[ 2013 ] New owner to Maui Westin Villas

[D2k]

Hi all,

I have not read any of the stickies yet but thought I would start by posting my experience here.

I'm not sure if I can post the details of my transaction here so feel free to edit my post if needed.

I purchased just last wednesday April 3rd and was having a little buyer's remorse and found out that I have a 7 day window to cancel according to one of the stickies?

Picked up a 2bdrm LO for $36,900 (every other year starting 2015).
Included in the deal was:
- 100,000 starwood points (rewarded after 6 months or after paying 10% more down)
- $1250 credit since we were staying at the Westin resort next door for 5 days
- 4 promotions for 80,000 starwood points for ~$1550/ea (total 320,000 points available)
- one other promo I can't remember

The interested rate was at 13.9% so I plan on getting that much lower within the 180 days I have.

What I can't wrap around my head right now is the association dues of ~$1400/yr. I knew it was there, I'm still trying to justify it right now. I guess the lure of all those points and the fact that Maui was nearly sold out is what got me.

How does the deal looks so far?
Is paying $1400/yr worth it?
Will Starwood buy it back from me when I no longer want it and at what %?
I read a couple of the threads and people are referring to "II" which sounds like a rollover related thing. Can someone explain?

Thanks.

 

[Ken555]

Welcome to TUG.

Rescind now. Do not wait. Do not pass go. You can always buy again from the developer if you desire in future, and the same deal will still be available. Buy only when you know exactly what you're buying and the ramifications of the purchase. Rescind now and be sure you do so exactly as defined in the documentation you received. Many here suggest faxing the paperwork and sending it overnight mail (with tracking) to verify receipt.

That said, when you're ready to proceed:

- read the FAQ here thoroughly
- determine exactly how you are going to use the ownership (what season or week you prefer to travel, what size unit you will need, etc)
- decide where you should purchase (this will affect your annual dues, trading capability and more)
- understand the Starwood (or whichever affiliation you decide to ultimately buy into) program thoroughly prior to purchase

Basically, knowledge is key. Once you buy it will be extremely difficult to sell. And if you buy direct (as you did) you will lose at least 50% (in your case a lot more than that) the day after the rescind period ends.

Also, many here suggest not buying any timeshare on credit. It's already not an investment other than an "investment in your vacation planning" so if you pay interest as well, you'll find that it's definitely not a good decision (not to mention but 13%+ is simply ridiculous given today's common rates).

I suggest you also check out the WKORV right of first refusal thread here, where there are relevant and recent posts on how much Starwood is paying for the week they sold you (hint: they may have earned 300%+ profit on your deal).

Good luck.

 

[siesta]

First, welcome to tug, glad you found us in time, now, lets knock some sense into you since its not too late.

Rescind immediately. Absolutely horrible deal (and I'm not even talking about the 14% interest rate which I find unbeleivable that you bought at) You have over paid by 10s of thousands buying from the developer. If you buy resale, you could own the same thing for a fraction of the price.

For example, a tugger just sold an annual 2br LO Ocean Front at that resort for ~$22k, yours will sell for much less.

Rescind! Dont call the resort, just follow the instructions to a T.

II is Interval International which is the exchange company you can trade your timeshare.

By the way Maui bulk banks with II, and starwood owners get a pref. period. Therefore unless you are tied to the school schedule, it may make much more sense buying a resort with less MF and trading into Maui and not only saving thousands on the purchase price, but saving thousands on the MF

But you need not concern yourself with any of this.

Step 1) rescind

Step 2) dont buy anything, not even resale

Step 3) research and rent from owners

Step 4) make an educated and informed decision on what and where to buy, and if it even makes sense for you to own.

Step 5) pay it forward

 

[DavidnRobin]

YIKES! RESCIND! Do not delay. It is not that WKORV or WKORVN (what they are referred to on TUG) aren't great resorts (they are), but you can buy resale much much cheaper and only lose out on StarOption to StarPoint conversion (which is no way worth the high premium you paid.). Finding TUG just saved you $$$ - feel fortunate - many do not.

