New to HGV

[Donefh]

Rescind if you can.

Your Maintenance Fees are just over $0.17/point and you paid $35,000.
You could buy a "resale" Platiumum week at say $0.10-$0.13/ point for under $5,000. Meaning you could ahve 50% more points a year for the same maintenance fees.
At a 7% rate of return thast $30,000 of savings would almost pay the maintenance fees on resale forever.

That said, its a good product, but you were sold a Gold Week. They will upsell you to a Platinum Week, which is what we recommend buying resale.

Personally I would not buy Florida and I would rescind, but that's your call.

If you want an education, please listen to a few of the Sold in 60 Podcasts. These sellers know how to get you to trust them and then sell you in under 90 minuntes a dream of vacations. I'm totally fine with that, its just the price you end up paying is much higher than it should be. TUG is about getting a better deal, so you can take more and better vacations.

I love this feedback. Thanks!

 

[Reddart]

A lot to read and learn on this site, but the quick and dirty summary is buy a high points/MF ratio deed at a location with historically low MF annual increases (usually Vegas) and use the points as club points to stay at just about any HGVC location, or for certain properties that are more difficult to book, you purchase at those locations to get a better reservation window.

 

[Donefh]

OK, HGV is trying to sell you an HGVC deed then. You did post in the correct forum then. @HuskerATL just gave away a gold season Florida deed, but not sure if it was Seaworld earlier this year. I wouldn’t recommend taking any HGVC Orlando deed even for free. The Florida Gulf resort deed, I would only recommend if using your week there after someone understands Florida resort MF increase risks.

btw, HGVC is a very good TS system (IMO) as long as you purchase resale. HGVC also treats their resale owners very well with almost all of the same benefits as retail owners (no HGVMax and doesn’t count towards elite levels unless you purchase from a HGVC resale agent at specific resorts).

Care you to elaborate on this statement please?

"I wouldn’t recommend taking any HGVC Orlando deed even for free. The Florida Gulf resort deed, I would only recommend if using your week there after someone understands Florida resort MF increase risks."

 

[Donefh]

A lot to read and learn on this site, but the quick and dirty summary is buy a high points/MF ratio deed at a location with historically low MF annual increases (usually Vegas) and use the points as club points to stay at just about any HGVC location, or for certain properties that are more difficult to book, you purchase at those locations to get a better reservation window.

Thank you for this info.

 

[GT75]

I just faxed and sent a certified mail to start the process and received word that the cancellation is being processed and that I will be refunded in 20 days

Congratulations. We do have some wonderful HGVC Tug members who just want you to make an informed decision. And, the best part is that we are not getting a commission for any sale (or advice).

Expect to get a frantic call from your salesperson soon (like maybe today). There is no requirement to talk with them and in fact they are only trying to salvage their commission. I wouldn’t recommend talking with them because you already have proof that HGV will legally honor your rescission.

 

[Chris-ATX]

@Donefh welcome to the amazing TUG world and congrats on recession!

There will be many opportunities to learn and acquire a deed(s) to suit your needs. Ask questions. I’m still new and learning all the time but happy to help out however I may.

Cheers!

 

[GT75]

I wouldn’t recommend taking any HGVC Orlando deed even for free.

Florida TS resorts MFs are expected to have significant increases due to increase inspection costs, repairs, and insurance cost increases due to new Florida condo requirements

 

[WaikikiFirst]

just FYI, not sure if links to ebay auctions are allowed but there is a 2 bd gold, 8K pts at LV Blvd for sale now for $1000. you don't get your 16k bonus points but it seems to come with the 8K pts from 2024, which idk, may or may not be usable / saveable depending on when a purchase closes & HGVC does its thing

 

[pedro47]

Please rescind ASAP. Please retain all your paperwork and please read TUG Help & Advice Section about buying a timeshare.
Good luck . Suggestion only...Please do not attend anymore timeshare sale presentations until you read TUG: Help & Advice Section.

 

[Donefh]

@Donefh welcome to the amazing TUG world and congrats on recession!

There will be many opportunities to learn and acquire a deed(s) to suit your needs. Ask questions. I’m still new and learning all the time but happy to help out however I may.

Cheers!

Appreciate the help!

 

[Donefh]

Please rescind ASAP. Please retain all your paperwork and please TUG Help & Advice Section about buying a timeshare.
Good luck . Suggestion only...Please do not attend anymore timeshare sale presentations until you read TUG: Help & Advice Section.

This is essential. Thanks for the info

 

[rc51]

Congrats on rescinding in time. I, too, went down that road and was able to rescind. Since you bought it, you clearly found the offer to be a great value. Imagine how happy you will be to find the same or better offer for (literally) 10% or less of the price. I know I was *very* happy; and I've been happy with the product since!

