What should I buy?

[sweetpcon]

Would appreciate any insights! We bought Westin Flex when we were at WKV in April. Bought 148 SOs from developer Didn’t find this site until later on. Eventually we would like an OF in Maui with 2 beds... what’s the best way to accomplish this in the longer term?

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? Maui / Hawaii

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Visit 7 in Westin Flex most of the time.

3) What are your 5 top trade destinations? Maybe Caribbean, Europe

4) How many people do you usually travel with - total, including yourself? 4

5) Can you travel any time, or are you locked into the school schedule? School

6) Can you make firm plans 12 or more mos. in advance? Yes

7) Can you vacation for a full week at a time? Yes

8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 5

9) How much can you afford to spend upfront, without financing? Money is not an issue

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? Money is not an issue

11) Are you a detail oriented planner? Can be if needed, prefer what’s easiest

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? Yes




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[sweetpcon]

Also, sharing the offers we got from Westin Nanea (here on trip not booked with SOs) but was still invited to owners update - which we did for 35k Bonvoy points.

1. Trade in our 148.1k Westin Flex for 230k at Nanea for $43,308 after 15% cash discount. $1290 closing.
2. Get additional 148.1k EOY for $30,843 after 15% cash discount. $990 closing.

We said no to both. The presentation took 2 hours+ as the salesperson didn’t have anyone after us and would not let us go. She was unfortunately so condescending and asked us a ton of questions (that obviously we didn’t know the answers to but she took great delight in schooling us) that my DH didn’t want to get the Encore deal because it requires another presentation. It’s 100k Bonvoy as the gift and seems a decent deal but it was so painful he doesn’t want to do another presentation anytime soon It doesn’t sound like most people’s presentations are that bad, and ours in the past have not been, so chalking this one as a one off situation


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[vacationtime1]

If you want OF on Maui during school vacations or summer, you're going to have to buy (or rent) OF on Maui. Reservations for those weeks are competitive (ie. you must reserve as soon as reservations open); you are not going to be able to reserve a two bedroom OF unit at the eight month mark for school vacation weeks.

Don't throw good money after bad to "upgrade" to Nanea. You can purchase a two bedroom OF unit on the secondary market for between about $22K (WKORVN) to $35K (WKORV). Talk to Syed at www.advantagevacation.com -- a knowledgeable broker on Maui who many of us have employed.

 

[JudiZ]

But sadly, sweetpcon, your experience at the owner update or whatever Westin calls it, is more typical than not. The norm is that most of these sales presentations are high pressure, misleading and result in people buying vacation systems or resorts that may not be in their best interest. Many of us who own and love timeshares avoid them. Others go for "sport" with no intention to buy. TUGgers almost always know far more than the salespeople and know that they are lying.

On the other hand, this is a good place for sound advice on purchasing what you need.

Good luck!

Best,
Judi

 

[CalGalTraveler]

Sorry to hear about your buyer's remorse. More than half the people here on TUG purchased developer so you are not alone. Many of us purchased resale after we figured out the systems.

Why can't you use what you have in Westin Flex to stay in Hawaii? Don't you get 12 months reservations instead of 8 in SOs? If you want to add to this to get guaranteed OF then contact Syed for a resale unit. Also consider an EOY at WKORVN for approx $11 - $14k if you don't think you will use an annual every year. MF are expensive in Hawaii so you should only buy what you reasonably need; you don't want to trade a WKORV Lexus for a Chevy with SOs.

 

[vacationtime1]

Sorry to hear about your buyer's remorse. More than half the people here on TUG purchased developer so you are not alone. Many of us purchased resale after we figured out the systems.

Why can't you use what you have in Westin Flex to stay in Hawaii? Don't you get 12 months reservations instead of 8 in SOs?

OP wants to stay in an OF suite; Westin Flex doesn't own any OF at either WKORV or WKORVN (I'm not sure about Nanea where it owns building 8). It appears that OP was sold what the salesperson had to sell, not what OP wanted to buy.

 

[CalGalTraveler]

Thanks @vacationtime1. I did not know that! Sounds like they lure you with Hawaii but you get the less desireable units. So glad we own resale there. MF is expensive but it is a worthwhile extravagance for our years of hard work and savings.

Here is an idea: Can the OP book their Flex IV unit and rent it out every year? Then buy another resale WKORV or WKORVN OF and use the proceeds of the rental to help pay for the OF unit MF? More work but better than shelling out money for 2 MFs unless OP plans to use the Flex points.

 

[vacationtime1]

Thanks @vacationtime1. I did not know that! Sounds like they lure you with Hawaii but you get the less desireable units. So glad we own resale there. MF is expensive but it is a worthwhile extravagance for our years of hard work and savings.

Here is an idea: Can the OP book their Flex IV unit and rent it out every year? Buy another resale WKORV or WKORVN OF and use the proceeds of the rental to help pay for the OF unit MF? More work but better than shelling out money for 2 MFs.

This would work -- Kierland and Maui rent for more than MF's -- but I doubt OP will be interested in doing this (and it requires a knowledge base that many of us have, but OP probably does not). Further, the "profit" on that rental will give OP an ROI of about 1-2% on his/her "investment" in Westin Flex.

The economics of a developer purchase are seldom good.

 

[CalGalTraveler]

@vacationtime1 How much is the MF on 148k Westin Flex? I am assuming the OP could reserve and rent out a 1 bdrm and studio for that amount on the south or north property during whale season or summer and get a tidy sum?

 

[CanadaGuyEh]

Buy resale to add to what you have so basically lowers your overall cost per point until you are what we paid - almost zero.

 

[vacationtime1]

Unfortunately, Westin Flex MF's are high -- @ $0.02022 per the sticky https://www.tugbbs.com/forums/index...-vistana-2020-maintenance-fees-thread.294868/ (post #2). So OP's MF's will be about $2,830 + VSE fee. (Note: MF's are $1565 for a 2bd Kierland 2bd or $2,374 for a 2bd at WKORV -- plus VSE.)

Rental income for a prime Kierland week would cover those MF's with a "profit" of about $700. Renting WKORV/N would be a break even or a very small profit.