Sandpiper Beach Club Siesta Key

[Suespak]

I’m looking to purchase weeks 4 and 5 at Siesta Key and found a gulf front unit for these weeks. Purchase price is $22,500 each. Is this a normal range? Is this a good investment at this resort? Thanks!

 

[Rdub79]

I think most would say that any timeshare is not an investment as in it most likely will not appreciate in value or provide reliable cash flow. But if you crunch the numbers and by buying two units for 45k plus the annual maintenance fees paid yearly that will most likely increase at 3% divided by the number of years that you plan on using this come out cheaper then renting for all those years, then I would say it is a good choice. I’m not familiar with that particular resort though so maybe someone else can chime in about the typical cost. And I would definitely try to negotiate. It never hurts to ask.

 

[dioxide45]

I suspect this is a small resort and you are looking for a week in peak snowbird season. Your main issues will be finding units for sale. Have you contacted the property directly to see if they have a list of owners looking to sell? While many timeshares are worth very little, small independent properties in prime locations for peak weeks can still command top dollar. Only you can determine if the price is what you are willing to pay. A lack of supply may indicate it is worth more than the average timeshare.

 

[cory30]

This is a small resort with a total of 26 2-bedroom units (10 gulf front; 16 gulf view). The OP's price for gulf front units at that time of year may be the going rate (given the limited inventory - availability seems to be largely limited to resales through the resort). Resale listings directly through the resort range from $14,000 to $18,000 for what are likely less desirable weeks ($14,000 is weeks 18 and19; $20,000 is week 51). Weeks 1-16 are not available which could indicate high demand for snowbird season. Listed rental rates for a similar week (week 2) is $2,500 although given the limited availability, being able to secure a rental every year probably isn't guaranteed. I don't know anything about the resort, but limited supply may certainly warrant that price point if someone has a desire to own there at that time of year.

 

[TheTimeTraveler]

I’m looking to purchase weeks 4 and 5 at Siesta Key and found a gulf front unit for these weeks. Purchase price is $22,500 each. Is this a normal range? Is this a good investment at this resort? Thanks!

Is this Hyatt Siesta Key? If so, be aware that Redweek has several resale listings there for $30,000 as of today.

The bad news? Maintenance fees there are over $7,000 per week. Something fishy for sure.........

Tread carefully!









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[rapmarks]

It is not the Hyatt, it is close to it, right near the traffic light by stickny point bridge.