Wanting to purchase HGVC

[Patrickfeil]

Hello All,
I am really interested in HGVC points and want to purchase resale. Being I have never done this before I have read through several threads. Are there questions or information I should be sure to ask? Also are there brokers / companies I should stay away from as well? Thanks for your help.

 

[GT75]

Welcome to TUG. Please fill out the questionnaire (https://tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/). This will help us give you advise.

I will say that HGVC is a very good program and they especially treat resale owners very good. You will need to figure out how many points to purchases and where. There are two parts to the purchase, initial purchase cost and yearly MFs (maintenance fees). Please consider both.

Good luck

 

[Bill4728]

Be aware you can not purchase HGVC points. You purchase a certain sized unit, during a season, at one of the many HGVC resorts. That week can then generate HGVC points which can be used at all of the different HGVC resorts. Most people find the best deals are at the Orlando or Vegas resorts because their maintenance fees are some of the lowest in the system.

SO you can buy a 2 bd week during platinum season in Vegas which will generate 7000 pts OR a 1 bd unit during gold season in Orlando which would be worth 3500 pts.

Then there are the maintenance fees. Maintenance fees (MF) are base not on the points but the size of the unit. So all 2bd units at a resort will have the same MF even though the platinum season unit will generate twice as many points as the silver season unit. OR the 1 bd platinum unit will have much lower MF than the 2 bd gold unit which both generate the same number of points. So the platinum season units are priced a lot higher the gold season units because of the MFs. BUT the difference in the MFs vs price between the sizes may take a long time to make a difference.

Hope this helps

 

[Sendmeonvacation]

I’m new to timeshares as well and I’m looking at hgvc timeshares too. I was told only to buy a hgvc timeshare that was developed by hgvc not just one that is affiliated and managed by them? Wondering why ? Also, if you trade in your points to rci what is the conversion of say 3500 hgvc points to the rci system ? Thanks

 

[GT75]

Note: I moved this thread to the HGVC forum because it is more appropriate there. I am sure that our regular posters will want to add their thoughts also.

I was told only to buy a hgvc timeshare that was developed by hgvc not just one that is affiliated and managed by them? Wondering why ?

Can you give the context? We have a map of the HGVC resorts (https://tugbbs.com/forums/index.php...t-affiliated-information.254931/#post-1996755). Per this document, there are only 12 affiliated resorts. Most but not all of these resorts (such as the Fiesta Americana and Anantara) are not HGVC. These particular ones are part of another TS system and HGVC has an agreement with that TS system to share some inventory. Of course this agreement can always change in the future.

 

[Talent312]

I was told only to buy a hgvc timeshare that was developed by hgvc not just one that is affiliated and managed by them?

I own both a "true" HGVC resort (Seaworld) and an affiliated resort (Plantation Beach Club at Indian River Plantation). I can tell you that the distinction is virtually meaningless. The points from each are co-mingled in a single account and treated eggsactly alike. I need to cancel my "pre-assigned" week each year at the affiliate to get the points, but at others (Bay Club) that's not necessary.

The purchase price for an affiliate is often significantly lower (I paid -0- PBC) and the fees to join are significantly lower (just a "voluntary activation"). But you do need to be careful that, as GT75 points out, the affiliate offers HGVC membership - and is not just sharing inventory. Elara is a special case: Some TS's there are actually Westgate TS and have no affiliation with HGVC.

Some caution that a resort might drop it's HGVC affiliation - one affiliate terminated HGVC's management a few years ago - but the members there still kept their membership. So I'd say: Don't worry about it.

Also, if you trade in your points to rci what is the conversion of say 3500 hgvc points to the rci system?

There is no trading of points or conversion to RCI points. You book RCI weeks or points resorts with your HGVC points, and your HGVC account is charged based on size + season you book. Generally, a 2BR RCI Red Week is run 4800 points and a 1BR Red Week is 2400 points, but you don't have to book a full week, either.

.

 

[Sendmeonvacation]

wow! thank you so much. I have one more question. We don't own but are thinking of buying at hgvc specifically Elara because we love it there! what I am wondering is: if we buy say a timeshare with odd or even years I called hgvc and they told me we could transfer the points or some of the points to the next year. we are thinking of buying a timeshare worth 7800 points every odd year but we wouldn't use 7800 points so we would want to transfer to the even year and use some. The hgvc representative I talked to told me we could do this. Is this true?

 

[Mosescan]

Yes. You can pay to save points from this year into next year or in a year you don’t have points you can borrow points from the following year for free.

I would buy where you get the best price and lowest maintenance fees unless you want New Year’s Eve or a very specific holiday as generally Vegas has availability all the time.

 

[GT75]

Elara ..... we are thinking of buying a timeshare worth 7800 points every odd

If you are looking at 1 Bd Grand Plus Platinum season at Elara. This has some very good MFs ($0.1132/point). Btw, if you do purchase an EOY, you will still pay club dues every year.

Elara 1 Bedroom Grand Plus Platinum (7800 points) Annual

2018 Operating Fee $724.38
2018 Reserve Fee $126.06
2018 Real Estate Tax $32.99
TOTAL: $883.43

Moderator added: Increase of $3.47 or 0.39%

 

[ConejoRed]

I own three different HGVC's and all are affiliates and I can tell you that, other than saving a lot of $$, I have found no differences yet. The affiliates I have bought do all have very close ties to HGVC and the chance of their rescinding their affiliation is next to zero I think. And even if they did, I understand that that would only affect future purchases and those already in HGVC would stay HGVC (from what I have read). All that I own are platinum, 7,000 point units and the fact that HGVC treats resale owners virtually the same as developer purchases is a big plus. The points flexibility has given me some great vacations. Example: I was able to book three, 2 bedroom Villas (8400 points each) at the Bay Club at Waikoloa for a week in June for a special birthday trip with friends by using a combination leftover 2017 points, 2018 points and borrowing some 2019 points, which should give you an idea of how flexible HGVC is (and I still have a number of 2019 points left that I can borrow from if want to go somewhere else this year).

