Does it make any sense to own 2 EOY in the same resort

[Bdpd]

I bought an EOY ( Gold 1 bedroom)from the developer while I was at a resort. Thought I was getting the same style unit and season as I was staying. Turns out the event I was attending was actually the last week of Platinum (Labor day week) and was a one bedroom plus. Yes, I made many, undereducated mistakes. So now I am trying to decide if it would make any sense to buy the opposite EYO in the platinum for a 1 bedroom plus.

 

[alwysonvac]

I bought an EOY ( Gold 1 bedroom) from the developer while I was at a resort. Thought I was getting the same style unit and season as I was staying. Turns out the event I was attending was actually the last week of Platinum (Labor day week) and was a one bedroom plus. Yes, I made many, undereducated mistakes. So now I am trying to decide if it would make any sense to buy the opposite EYO in the platinum for a 1 bedroom plus.

Why and which resort?
I won’t buy anything until you completely understand the HGVC club rules and how you intend to use your HGVC timeshare. And whatever you do, don’t buy from the developer again.

How long ago did you buy? I’m assuming you bought from the developer months ago and can no longer rescind your purchase. Correct? If not rescind immediately.

 

[GT75]

I agree with @alwysonvac, which resort are you thinking about purchasing and then tell us why you are considering purchasing there, for that unit, size, season, price. etc.

 

[VegasBella]

If you're not happy with what you own then you should sell it or give it away, assuming you can afford to. And then buy what you actually want (and probably buy it resale).

If you cannot afford to get rid of what you bought then you can't afford to buy more.

 

[Bdpd]

Why and which resort?
I won’t buy anything until you completely understand the HGVC club rules and how you intend to use your HGVC timeshare. And whatever you do, don’t buy from the developer again.

How long ago did you buy? I’m assuming you bought from the developer months ago and can no longer rescind your purchase. Correct? If not rescind immediately.

We bought at Ocean22

Why and which resort?
I won’t buy anything until you completely understand the HGVC club rules and how you intend to use your HGVC timeshare. And whatever you do, don’t buy from the developer again.

How long ago did you buy? I’m assuming you bought from the developer months ago and can no longer rescind your purchase. Correct? If not rescind immediately.

We bought 3400 points Gold season EOY ODD at Ocean 22. This was back in September 2017. We had stayed at that resort 3 times previously as cash reservations directly through Hilton. I thought I had a pretty good understanding of timeshare usage of points as we have owned Disney BWV since 1998. Their points and home resort are not tied to season or accommodation size.When we attended the most recent presentation, we had no intention of buying.For the price of cash reservations at the resort- we usually stay 8 nights- it started making more sense to buy into the resort.
We were there for a local event and are not sure if we will always attend- so chose the EOY option. Realizing now exactly what we have, I was starting to investigate the even EOY and would it make any sense to try to find one that was Platinum 6200( 1bedroom plus). This would be in addition to what we already own. Truely had no idea how resale worked with HGVC and if there were other restrictions if purchased that way. Just trying to make the best use and possibly supplement what we already have. Not sure if that makes any sense or if one can even find that on resale. Thanks!

 

[Bdpd]

If you're not happy with what you own then you should sell it or give it away, assuming you can afford to. And then buy what you actually want (and probably buy it resale).

If you cannot afford to get rid of what you bought then you can't afford to buy more.

We are using the current points - but of course they will not cover our entire stay. Not sure what would be the benefit of selling it as I see resales of that type you practically are giving them away. It will take quite some time to make up for our overpriced developer purchase, but the maintenance fees are not that bad, and of course they are EOY. Just trying to make the best of the situation I am in. We also have 9000 bonus points to help out for now.

 

[alwysonvac]

We bought at Ocean22
We bought 3400 points Gold season EOY ODD at Ocean 22. This was back in September 2017. We had stayed at that resort 3 times previously as cash reservations directly through Hilton. I thought I had a pretty good understanding of timeshare usage of points as we have owned Disney BWV since 1998. Their points and home resort are not tied to season or accommodation size.When we attended the most recent presentation, we had no intention of buying.For the price of cash reservations at the resort- we usually stay 8 nights- it started making more sense to buy into the resort.
We were there for a local event and are not sure if we will always attend- so chose the EOY option. Realizing now exactly what we have, I was starting to investigate the even EOY and would it make any sense to try to find one that was Platinum 6200( 1bedroom plus). This would be in addition to what we already own. Truely had no idea how resale worked with HGVC and if there were other restrictions if purchased that way. Just trying to make the best use and possibly supplement what we already have. Not sure if that makes any sense or if one can even find that on resale. Thanks!

