New BGV floating week owner

[KiwiTG]

We recently bought into the Grand Colorado on Peak 8, direct from developer.
We still are waiting for our new owner meeting which is end of the month.

Our biggest confusion is which method to use our floating summer week, options I can figure out myself:
Book a week every odd year starting 2023
Deposit our week until the BGV system and use that points base to book shorter stays at the property.
Deposit into II
Exchange into II

I don't like last option as we would be tied into a week exchange whereas we want to have flexibility to do shorter vacations as well as at least 1-2 week long ones each year.

Anything I'm missing or not considering?

 

[rjwehr]

Based on what you have stated, it sounds like you are describing the reservation process correctly. Use it, swap it for points, or trade it.
One thing you may want to be aware of with a floating week is the reservation date. Some resorts have a 12-month window (i.e. You can reserve exactly 12 months or less from the date you want to stay) For example, if you want to go for the July 1, 2023 week, you need to be on the phone or computer at 12:01am on July 1, 2022 locking in your reservation The reservation window (12-month, 11-month, etc.) will vary from resort to resort. You need to be intimately familiar with what that is for Grand Colorado on Peak 8.

If you are still in your rescission period, you may want to consider rescinding and buying resale instead.

Good luck with whatever you decide.

 

[KiwiTG]

Based on what you have stated, it sounds like you are describing the reservation process correctly. Use it, swap it for points, or trade it.
One thing you may want to be aware of with a floating week is the reservation date. Some resorts have a 12-month window (i.e. You can reserve exactly 12 months or less from the date you want to stay) For example, if you want to go for the July 1, 2023 week, you need to be on the phone or computer at 12:01am on July 1, 2022 locking in your reservation The reservation window (12-month, 11-month, etc.) will vary from resort to resort. You need to be intimately familiar with what that is for Grand Colorado on Peak 8.

If you are still in your rescission period, you may want to consider rescinding and buying resale instead.

Good luck with whatever you decide.

The resale market is something we have considered, it does hurt what we paid for it but our plan is to maximize the investment for our benefit.

One other question is fractional ownership, can you increase that to be come an actual owner of a unit?

 

[moonstone]

our plan is to maximize the investment for our benefit.

A timeshare, especially one bought at a hugely overpriced amount from the developer, is not an investment. Investments increase in value over time. Your timeshare is worth far less (maybe 98%) now than what you paid for it. Read all the info here and in the Help & Advice section (blue banner at top of page) and consider rescinding if you are within the legal timeframe. We can stay at the same resort, in the same or larger size unit, on the same week with our free timeshare as anybody who paid $10K, $20K or more for theirs.


~Diane

 

[KiwiTG]

A timeshare, especially one bought at a hugely overpriced amount from the developer, is not an investment. Investments increase in value over time. Your timeshare is worth far less (maybe 98%) now than what you paid for it. Read all the info here and in the Help & Advice section (blue banner at top of page) and consider rescinding if you are within the legal timeframe. We can stay at the same resort, in the same or larger size unit, on the same week with our free timeshare as anybody who paid $10K, $20K or more for theirs.


~Diane

Investment doesn't always have to be monetary, although normally it is viewed this way.