 

[Mr.G]

Everyone on here is AMAZING. I just faxed and sent a certified mail to start the process and received word that the cancellation is being processed and that I will be refunded in 20 days. I could not have done it without you amazing people providing quick, quality feedback.

Thank you!

I still want to purchase a deed, but I need to do my research on this site to learn more about the weeks and where to purchase the property. Any tips that I can use to educate myself on everything HGV would be great.

One more thing I want to add here. Buy a deed with at least 15000points with 0.1 MP ratio. This system requires minimum points to take benefits.

 

[dayooper]

One more thing I want to add here. Buy a deed with at least 15000points with 0.1 MP ratio. This system requires minimum points to take benefits.

I think a standard 2 bedroom platinum deed that gives 11,200 points with a good $0.10 MF ratio is a great starting point. They are easy to find and can be had for a good price. Not sure what benefits you are talking about, but you can’t get Max benefits from buying resale. If you are going for the old Elite benefits, you would have to buy from a place like Craigendarroch Lodges and I believe you will need more than 15,000 points to achieve the first status.

 

[heitmullerj02]

HGVC is much cheaper than 35k, glad you can rescind and get your money back. They do treat resale owner well and I would rec the system. I own 2 gold contracts and enjoy them every year. Both 2 bedroom 8k points in Carlsbad and 9200k points in HI. HI maintenance fees are much higher so avoid those if you don’t want to go there.

 

[Donefh]

One more thing I want to add here. Buy a deed with at least 15000points with 0.1 MP ratio. This system requires minimum points to take benefits.

I have to learn about the ratio aspects of this equation so will look into that first.

 

[Donefh]

I think a standard 2 bedroom platinum deed that gives 11,200 points with a good $0.10 MF ratio is a great starting point. They are easy to find and can be had for a good price. Not sure what benefits you are talking about, but you can’t get Max benefits from buying resale. If you are going for the old Elite benefits, you would have to buy from a place like Craigendarroch Lodges and I believe you will need more than 15,000 points to achieve the first status.

I will be looking very soon as soon as I get educated on the terminology and how to buy a timeshare that can benefit my family.

 

[Mr.G]

I think a standard 2 bedroom platinum deed that gives 11,200 points with a good $0.10 MF ratio is a great starting point. They are easy to find and can be had for a good price. Not sure what benefits you are talking about, but you can’t get Max benefits from buying resale. If you are going for the old Elite benefits, you would have to buy from a place like Craigendarroch Lodges and I believe you will need more than 15,000 points to achieve the first status.

Benefit of using the system normally. With 5000 points, the option is limited. Won’t work in Hawaii for example.

 

[BingoBangoBongo]

HGVC is much cheaper than 35k, glad you can rescind and get your money back. They do treat resale owner well and I would rec the system. I own 2 gold contracts and enjoy them every year. Both 2 bedroom 8k points in Carlsbad and 9200k points in HI. HI maintenance fees are much higher so avoid those if you don’t want to go there.

I’ve got an EOY Kingsland 1BR with 20,160 points that has a MF around $.08/point, so I wouldn‘t exclude HI.

 

[4TimeAway]

I’ve got an EOY Kingsland 1BR with 20,160 points that has a MF around $.08/point, so I wouldn‘t exclude HI.

I was agasint EOY, but with borrowing and the lower purchase price these types of contracts seem ideal for getting access to homeweeks if you'd want to use them.

I do wonder about future resale value, but I suspect we all just assume we will give them away or maybe have to pay a bit.

 

[BingoBangoBongo]

I was agasint EOY, but with borrowing and the lower purchase price these types of contracts seem ideal for getting access to homeweeks if you'd want to use them.

I do wonder about future resale value, but I suspect we all just assume we will give them away or maybe have to pay a bit.

It’s just like having an EY 11,000 point deed. I own two other EOY deeds. Call me crazy

 

[pedro47]

Are 18,000 points deed per year a good valuel for HGV ?

 

[dayooper]

Are 18,000 points deed per year a good valuel for HGV ?

Depends on purchase price and MF ratio. If your MF to point ratio is decent (around $0.10 per point), that’s good. There is a higher acquisition cost, but always look at the price per point when purchasing resale. A 2 bedroom platinum Boulevard deed with a great MF ratio has been running no more than $6000 (much less recently) and that’s about $0.54 per point. That would be approximately $9600 for an 18,000 point deed. You also have to factor in the MF ratio as well. Many of the Kingsland premier 2 bedroom platinum deeds are a really good value but can cost a bunch of money upfront.

 

[kanerf]

Just a note for the OP, I recently purchased HGVC Parc Soleil 7680 points off of eBay for $1. Of course it takes months to get the deed and points in your name, but at just a $1, I can wait.