Coral Vista Home options

This may have been discussed at TUG, but I haven't been able to find. Sorry for any repetition.

Regarding Coral Vista's at St John homeoptions; would the homeoptions (staroptions) transfer to the new owner if I bought from the developer and decided to sell a number of years later? In other words, would the new owner (resale purchaser) be limited to using the homeoptions at Coral Vista only since this phase is voluntary?

Thank you for your responses

With Voluntary resorts, the Staroptions do not transfer to a new owner on a resale - that is exactly what "voluntary" means.

What it means to you, is that the week you buy from the developer will have little or no resale value....

as mentioned - HomeResort options (aka SOs) - do not transfer to new owners.
However, while our esteemed Mods' comment is true for most V resorts - to date, WSJ-BV villas (also a V resort) are not valueless, but certainly less than SVO sells/sold them.
I would expect WSJ-CV to follow the same trend. IMO.

There are some resorts and specific seasons and certain unit sizes within those resorts that owners buy to use every year. They don't care about the SO's because they don't want to go elsewhere and they would be just as happy to save on the SVN fee since they never plan on using the SVNetwork to trade down. Those units are going to retain decent value even without the SO;s.

Resorts that people buy primarily to use SVN to exchange to higher MF resorts within the network are going to have a higher resale value if they are mandatory especially if they have a good ratio of SO's to MF.

Off season weeks with low SO's and fairly high MF are going to have little value even at mandatory resorts.

Just to bring it home, Home Options DO likely transfer to a new owner on resale. This is a subtle difference with CV; a resale owner must be able to use those home options in their season for any week and unit size. This is because owners don't actually own deeds, they own "shares."

However, home options and StarOptions are not the same. For original purchasers, home options essentially convert to StarOptions for trade to other resorts, but this would NOT happen for a resale owner.

okwiater said:

Just to bring it home, Home Options DO likely transfer to a new owner on resale. This is a subtle difference with CV; a resale owner must be able to use those home options in their season for any week and unit size. This is because owners don't actually own deeds, they own "shares."

However, home options and StarOptions are not the same. For original purchasers, home options essentially convert to StarOptions for trade to other resorts, but this would NOT happen for a resale owner.

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This is not really different than other resale V resorts - a resale owner of a V resort can book their villa based on the HO/SO allowance that one owns at that resort within their season. BUT the resale owner cannot use outside of their resort - or outside their season - unless they use II (and SVN is not available). Whereas, the direct SVO purchaser can use the entire system if they pay the SVN fee - same as other V resorts.

I guess the only difference is that the CV resale owner can break-up their ownership reservation segments to something different than 7-day intervals - and mix-up villa types. (assumption)
Not sure this is worth a 50-75% loss - eventually, based on medium-term history of WSJ-BV. (IMO)

Thank you all for your valuable info. That helps me greatly in making a decision - It is "No" to CV purchase.

DavidnRobin said:

I guess the only difference is that the CV resale owner can break-up their ownership reservation segments to something different than 7-day intervals - and mix-up villa types. (assumption)

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Your assumption is correct. Since you don't purchase a villa type, but rather a bucket of points, you can spend those points within your home season (diamond or resort) on any unit size. That is different from many voluntary resorts, where you can only reserve what you own.

work2travel said:

Thank you all for your valuable info. That helps me greatly in making a decision - It is "No" to CV purchase.

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In case you didn't know, the original phase of WSJ that Starwood acquired from another developer, the Virgin Grande aka Hillside phase, is mandatory, just as Key West and Bella are mandatory phases at SVV. If St. John interests you, but you really want SOs, that is something you may consider.

Note that the VG phase is across the road from the BV and CV phases, and has its own pools and parking lot, so it doesn't feel as integrated into the main campus as these other phases do. VG fans prefer its privacy and many never set foot on the main campus to use the common pools, beach, restaurants, or hot tub, though they are certainly welcome to.

LisaRex said:

In case you didn't know, the original phase of WSJ that Starwood acquired from another developer, the Virgin Grande aka Hillside phase, is mandatory, just as Key West and Bella are mandatory phases at SVV. If St. John interests you, but you really want SOs, that is something you may consider.

Note that the VG phase is across the road from the BV and CV phases, and has its own pools and parking lot, so it doesn't feel as integrated into the main campus as these other phases do. VG fans prefer its privacy and many never set foot on the main campus to use the common pools, beach, restaurants, or hot tub, though they are certainly welcome to.

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The VG phase also has parking next to each unit, so you aren't walking as far or depending on a golf cart shuttle to carry luggage, groceries, or beach supplies.

Also, buying Platinum Plus units in VGV can be nearly as economical as buying WKV from a maintenance-costs-to-StarOptions perspective. That was one of the main reasons we bought there. (We own both a WKV and WSJ VGV)

MF scheme

Also if note. Be really careful of the MF scheme for CV. Not sure if there is a base fee plus a cost per point or ratios depending on your package of points but MF are nearly 50% higher than BV for te best ratio and much higher with smaller Home Options packages.