We don't use our points. Now what?

HatTrick said:

Great minds, eh Bob?

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Most definitely! :whoopie:

essie74 said:

Thanks for the suggestions!

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You're welcome.

Your current idea of selling SoBe and hanging onto LV makes sense to me. You can contact the realtors to find out what you can expect from a sale. But both web sites will display current listings, which may also give you an idea. Warning - listing price is not the same thing as sales price. There are still lots of people who aren't realistic about the value of their timeshare, and list for a price that will never sell.

-Bob

essie74 said:

I would really like to hang on to the LV property. Though we haven't been back to it since we bought it, and it was under construction then, I think that even as a family I can see us going to Vegas. Even for a few days. It is an exciting place, plenty near by to see OTHER than Vegas you know. And we are missing our FL vacation something terrible. I think we should keep that one and learn to rent it out. Then we can use it as some people suggest, even every three years, and rent in between to cover the MF.

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If you want to keep Las Vegas, you'll probably rent out at a loss. By Hilton's definition of renting, you can rent your home resort week only. Las Vegas has lots of full week rentals for a only a few hundred dollars. If you are able to book NYE on a high floor, you might be able to recover all your costs.

If you decide to rent something other than your home week and keep it on the down low from HGVC, you need to pay $52. to book the reservation + $52. guest certificate. That is in addition to what your are paying in MFs annually, which is likely in the $800-$1000. range. It can be done, but the bigger question is why would you do that.

essie74 said:

here is my current thinking.
We need to talk to a realtor for sure. We need to find out what we can get for both properties in terms of selling them and renting them.

I can't see us personally ever going to the South Beach property. The only reason I would want to hang on to that property is if the points from it allow me to have more time in FL.

I would really like to hang on to the LV property. Though we haven't been back to it since we bought it, and it was under construction then, I think that even as a family I can see us going to Vegas. Even for a few days. It is an exciting place, plenty near by to see OTHER than Vegas you know. And we are missing our FL vacation something terrible. I think we should keep that one and learn to rent it out. Then we can use it as some people suggest, even every three years, and rent in between to cover the MF.

Thanks!!!!!

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Vegas has the lowest HGVC MF's. Are both TS's, 2-BR, 7K, Plat., annual, units?

Thank you. Very helpful

essie74 said:

Let me say first off I have never posted to a forum like this. Apologies in advance and if there is another place I should be looking/posting, please, let me know. This is very overwhelming.

In 2003 my husband and I purchased HGVC points in Las Vegas. In 2009 we purchased more in Orlando, but the deed is for a unit in South Beach. Until 2012 we used the points regularly to go to Marco Island.

We find that we are not using them, the fees are astronomical, and we don't know what to do. When we bought it was just us. Then we had one child. That was doable. Now with two kids, it is far more difficult, and expensive, to fly or drive to any of the resorts. I think that perhaps when they get older we might go back to using the points, so I am not entirely sure I want to sell both properties outright and be done.

Has anyone else found themselves in this situation? Is it better to just sell the properties or sell the points? Thank you for your help!

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My Family has been in the same situation when my Parents purchased a timeshare back in 1996 and did not know the system like I do today nor knew anything about TUGSBBS. We were able to use our weeks in Europe and then sold the TS as our weeks were hard to Exchange let alone use the home resort in Utah.

Fast Forward to 2010 on a trip in Arizona I had the wise idea to go with my Father to see some resorts in the area and go resale. I had joined Redweek.com and TUGS BBS and we rented on Redweek.com a week at the Sheraton Desert Springs in Scottsdale. We found a week at the Villa Mirage and we used it for 2 weeks in a 2 bedroom at the Welk Resort in San Diego.

In 2011 we rented another week at The Ridge Lake Tahoe did the presentation and then went onto Redweek.com and purchased a 2 bedroom in the same building we were staying in. This is our home resort and we have been going every year since owning it plus did some bonus time there as well.

We have a Marriott week in Palm Desert which we used to exchange via Interval at the Ridge for this summer and as owners we are able to stay in the same unit in the Cascades as we get priority even on exchanged weeks of where we want to stay.

My point is try buying a resort that is located an easy drive from you like the Ridge Lake Tahoe is only 4 hours away and has a free shuttle down to the Casinos in South Lake Tahoe, Free Ski Shuttle to Heavenly plus their own private Gondola that connects to the Heavenly Ski Lift. In addition there is an Amtrak Bus Stop thats located feet away from the shuttle that takes us to the resort so in the winter we can take Amtrak to Sacramento and then the bus connection to South Lake Tahoe. We can even fly into Reno if needed and rent a 4WD car. So there are many options available to us.

If you can first own at a Home Resort close to you and the Exchange secondary you will be happier as you know you are going to use it. I think too many people buy a Home Resort so far away or make up an excuse as to why they can't use it. If you can't use it then you can rent your week and at least cover the Maintance Fees.

Hope this helps you.

presley said:

You can allocate your future years points to Hilton hotel points and stay in any Hilton brand hotel, but for what you pay in MFs, you will end up paying out more than if you didn't own HGVC and used those points.

If you aren't using them, you are essentially flushing your money away year after year. You may want to discuss with an agent who specializes in HGVC resales what you could sell the contracts for. It won't be anywhere near what you paid, but it will be better than continually throwing money away in MFs every year in hopes of using it later in life.

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In my opinion this is not really a good move because the points lose value when you transfer them, Its less expensive to book a Hotel using various means online than to use points. In a sense its like Frequent Flier Miles when I wanted to transfer my Hilton points to my American account it was not 1 for 1. It was more like 5 points for 1 miles with a minimum.

Not sure if its the same for Timeshare but it seems like it would be.