Newbie Help Needed

[Sugar Land Yak]

I have 5,000 pts (gold) at Tuscany. If I can find a decent deal I want to get to the Platinum Level (7, 000 pts +).

So to get there I need to buy more points, do I need to get my points at Tuscany or does it matter? (yes I understand the maintenance fees can be different)

What does my Home resort really do for me?

Does HGVC really care that I will have 2 deeds? Pro's Con's?

Thanks for the help...

 

[GregT]

I have 5,000 pts (gold) at Tuscany. If I can find a decent deal I want to get to the Platinum Level (7, 000 pts +).

So to get there I need to buy more points, do I need to get my points at Tuscany or does it matter? (yes I understand the maintenance fees can be different)

What does my Home resort really do for me?

Does HGVC really care that I will have 2 deeds? Pro's Con's?

Thanks for the help...

Sugar Land Yak,

Welcome to TUG! I must admit, your computer name is.....unusual. I would love to hear the story...

5,000 points is a great size for many people -- and 7,000 points is terrific too. If you wanted to move up to 7,000, you would need to sell your existing contract (that is worth 5,000 points) and buy a new one worth 7,000 points. The maintenance fees (which are the real cost of timeshares -- the annual fees paid) will be about the same for the Platinum season (7,000 point) contract versus the existing Gold season (5,000 point). There isn't an easy/cost-effective way to add 2,000 points.

From a home resort perspective, having a home resort gives you the assurance that you can definitely book a week at your home resort. This is very valuable for the highest demand properties (like Hilton Hawaiian Village) when you want to travel during summer/holidays/highest peak periods. But otherwise, most properties have good availability 9 months out and home resort advantage is lessoned.

Others will chime in too -- but your existing 5,000 point contract may be sufficient for your needs. Prices have gone up alot over the last year due to Hilton's ROFR and it may not be easy (inexpensive) to buy more points.

Please feel free to ask lots of questions!

Best,

Greg

 

[Sugar Land Yak]

Thanks

Thanks for the quick update..The user name is for a fishing forum here in Texas, I live in Sugar Land and fish out of a kayak.

I wish I had found this site a year and a half ago but we are going to make the best out of the situation that we're in.

I was going to try and increase my points by looking at the Flamingo property which I believe does not have ROFR, and there prices seem to be very reasonable $3 to $4k to put me at 7k+. Thus that's why I had the question about the 2 seperate deeds.

Thanks again for your input.

 

[pianodinosaur]

Points are points and may be used with great flexibility. An upgrade from 5000 points to 7000 points at Tuscany may be expensive in that your up front debt to HGVC will go up. However, your MFs will remain the same. The MFs are the biggest aggravation with timesharing IMHO.

If you want more weeks, you would be better off purchasing resale. The advantages of Elite status do not seem to be worth the additional expense.

 

[RX8]

Does HGVC really care that I will have 2 deeds?

HGVC does not care how many deeds you have - although you will make them happy (and their pockets full) if you bought them all from them.

Most have given you advice about selling the 5,000 pt and purchasing a 7,000 pt, which is good advice. However, I understand it that you are considering a second, smaller deed to compliment your 5,000 pt. You could do that but then you would have TWO maintenance fees.

Have you been able to utilize open season? This is a good alternative to purchasing more points - provided you can be flexible.

 

[Talent312]

Caution:
If you keep your 5K points and buy another TS, you _will_ pay two separate sets of MF's
... only one "club dues," but a set of MF's _for each_.

HGVC will combine the points in your account, but you will be billed a set of MF's for each deed.

 

[pavlovsdog00]

I have 5,000 pts (gold) at Tuscany. If I can find a decent deal I want to get to the Platinum Level (7, 000 pts +).

So to get there I need to buy more points, do I need to get my points at Tuscany or does it matter? (yes I understand the maintenance fees can be different)

What does my Home resort really do for me?

Does HGVC really care that I will have 2 deeds? Pro's Con's?

Thanks for the help...

Although you didn't mention it, I get the vibe you bought retail. If that is the case I'll throw this out there for reference. My father in law (who is an HGVC owner, I am not) was called to a follow up sales presentation. HGVC offered to buy back his 3400 point contract, and give him full retail credit towards a higher point contract. He would not have two MFs...the first one would be completely off his hands, and the 14k he spent (yikes!) would go towards a 5/7000 point package.

