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Prospective buyer questions

gdrj

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Looking at purchasing The Westin Kaanapali Ocean Resort Villas North 2BR Ocean view Bi-annual. Travel will primarily be just my wife and I with the possibility of adult children at times. My thoughts are we will use 1BR 1 yr and Studio the following year. Our travel to Maui will primarily be the week of July 4th or the week prior or after.

Here are my questions:
1- Is there a reason to not buy in Maui (i.e. trade in from another resort instead- I assume this is difficult)
2- Will we have trouble trying to secure a 1 BR or Studio at that time (July 4th timeframe as noted above)?
3. Assuming we decide to rent out the 1 BR or Studio instead of banking, how hard is it to get rental commitment prior to banking deadline for the year.

I appreciate the feedback. Glad I found this board!
 

CPNY

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Regal Vista at Massanutten
One can’t tell how hard getting a rental commitment will be. But summer months usually go. As far as banking then using the other half of the options, you’re restricted to 8 month window. Now others can answer much better than I can but from 12-8 months you only may be able to book what you own? Don’t quote me on that. Someone will def correct me if I’m wrong. Unless it’s a lockout you may be able to split it up. Again, I’m not too familiar with how that works since I owned a fix3d/float unit at HRA and never tried booking back into my home resort at SVV.

having all those options are great to book into other resorts if you get tired of HI. But also remember this, if this is tour first ownership you’ll have to pay 145 for the VSN membership fee. You pay that each year and it’s the full amount. That just increased your maint fee by 145 in your non use year.

You may want to just look into an annual one bedroom there, on the years tour adult kids go they can or you can rent them a separate room.
 

CPNY

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Looking at purchasing The Westin Kaanapali Ocean Resort Villas North 2BR Ocean view Bi-annual. Travel will primarily be just my wife and I with the possibility of adult children at times. My thoughts are we will use 1BR 1 yr and Studio the following year. Our travel to Maui will primarily be the week of July 4th or the week prior or after.

Here are my questions:
1- Is there a reason to not buy in Maui (i.e. trade in from another resort instead- I assume this is difficult)
2- Will we have trouble trying to secure a 1 BR or Studio at that time (July 4th timeframe as noted above)?
3. Assuming we decide to rent out the 1 BR or Studio instead of banking, how hard is it to get rental commitment prior to banking deadline for the year.

I appreciate the feedback. Glad I found this board!
Since you plan on going to Hawaii every year, having home resort priority 12-8 months out is huge. Since that’s where you want to go then I’d say buying into that resort is worth it. Buy a one bedroom oceanfront unit
 

Ken555

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Sheraton Desert Oasis
Lots of threads about this topic. Spend time reviewing the forum and you’ll find lots of recent good info pertinent to your goals.

Also, keep in mind that an every other year deed may only be used in the year in which it applies. Using it for your use year allows you to reserve 12 months in advance. You would potentially be able to trade the studio in II but that’s a risk and you would not have much control over when you visit.

If you are flexible with your travel time, you will not have difficulty trading in with staroptions from another resort eight months in advance, when internal trading starts. That’s what I, and many others here, have done for many years without difficulty. And, we save a lot by paying less maintenance than the high Hawaii MFs and absurd taxes.


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CPNY

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Yea
Looking at purchasing The Westin Kaanapali Ocean Resort Villas North 2BR Ocean view Bi-annual. Travel will primarily be just my wife and I with the possibility of adult children at times. My thoughts are we will use 1BR 1 yr and Studio the following year. Our travel to Maui will primarily be the week of July 4th or the week prior or after.

Here are my questions:
1- Is there a reason to not buy in Maui (i.e. trade in from another resort instead- I assume this is difficult)
2- Will we have trouble trying to secure a 1 BR or Studio at that time (July 4th timeframe as noted above)?
3. Assuming we decide to rent out the 1 BR or Studio instead of banking, how hard is it to get rental commitment prior to banking deadline for the year.

I appreciate the feedback. Glad I found this board!
Go with @Ken555 advice. If you have the cash look into Westin Kierland! High buy in but low maint fee.
 

Ken555

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Yea

Go with @Ken555 advice. If you have the cash look into Westin Kierland! High buy in but low maint fee.

