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Would like to upgrade from 5,000 points to 7,000

hgvcowner9

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Hello timeshare experts,

I would like your expert advice on what would be the best way to achieve my goal. =)
I purchased HGVC 5,000 back in 2009 paying $19,990 – list price directly from HGVC. Oh well, I was one of those naïve newbies to the market. I only wish I knew all of you guys at that moment.

Anyways, for past few years, I have used my points really well(at least I feel like it) – with family and friends, 3 trips to Hawaii, 2 trips to South Beach, 1 trip to Myrtle Beach, 1 trip to Canmore(near Banff) and 1 trip to Quebec. I think I planned pretty good for little points I get every year. Most of time we stayed at 2 br; some units were better than the others yet overall, all the units were clean and had everything we needed for vacation so we are very satisfied.

As family grew and looking for more quality family time in the future, I would like to increase my points to 7,000 within next year or so. Time to time I get a call from HGVC pitching me upgrade and to add 2,000 more points they are asking 12k or more. I understand that they added more inventory and price went up, yet 12K for 2,000 more points sounds a lot to me – and it is a lot of money.

Since I have been self-educating with your valuable, professional, well-experienced advice, I would like to ask you for help. What would be my best option? Can I resell mine and buy it again from reseller for 7,000 points at lower price? Or to resell mine and go through reseller to buy 7,000 would cost me 12k plus time and headache anyways so just go to HGVC and pay 12K or more to add 2,000 more points? Or any other options I get to have out there?

Any of your help is greatly appreciated!

Previously naïve and getting smarter through TUG
 

frank808

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Location
Marriott Ko Olina Beach Club
Resorts Owned
Disney Vacation Club (Aulani,SSR,VGC,VGF) Hilton Grand Vacation Club(Bay Club, Kohala Suites, The District) Marriott Vacation Club (Aruba Surf Club, Grand Residence, Grand Chateau, Grand Vista,Harbour Lake, KoOlina,Willow Ridge & DC points)
You can probably add a 2br platinum week at one of the hgvc resorts in las vegas for about $7000 resale. The problem with this is you would have 2 maintenance fees until you sell your 5000 pts unit. Unless you need 12000 pts?
Upgrading through hgvc would cost you about $5k more but they are taking back your older contract. That way you only have one maintenance fee. I think going thru hgvc instead of buying a resale is going to cost you $5k more. The resale on your 5000 pt contract is going to maybe get you $1000.
 

1Kflyerguy

TUG Review Crew: Veteran
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HGVC Kings Land, Elara, and Marriott Destination Club Points
Hello,

Glad your enjoying your ownership, sounds like your getting good use out of it.

You have three options to accomplish this:

1) "Upgrade" direct with HGVC, they will take back your original deed and trade you up to larger point package. This is probably the fastest and easiest, but also the most expensive.. as you mention 12K for 2000 more points is pretty steep. I think your could do better than 12K for upgrade and could probably get some bonus points tossed it, but this route will still be expensive.

2) Buy a resale deed with more points and then sell your old 5K deed. This probably the cheapest route but it may take a while to sell your old deed. You will also have accept how little it is worth on the open market... You can only sell your week if its paid in full.

3) Keep your existing 5K deed and then buy an additional unit on the resale market. This works, and may be the least cash outlay, but you will have two maintenance fees every year, which can add up over time.
 

frank808

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Resorts Owned
Disney Vacation Club (Aulani,SSR,VGC,VGF) Hilton Grand Vacation Club(Bay Club, Kohala Suites, The District) Marriott Vacation Club (Aruba Surf Club, Grand Residence, Grand Chateau, Grand Vista,Harbour Lake, KoOlina,Willow Ridge & DC points)
Great minds think alike. You are better organized than me 1kflyer.
 

1Kflyerguy

TUG Review Crew: Veteran
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HGVC Kings Land, Elara, and Marriott Destination Club Points
Great minds think alike. You are better organized than me 1kflyer.

Thanks, on the other hand your faster on the keyboard... :clap:
 

vincepecoraro

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Dayton, OH
I understand that they added more inventory and price went up, yet 12K for 2,000 more points sounds a lot to me – and it is a lot of money.

Any sales person that tells you that they have more inventory and thus the prices has gone up doesn't understand basic economics. As inventories rise, prices should fall. It comes down to scarcity and the fundamental principles of supply and demand.

Hilton has added sites, which opens up more possibilities for owners, but it has also dramatically increased its inventory of units. The new locations may increase demand for Hilton timeshares, but not necessarily the demand to buy them from the developer.