Now I know most TUGers would say it's not worth buying retail, and I actually agree. BUT...assuming you bought retail the first time around...this might be a way of getting what you want without the hassle of multiple closings and what not.

Of course you'd have to do the math for yourself. I don't know what a 7000 point package costs retail...nor do I really know what the going rate is resale...

 

[SmithOp]

Although you didn't mention it, I get the vibe you bought retail. If that is the case I'll throw this out there for reference. My father in law (who is an HGVC owner, I am not) was called to a follow up sales presentation. HGVC offered to buy back his 3400 point contract, and give him full retail credit towards a higher point contract. He would not have two MFs...the first one would be completely off his hands, and the 14k he spent (yikes!) would go towards a 5/7000 point package.

Now I know most TUGers would say it's not worth buying retail, and I actually agree. BUT...assuming you bought retail the first time around...this might be a way of getting what you want without the hassle of multiple closings and what not.

Of course you'd have to do the math for yourself. I don't know what a 7000 point package costs retail...nor do I really know what the going rate is resale...

Its not a bad strategy if the purchase was recent and the money is right. If you have owned it a while, it appreciates for HGVC, they will resell it at the new higher price. When I made my 2nd stupid purchase from them, they offered to take my first one for what I paid $19K. The salesman told me afterward, good idea to keep it, it was listed as $29K 5 years after I purchased.

 

[Sugar Land Yak]

Thanks

HGVC does not care how many deeds you have - although you will make them happy (and their pockets full) if you bought them all from them.

Most have given you advice about selling the 5,000 pt and purchasing a 7,000 pt, which is good advice. However, I understand it that you are considering a second, smaller deed to compliment your 5,000 pt. You could do that but then you would have TWO maintenance fees.

Have you been able to utilize open season? This is a good alternative to purchasing more points - provided you can be flexible.

I don't think the open season has been mention to us, any place to get more info on this?

 

[TheWizz]

I don't think the open season has been mention to us, any place to get more info on this?

Look at Page 22 of the 2012 HGVC Member Guide. Basically it is near-term reservations (<30 days) for cash value options instead of using your points.

 

[Talent312]

The 2012 Members Guide can be found online here:
http://multimedia.hiltongrandvacations.com/mg/Book_Reader.cfm?BookId=19
The "rule" for Open Season reservations is at page 155.

Its not "less points," its cash only, at a substantial discount from a hotel booking.
Club and open season reservation periods overlap as both run until the day before check-in.

 

[chriskre]

I only own a biennial with 5K points but I've been using the heck out of the open season. Already have done 4 stays with open season in less than 2 years of owning. If you did want to add points you could always buy a biennial resale with 5K that would put you at 7.5K annually. You can borrow ahead on your points with many reservations.

 

[GTLINZ]

I only own a biennial with 5K points but I've been using the heck out of the open season. Already have done 4 stays with open season in less than 2 years of owning. If you did want to add points you could always buy a biennial resale with 5K that would put you at 7.5K annually. You can borrow ahead on your points with many reservations.

You do have choices which have been discussed already - my take (which may or may not have any value):
1) "trade unit" - this is a buy new / sell existing. This sounds like "platinum remorse" where you know you could have more points for the same MF. Not a bad strategy until you consider you likely will lose some money on the sale (either a commission or not top dollar) and you will incur closing costs on the new unit which are close to $1k. The numbers may pan out in the long run
2) Buy another unit to add points. The big issue here is another MF. You will NOT incur another HGVC fee.
3) Open season - I LOVE THIS FEATURE. I get extra stays without the commitment of owning another TS and being on the hook into eternity. I own a 1br Plat and we use this often but live in GA so waiting until 30 days out is not an issue with us. We also travel with another couple and split a 2br and it is just too easy. But this requires work and flexibility.

