Am I making a mistake?

[Socallocal]

Am I overpaying?
Details -
$5,900
11,000 points
$1,150 mf

Flamingo platinum 2 bedroom

My goal is to travel with my family (4 people) at least once a year for 3-7 days. I was running the numbers and this seems to be a good deal but can’t tell if I’m just dreaming.

 

[dioxide45]

If you bought direct, then yes, you are overpaying.

 

[HuskerATL]

Probably 11,200 pts, right? I think this is a good price. I assume that you need to add in closing/transfer costs also which is another $2k. It is about $0.10 MF/pt which is pretty good.

Here is what is on ROFR.net for comparison but, just know, many don't add their resales here.

 

[ernststarhemberg]

Very reasonable. Enjoy.

 

[mjm1]

I agree with others that this is a good deal. We bought ours for $6,000 plus closing, etc. in 2019. Is it possible to do better, sure. But is the extra effort and time worth it. Only you can decide that. Enjoy!

Best regards.

Mike

 

[Socallocal]

If you bought direct, then yes, you are overpaying.
Why if I brought direct is this overpaying? Or just a general statement?

 

[HuskerATL]

If you bought direct, then yes, you are overpaying.
Why if I brought direct is this overpaying? Or just a general statement?

Probably more of a general statement since buying direct, typically, is a rip off. You are buying resale, so a different discussion.

 

[GT75]

If you bought direct

I wish direct were these prices. Direct would cost ~50K in today's pricing.

 

[Mongoose]

Probably more of a general statement since buying direct, typically, is a rip off. You are buying resale, so a different discussion.

Agree with a few minor exceptions like key ski and Maui weeks.

 

[HuskerATL]

Agree with a few minor exceptions like key sky and Maui weeks.

My opinion still a rip off. You will never break even with those deeds and, probably better off renting. I will stick with cheap points and then use them there.

 

[Socallocal]

My opinion still a rip off. You will never break even with those deeds and, probably better off renting. I will stick with cheap points and then use them there.

Is it the total price or the mf that is the rip off?I am trying to work the math to see how it is a rip off or not.

 

[CalGalTraveler]

@Socallocal He's not talking about your deal. Its fair.

He is responding to the off-topic discussion about buying direct which does not apply to your situation.

 

[Socallocal]

@Socallocal He's not talking about your deal. Its fair.

He is responding to the off-topic discussion about buying direct which does not apply to your situation.

Got it - sorry I’m very new to this. Just trying to help my family without being ripped off haha

 

[4TimeAway]

Got it - sorry I’m very new to this. Just trying to help my family without being ripped off haha

It seems reasonable, but it’s not the lowest possible.

Do you want this place to vacation at or just to use points?

We bought 11,200 points for a 2 Bedroom Platinum at Marbrisa for $3,150, but the MF is higher. We wanted to take our nieces to Legoland and SD Zoo and the distance from LA made sense to us. Wish I wanted to splurge on a 3 bedroom, but it just seems unnecessary as in a few years it will mainly be the two of us and maybe another couple.

I feel like LV has a ton of units and is less likely to be in short supply. I see the location as less desirable than HI, CA and other West Coast locations. I’m probably wrong, but seriously I’m trying to read tea leaves and optimize for $1,000 over a decade.

If you stay at a hotel, you may spend 2x the timeshare MF so it really doesn’t matter. If you use it and you look forward to vacations, the extra small cost is meaningless.

 

[Socallocal]

Do you want this place to vacation at or just to use points?

I was planning to use the points to transfer to other places and maybe do a couple of days in Las Vegas here and there.

 

[4TimeAway]

I was planning to use the points to transfer to other places and maybe do a couple of days in Las Vegas here and there.

It seems like not a huge gamble, it could cost a couple thousand dollars to sell or give away, worst case.

To me the idea of vacation planning months in advance and actually going is worth the small cost. Also, I want to get a sense of how TS could fit in retirement travel.

