Club Wyndham Access Points? Worth it?

[alm99]

It's been 6 years since I posted and still have not bought in. My kids have grown and soon we will be empty nesters that can travel more. Initially I was looking at a deeded property in our favorite family vacation spot but now I'm eyeballing just buying these points. Since these are not truly deeded to any one property, are there any special assessment fees that could be incurred?

 

[bnoble]

Yes and no: assessments at any constituent resort would be spread across all CWA contracts.

The annual fees on CWA contracts are a little on the high side. Not as bad as some, but a bit worse than what might be considered "average." That's the main disadvantage. They carry no voting rights at individual resorts (the Trust retains those). The main advantage of CWA is (nearly) system-wide ARP. Because they are not deeded, "foreclosure" is a lot simpler for Wyndham. That could be viewed as an advantage or disadvantage, depending on one's point of view.

 

[alm99]

Yes and no: assessments at any constituent resort would be spread across all CWA contracts.

The annual fees on CWA contracts are a little on the high side. Not as bad as some, but a bit worse than what might be considered "average." That's the main disadvantage. They carry no voting rights at individual resorts (the Trust retains those). The main advantage of CWA is (nearly) system-wide ARP. Because they are not deeded, "foreclosure" is a lot simpler for Wyndham. That could be viewed as an advantage or disadvantage, depending on one's point of view.

Ok, so the expectation is that there could be a special assessment bill received out of the blue? I'm just trying to nail down the expected costs. I don't want to go in thinking the MF will be XXXX a year knowing that there is an annual increase of 3-5% on average and then out of nowhere get a bill for thousands for "special assessment" since there is not one deeded property.

 

[cbyrne1174]

Ok, so the expectation is that there could be a special assessment bill received out of the blue? I'm just trying to nail down the expected costs. I don't want to go in thinking the MF will be XXXX a year knowing that there is an annual increase of 3-5% on average and then out of nowhere get a bill for thousands for "special assessment" since there is not one deeded property.

If your goal is just to own points for booking 10 months out, CWA is a terrible idea. The average cost is much higher than just paying more upfront for a low maintenance fee deed. Grand Desert has low maintenance fees and is very common to find. I would just own there unless you need larger rooms during the 10-13 month booking period.

 

[bnoble]

Ok, so the expectation is that there could be a special assessment bill received out of the blue?

I don't think so. As I understand it, any assessment at an individual property would just be folded into everyone's costs in the year it is due. Think of it like a shared risk pool.

 

[GRapuser]

If you own points that are deeded at a given resort there is always a possibility of a "special assessment," but these are rather rare. If the Homeowners' Association does a good job managing the budget and making sure that everything is properly insured, there is very little risk of this, but it does happen. If you own CWA points, if any of the resorts contained in the trust issue a special assessment, the CWA trust would be responsible for a portion of it. So technically, the chance of an assessment is higher, but it would be spread out amongst many more people, so the dollar amount would be lower.

 

[Sandi Bo]

How many special assessments actually occur? Even with the hurricanes in Florida, and most of the resorts have been affected to some degree in the last 5 years (all but Clearwater if my memory serves me right), the resorts have insurance and as mentioned the HOA's manage things well. The idea of CWA and minimizing risk of a big hit, IMO, is a line for sales, nothing more.

Other than the ARP, which may not matter (depending on where you want to go and if you are plan that far out), a deed with low maintenance fees (regardless of where the resort is located) is the way to go.

 

[bnoble]

How many special assessments actually occur?

Sea Gardens had one about 15 years ago (right before I bought a converted week there), and there may have been a few others, but I agree: these resort budgets are generally well-managed, and the risk of a huge outlay is relatively small. It's not zero, but it is small.

And add me to the chorus that a lower-cost deed is more valuable than CWA ARP. I don't think CWA is a bad idea, but it's not the direction I would go.

 

[cbyrne1174]

Grand Desert isn't likely to have one. It's in the middle of a desert!

 

[ausman]

Add me to the chorus that a lower-cost deed is more valuable than CWA ARP.

I have come to believe however that some CWA points can be advantageous in an overall points holding but I would never advise a first purchaser to buy CWA. The specific instance would be if you are having extreme difficulty in getting a desired reservation in the high demand period(s) and that/those desired resort(s) is/are part of CWA, and only buy enough to satisfy that specific need.

 

[paxsarah]

Add me to the chorus that a lower-cost deed is more valuable than CWA ARP.

I have come to believe however that some CWA points can be advantageous in an overall points holding but I would never advise a first purchaser to buy CWA. The specific instance would be if you are having extreme difficulty in getting a desired reservation in the high demand period(s) and that/those desired resort(s) is/are part of CWA, and only buy enough to satisfy that specific need.

And it should go without saying (maybe here, but it definitely needs to be said when this comes up on FB) - that those attempts at booking high demand periods are being made at exactly 10 months, midnight. CWA doesn't help anyone if you're trying to book at less than 10 months.

 

[bnoble]

And it should go without saying (maybe here, but it definitely needs to be said when this comes up on FB) - that those attempts at booking high demand periods are being made at exactly 10 months, midnight.

Exactly. I booked a 2BR at Old Town Alexandria for Easter/Cherry Blossom several years back. This was the old system that went offline for several hours each night. I was hitting refresh right at 6A when it opened, and booked right then. There was inventory for maybe five minutes after I finished booking, but by 6:10 the 2BRs were gone.

Sadly, it was an unusually cold spring, and the blossoms were late. We still had a grand time.

 

[dgalati]

Grand Desert isn't likely to have one. It's in the middle of a desert!

A few years back I did feel the earthquake from California while in Las Vegas.

 

[GRapuser]

Grand Desert isn't likely to have one. It's in the middle of a desert!

And who knows what water use assessments might be coming down the pike in the next decade or so?

 

[cbyrne1174]

And who knows what water use assessments might be coming down the pike in the next decade or so?

That sounds like something they would add to the MF, not a special assessment

 

[paxsarah]

That sounds like something they would add to the MF, not a special assessment

Or in a resort fee.