$36K for an EOY! you can buy an EY resale for half of that price and even get an EY OF resale at the south resort (WKORV) for less than that.

As others have said - do no finance a TS. You should consider only buying (IMO) - resale - if you can pay with cash. Plus (importantly) - you would not be able to resell until the mortgage is paid off - many get straddled with this and really stuck.

Remember the 3Rs - Rescind, Research, and Resale...

 

[D2k]

Rescind! Dont call the resort, just follow the instructions to a T.

II is Interval International which is the exchange company you can trade your timeshare.

By the way Maui bulk banks with II, and starwood owners get a pref. period. Therefore unless you are tied to the school schedule, it may make much more sense buying a resort with less MF and trading into Maui and not only saving thousands on the purchase price, but saving thousands on the MF

But you need not concern yourself with any of this.

Step 1) rescind

Step 2) dont buy anything, not even resale

Step 3) research and rent from owners

Step 4) make an educated and informed decision on what and where to buy, and if it even makes sense for you to own.

Step 5) pay it forward

Well, glad I found you guys in time. First order of business is to rescind I guess. I'll read the sticky but I'm assuming there are instructions in my welcome package on how to rescind?

If I buy later from Starwood, will the bonus 100,000 points and 4 promotions at 80,000 points each still be available?

If, down the road, I decide to buy a resale, I understand that I won't be able to do certain things like convert StarOptions to Starpoints? If I buy a Maui resale, can I still book time in a Scottsdale Villa? What are some other things I won't be able to do with a resale?

I'm assuming I will also need to pay the seller's association dues upon buying their TS?

Also, what do "LO" and "MF" stand for?

Is there anything good at all about the "deal" I got? Bonus starwood points/incentives?

Lastly, what is the significance of choosing a "home base" (e.g. Maui vs. Scottsdale vs some other location)? I figure since the villas were all on the staroptions system, the only thing that could make a difference is losing out reservations to someone from a home location if you are competing for the same dates since the person with the home location can book during that 12-8m interval?

Thanks again. I'll keep on reading.

 

[DeniseM]

Rescinding FAQ - http://www.tugbbs.com/forums/showthread.php?t=74493

 

[YYJMSP]

If I buy later from Starwood, will the bonus 100,000 points and 4 promotions at 80,000 points each still be available?

...

Is there anything good at all about the "deal" I got? Bonus starwood points/incentives?

There's always something similar being offered by the developer as incentive to purchase from them...

If, down the road, I decide to buy a resale, I understand that I won't be able to do certain things like convert StarOptions to Starpoints? If I buy a Maui resale, can I still book time in a Scottsdale Villa? What are some other things I won't be able to do with a resale?

If you buy WKORV/N ("Maui"), you are purchasing a Mandatory resort, which means the StarOptions follow on the resale. Those StarOptions are what give you the ability to book at another SVO resort, starting at 8 months out.

If you buy a Voluntary resort, which means the StarOptions don't follow on the resale, you would have to use an external company, such as Interval International, to be able to exchange to another resort.

Lastly, what is the significance of choosing a "home base" (e.g. Maui vs. Scottsdale vs some other location)? I figure since the villas were all on the staroptions system, the only thing that could make a difference is losing out reservations to someone from a home location if you are competing for the same dates since the person with the home location can book during that 12-8m interval?

The other thing that applies to WKORV/N is that you have a view class (Ocean Front, Ocean View, Island View) associated with your deed. If you book during the home resort period (12-8 months out), you will get you deeded view. If you book using StarOptions (8-3 months out), you could get a different view, possibly better than what you own.

And there is always a chance that the property will dissociate itself with SVO, which means you could be locked in to booking at only your home resort (or a completely different set of resorts if the property joined some other club). The general rule is to purchase where you want to stay, and treat the ability to book elsewhere as a bonus.

 

[DavidnRobin]

Well, glad I found you guys in time. First order of business is to rescind I guess. I'll read the sticky but I'm assuming there are instructions in my welcome package on how to rescind?

