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Help me understand...bought Grand Islander from tour...

Discussion in 'Hilton Grand Vacations Club / HGVC' started by G33KIDAD, Sep 29, 2019.

  1. G33KIDAD

    G33KIDAD Guest

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    Hello all,

    Been watching this site for a handful of years since after our first tour (been on three total now.) I still feel a bit lost on determining value.

    We just got back from a Lagoon tower stay and presentation and ended up buying...

    Here is what they offered us:

    All options would not start distributing points until 2020, with first MF payment due in 2020.

    Option #1
    Grand Islander - 1BR - Gold - 5100 Annual - $42,990 - $1,538 MF

    Option #2
    Grand Islander - 1BR - Platinum - 7200 Annual - $57,990 - $1538 MF

    Option #3
    Grand Islander - 2BR - Platinum Plus - 12,600 Annual - $91,990 - $2003 MF

    Option #4
    Grand Islander - 2BR Premier - Gold - 10,500 Annual - ($89,990 List) $76,590 - $2003 MF

    We pursued option #4, and they originally threw in 34,000 bonus points. When we hesitated and asked for more they bumped it to 51,000 bonus points that don't expire until 9/26/2021 as long as we have something booked, so they could last for an additional 9 months beyond that.

    The 10,500 points is supposed to allot us the ability to stay in our assigned room during our assigned season for 7 days. Our contract indicates we have week 19, in room 2703. I don't know if any of this really matters.

    We paid cash for this and it's all done with.

    I have a rough understanding that resell is obviously much less expensive than buying from the developer. However, we would like to obtain status as we tend to maximize those benefits in other programs we are in. Presently we are diamond members as well. We tend to travel two weeks a year, and like to have a total of 4-5 adults, and one child under 18 with us when we do. We love Hawaii, and go there often but go other places as well. I have three base questions.

    1. Approximately how good/bad of a deal did we get IN comparison to other developer purchases?

    2. Moving forward, what is the best way for us to obtain the additional points needed to obtain status and/or reduce future booking fees, etc.?

    3. What are the best/most common resell deals to look for from a structure standpoint for us to add to our point pool?

    As a side note, we were heavily interested in a 3 bedroom penthouse in Grand Islander, but they were not available. We would use this size room at least once every year.

    If it's easier to post places for me to research myself, I'm more than happy to follow, but have had a difficult time finding the answers to my questions on my own and figured that the group of experts can answer quickly, or point me in the right direction.

    Thank you so much for all of your time!
     
    Last edited: Sep 29, 2019
  2. dayooper

    dayooper TUG Member

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    Are you trying to pursue Elite Status? I don’t have it, but those that do don’t think it’s worth the cost. Any resale purchase outside of a couple of resorts purchased directly from HGVC don’t count toward elite status. Any developer purchase is a hurry or deal. You can get the same unit for 25% less or better.

    Recind immediately, you have only a few days to do so. Research the difference between resale and developer units (no elite status is about it). That deal, or a better one will be available later. The ability to recind won’t be.
     
    TUGBrian likes this.
  3. SmithOp

    SmithOp TUG Member

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    Option 4 does not get you any status, HGV Elite starts at 14,000.

    I don’t think you can book Penthouse without owning one at GI, you wont have enough points anyway. Not positive but I think its the same as Grand Waikikian, have to be a PH owner. You *might* be able to get a Lagoon Penthouse.

    I think you should rescind. Forget about HGV Elite and look for some high point resales to get the amount of points needed for the stays you want. For what you paid with option 4 you could buy two 14,400 point units resale and still have enough to cover booking fees for 20 years!


    Sent from my iPad using Tapatalk Pro
     
    RX8 likes this.
  4. pianodinosaur

    pianodinosaur TUG Review Crew: Veteran TUG Member

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    I have Elite Plus Status. The benefits are not worth the increased cost.
     