High buy in is relative. It’s now much less expensive than it was years ago. The break even between WKV and SVV (with low purchase price and high MFs, but much less than Hawaii) is about 6-7 years. So, my advice to all is to consider how long you intend to own and if more than 6-7 years then it’s cheaper in the long run to buy WKV.


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CPNY

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High buy in is relative. It’s now much less expensive than it was years ago. The break even between WKV and SVV (with low purchase price and high MFs, but much less than Hawaii) is about 6-7 years. So, my advice to all is to consider how long you intend to own and if more than 6-7 years then it’s cheaper in the long run to buy WKV.


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Does WKV have ROFR? I would assume it does. I’m trying to figure out how to re arrange my ownership.
 

Ken555

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Does WKV have ROFR? I would assume it does. I’m trying to figure out how to re arrange my ownership.

Nope. Check the owner resources thread in this forum.


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CPNY

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I
Nope. Check the owner resources thread in this forum.


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would love to hear you take on another topic going on where a MVC owner just bought more points because he saw some secret document lol.

It’s titled “is 2019 the year of the timeshare”
 

Ken555

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echino

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If you buy a bi-annual, you will only be able to use it every other year. You will not be able to use one bedroom one year and a studio next year, it does not work that way.

Buy an annual unit. Rent out the studio portion.

If you buy SVV or WKV for StarOptions, you will likely NOT be able to reserve July 4 in Maui.
 

DavidnRobin

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Since you plan on going to Hawaii every year, having home resort priority 12-8 months out is huge. Since that’s where you want to go then I’d say buying into that resort is worth it. Buy a one bedroom oceanfront unit

There are no standalone OF 1Bd villas at WKORV/N/NN

It is better to buy a 2Bd LO over the Standalone 1Bd OV at WKORV because for a few more dollars you get an extra 67.1K SOs cheaply.

July 4th week is tough to reserve w/o Home Ownership (and calling exactly at 12 months).

Buy WKORV/N resale to use.




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gdrj

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Thanks for the feedback. From past experience it seems to be best to buy where I want to use it.
 

gdrj

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If you buy a bi-annual, you will only be able to use it every other year. You will not be able to use one bedroom one year and a studio next year, it does not work that way.

Buy an annual unit. Rent out the studio portion.

If you buy SVV or WKV for StarOptions, you will likely NOT be able to reserve July 4 in Maui.

Wouldnt I be able to bank or borrow to use seing my non use year? Subject to availability of course.
 

CPNY

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Thanks for the feedback. From past experience it seems to be best to buy where I want to use it.
I owned at HRA and to be honest, I’ve never booked anywhere else (due to low star options and ridiculous maint fee). I’ve finally emerged from the HRA cocoon. I picked up another mandatory resort and book back in to other resorts. Actually have a two bedroom lockout and deciding if I should add another annual or an EOY. I gave away my HRA last week, in contract. Availability is there at 8 months but be on at midnight at 8 months. Certain resorts are harder to come by. Take into account the maint fee to star option ratio. Thanks to tug I’m finally seeing that.
 

CPNY

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Wouldnt I be able to bank or borrow to use seing my non use year? Subject to availability of course.
Yes. For an EOY you can bank and still have two years to use it. Essentially allowing you to use options per year. What you cannot do is bring forward options one year.

Example.
Banking
2020 options on an even EOY allows you to use those options in 2021 and 2022

Pulling options forward
Even EOY unit
If we are in 2021 and your next allotment is 2022, you cannot pull options from 2022 to 2021. However you CAN pull your even year 2022 options forward to another even year. So 2020 you can pull 2022 allotment by paying maint fee for 2020 and 2022. But you cannot pull 2022 even year into an odd year such as 2021.

Think like year for like year. Even year forward to even year. Banking you have two consecutive years. That’s how you’ll get your odd year usage. But add another 109 yearly if you plan on doing that
 

echino

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If you buy EOY and bank the studio portion to use in off years, you pay $109 for banking, extra $145 VSN fee in off years, and you are limited to 8 months, which means you won't get 4th of July or other high demand weeks. Just buy an annual and rent out the studio portion, it's much more cost effective.
 

SteelerGal

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Agree w/ echino. If you want to go every year, go the annual route. I have EOYE and annuals. One our annuals is Hyatt Highlands. MF is expensive but for when you spend nearly the same amount to stay at an Embassy Suites for a weekend, the MF is cheap in our eyes.
 