If I buy later from Starwood, will the bonus 100,000 points and 4 promotions at 80,000 points each still be available?

If, down the road, I decide to buy a resale, I understand that I won't be able to do certain things like convert StarOptions to Starpoints? If I buy a Maui resale, can I still book time in a Scottsdale Villa? What are some other things I won't be able to do with a resale?

I'm assuming I will also need to pay the seller's association dues upon buying their TS?

Also, what do "LO" and "MF" stand for?

Is there anything good at all about the "deal" I got? Bonus starwood points/incentives?

Lastly, what is the significance of choosing a "home base" (e.g. Maui vs. Scottsdale vs some other location)? I figure since the villas were all on the staroptions system, the only thing that could make a difference is losing out reservations to someone from a home location if you are competing for the same dates since the person with the home location can book during that 12-8m interval?

Thanks again. I'll keep on reading.

No, there nothing good about this offer.
The rescind papers should be located in your Owners Package - they should have pointed out to you.

SVO is not sticklers about rescinding (they are a professional organization after all) - other than will try and talk you out of it if you contact them.
Just follow the instructions, and do not let the 7 day rescission period pass.

Even if you decide to buy from SVO at a latter time (the 4th R - Requalifying) you should buy resale 1st. Requaling is an advance activity and main purpose is to get to 5* Elite as cheaply as possible. You have a lot more to figure out before even thinking about this.

LO = Lockoff - this is what you bought (where they discussed you can separate the villas)

MF = Maintenance Fees (paid annually - and go up every year w/o the associated StarPoints (SPs) going up.

SO = StarOptions - used for SVO TS stays

You can acquire SPs (used for SPG hotel stays) by getting an AMEX SPG card.

For a SVN Mandatory resort (WKORV, WKORVN, WSJ, HRA, SVV - some phases) the only thing you lose is the ability to convert SOs to SPs - that and the ability to go thru the Elite levels (3*, 4*, 5*) - of which only 5* has really any significant value (to some), but costs $$$ to obtain, and the time and money to travel.

SVN Voluntary resorts (all the rest) - do not have the ability to use SOs in SVN (Starwood Vacation Network) upon buying resale.

Both can use II.

There are many strategies, but 2 things are true - 1) do not buy from SVO (as your 1st), and 2) one size does not fit all - meaning everyone's vacation needs and TS usage are different.

The only real truth that came from your TS salesperson is that when buying a TS you are investing in vacation. This is important because generally TSing is for those willing to plan ahead.

SVO is a great program and has great resorts, but not for all.

 

[siesta]

Well, glad I found you guys in time. First order of business is to rescind I guess. I'll read the sticky but I'm assuming there are instructions in my welcome package on how to rescind? yes there is rescind info in your package, if not, use the sticky.

If I buy later from Starwood, will the bonus 100,000 points and 4 promotions at 80,000 points each still be available? I take this to mean, if you decide later to buy from the developer? Yes that "deal" will be there, but remember it is NOT a deal, at all.

If, down the road, I decide to buy a resale, I understand that I won't be able to do certain things like convert StarOptions to Starpoints? If I buy a Maui resale, can I still book time in a Scottsdale Villa? What are some other things I won't be able to do with a resale?If you buy a mandatory resort, you can use SO, if a voluntary resort you would trade within II. Depending on when and where you travel, you may not even need SO

I'm assuming I will also need to pay the seller's association dues upon buying their TS?Of course, buying resale saves you on the purchase price, the MF are the same

Also, what do "LO" and "MF" stand for? Lockout and maint. fee

Is there anything good at all about the "deal" I got? Bonus starwood points/incentives?Absolutely nothing at all, whatsoever

Lastly, what is the significance of choosing a "home base" (e.g. Maui vs. Scottsdale vs some other location)? I figure since the villas were all on the staroptions system, the only thing that could make a difference is losing out reservations to someone from a home location if you are competing for the same dates since the person with the home location can book during that 12-8m interval?Yes, you got it.

Thanks again. I'll keep on reading.

answers are above in red.

