letsgobobby
TUG Member
- Joined
- Dec 18, 2009
- Messages
- 1,255
- Reaction score
- 657
- Points
- 323
- Resorts Owned
- HGVC - Lagoon, W57th, MarBrisa, Paradise
For the third time, thanks HGVC for the great week, but no, we aren’t buying from you.
We are midway through the VIP week at Grand Islander at HHV. We are in a 2 BR ocean view. These are sweet rooms. I think these cost 12k or 14k per week or some such and cost around six figures. Anyway, our sales agent really misread us today, going superlow in his ‘final best offer’ when we are more likely to buy bigger. He offered us 3500 EOY points for $12k plus a 10,000 bonus point offer. That sounds like, what, a studio in GI EOY? Anyway, he was finding ways to knock $10 off the monthly payment and we were just rolling our eyes; we aren’t monthly payment shoppers.
However, after the closer left our salesman guessed correctly that they undersold us and said he would have offered us 7200 EOY for $25,000 and 25,000 bonus points with $1400 MF. And I have to admit that caught my attention. That sounds like a 1 BR EOY in GI for $25,000, plus 25,000 bonus points worth 3 more seasons which is probably worth $7000-$10,000 in comparable bookings (we typically rent a 2 BR Lagoon for $2500-$2800 per week from owners and that is 7000 points). So then we’re into the $15,000-$18,000 range for a 1 BR EOY in GI, or a 2 BR EOY in Lagoon? That’s not the worst deal in the world, is it?
Anyway, we didn’t buy - never were going to.
We are interested in HGVC ownership and we come to Oahu, usually HHV, every year and have for nearly a decade. We rent from owners, have done a couple presentations, etc. We have family here so this is not a temporary situation. We want to have the home reservation period to ensure getting our desired weeks.
On the resale market, there are several 7000 point Lagoons available for $17k-$20k. I’ve read about the HGVC system for years but the one thing I don’t understand is the ‘upgrading’ of properties for direct owners vs resale owners. It seems buying resale, if I have a 7000 point Lagoon and instead want to buy a 14,400 point GI, I can’t just buy 7400 points and have a new deed at GI with a single MF; insead I have to either buy 7400 points and have 2 deeds with 2 MFs, and only book in club season at GI; or I can sell the Lagoon and buy a 14,400 point deed at GI. Do I have this right? And the disadvantage of having two deeds like this is the MFs will be higher per point, as compared to a single deed?
The GI is super gorgeous but the Lagoon is fine for our needs. For a similar number of points we’d rather have 2 weeks at Lagoon than 1 week at GI, but it seems like the MFs would be higher for 2 Lagoon weeks than 1 GI week. Do I have this all correct?
I know the ROFR issue is a bugaboo esp for HHV properties but I’m willing to take the chance to try to get a steep discount off developer prices.
Any other tips, suggestions, etc?
We are midway through the VIP week at Grand Islander at HHV. We are in a 2 BR ocean view. These are sweet rooms. I think these cost 12k or 14k per week or some such and cost around six figures. Anyway, our sales agent really misread us today, going superlow in his ‘final best offer’ when we are more likely to buy bigger. He offered us 3500 EOY points for $12k plus a 10,000 bonus point offer. That sounds like, what, a studio in GI EOY? Anyway, he was finding ways to knock $10 off the monthly payment and we were just rolling our eyes; we aren’t monthly payment shoppers.
However, after the closer left our salesman guessed correctly that they undersold us and said he would have offered us 7200 EOY for $25,000 and 25,000 bonus points with $1400 MF. And I have to admit that caught my attention. That sounds like a 1 BR EOY in GI for $25,000, plus 25,000 bonus points worth 3 more seasons which is probably worth $7000-$10,000 in comparable bookings (we typically rent a 2 BR Lagoon for $2500-$2800 per week from owners and that is 7000 points). So then we’re into the $15,000-$18,000 range for a 1 BR EOY in GI, or a 2 BR EOY in Lagoon? That’s not the worst deal in the world, is it?
Anyway, we didn’t buy - never were going to.
We are interested in HGVC ownership and we come to Oahu, usually HHV, every year and have for nearly a decade. We rent from owners, have done a couple presentations, etc. We have family here so this is not a temporary situation. We want to have the home reservation period to ensure getting our desired weeks.
On the resale market, there are several 7000 point Lagoons available for $17k-$20k. I’ve read about the HGVC system for years but the one thing I don’t understand is the ‘upgrading’ of properties for direct owners vs resale owners. It seems buying resale, if I have a 7000 point Lagoon and instead want to buy a 14,400 point GI, I can’t just buy 7400 points and have a new deed at GI with a single MF; insead I have to either buy 7400 points and have 2 deeds with 2 MFs, and only book in club season at GI; or I can sell the Lagoon and buy a 14,400 point deed at GI. Do I have this right? And the disadvantage of having two deeds like this is the MFs will be higher per point, as compared to a single deed?
The GI is super gorgeous but the Lagoon is fine for our needs. For a similar number of points we’d rather have 2 weeks at Lagoon than 1 week at GI, but it seems like the MFs would be higher for 2 Lagoon weeks than 1 GI week. Do I have this all correct?
I know the ROFR issue is a bugaboo esp for HHV properties but I’m willing to take the chance to try to get a steep discount off developer prices.
Any other tips, suggestions, etc?