    Hobokie likes this.
  5. Grammarhero

    Grammarhero Official TUGBBS Rescission Master TUG Member

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    Been to:
    Intl: Aruba, Aus, Bah, China, Jpn, HK, Macau, Mex
    US: AZ, CA, DC, DE, IL, IN, KY, MD, NC, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, WV
    Rescind. Heck of a lot of money to buy developer when you can buy resale.
     
    TUGBrian likes this.
  6. TUGBrian

    TUGBrian Administrator

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    congrats on dodging a 76,000 mistake!
     
    Grammarhero likes this.
  7. Anthony Schmid

    Anthony Schmid TUG Member

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    Buy in Scotland. Cheap and the purchase counts towards Elite Status.
    There is 9600 points for sale at Craigendarroch for £9600. The Maintenance fee will be over £1000 for 2020.
    You can buy 7000 points for £3400 at Coylumbridge with a Maintenace fee of £550.
    You can buy 7000 points for £6000 in Dunkeld.
    All counts toward Elite status. Here is the the contact info for all 3 HGV Resorts in Scotland

    upload_2019-9-29_13-25-3.png
    upload_2019-9-29_13-25-18.png
    John Pringle at Craigendarroch

    john.pringle@hgv.com
     
  8. frank808

    frank808 TUG Member

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    As others have said, rescind immediately. You could buy 5 units at scotland for under $24k USD with activation/enrollment fee. You will also be elite premiere with that purchase and would have 3.5 times the amount of points to use and save over $52,000 dollars. Use the $52k saved to pay the maintenance fees for the next 13 years on your 35k hgvc points.

    Sent from my SM-T217S using Tapatalk
     
    Last edited: Sep 29, 2019
  9. Anthony Schmid

    Anthony Schmid TUG Member

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    Not to mention that Closing cost in Scotland is £195 and add another £290 to activate each week to HGVC.
     
    Grammarhero likes this.
  10. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    They didn't dodge anything. They bit on this dog and won't let it go.

    Perhaps we should congratulate them for spending about 3x too much.
    And congratulations on those bonus points. Most will go poof in 2 years.
    Then they'll be left with a TS for which they still paid way too much.
    ... But truth be told, we need someone to keep HGVC in business.
    .
     
  11. G33KIDAD

    G33KIDAD Guest

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    Thank you all for the quick replies! You have helped tremendously with what the next steps should be.

    I have already faxed the cancellation and will be sending it via mail as well.

    We will be pursuing the Scotland options that were recommended here, so thank you for the contact information as well.

    The only remaining question I need to find the answer to now, is what was mentioned about not being able to book the PH at GI without owning one. Nothing of that was mentioned when we purchased, however that doesn't mean that it is not true. We did bring this up multiple times about wanting to stay in the PH, so they were given multiple opportunities to admit that caveat.

    Thanks again to Anthony, and the others of you that supported the needed direction and feedback!
     
    Karen G, Hobokie, Anw015 and 3 others like this.
  12. brp

    brp TUG Member

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    The one risk here for those in the US buying here is that the exchange rate comes into play. At present, the GBP is particularly weak against the dollar, but it has been as high as $2/GBP not too far back. Obviously still a lot of financial turmoil in the UK at present, but this is a consideration.

    Cheers.
     
    Grammarhero likes this.
  13. G33KIDAD

    G33KIDAD Guest

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    I'm ok with the exchange rate issue, as we'll actually be purchasing something that will net what we want, and will be significantly less. However, thank you for the reminder!
     
  14. G33KIDAD

    G33KIDAD Guest

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    I've also reached out to the three people you mentioned Anthony, so thank you!
     
  15. brp

    brp TUG Member

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    Agreed. Still a good deal. This is just because MF/point ratio is one of the important metrics we use here and this one is subject to more than the usual set of fluctuations.

    Glad you avoided the overcharges. Hope you'll become a Member and stick around!

    Cheers.
     
