RE: Buying Resale at WKORN...

[Bumble Bee Tuna]

Firstly - great discussion group. I've already spent numerous hours perusing the very useful information.

We are interested in purchasing in Maui and have narrowed our search to the new WKORVN - 2BD/BA EOY. My goodness, I think I have you tuggers' lingo down already.:whoopie:

My questions are as follows:

1. Should we purchase Island or Ocean View? OF is out of our budget. My thoughts are OV is good to maintain resale value, in the unlikely event that we decide to sell. Other than that reason, we would be happy with IV.

2. How easy is it to coordinate 2 weeks of back-to-back use through SVN in EOY?

3. Is it possible to use 1 side of the 2bd/2ba lock-off only for one week, and then bank the other side with II. Our goal is to be able to island hop over to the Big Island for the other week.

4. Maintenance fees - what did they start at for you owners at WKORV, and what are they today? Are there any other fees associated with ownership?

Thanks and pls forgive me if my questions are a nuisance.

 

[DeniseM]

Welcome to TUG! Most of the Starwood owners and posts are on the TUG Hotel Based Timeshare Board, and that's the best place for your question, so I am going to ask a Mod to move your post. I hope you'll join us there.

1. Should we purchase Island or Ocean View? OF is out of our budget. My thoughts are OV is good to maintain resale value, in the unlikely event that we decide to sell. Other than that reason, we would be happy with IV.

OV will retain it's value better - have you considered OF at WKORV?

2. How easy is it to coordinate 2 weeks of back-to-back use through SVN in EOY?

It's not hard at all, as long as you call at exactly 12 mos. out as soon as the office opens at 9 am ET. You may be able to reserve both weeks at once, or you may have to call again for the 2nd week.

3. Is it possible to use 1 side of the 2bd/2ba lock-off only for one week, and then bank the other side with II. Our goal is to be able to island hop over to the Big Island for the other week.

Yes - but you will never get an equal exchange value thru II. You would be better off to rent the 2nd week, and then rent the week you want, or exchange for Princeville with an SVN exchange.

4. Maintenance fees - what did they start at for you owners at WKORV, and what are they today? Are there any other fees associated with ownership?

I can't speak for WKORVN owners, because I own at WKROV, but our MF's have gone up 5-10% a year. You also have to pay an SVN fee and a nightly tax at the resort which varies depending on the size of unit and I believe is $12 for a 2 bdm. at this time.

It goes without saying that you should purchase resale!

 

[Bumble Bee Tuna]

RE: Buying Resale at WKORVN...

Welcome to TUG! Most of the Starwood owners and posts are on the TUG Hotel Based Timeshare Board, and that's the best place for your question, so I am going to ask a Mod to move your post. I hope you'll join us there.

Mahalo Denise for pointing me in the right direction.

OV will retain it's value better - have you considered OF at WKORV?

Do you know the typical price for OF at WKORV?

I can't speak for WKORVN owners, because I own at WKROV, but our MF's have gone up 5-10% a year. You also have to pay an SVN fee and a nightly tax at the resort which varies depending on the size of unit and I believe is $12 for a 2 bdm. at this time.

This is my main concern about WKORV. Since it is older (2003 I believe), I am concern the MF will start to really increase as the wear & tear of the resort begins to show its age. Being new, I hope the MF at WKORVN will not increase as quickly, albeit it is already higher than that of WKORV.

It goes without saying that you should purchase resale!

Agreed!

 

[DeniseM]

Mahalo Denise for pointing me in the right direction.

Do you know the typical price for OF at WKORV?

No - but the OF owners on the other board can help you with that.

This is my main concern about WKORV. Since it is older (2003 I believe), I am concern the MF will start to really increase as the wear & tear of the resort begins to show its age. Being new, I hope the MF at WKORVN will not increase as quickly, albeit it is already higher than that of WKORV.

I honestly don't think you will see much difference in MF's - in fact, I bet the yearly increase will be the same for all (eventually) 3 resorts. I don't think it is as much wear and tear as much as it is cost of living and inflation. If there was a significant difference between the resorts, owners will be very unhappy, so I don't that will be much of a consideration. However, you might save some money by buying resale at the WKROV. It's worth looking into - and the ocean front units at the WKORV are far superior to any other view. They will be more then OV at WKROVN, but they should hold their value better, too.

 

[nell]

I believe OF at WKORV is running about $50,000.

 

[LisaRex]

If you can't afford OF, or if you plan to exchange a lot within SVN, then I'd say that you should buy OV at WKORV-N as their ocean view rooms are far superior to its sister property because the buildings are angled.

However, if you plan on exchanging a lot within SVN, I'd say go with IV. You pay a premium for your view at WKORV but the views aren't transferable. If you decide to go to Cancun, for instance, IV owners get the same # of StarOptions as OF owners and in the long run get the much better deal.

Oh, and if it's not clear: buy resale! I paid $52k for my resale OF unit at WKORV-N and they are supposedly retailing for $89.9k.

 

[DeniseM]

But remember that Cancun is SVN voluntary, so resales will not hold their value as well as mandatory resorts.

SVN voluntary means that resales do NOT have Staroptions.

SVN mandatory means that resales do have Staroptions.

 

[LisaRex]

But remember that Cancun is SVN voluntary, so resales will not hold their value as well as mandatory resorts.

SVN voluntary means that resales do NOT have Staroptions.

I wasn't advising her to buy at Cancun, but rather explaining that SVO owners don't keep their view category when they travel to other SVO locations. Paying a premium for a certain view only makes sense if you plan to stay at your home resort most of the time.

 

[Bumble Bee Tuna]

We do plan on using our timeshare more than exchanging.

So in terms of WKORV vs. WKORVN, I have read the physical differences with smaller units, no ovens, etc. at the North pty.

But am I correct to assume buying resale on either pty will result in the same amount of StarOptions transferring to me?

The prices for OF EOY at WKORV and WKORN are about the same, approx. $25K. I would have thought WKORV would be cheaper?

 

[Catazog]

But am I correct to assume buying resale on either pty will result in the same amount of StarOptions transferring to me?

The prices for OF EOY at WKORV and WKORN are about the same, approx. $25K. I would have thought WKORV would be cheaper?

You are correct -- WKORV & WKORVN have the same number of StarOptions, regardless of the view or which resort you choose to purchase. Although WKORV is older, their OF units are spectacular, so perhaps that's why they are the same price as the new WKORVN.

 

[mepiccolo]

We paid $58,500 for OF Center WKORV two years ago (only 12 such units). Even now, seeing that you can get it for a little less, we are thrilled that we own OF Center at WKORV - all you see out the windows is the ocean, the view is priceless. Also the studio unit has a full balcony with the same amazing view - nothing but blue water in front of you. Would highly recommend if you see an OF Center at WKORV that you snag it...they may be a little harder to come by since there are only a few of these units, but this center unit is certainly worth the wait for.