Wanted to point out that david left out Westin Kierland Villas (WKV) as a mandatory resort.

Dont determine right now whether you need a mandatory or voluntary resort, you have a lot of reading to do.

 

[D2k]

Thanks all so far.

I have my rescinding documents all printed and signed and ready to go out on Monday. That gives me the rest of the weekend to read up some more.

So let me jump ahead of myself a little bit here.

Let's say I send in this request to rescind and all goes well. If you were in my shoes and wanted to purchase something at either a similar room benefit or at a similar price (~$35k), what are the listings out there like on the resale market?

Who sells these resales? Starwood or another company?

And, correct me if I'm wrong, but these are the things I would "lose out" on:

- bonus starwood points and promotions
- only if I buy a mandatory resort can I transfer SO to SP? (is this the same case when you buy direct from Starwood?)

I will also take over any MF from a resale and MF goes up every year.

Am I missing anything else? Any other disadvantages when not buying directly from Starwood?

So it sounds like the overall purpose towards rescinding a direct contract and picking up a resale is to purchase a timeshare for a considerably lower amount even though you lose out on a few small perks such as bonus SP and elite status which are not worth it anyways. I'll keep on reading!

 

[siesta]

Thanks all so far.

I have my rescinding documents all printed and signed and ready to go out on Monday. That gives me the rest of the weekend to read up some more.

So let me jump ahead of myself a little bit here.

Let's say I send in this request to rescind and all goes well. If you were in my shoes and wanted to purchase something at either a similar room benefit or at a similar price (~$35k), what are the listings out there like on the resale market?

Who sells these resales? Starwood or another company?

And, correct me if I'm wrong, but these are the things I would "lose out" on:

- bonus starwood points and promotions
- only if I buy a mandatory resort can I transfer SO to SP? (is this the same case when you buy direct from Starwood?)

I will also take over any MF from a resale and MF goes up every year.

Am I missing anything else? Any other disadvantages when not buying directly from Starwood?

So it sounds like the overall purpose towards rescinding a direct contract and picking up a resale is to purchase a timeshare for a considerably lower amount even though you lose out on a few small perks such as bonus SP and elite status which are not worth it anyways. I'll keep on reading!

you can find resales on ebay, redweek, and even here on tug marketplace.

Not sure why you would be looking for something in the same price range when you had to finance it at 14% ? Buy something you can afford to pay cash for.

Dont buy anything for a few months, trust me on that one.

To answer your question, only a developer purchase can transfer SO to SP, no resale can. But again, the value of this benefit isnt worth the out of pocket cost.

Only reason to buy hawaii is if you are going to consistently stay there, because the MF dont make it a cost effective trader within SVN or within II.

Only reason to buy a mandatory resort is if you need to travel during holidays or school schedule consistently or otherwise high demand periods and 8 months in advance, or for WSJ. Because if your flexible, you can still get those high demand periods via II

If you are more flexible, you can save thousands on the purchase price, and even have lower cost of exchanging in via a voluntary resort and using II. For example, instead of pay $10-15k for WKV plati um and using the 148,100 SO for a 2br maui exchange for half the price of the maui MF, you can use the small side of SDO and get the 2br for even half the WKV MF.

It all depends on what best compliments your travel style.

 

[SMHarman]

Thanks all so far.

I have my rescinding documents all printed and signed and ready to go out on Monday. That gives me the rest of the weekend to read up some more.

So let me jump ahead of myself a little bit here.

Let's say I send in this request to rescind and all goes well. If you were in my shoes and wanted to purchase something at either a similar room benefit or at a similar price (~$35k), what are the listings out there like on the resale market?

Who sells these resales? Starwood or another company?

And, correct me if I'm wrong, but these are the things I would "lose out" on:

- bonus starwood points and promotions
- only if I buy a mandatory resort can I transfer SO to SP? (is this the same case when you buy direct from Starwood?)

I will also take over any MF from a resale and MF goes up every year.

Am I missing anything else? Any other disadvantages when not buying directly from Starwood?

