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Just purchased with HGVC

F

Florencia88

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HGVC
my husband and I are complete newbies to this and thought we had all the information to make the most informed decision. We signed yesterday with HGVC in Orlando for the smaller package with 3400 points. We went back and forth to get extra points upon signing and ultimately ended up with 12000 points for the first 2 years. We felt good about everything until today when I had some time to search through and found this site with some very good info. I'm afraid we definitely over purchased and I saw that we have the option to rescind within 7 days. We travel about 30 days a year and travel varies from a long weekend to a full week. We were attracted to the many flexible options and the fact that we are looking to start a family and this seemed like an economical vacation choice. Is the best option to rescind and then look to purchase via resale? It seems like we would have the same perks.
 
Rescind ASAP. You don't say what the price was but I am certain you will be able to get more than double the points for a fraction of what you paid. As a resale buyer you are treated the same with the only exception that you are not eligible for "elite" status which only comes with a minimum of 14,000 developer purchased points. While nice, those elite perks are nowhere worth tens of thousands of dollars which is what you will end of paying for elite status.
 
What RX8 said. Look at Redweek and other resale sites and you will see that the value of a 3400 point unit is pennies on the dollar. HGVC is a fantastic system. I love the value over hotel rooms that timeshares provide however you have to know how to work the system - like credit cards it is easy to get yourself in a hole if you don't know how to proceed appropriately.
 
I'll agree with the others -- rescind while you still can! After that, do some more research here, ask lots of questions, and then you can make an even more informed decision on what (if anything) you want to own and purchase resale. If by some chance you would still want to purchase direct from HGVC after that, you can still go to them and get the same deal -- but I highly doubt you will.

HGVC is a good system, but it is not the only good system out there. It works great for me and several people here, but you might find another system that would work better for you personally. Who knows?

Good luck and welcome!
Kurt
 
Rescind immediately! We did something similar about four years ago. The deal sounded great to us until I researched it on TUG. We were able to rescind and purchased 7,000 points from Seth Nock for less than half the cost of HGVC!

Overall we are happy with HGVC and have used our points for trips to Orlando, Myrtle Beach and through RCI to Mexico, St Martin, Williamsburg, Virginia Beach and next year St Thomas.

Take your time and research the system and determine the right amount of points for you.
 
I wish I had been smart like you and found TUG within my rescind period. Unfortunately it about 2 years later, after paying (and then upgrading) at exorbitant prices.

But then I saw the light (ha!) and have resaled (is that a word?) ever since.
 
I agree with the advise that you have already been given. I will add that it looks like you were sold a 1-Bd Gold season. In addition to the high developer price, you will also be paying high MFs (maintenance fees) for the number of points. It would be much cheaper in the long run to purchase resale in platinum season. These are all things which you can learn by taking your time and researching.
 
This is all very helpful! Thank you!


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