We bought Marbrisa and Kohala. The idea of "having to use both" sounded really great.

Vegas to us is mainly a place we might want to live near and not TS at.

 

[Nowaker]

On a more expensive side but not overpriced. I paid $3.9K + closing for an identical deed in November 2021.

 

[letsgobobby]

it's a fair to good resale price for that deed. great first deed.

 

[Talent312]

I concur with those who say it's a fair deal.
---------------
The direct vs. resale comments are not
germane and only confuses the issue.

 

[muscae]

I was planning to use the points to transfer to other places and maybe do a couple of days in Las Vegas here and there.

FYI There is a 3 night minimum for stays using club points, so a couple of days in Vegas would require you to use open season OR book 3 nights with points and check out after the second night and burn the points for the third night. Open season in vegas can be a great choice especially for a fri to sun stay.

 

[dayooper]

I agree with that it’s a fair deal, not a great one, but we you can look forever for a “great deal” and never find it. Flamingo go was my first deed and we have been happy with it.

 

[HuskerATL]

Is it the total price or the mf that is the rip off?I am trying to work the math to see how it is a rip off or not.

Sorry for the confusion, I was responding to the buying direct comment. Buying direct cost you about 90% more than resale. There are no options, to me, where it makes sense. Now, you could pay a lot more for a high demand resale, than the cheap ones, which I get because it is a specific location/time of year/large number of points, then I get it.

Your deal is good. I would go for it if you want to own in HGVC. How much are you closing costs?

 

[HuskerATL]

It seems reasonable, but it’s not the lowest possible.

Do you want this place to vacation at or just to use points?

We bought 11,200 points for a 2 Bedroom Platinum at Marbrisa for $3,150, but the MF is higher. We wanted to take our nieces to Legoland and SD Zoo and the distance from LA made sense to us. Wish I wanted to splurge on a 3 bedroom, but it just seems unnecessary as in a few years it will mainly be the two of us and maybe another couple.

I feel like LV has a ton of units and is less likely to be in short supply. I see the location as less desirable than HI, CA and other West Coast locations. I’m probably wrong, but seriously I’m trying to read tea leaves and optimize for $1,000 over a decade.

If you stay at a hotel, you may spend 2x the timeshare MF so it really doesn’t matter. If you use it and you look forward to vacations, the extra small cost is meaningless.

Unless you want to stay in a hard to book location/time of the year, which California and Vegas aren't, then it doesn't matter where you own. Just buy where it is the cheapest cost/pt and MF/pt. They can use the Vegas points anywhere so as long as they get a decent purchase price. It is the MFs that you pay forever.

 

[HuskerATL]

I was planning to use the points to transfer to other places and maybe do a couple of days in Las Vegas here and there.

That is what we do. We have 10 weeks at Craig Lodges, 2 weeks at Blvd, and one at Tuscany Village. We occasionally stay at Tuscany but never the other two. We just use the points at other locations. We currently have 12 upcoming reservations between now and June with 7 of the being at Ocean Oak.... Which is hard to book and expensive to own at.... Including two OF weeks....

My philosophy is to buy cheap with low MFs, 0.10 or less, and then use them wherever you want to go but plan early.....9 months out.

 

[HuskerATL]

It seems like not a huge gamble, it could cost a couple thousand dollars to sell or give away, worst case.

To me the idea of vacation planning months in advance and actually going is worth the small cost. Also, I want to get a sense of how TS could fit in retirement travel.

We bought Marbrisa and Kohala. The idea of "having to use both" sounded really great.

Vegas to us is mainly a place we might want to live near and not TS at.

You don't need to own where you want to visit. The only time it matters where you own is either for HW, which most people never use, or bHC lounge/early booking. Because HW is the exact unit type that you bought, the specific check in day, and the specific season, which many people don't always want... They want a different check in day, unit type, season, or property.... So, then where you own doesn't matter because you are using club reservations.