Should I buy? Westin Kaanapali Ocean Resorts Villa North

[bmanhas]

Apologize if this is the wrong forum but i think it is the right one. This is my first post as I've been reading and lurking the past few months.

I was offered by a friend today to take over his family's Westin Ka'anapali Ocean Resort Villas North timeshare. It is a floating week 1-50 and the asking price is $10k USD. I believe there are star options as well.

Just seeking advice, is this a good deal?

Adding missed details:

Island View

2 bedroom lockout

Every year usage

I would be taking over the payments and I believe it has $12k left on it, he will pay the $2k and i will just pay the $10k off now.

My family situation is that we are expecting twins in May so figure getting into a timeshare unit where we could use the points option would be helpful over the next few years.

 

[DeniseM]

Welcome to TUG!

What is the VIEW?

Is it a 2 bdm?

Is it an every year deed - or every other year?

Are you assuming the payments or it's paid off and you would be paying him $10K?

That makes all the difference in the world.

*It does have Staroptions.

 

[bmanhas]

Sorry forgot all the details.

Island View

2 bedroom lockout

Every year usage

I would be taking over the payments and I believe it has $12k left on it, he will pay the $2k and i will just pay the $10k off now.

My family situation is that we are expecting twins in May so figure getting into a timeshare unit where we could use the points option would be helpful over the next few years.

 

[DeniseM]

I don't think an Island View is worth $10K.

I would not take it, because the maintenance fee is really high, and the view is undesirable. $2,597* + $145 SVN fee per year - and it will go up every year.

If you want Staroptions, you should buy somewhere else - the maintenance fee is too high to use this for the Staroptions.

Just to clarify, you won't get Starpoints (Starwood hotel points) - they don't transfer on a resale.

*I corrected the MF - first time I put down the every other year maintenance fee.

 

[pathways25]

Sorry forgot all the details.

Island View

2 bedroom lockout

Every year usage

I would be taking over the payments and I believe it has $12k left on it, he will pay the $2k and i will just pay the $10k off now.

My family situation is that we are expecting twins in May so figure getting into a timeshare unit where we could use the points option would be helpful over the next few years.

I think 10K is a very good price for an every year IV unit at WKORVN. Obviously, the view isn't the best, but the IV units in the North have better views than the IV units in the south. I believe the market right now is at about $17K for this unit and there's a good chance that Starwood would take the unit back via ROFR if your friend tried to sell it to you at 10K.

 

[DeniseM]

OK - I stand corrected on the price! But I still would not want it for myself or for Staroptions - because the MF is so high.

 

[taterhed]

I think 10K is a very good price for an every year IV unit at WKORVN. Obviously, the view isn't the best, but the IV units in the North have better views than the IV units in the south. I believe the market right now is at about $17K for this unit and there's a good chance that Starwood would take the unit back via ROFR if your friend tried to sell it to you at 10K.

Which brings the possibility to mind:

After you determine what a 'good' or 'low' price is, you might consider submitting the low price (if your friend is in a rush to sell it now) and see what happens. If you get it low....more the better. If not, then your friend gets it sold.

But, you would still be on the hook for a very steep MF. Can you use the unit this year/first year available? With twins and airfare etc.... it would be a big expense (unless it's free usage for first year with sale...). I'm not sure that unit would cover MF's in rent.

Think twice...act once.

 

[Bailey#1]

Unless money is no object for you, I would also skip this. If you are new to timesharing you came to the right place. I would spend at least 6-12 months to learn all you can about timeshares before buying one.

Congratulations, on your expecting twins!