HGVC 11200 points - Platinum - 1BR Elara for $5900 + closing costs -- good deal?

[skepticalone]

I placed an offer for $1500 and this is the counter I received:

$5900 price
$979.37 reimbursement for Mfs + taxes (2024 points usage)
+ closing costs $1,084 for Escrow, recording fee, doc prep, admin fee and Hilton’s resort transfer fee ($474 of this quote amount is Hilton’s resort transfer fee). Once closed, 2 to 4 weeks after ownership is in your name HGVC will bill you directly for the annual HGV Club dues in the amount of $209 and their one-time points activation fee of $695. Both these fees are not part of the closing costs and are billed directly to you and you can pay HGV Club directly by credit card.

Is this a good deal? Can I find one of these where the owner wants to give it away for free?

 

[TolmiePeak]

I'm interested in buying there. I'm new at this and what I have learned here so far that if you intend to keep this for awhile the maintenance costs per point are generally more important than the upfront cost. Of course the lower the upfront cost the better. Your price seems decent although I was going to wait to see if I can get a 2 bedroom platinum week there for $5,000.

 

[skepticalone]

I'm interested in buying there. I'm new at this and what I have learned here so far that if you intend to keep this for awhile the maintenance costs per point are generally more important than the upfront cost. Of course the lower the upfront cost the better. Your price seems decent although I was going to wait to see if I can get a 2 bedroom platinum week there for $5,000.

How are you looking for this?

 

[TolmiePeak]

How are you looking for this?

I've been looking here, Redweek, E*Bay. I know there are probably others but I'm not too serious yet. I was going to take Hilton up on one of their discounted stay offers to make sure I like the Elara first. Looks pretty nice though and I like the location. Last time we stayed at the Marriott Grand Chateau which is right across the street. That place is nice but the pool there is nothing special. The Elara pool looks better. Plus the Marriott maintenance fees are much higher.

 

[jp10558]

I don't think you need to own in Elara to stay there most of the time. I think those look like pretty low MFs for the points, so the purchase price is higher. You don't usually see 11,200 points with low low MFs go for free. Assuming it's just points, you can probably pick up a slightly cheaper Blvd or Paradise maybe. I think I saw one discussed in this forum today. You could also compare craig lodges in Scotland - it's a RTU, so less closing costs, and has low MFs and some other benefits.

 

[TolmiePeak]

I don't think you need to own in Elara to stay there most of the time. I think those look like pretty low MFs for the points, so the purchase price is higher. You don't usually see 11,200 points with low low MFs go for free. Assuming it's just points, you can probably pick up a slightly cheaper Blvd or Paradise maybe. I think I saw one discussed in this forum today. You could also compare craig lodges in Scotland - it's a RTU, so less closing costs, and has low MFs and some other benefits.

Thanks. So just pick up one of the cheaper contracts from the other HGVC properties in Las Vegas?

 

[skepticalone]

Thanks. So just pick up one of the cheaper contracts from the other HGVC properties in Las Vegas?

If you end up paying $300 more per month, I don't think it's worth it.

 

[jp10558]

Thanks. So just pick up one of the cheaper contracts from the other HGVC properties in Las Vegas?

It depends on the MFs and whether you want to save up front or over the long haul. IDK the going rate MFs at all the locations, and it's confused because quite a lot of sales quote the club fees also, which is about $300...