First time posting. Not even sure if I’m doing it right. Went to a BG vacation seminar this past week in Orlando, FL. I’m brand new with time shares. No nothing. They wanted $42,000 for 20k points per year. Annual maintaince fee of $1789 with vacation club dues of $154. I didn’t buy anything. Just curious to know how this really works and if people enjoy the company or if they suck. Thanks
Pretty good first move in not buying directly from the Developer. The advice you have gotten here about shopping around and buying resale is sound. Some Bluegreen spicifics the sales folks won't tell you:
1) Bluegreen is best for planners - availability opens up at 11 months out and if you want a prime unit/location in the summer or around a holiday, its best to be online at midnight to the day (11 months prior to checkin) and grab your reservations. That said, there are locations with tons of availabilty, The Fountains in Orlando is one of them, that have opening a few months out, but those are generally not the beach.
2) One of the nice perks of Bluegreen is bonus time, where at 48 days out you can grab a reservation and pay cash - 2BR units are $79/night. That perk is limited if you buy resale. It is limited to only the resort(s) in which you are "deeded". So if you have aspirations of using Bonus Time at a certain resort, be sure to buy resale at that resort. This limitaion is lifted if you own a "charter" deed - one that is bought from Bluegreen directly or via Pinnacle Vacations (has to be charter points, but its possible to buy at less than $2 a point), Bluegreen's resale outlet. So you have to decide, preferably after you have used the system, if Bonus time is worth the added expense of buying charter points. It is not unheard of to own a small charter deed of 3000 points and 25K+ resale points - points spend the same way, charter or resale, it is just the benfits (above and beyond direct points usage) are limited with resale.
3) ROFR on resale - Recently Bluegreen is been exercising ROFR often. There is no specific $/point amount for which they take or pass on ROFR, but some will say that number is $0.20/point. I have seen deeds pass lower and deeds taken higher. Regradless, buying low and selling high is good business for Bluegreen. Expect a success rate around 20%. Note - until recently, buying non-charter points from Pinnacle has been a guarantee pass of ROFR. While buying from Pinnacle may cost a little more (Pinnacle charges the Seller $2000 commision on sale), there are some good values there if you buy more than 25K points and get a seller to break even, i.e. cover their cost ($2000 +$500 listing) - so $2500/25K is about $0.10/point. With all resale, eBay or Pinnacle or direct, just be careful to know two things - if there are any owed maintenance fees or when the next maintenance fees are due. As the buyer you will be responsible for both ...
4) Which brings me to the last point, as with any timeshre, assume that maintenance fees are perpetual. I look at MF with Bluegreen in terms of $/point as all your reservation are some quantily of points and thus some specific cost to you. The way the MF are structured in the current Trust is a base fee and then an incramental fee, currently its $373 + $0.0708*points. Given this, $/points will do down the more points you own. Here is where you have to decide how many vacations you want out of BG. Assume a 2BR costs you 13K points for a week and you want 2 weeks a year, thats 26K points at $2367 in annual fees (there is a $154 annual club dues on top of MF). Thats $0.091/point for those 26K points or two weeks. That 9.1 cents will only go up. Obviously if you owned more points, the $/point will go down to ~8 cents, but you have to own more than 60K points and pay $4775 a year. I say this to say that it is quite possible to rent points from other owners at about 8-8.5 cents a point on various Facebook pages. While there are downsides to points rentals, risk of scam is possible & limited inventory (most owners will rent you points, but may not be willing to stay up til midnight to grab you a 2BR oceanfront unit in July), but you are not having to pay MF in perpetuity ...
Anyways, some food for though. Also there is a FB page, Bluegreen Timeshare Secrets, where you will get the hard truth from many happy owners who very successfully use BG. Its worth a visit.