So it sounds like the overall purpose towards rescinding a direct contract and picking up a resale is to purchase a timeshare for a considerably lower amount even though you lose out on a few small perks such as bonus SP and elite status which are not worth it anyways. I'll keep on reading!

It's a helluva education process from here out and will take you a couple of months.
By that point you will be EEY, EOY, MF, ROFR at WKV WKORV, SBP etc with the best of them.
You need to work out what you and your family needs as a vacation ownership (school holidays, 2Br, 1Br etc) and where.
The main factor is you are in the place where all sensible and most stupid questions will get answered, even if the response you get is read the FAQ.
Looking at questions above...
Who sells resale, well you just bought one. At retail. Starwood has sold out HI more than once. They have ROFR so buy back and sell at retail again! Unlike a used car they can sell it new more than once! Realistically there are some good people and good sites and ebay for buying resale though.
The MF on resale == MF on developer purchase. Nothing changes there.
StarOptions>StarPoints, the $$$ saved more than makes up for this and the 4th R, Retro (if you ever get that far is a key part of the education)

 

[D2k]

Not sure why you would be looking for something in the same price range when you had to finance it at 14% ? Buy something you can afford to pay cash for.

Dont buy anything for a few months, trust me on that one.

To answer your question, only a developer purchase can transfer SO to SP, no resale can. But again, the value of this benefit isnt worth the out of pocket cost.

Only reason to buy hawaii is if you are going to consistently stay there, because the MF dont make it a cost effective trader within SVN or within II.

Only reason to buy a mandatory resort is if you need to travel during holidays or school schedule consistently or otherwise high demand periods and 8 months in advance, or for WSJ. Because if your flexible, you can still get those high demand periods via II

If you are more flexible, you can save thousands on the purchase price, and even have lower cost of exchanging in via a voluntary resort and using II. For example, instead of pay $10-15k for WKV plati um and using the 148,100 SO for a 2br maui exchange for half the price of the maui MF, you can use the small side of SDO and get the 2br for even half the WKV MF.

It all depends on what best compliments your travel style.

I guess I'm not familiar with SDO yet (does that stand for Sheraton Desert Oasis?) so that last part was a little over my head but I get what you are saying (you can get Maui for cheaper than paying for Maui). As for the 13.9%, I definitely balked at that but was going to get it down to 4.5%. I guess you are saying that timeshares are not really a way to save money on vacation, rather, a way to spend less on a nicer vacation?

It's a helluva education process from here out and will take you a couple of months.
By that point you will be EEY, EOY, MF, ROFR at WKV WKORV, SBP etc with the best of them.
You need to work out what you and your family needs as a vacation ownership (school holidays, 2Br, 1Br etc) and where.
The main factor is you are in the place where all sensible and most stupid questions will get answered, even if the response you get is read the FAQ.
Looking at questions above...
Who sells resale, well you just bought one. At retail. Starwood has sold out HI more than once. They have ROFR so buy back and sell at retail again! Unlike a used car they can sell it new more than once! Realistically there are some good people and good sites and ebay for buying resale though.
The MF on resale == MF on developer purchase. Nothing changes there.
StarOptions>StarPoints, the $$$ saved more than makes up for this and the 4th R, Retro (if you ever get that far is a key part of the education)

Can you play devil's advocate for me and pretend you are my Starwood agent and tell me why I shouldn't rescind the contract?
MF was my main reason for rethinking this thing over and over. Is paying $1400/yr worth an EOY 2 bdrm LO? That's what I kept asking myself over and over.

 

[siesta]

I guess I'm not familiar with SDO yet (does that stand for Sheraton Desert Oasis?) so that last part was a little over my head but I get what you are saying (you can get Maui for cheaper than paying for Maui). As for the 13.9%, I definitely balked at that but was going to get it down to 4.5%. I guess you are saying that timeshares are not really a way to save money on vacation, rather, a way to spend less on a nicer vacation?