DVC is a pure point based system. With DVC, there is no minimum night requirement. With DVC, you can book any number of nights at any time including the home resort booking period.

With HGVC, there is no flexibility during the home resort booking period.

The flexible point based system doesn't apply during the home week booking period. HGVC works like a floating week system during the Home Week window. If you want to book during the home week window then you must reserve the exact unit size and type in the season that you purchased (studio, 1 bedroom plus, etc) for the full week based on the fixed checkin date at your home resort.

HGVC works like a point based system during the Club Reservation window where all owners can book any season, resort (including their home resort), unit size and/or type for any number of days (minimum of 3 nights). This means all HGVC resort owners have an equal chance at booking at any HGVC resort during the Club Reservation window.

So if you’re just looking to combine points to stay 8 nights at Ocean 22, it doesn’t matter where you own since you can only book 8 consecutive nights during the Club Reservation Window.

You might find this additional post helpful - https://tugbbs.com/forums/index.php?posts/1917891/

We also have 9000 bonus points to help out for now.

Definitely use your bonus points before they expire.

 

[alwysonvac]

HGVC Booking Windows

 

[Bdpd]

DVC is a pure point based system. With DVC, there is no minimum night requirement. With DVC, you can book any number of nights at any time including the home resort booking period.

With HGVC, there is no flexibility during the home resort booking period.

The flexible point based system doesn't apply during the home week booking period. HGVC works like a floating week system during the Home Week window. If you want to book during the home week window then you must reserve the exact unit size and type in the season that you purchased (studio, 1 bedroom plus, etc) for the full week based on the fixed checkin date at your home resort.

HGVC works like a point based system during the Club Reservation window where all owners can book any season, resort (including their home resort), unit size and/or type for any number of days (minimum of 3 nights). This means all HGVC resort owners have an equal chance at booking at any HGVC resort during the Club Reservation window.

So if you’re just looking to combine points to stay 8 nights at Ocean 22, it doesn’t matter where you own since you can only book 8 consecutive nights during the Club Reservation Window.

You might find this additional post helpful - https://tugbbs.com/forums/index.php?posts/1917891/



Thanks for the link- really helpful in comparing the two systems. I needed to see that before we bought- or at a minimum listened more closely to the sales presentation.

So now I am still left with making the best use of what I own and deciding if I want to make a future purchase. For the big picture, adding in booking fees in club season as well as fees to save points has to also be factored in I also see. At least the borrowing is free.

That is why if I am looking to buy anything more, I was wondering if we should buy the other EYO Platnium 1BRplus at Ocean22 to use as home week- if I can find it. Not sure what to do about the 8th night except maybe cash- but there may be # of night minimums through Hilton as there is for HGVC and Open season- if I could find one. You all are way more knowledgeable and I appreciate your thoughts or suggestions.

 

[Bdpd]

Definitely use your bonus points before they expire.[/QUOTE]
Will definitely do- I see they can only be used club season and cannot be combined with club points. Do they ever "link reservations" ( not make you change rooms if they are they same type in the same stay) and if so, do you still need to check- out and check back in? I apologize if I am not suppose to continue asking questions if not directly related to the original topic... obviously new to the board and learning so many good things!

 

[Karen G]

I apologize if I am not suppose to continue asking questions if not directly related to the original topic... obviously new to the board and learning so many good things!

No apology necessary--you've come to the right place to learn all you can about timesharing.

 

[PigsDad]

Do they ever "link reservations" ( not make you change rooms if they are they same type in the same stay) and if so, do you still need to check- out and check back in? I apologize if I am not suppose to continue asking questions if not directly related to the original topic... obviously new to the board and learning so many good things!

Unless they are very full or you are changing room categories, they should be able to accommodate you. I would just make the two reservations and then a couple weeks before check in, call the resort directly with your request.

Kurt

 

[alwysonvac]

Thanks for the link- really helpful in comparing the two systems. I needed to see that before we bought- or at a minimum listened more closely to the sales presentation.

So now I am still left with making the best use of what I own and deciding if I want to make a future purchase. For the big picture, adding in booking fees in club season as well as fees to save points has to also be factored in I also see. At least the borrowing is free.

