunch of availability now and it'll be wide open when Elara gets added to the system. My hope is that Hilton stops paying so much for buybacks so we can get some deals on the 2/2 platinums again. But to your point, I can't imagine why anyone would pay more for that. I'd also bet they don't get a single bid starting out at that price.
 

Sandy VDH

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Thanks Sandy. It shows you have the HGVC Elite status. Did you buy directly from Hilton? Is it worth it? It doesn't seem to transfer over with the resales from what I've been reading.

I bought a resale via Hilton Realty directly back some 7-8 years ago when they allowed resales via Hilton to count towards elite. They no longer allow this.

So yes I like Elite, (I'm only base Elite level) but I likely would not buy it at full HGVC prices.
 

Sandy VDH

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Moved to other thread.
 

malubob

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What would be a good price for a 2BR Gold Season 5000 point unit at the Las Vegas Hilton or the Las Vegas Strip?
 
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