Not sure what all those acronyms are.
Can you play devil's advocate for me and pretend you are my Starwood agent and tell me why I shouldn't rescind the contract?
MF was my main reason for rethinking this thing over and over. Is paying $1400/yr worth an EOY 2 bdrm LO? That's what I kept asking myself over and over.

yes sdo = sheraton desert oasis.

Any interest payments on a timeshare purchase is a waste of money. And those acronyms stand for every even year, every odd year, main. fee, right of first refusal, sheraton broadwy plantation, etc. I think there might be a link in the faq that has these listed.

If you want a devils advocate you came to the wrong place. Go do another timeshare presentation or call the salesman for reasons why you shouldnt rescind, Im sure he has plenty

 

[LAX Mom]

I guess you are saying that timeshares are not really a way to save money on vacation, rather, a way to spend less on a nicer vacation?

Is paying $1400/yr worth an EOY 2 bdrm LO? That's what I kept asking myself over and over.

Timeshares provide wonderful vacations with family & friends, but aren't necessarily cheap. If you want to stay at the Westin Maui once every 3-4 years, it would be much better to rent from an owner.

If you pay $1,400 per year for an EOY 2 bedroom, it's costing you $2,800 for your week vacation or $400 per night. That is less than renting from Westin, but you are obligated for that $1,400 every year even if you don't use the timeshare. It could be a burden in the future.

Research, ask questions, figure out what will work for your family and then start looking for a timeshare option that you can afford now. It doesn't make sense to finance a timeshare purchase. Payments for 10 years on a timeshare don't help if you want to save money on vacations.

 

[DeniseM]

You don't want to finance a timeshare. There are many very nice timeshares on the market right now which you can pick up for cheap or free. I highly recommend that you buy something that you can pay cash for.

 

[DavidnRobin]

Hi, I am a Timeshare salesman - the reason you should not rescind is because I will lose my large commission on your impulse buying, and my extra bonus because you are foolish enough to finance it. As the saying goes - money doesn't buy happiness - so give it to me...

Is that what you are looking for?

 

[Quadmaniac]

I guess I'm not familiar with SDO yet (does that stand for Sheraton Desert Oasis?) so that last part was a little over my head but I get what you are saying (you can get Maui for cheaper than paying for Maui). As for the 13.9%, I definitely balked at that but was going to get it down to 4.5%. I guess you are saying that timeshares are not really a way to save money on vacation, rather, a way to spend less on a nicer vacation?

Can you play devil's advocate for me and pretend you are my Starwood agent and tell me why I shouldn't rescind the contract?
MF was my main reason for rethinking this thing over and over. Is paying $1400/yr worth an EOY 2 bdrm LO? That's what I kept asking myself over and over.

I will boil it down to dollars and cents from a pure financial standpoint.

You can buy SDO for less than $1000 for a 2 br lockout every year with $1050 MF per year. Locking this unit off into 2 units will allow you to have two exchanges in Interval. When the bulk deposits come up for the Westin Maui - 2 exchanges into at least a 1 br but quite possibly a 2 br for two weeks.

$1050 MF
$124 Starwood to Starwood exchange #1
$124 Starwood to Starwood exchange #2
$89 II membership
--------
$1387 for two weeks in a 1 br or 2 br at the Westin Kaanapali EVERY YEAR!

$1387 for 2 weeks in 1 br or 2 br at an initial cost of say $1,000

or

$1400 every year for 1 week in a 1 br at a cost of $36,900

With the $35,900 you saved, you don't have to pay any interest and no long term payments.

 

[jarta]

The interested rate was at 13.9% so I plan on getting that much lower within the 180 days I have.

Rescind. If the purchase price for a TS week anywhere is $36K and you decide to or have to finance the purchase (from Starwood or any other TS seller or reseller), you have no business buying the TS.

Not rescinding is a recipe for disaster. Only buying TS vacation weeks for "all cash" and with "idle cash" which you can afford to lose entirely is very good advice. Salty

 

[D2k]

Hi, I am a Timeshare salesman - the reason you should not rescind is because I will lose my large commission on your impulse buying, and my extra bonus because you are foolish enough to finance it. As the saying goes - money doesn't buy happiness - so give it to me...