That is why if I am looking to buy anything more, I was wondering if we should buy the other EYO Platnium 1BRplus at Ocean22 to use as home week- if I can find it. Not sure what to do about the 8th night except maybe cash- but there may be # of night minimums through Hilton as there is for HGVC and Open season- if I could find one. You all are way more knowledgeable and I appreciate your thoughts or suggestions.

I’m glad the DVC comparison helped.

Most sales folks simply lie during a sales presentation. It’s one of the reasons why the timeshare industry in general has a bad reputation. You’re better off reading the HGVC Club Member Guide and TUG threads vs getting misleading information from the sales folks.

At Ocean22, Platinum Season is Weeks 21-35 and the designated checkin day is Saturday.
It only makes sense to buy Platinum Season at Ocean 22 if you’re going to primarily book exactly what you own during the home week window.

According to the TUG Sticky thread, Ocean22 has units on 20 floors with two 1 BR plus units on each floor. So there are only 40 one bedroom plus units.

Ocean22 opened in July 2015. Since it’s only been 3 years, there may be very few one bedroom plus units available for resale. So you might have to wait a number of years for the right price. Another option is to trade in your current ownership for your desired week via the developer but they’ll want lots of $$ for the upgrade.

Note: But keep in mind, unlike DVC, most timeshares will decrease in value over time.

 

[alwysonvac]

Week 35 might be easy to book at the 9 month mark since the kids are back in school.
You’ll have to check online availability at the 9 month mark (midnight eastern) to confirm.

If there’s availability at the 9 month mark, you can purchase cheaper points at a different HGVC resort. During the Club reservation window flexibility is key. You’ll simply book whatever is available during the Club reservation window however there is no guarantee that your desired unit type will always be available.

 

[brp]

Most sales folks simply lie during a sales presentation. It’s one of the reasons why the timeshare industry in general has a bad reputation. You’re better off reading the HGVC Club Member Guide and TUG threads vs getting misleading information from the sales folks..

Even lying aside, there's just more information here.

Just before our recent stay at W.57th they called (as usual) to "invite" us to an "owner's update." This was where I could learn all about all the the new developments in NYC (and, to be fair, there really are). I simply told them that I belong to a website where the combined knowledge knows far more than any sales rep I would talk to, so why would I waste my time. (Actually, some individual members here know more than their reps, but I didn't go that far).

Even if they told the complete truth as they knew it, they would not know as much as the folks here. And they won't - the "complete truth" part.

Cheers.

 

[brp]

Note: But keep in mind, unlike DVC, most timeshares will decrease in value over time.

Which, while true in the cases I know, surprises me a bit.

DVC is time-limited. The current run-up is due to the substantially increased price of new developer points, but that will reverse at some point as the 2042 contracts age.

HGVC, on the other hand is "forever." I can certainly understand the initial "drive it off the lot" depreciation, but why would we expect it to continue to decline after that since it has no less value? I'd more expect fluctuation based on economy and other factors, but not steady decline.

I do know that we paid more for resale on W. 57th than we did when we originally (mistakenly) bought from HGVC. We traded it to HCNY over some agreed-upon technicalities...then sold that back to them and bought W 57th resale (net loss on this one, to be sure), but it was more than our original developer purchase. based on recent ROFR data, it has come down some since then, though (although, as much as I trust the brokers that we all like here, I sometimes wonder if the "this is the price you'll have to pay to avoid ROFR" prices really are the minimum...but I digress...)

Cheers.

 

[PigsDad]

Which, while true in the cases I know, surprises me a bit.

DVC is time-limited. The current run-up is due to the substantially increased price of new developer points, but that will reverse at some point as the 2042 contracts age.

I think the main factor that drives DVC resale prices is the value the owners receive for their points, compared to what it would cost them for the same reservations via other avenues. For their maintenance fees, DVC owners can stay at Disney resorts for way less than renting directly or via private rentals. They can also rent out their unused points very easily for a good price well above their cost. I don't think most of us could say that we could rent out our HGVC weeks for anywhere near the profit that a DVC owner could rent theirs. In many cases, HGVC owners might have problems even recovering MF costs. Also, I think 2042 is so far away in many people's minds that it doesn't even factor into the thought process.