 

[GTLINZ]

You do have choices which have been discussed already - my take (which may or may not have any value):
1) "trade unit" - this is a buy new / sell existing. This sounds like "platinum remorse" where you know you could have more points for the same MF. Not a bad strategy until you consider you likely will lose some money on the sale (either a commission or not top dollar) and you will incur closing costs on the new unit which are close to $1k. The numbers may pan out in the long run
2) Buy another unit to add points. The big issue here is another MF. You will NOT incur another HGVC fee.
3) Open season - I LOVE THIS FEATURE. I get extra stays without the commitment of owning another TS and being on the hook into eternity. I own a 1br Plat and we use this often but live in GA so waiting until 30 days out is not an issue with us. We also travel with another couple and split a 2br and it is just too easy. But this requires work and flexibility.

Geez - quoting myself...

If you are willing to own elsewhere, buying another unit may be cheaper in the long run if you get a location with cheaper MFs.... that makes option 1 better.

Since you own gold you do not have a high demand week. I have no issues booking Tuscany 9 months out (Hawaii is another story). We love that place and are up to 13-14 visits in 6 years of ownershipt.

 

[icul8rg8r]

A friend of friend told us about their RETAIL purchase from Hilton. While they were staying at an HGVC resort, he went in to their sales office to ask about trading it in. They were all too happy to talk to him. He & his wife sat through the presentation and when it came to the price, they got up to leave. He told them they could sell their unit (at a loss) and buy a bigger point package RESALE and still come out ahead $$ compared to the price they wanted for the "upgrade". The sales office actually tinkered with their offer and came down almost half of what they orginally offered and threw in some bonus weeks and an "Elite" Membership, so they bought from the developer. Can't hurt to try and negotiate....

 

[Remy]

A friend of friend told us about their RETAIL purchase from Hilton. While they were staying at an HGVC resort, he went in to their sales office to ask about trading it in. They were all too happy to talk to him. He & his wife sat through the presentation and when it came to the price, they got up to leave. He told them they could sell their unit (at a loss) and buy a bigger point package RESALE and still come out ahead $$ compared to the price they wanted for the "upgrade". The sales office actually tinkered with their offer and came down almost half of what they orginally offered and threw in some bonus weeks and an "Elite" Membership, so they bought from the developer. Can't hurt to try and negotiate....

I've tried this too. Only I did it with a resale week. HGVC has no idea how you got your week. I said I got it from gramp's estate. They would have allowed the trade up and I called them on the resale but it was still too much distance. Turns out Gramps got too good a deal in '93.

 

[MikeinSoCal]

I'm interested in particular property to be my home property, so I can have the longer booking option. I found a resale with the size room I'm looking for that is on SellMyTimeshareNow that looks idea to what I've been shopping for. The price is right, but the MF fees are low (kinda suspicious). The season says 'not specified". But if points are points, does it matter?

Also, I've read some posts about SellMyTimeshareNow and they've all been about selling through them. What about buying through them? I'd rather buy from Seth or Judi, but they don't have what I'm looking for.

TIA

 

[slum808]

I'm interested in particular property to be my home property, so I can have the longer booking option. I found a resale with the size room I'm looking for that is on SellMyTimeshareNow that looks idea to what I've been shopping for. The price is right, but the MF fees are low (kinda suspicious). The season says 'not specified". But if points are points, does it matter?

Also, I've read some posts about SellMyTimeshareNow and they've all been about selling through them. What about buying through them? I'd rather buy from Scott or Judi, but they don't have what I'm looking for.

TIA

Season does matter. You only get the home booking advantage for the specified unit size and season you purchase. So if you buy a 2-bed plat 7000 pt, you can book it during the home booking preference period. If you wanted to say book a 1-bed or different season, you'd have to wait to book in the club window.

 

[MikeinSoCal]

Ahh, thanks. I figured there had to be something about it.
I see a lot of listings for HGVC locations that say RED season. HGVC is Platinum / Gold / Silver / Bronze. Which one of these would Red equate to?

Again, many thanks in advance.

 

[slum808]

Red season is generally high season, but you need to be carful because I've seen people list both plat and gold as red. I'm not familiar with the points for your resort, but if its on the standard point chart it should be easy. 2 bedrooms are plat 7000pts, gold 5000 pts. 1 Bedroom plat is 4800 pts and gold I think is 3600. There are some oddballs out there like Kingsland and Grand Waikikian with high point values. Make sure you look at what weeks fall into the platinum season for your resort. It can be different from resort to resort and if you want to use the home booking week you need to make sure you buy the correct season.