Should I purchase a resale Harborside Resort?

[arthursiew]

I found a deal for the Harborside Resort at Atlantis and I don't know whether I should purchase it or not. It costs $500 for the membership plus $200 in transfer fees. Before I purchase it, I have a couple of questions.

1) Is it easy to rent it out?

2) Is parking and internet included for members? I know it's not included for guests, but does that apply to owners too?

3) How hard is it to book a room with them? It's deeded as Week 26, but has floating weeks for 17-34 and 47-49?

4) Is the price good? I am looking at paying $1542 a year if I purchase it.

Any thoughts would be appreciated. I just want to know what you think of this offer and the program in general as I do not want to feel the same way after I purchased the Mayan in Mexico.

 

[andex]

I looked into this resort before. My conclusion was that it was a bit pricey most islands are. I will vacation in Atlantis someday. I will rent, and will be glad that I don’t have an expensive management fee each year. Not sure I want to go there each and every year. Just my opinion of course.

 

[arthursiew]

I just read more and looked at StarOptions. May someone explain the Mandatory Resort concept? I read that the Harborside Resort is a mandatory resort. Does it have something to do with Star Options? I also looked at the Star Option Chart. Since this resort is 44000 SWO, does that mean I can use 44000 SWO to exchange in their network? Thanks.

 

[GregT]

I just read more and looked at StarOptions. May someone explain the Mandatory Resort concept? I read that the Harborside Resort is a mandatory resort. Does it have something to do with Star Options? I also looked at the Star Option Chart. Since this resort is 44000 SWO, does that mean I can use 44000 SWO to exchange in their network? Thanks.

Arthur,

Other -- much more experienced Starwood owners than me -- will chime in. Listen to them they will have good advice for you.

Harborside is reputed to be a spectacular property, but considered expensive as your real cost for this property (or any timeshare) is the ever increasing annual Maintenance Fees (MFs). You should consider carefully whether you will travel frequently enough (in the specific season that you own) to warrant this commitment.

HRA (Harborside Resort at Atlantis) is a "Mandatory" Resort, meaning that your option to redeem your week for StarOptions will pass from its current owner to you -- and then someday from you to whoever buys it from you. Having the ability to convert your week for StarOptions is valuable in that it means you can either 1) book your desired week (in your season of ownership) and use it as planned or 2) you can use the StarOptions to book a reservation at another Starwood property.

StarOptions are useful -- some of the Starwood properties are "Voluntary" (and not Mandatory like HRA) which means that when the property is sold, the ability to use StarOptions is lost and doesn't transfer to the new owner. They buy a week at the property -- and lose the ability to access the rest of the system.

Most people who buy HRA purchase it to visit HRA, and the StarOptions are a secondary consideration. Long story short.....I would pass on this purchase opportunity. Even if you wanted to visit HRA frequently, you should do lots of research before committing to those fees (and that property).

Good luck, and let us know what you decide.

Best,

Greg

 

[tschwa2]

If you already bid/bought this one http://www.ebay.com/itm/300657780081?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2649#ht_4133wt_905 aren't you a little late in asking these questions? It has gone through several listings without any bids. Ebay timeshares maynot be binding but you should research before bidding.

If you decide it doesn't work for you it may (or may not because it is prime season) because the closing through a Bahamian attorney usually costs $900- $2000. The seller probably prepaid this to a PCC to get rid of the TS. The seller tried several times to list with the transfer fees but got no bids so slowly reduced it.

44,000 SO would be the smaller one bedroom side. Sleeps 4. I'm not sure if the MF listed include the additional $125 or so SVN fee. 44,000 SO would not get you very much in most Starwood properties. You can bank years but 2 years of Harborside to get into other resorts wouldn't be worth it. You would do best to rent on years you were not using. That may or may not be more trouble than you are willing to take. You also want to verify if it is a fixed week that floats or phase II that is all float in season. Phase I is difficult to float to anything other than your deeded week. If you like going to Harborside in a one bedroom most years during your fixed or float week and can afford the MF's, it's a good deal.