Is that what you are looking for?

lol, not really. My thought is the salesman would go over the fact that StarOptions cannot be converted to Starwood points, no more bonus starwood points or promotions. I think this was covered, but if I buy a resale at WKOR, can I use those points for their other villas? Sorry, so much information after reading all your posts and all these FAQ's. Interval is still a beast I haven't yet read up on.

 

[D2k]

I will boil it down to dollars and cents from a pure financial standpoint.

You can buy SDO for less than $1000 for a 2 br lockout every year with $1050 MF per year. Locking this unit off into 2 units will allow you to have two exchanges in Interval. When the bulk deposits come up for the Westin Maui - 2 exchanges into at least a 1 br but quite possibly a 2 br for two weeks.

$1050 MF
$124 Starwood to Starwood exchange #1
$124 Starwood to Starwood exchange #2
$89 II membership
--------
$1387 for two weeks in a 1 br or 2 br at the Westin Kaanapali EVERY YEAR!

$1387 for 2 weeks in 1 br or 2 br at an initial cost of say $1,000

or

$1400 every year for 1 week in a 1 br at a cost of $36,900

With the $35,900 you saved, you don't have to pay any interest and no long term payments.

Thanks. I think I need to look into how Interval works for me to fully understand how these exchanges work.

So even if I were to buy a resale of SDO that doesn't qualify me for StarOptions, I could still use Interval to make it work in WKORV?

 

[klpca]

We did what you did (developer purchase) back in 2006 and rescinded a few days later after finding TUG. It took us five years to actually purchase a timeshare. All of our purchases were from ebay and Sumday Vacations, and the most that we paid for a ts was about $500, including closing costs. Most were substantially less.

Fast forward to now. Last year we bought an EOY SDO (just seeing how you're doing with the acronyms ) off of eBay and traded our large one bedroom for a two bedroom unit at WKORV for this Nov using Interval. It works great for us as we're no longer stuck with school schedules, although our most recent trade is for a 2 bedroom at Lake Tahoe at Thanksgiving, and we also traded our Palm Desert gold week for a week between Christmas and New Years at the same location. We've made multiple trades into Hawaii, and we'll be spending a week at the Four Seasons in Scottsdale in May. This is a fun hobby.

Sure you'll miss out on some of the perks of a developer purchase but you'll have to decide how much those perks are worth to you. We don't feel that we've missed out on anything. But we saved a boatload of money thanks to the great advice we received from the people on TUG.

 

[bastroum]

Most people buy first then learn later (myself included). You should take your time, learn everything you can about timeshare vacations and then buy. The world will NEVER run out of timeshares you can buy (or get for free). Do not finance a timeshare. Most of mine were purchased for less than $1000 and many were only $1. You can take some very nice Hawaii vacations with a timeshare you got for very little and traded through II.

 

[dlca1]

Another important consideration is what view type you are looking for.

Did you purchase island view, ocean view or ocean front for the 30k+?

Trading through SDO will likely result in an island view. You also need some flexibility and diligence to find the trade.

If you are happy with an island view, you can also just consider renting from owners. You can probably find something not much higher than MF

I ended up buying a SDO and am in the process of buying an annual 2 bedroom wkorvn ocean view-- all with primary purpose of going to westin Maui. If I'm lucky, that should net me 2 weeks in paradise each year. By comparison, your purchase costs at least twice as much and you end up with 1 week every other year.

Another thing I learned through tug is that it is easy to buy a timeshare and much harder to get rid of. I understand the desire to rush into another purchase. However if you can, try reading through the threads and ask questions first.

Good luck

 

[dlca1]

One more thing, I only bought ocean view, but the advice around here is either buy elsewhere like sdo or platinum WKV (westin kierland) for cheaper maintenance fees. if insisting on buying at wkorv/n then buy ocean front. I've talked with some folks and people can rent their ocean front for a very nice premium

If you are trying to keep maintenance fees down, I guess you would want to avoid the deluxe rooms, which have annual MF of ~3000