CPNY

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Agree w/ echino. If you want to go every year, go the annual route. I have EOYE and annuals. One our annuals is Hyatt Highlands. MF is expensive but for when you spend nearly the same amount to stay at an Embassy Suites for a weekend, the MF is cheap in our eyes.
How do you like the combo annuals and eoy? I had two annuals just gave one away. Looking to pick up another and the eoy I had planned wasn’t legit. Thinking about another annual or maybe an eoy
 

gdrj

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If you buy EOY and bank the studio portion to use in off years, you pay $109 for banking, extra $145 VSN fee in off years, and you are limited to 8 months, which means you won't get 4th of July or other high demand weeks. Just buy an annual and rent out the studio portion, it's much more cost effective.
Thanks, seems weird that there is a banking fee of 109, I have owned elsewhere with mo banking fees. Your recommendation seems to make sense.
 

SteelerGal

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How do you like the combo annuals and eoy? I had two annuals just gave one away. Looking to pick up another and the eoy I had planned wasn’t legit. Thinking about another annual or maybe an eoy
I like EOY because I can split MF btwn 2 yrs. easier on the wallet.
 

Ken555

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Thanks, seems weird that there is a banking fee of 109, I have owned elsewhere with mo banking fees. Your recommendation seems to make sense.

When SVN introduced banking there was a fee. It’s always been this way, weird or not.


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carpie99

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High buy in is relative. It’s now much less expensive than it was years ago. The break even between WKV and SVV (with low purchase price and high MFs, but much less than Hawaii) is about 6-7 years. So, my advice to all is to consider how long you intend to own and if more than 6-7 years then it’s cheaper in the long run to buy WKV.


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Everytime I hear this I struggle to understand this logic ... the break even for WKV versus SVV isn't 6-7 years. It is much longer than that. Based on the post about wanting to go to Hawaii in a 1 bedroom one year and a studio the other lets just ramp it up to 81,000 points annually.

Currently there is a 1 Bedroom at WKV for $8,750 and $961 a year in maintenance fees versus SVV 2 bedroom Bella (one sold on eBay yesterday) for $1500 plus $1181 in maintenance fees.

($8,750-$1,500)/($1181-$961) = 32.95 years
 

teddyo333

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Everytime I hear this I struggle to understand this logic ... the break even for WKV versus SVV isn't 6-7 years. It is much longer than that. Based on the post about wanting to go to Hawaii in a 1 bedroom one year and a studio the other lets just ramp it up to 81,000 points annually.

Currently there is a 1 Bedroom at WKV for $8,750 and $961 a year in maintenance fees versus SVV 2 bedroom Bella (one sold on eBay yesterday) for $1500 plus $1181 in maintenance fees.

($8,750-$1,500)/($1181-$961) = 32.95 years


I think Ken555 is taking into consideration the rental income of each unit. One can easily get @ $2000 (or $1000 above maint) for renting the WKV in comparison to the SVV (may be able to recoup maint fees) . With that in mind if one rents WKV for 7 years the purchase cost will be recovered for the most part. That also means that the SO for that unit cannot be used to go anywhere else for 7 years. I purchase WKV last year for the sole purpose of going to Maui with the SO. But I've change my strategy and am now strictly renting the unit and using SO from SVV to go to Maui (off-season). I also purchase a 1 Bedroom Premium WKORV-OV for (prime-season). This give me the most flexibility at the least cost. Worst case scenario I should be able to sell WKV for at least the purchase price (Paid @ 6K for annual WKV Premium)
 

CPNY

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Everytime I hear this I struggle to understand this logic ... the break even for WKV versus SVV isn't 6-7 years. It is much longer than that. Based on the post about wanting to go to Hawaii in a 1 bedroom one year and a studio the other lets just ramp it up to 81,000 points annually.

Currently there is a 1 Bedroom at WKV for $8,750 and $961 a year in maintenance fees versus SVV 2 bedroom Bella (one sold on eBay yesterday) for $1500 plus $1181 in maintenance fees.

($8,750-$1,500)/($1181-$961) = 32.95 years
1500+the maint fee is a high buy in. Plus closing costs. WKV is a better buy for the 2bedroom lockout. You can rent the 148K options and make your money back in at least 6 years. If I have 10K disposable to drop I’d do it
 
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