  16. Anthony Schmid

    Anthony Schmid TUG Member

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    The Scotland resorts will also rent out your lodge if you prefer not to use the points or week that year. They will also help sell it for you. I have attached the 2 forms
     

    Attached Files:

  17. G33KIDAD

    G33KIDAD Guest

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    Thank you Anthony! This setup sounds too good to be true. Why are others not doing this as well, or are they and because I'm new, I just don't know?
     
  18. Anthony Schmid

    Anthony Schmid TUG Member

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    I think people are afraid of the exchange rate. I purchased when the USD to GBP rate was 1.3 and now i see it around 1.24.
    I started posting the prices on the HGVC facebook groups.
    I heard that Hilton in Scotland is receiving a a lot of calls from American buyers to become elite premier and Hilton is not happy. When I go to owners updates in Las Vegas, Park City, Utah and Orlando, not even the sales people know about this
     
  19. Bao Nguyen

    Bao Nguyen TUG Member

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    As right now all the affiliate properties with HGVC are good with low M/F . I'm not sure what happen when HGVC got bought ? the new investors or the affiliate properties renew their contract/agreement ? I know it won't happen tomorrow, I'm talking 2-3 years from now.
     
  20. dayooper

    dayooper TUG Member

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    The Scotland properties are all listed as developed. Doesn’t that mean that HGVC owns those and they aren’t affiliates?
     
  21. Bao Nguyen

    Bao Nguyen TUG Member

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  22. CalGalTraveler

    CalGalTraveler TUG Member

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    Grand Islander is a third party developed resort. If you wanted to upgrade it with HGVC they will not accept it as a trade-in. With the rumored Apollo/Diamond acquisition, I would be wary because if they won't accept as a trade-up, then perhaps 20 years down the road, they would not accept it as a deedback either.

    Points values can change and if the MF increases significantly after GI sells out and the developer subsidies cease or Apollo/Diamond jacks up the rate, then the MF to point ratio would be less desirable affecting the resale value of the unit.

    In addition, many GI units on the lower floors have inferior views and some look at the air conditioners on the roof.
     
    Bao Nguyen likes this.
  23. CalGalTraveler

    CalGalTraveler TUG Member

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    To hedge your bets you could mix a Vegas unit from the FEPS (Flamingo, Elara, Paradise or Strip) into the mix with Scotland but this may not get you Elite.

    Elara may not be traded in either. The other FEPS are 100% HGVC developed.

    FEPS 2 bdrm plats run about $1 a point plus closing fees of about $1500. Resales don't count toward Elite.
     
    Last edited: Sep 29, 2019
  24. CalGalTraveler

    CalGalTraveler TUG Member

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    Congrats on rescinding and saving yourself more than $50k.

    Below is the points chart for GI. When I looked in the system, I didn't see availability for 3 bdrm penthouses and a few categories of 2 bdrm penthouses. Not sure how that works.

    Would you consider the 3 bdrm penthouses in Lagoon Tower or Grand Waikikian? If you need peak school calendar weeks, then you might want to consider one of these resale because using points to book 3 bdrm units during peak is next to impossible. This would still save you a lot of money over the GI options and these are nicer units than what they offered you.

    If you are considering one of these or other islands you should also speak with licensed resale broker, Syed Sarmaad www.advantagevacations.com Syed is a well respected TS broker and specializes in Hawaii.

    Now that you have rescinded. Slow down and take your time to research because you are still spending a lot of money resale so you want to make the best choice for your situation. Follow the 3 Rs of timeshares:

    Rescind
    Research
    Resale

    upload_2019-9-29_13-26-37.png
     
    Last edited: Sep 29, 2019
    RX8 likes this.
  25. CalGalTraveler

    CalGalTraveler TUG Member

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    Here's some of Syed's current listings for GI at a fraction of your developer price. Syed also may know of other Hawaiian units for sale that are not listed, and has listings for other Hawaiian location such as Lagoon Tower and Maui.

    upload_2019-9-29_13-51-0.png
     
    Last edited: Sep 29, 2019

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