 

[Sendmeonvacation]

Thanks for all the info !

 

[Sendmeonvacation]

Ok so are you saying on a eoy timeshare you pay the maintenance fees every year still or just club dues on off years ?

 

[GT75]

You will pay Club dues every year. MFs will be collected EOY (at least that is how most HGVC do EOY).

 

[Patrickfeil]

Be aware you can not purchase HGVC points. You purchase a certain sized unit, during a season, at one of the many HGVC resorts. That week can then generate HGVC points which can be used at all of the different HGVC resorts. Most people find the best deals are at the Orlando or Vegas resorts because their maintenance fees are some of the lowest in the system.

SO you can buy a 2 bd week during platinum season in Vegas which will generate 7000 pts OR a 1 bd unit during gold season in Orlando which would be worth 3500 pts.

Then there are the maintenance fees. Maintenance fees (MF) are base not on the points but the size of the unit. So all 2bd units at a resort will have the same MF even though the platinum season unit will generate twice as many points as the silver season unit. OR the 1 bd platinum unit will have much lower MF than the 2 bd gold unit which both generate the same number of points. So the platinum season units are priced a lot higher the gold season units because of the MFs. BUT the difference in the MFs vs price between the sizes may take a long time to make a difference.

Hope this helps

Thanks this was very helpful!!!

 

[Hsahota1]

If you are looking at 1 Bd Grand Plus Platinum season at Elara. This has some very good MFs ($0.1132/point). Btw, if you do purchase an EOY, you will still pay club dues every year.

I am guessing the above would be over the $1 a point?

 

[GT75]

I am guessing the above would be over the $1 a point?

The person never stated the asking price but I wouldn't expect that. I would expect EOY to be a little higher than 1/2 of annual. I see that a 1 Br Grand Plus annual passed ROFR recently with a price of $8,500.

 

[Anthony Schmid]

I am currently closing on on one of those platinum 1 bedroom grand plus at the Elara, every year. I and waiting on Hilton ROFR right now. I had to up my offer to $12k the broker said to make it better to avoid ROFR. The broker said Hilton is offering $10 and $11,750 to buy back these units. The 7,000 points are just passing ROFR for $10K these days. Judi Kozlowski was the broker I spoke to.

 

[CalGalTraveler]

FWIW $12k sounds steep for Vegas. I have seen is a slight premium of $9 - 10k for the higher point units in Vegas because people know that they are valuable and there is not a lot of inventory out there right now. ROFR changes all the time. If you have time, low ball your offers because you have nothing to lose except time. If something hits, great. If not, there will be more inventory and less ROFR budget as we reach the end of the year.

Although I cannot speak to your situation, in general brokers have a vested interest in maximizing the price of the property because if ROFR passes it saves them time and hassle, plus they earn more commission. They represent the seller.

 

[alwysonvac]

I agree, ROFR changes all the time. Make the offer you’re comfortable with because you have nothing to lose except time. If something hits, great. If not, try again.

NOTE: On rofr.net, there’s an Annual 1BR Grand Plus in Platinum Season that passed at $8,500 in November 2017.

 

[CalGalTraveler]

FWIW...I took a quick look at Redweek.com. There are several 7000 point annual units at Blvd, Paradise and Flamingo properties ranging from $4,500 to $9,999. You should also check TUG listings.

Is it really worth $2,000 - $7500 to have 800 more points a year? Since points are points and you can still trade into Elara, you should calculate the following:

asking price + (Maint fee * 10) (or whatever your horizon is) and then compare the properties. BTW...Flamingo has no ROFR.

 

[dayooper]

FWIW...I took a quick look at Redweek.com. There are several 7000 point annual units at Blvd, Paradise and Flamingo properties ranging from $4,500 to $9,999. You should also check TUG listings.

Is it really worth $2,000 - $7500 to have 800 more points a year? Since points are points and you can still trade into Elara, you should calculate the following:

asking price + (Maint fee * 10) (or whatever your horizon is) and then compare the properties. BTW...Flamingo has no ROFR.

Hmmmmm . . . Interesting calculation. I like it! I’m assuming the horizon is as long as you are thinking you will use it, correct?

I knew about no ROFR on the Flamingo. Are there any other resorts that don’t have any ROFR?

 

[Sapper]

Hmmmmm . . . Interesting calculation. I like it! I’m assuming the horizon is as long as you are thinking you will use it, correct?

I knew about no ROFR on the Flamingo. Are there any other resorts that don’t have any ROFR?

We signed on Valdoro last week (or the week before? Been busy). Anyway, on the estoppel it said "This property not subject to ROFR." Because we have not actually passed a possible ROFR, and have the thing in our names yet, I cannot 100% say it's no ROFR, but that statement makes me think it is.

 

[GT75]

Are there any other resorts that don’t have any ROFR?

This tread may help answer. (https://tugbbs.com/forums/index.php?threads/hgvc-resorts-that-do-not-have-rofr.265920/)