It has been demonstrated that people will pay a huge premium for stays at Disney resorts, even though (IMO) the HGVC and some other properties close to the parks are actually much better properties -- just chalk that up to the "Disney Magic", I guess.

Kurt

 

[Bdpd]

I’m glad the DVC comparison helped.

Most sales folks simply lie during a sales presentation. It’s one of the reasons why the timeshare industry in general has a bad reputation. You’re better off reading the HGVC Club Member Guide and TUG threads vs getting misleading information from the sales folks.

At Ocean22, Platinum Season is Weeks 21-35 and the designated checkin day is Saturday.
It only makes sense to buy Platinum Season at Ocean 22 if you’re going to primarily book exactly what you own during the home week window.

According to the TUG Sticky thread, Ocean22 has units on 20 floors with two 1 BR plus units on each floor. So there are only 40 one bedroom plus units.

Ocean22 opened in July 2015. Since it’s only been 3 years, there may be very few one bedroom plus units available for resale. So you might have to wait a number of years for the right price. Another option is to trade in your current ownership for your desired week via the developer but they’ll want lots of $$ for the upgrade.

Note: But keep in mind, unlike DVC, most timeshares will decrease in value over time.

Thanks, I will think about all that. I know the developer has already been calling to upgrade..... but I believe I read somewhere on here the reminder that "that is throwing money bad money after bad money"....since I way overpaid to start. Wish I had found you all sooner.

 

[brp]

It has been demonstrated that people will pay a huge premium for stays at Disney resorts, even though (IMO) the HGVC and some other properties close to the parks are actually much better properties -- just chalk that up to the "Disney Magic", I guess.

Kurt

Owning also at DVC, I will say that this effect is real. While some of the off-sire resorts are definitely superior as resorts, there is something tangible about being on-property that justifies the premium. And, as you say, the value of DVC is very easy to measure versus getting the same room from Disney. We pay about 1/3 the going rate when original purchase and MFs are factored in.

Cheers.

 

[JohnPaul]

To the original question about two EOY at the same resort. If you are happy with what you own (aside from perhaps the developer price) and you can get the other week resale, it makes perfect sense. This will bring your average cost per point down significantly and give you usage every year.

On the other hand, you might be able to get a better deal (lower MF or more points) on any every year purchase there or elsewhere and just combine that with what you own.

I own at Sedona Pines for RCI points with a reasonable MF and have two alternating EOY with no problems. When I go to sell, however, it will mean two sales, transfers costs, etc rather than one. I don't remember things exactly but I think I bought one EOY and decided it wasn't enough.

 

[alwysonvac]

Thanks, I will think about all that. I know the developer has already been calling to upgrade..... but I believe I read somewhere on here the reminder that "that is throwing money bad money after bad money"....since I way overpaid to start. Wish I had found you all sooner.

I don’t recall seeing the developer prices for Ocean 22 posted on TUG.
I guess you can always ask the developer for their price to upgrade to a one bedroom plus eoy in Platinum Season then use it to compare current resale asking prices at Ocean 22.

I see that Sethnock’s website has an annual (not eoy) one bedroom plus in Platinum Season at Ocean 22 with an asking price of $11,900 - http://www.sellingtimeshares.net/category/listings/hilton/

Judi’s site seems to have lots of Ocean 22 resale inventory but not your desired combination - http://www.judikoz.com/Search.aspx

See this old thread for a list of resale agents frequently mentioned on TUG - https://tugbbs.com/forums/index.php?threads/is-it-ever-possible-to-sell-hgvc-gold-weeks.270537/

 

[bbodb1]

Something else to consider for the OP in their decision making process - there was a time when we really could NOT afford a good vacation each year BUT we could swing it EOY. Given the cost to travel is the same for one week as it is two, with some proper planning you might be able to make a nice destination and stay for two weeks this way. Just an idea to consider..

 

[Bdpd]

Thanks, still looking at all the options

 

[zeld]

Thanks for the reservation windows information. This explains why maintenance fees vary. I asked why would anybody buy in Hawaii if the MF are higher there and they can just trade in. I did not get a valid answer.

 

[GT75]

I asked why would anybody buy in Hawaii if the MF are higher there and they can just trade in.

Surprisingly, this really isn't a true statement. There is a link to MF/points ratio. (https://tugbbs.com/forums/index.php...018-maintenance-fee-list.263776/#post-2062750). Many of the lowest are in HI mainly due to the higher point values.