Subsidize existing ownership

[delajode]

We currently own (paid off) a EOY 2BR Silver week (3500 pts) at HGV Seaworld and would like to subsidize it with additional points through a resale. Understanding we will pay additional maintenance fees, we’d like to know if this is coming my done and what’s the best way to accomplish so we will have points every year instead of EOY.

 

[presley]

Either buy an annual or an EOY for the opposite years that you currently own.

Be sure to look at the long term overall costs. Chances are, you will be better buying resale and paying MFs on 2 contracts, but Hilton does offer a trade up where you can use your current contract towards a more expensive contract. They will give you credit for whatever you paid and take your contract back and you'll be buying an annual instead. You'll have a larger payout upfront, but if you plan to own for 10 years or more, it may be less expensive than paying 2 MFs every year. You'll want to do the math yourself. Don't let the sales department do it.

 

[vacationtime1]

Any developer purchase -- even with a trade-in -- will likely cost more than a resale purchase. For sure, do the numbers as @presley suggests. But I am pretty certain that giving away your 3500 eoy point week for free and making a resale purchase of whatever you want (more points, either annual or eoy) will be the least expensive option.

 

[BingoBangoBongo]

What are the MF's you currently pay and how long have you owned it? How many points do you think you want available yearly? I just purchased a EY & EOY and like the fact that I can push points out or pull them up. It does give you some flexibility.

 

[dayooper]

We currently own (paid off) a EOY 2BR Silver week (3500 pts) at HGV Seaworld and would like to subsidize it with additional points through a resale. Understanding we will pay additional maintenance fees, we’d like to know if this is coming my done and what’s the best way to accomplish so we will have points every year instead of EOY.

What do you want to do with your points? Do you want to have the same vacations every year? Do you think you would travel more or different seasons? How many people do you travel with? Answering these questions will really help you determine what you need to get out of your ownership.

You have several options, depending on what you need.

1. Purchase an annual deed (I suggest platinum 2 bedroom for maximum flexibility) and use the existing 3500 points for an extra vacation every other year or a higher point room. You can find platinum 2 bedrooms with substantially lower MF’s that what you are paying now. Even a 4800 point platinum 1 bedroom deed would be great with much lower MF’s.

2. Purchase a platinum 2 bedroom and give away your silver deed. This would reduce your MF liability and give you more points every year. It may take awhile to give that silver weeks away, but you should be able to do it. This would give you more value out of your points.

3. Purchase an EoY opposite of your current deed. Depending on your needs, you can get how as many points as you need.

4. You can take on an EoY deed someone is giving away. This will be similar to what you already own. You can get an EoY gold 1 bedroom worth 3400 points and your MF’s will be lower than what you have now.

How much can you spend right now? The prices are fantastic and HGVC isn’t exercising ROFR much right now so you can get yourself a very good deal. You can potentially lower your total MF liability by giving away your silver deed and purchasing an annual 1 bedroom platinum with a low MF rate. Generally speaking, I believe a platinum 2 bedroom with a lower MF is the best value for your upfront costs, but I don’t know your needs.

 

[PigsDad]

Any developer purchase -- even with a trade-in -- will likely cost more than a resale purchase. For sure, do the numbers as @presley suggests. But I am pretty certain that giving away your 3500 eoy point week for free and making a resale purchase of whatever you want (more points, either annual or eoy) will be the least expensive option.

Absolutely agree. Giving away the 3500 point Silver week and buying a larger, low-MF resale contract will be the best from a financial standing. I know it is hard to hear us recommend you give away something that you probably paid several thousands for, but you really need to treat that amount as sunk funds and focus on what is best going forward.

Kurt

 

[Talent312]

Any developer purchase -- even with a trade-in -- will likely cost more than a resale purchase...
[G]iving away your 3500 EOY week for free and making a resale purchase of whatever you want...[is the best] option.

,,, with my position edited in.