I have never purchased direct from the developer, but i also found the prices to drop whenever I confronted them with this line of thinking. They always seem to find a foreclosure that is rock bottom in price.

Try going back through Hilton. If that doesn't work, buy a low MF unit off of eBay and enjoy the extra points.
 

JIMinNC

TUG Review Crew: Expert
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Marvin, NC (Charlotte) & Hilton Head Island, SC
Resorts Owned
Marriott:
Maui Ocean Club
Waiohai Beach Club
Barony Beach Club
Abound ClubPoints
HGVC:
HGVC at Sea World
Try going back through Hilton. If that doesn't work, buy a low MF unit off of eBay and enjoy the extra points.

I would recommend that the OP exercise extreme caution with buying off eBay. While there are certainly deals to be had for someone with experience dealing with eBay sellers, there are also many dishonest or untrustworthy eBay sellers. I personally feel eBay is more of a "buyer beware" situation than dealing with a developer. A developer will charge sky-high prices and spin the facts to their advantage, but at least with Hilton, Marriott, Starwood, etc., they are not frauds and crooks. The same can't be said for some eBay sellers. While there are many honest eBay sellers, you have to be very careful and selective.

For a first time resale buyer, I would suggest dealing with a reputable resale agent/broker to help navigate the waters. The price may not be as cheap as some of the dirt cheap eBay deals, but you have greater security that you will get what you think you are getting, and it's still way cheaper than the developer.
 
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Talent312

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HGVC & GTS

JSparling

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Hello,

Glad your enjoying your ownership, sounds like your getting good use out of it.

You have three options to accomplish this:

1) "Upgrade" direct with HGVC, they will take back your original deed and trade you up to larger point package. This is probably the fastest and easiest, but also the most expensive.. as you mention 12K for 2000 more points is pretty steep. I think your could do better than 12K for upgrade and could probably get some bonus points tossed it, but this route will still be expensive.

2) Buy a resale deed with more points and then sell your old 5K deed. This probably the cheapest route but it may take a while to sell your old deed. You will also have accept how little it is worth on the open market... You can only sell your week if its paid in full.

3) Keep your existing 5K deed and then buy an additional unit on the resale market. This works, and may be the least cash outlay, but you will have two maintenance fees every year, which can add up over time.

I agree that these 3 options are all possible, but I don't see why you'd do #1 instead of #2. Let's say you just gave away your 5,000 unit and paid closing fees. That would cost you $1,000. Then add a 7,000 point unit for $6,000. Now you're out $7,000, have 1 MF, and did all this instead of paying Hilton $12,000 to "upgrade"

Now of course you can get something for your 5,000 unit. I agree with what someone said which was around $1,000. So you can probably dump your unit, buy a new one, and end up with 1 MF, 7,000 points, and paying around $6,000 net.

I think you should team up with a realtor mentioned by Talent312 or Diane Nadeau. I've worked with all 3 and all are good and honest and have TONS of HGVC inventory to sell. Then work a deal to buy one of the units they have listed for 7,000 points (don't pay over $6,000 for it!) at one of the two lowest MF Las Vegas properties and also have them list/sell your 5,000 point unit. Perhaps you can get a break on the commission if you do both ends of the deal with them.
 

vincepecoraro

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Perhaps you can get a break on the commission if you do both ends of the deal with them.

This is a really good idea. Agents can be much more flexible when they are getting both ends of a transaction. Negotiate it up front so everyone understands expectations. The worst that can happen is that they say no.
 

1Kflyerguy

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HGVC Kings Land, Elara, and Marriott Destination Club Points
I agree that these 3 options are all possible, but I don't see why you'd do #1 instead of #2.

I think main reasons for choosing option 1 over 2 would be:

1) You have a loan with Hilton on the original purchase. I know many here don't believe in buying a timeshare on credit, and understand that. But some people do it all the time.

2) You don't wont to put in the time or effort for one of the other options. Hilton makes the trade up very fast and easy...

I am not recommending that option, but its available.
 

hgvcowner9

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Sep 22, 2015
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All the great ideas

Ah, you guys are really professionals with lots of experience!!
As for option 1, I think it is still viable if I don't want to go through headaches of dealing with selling and buying. During past few months recently, I bought a house, I sold a house and I still have one more to sell and boy, it is painful!! So yeah, if I would have 12k just to throw away, I would go with option 1 probably to minimize pain and get 15,000 bonus points. Thank god I do not have a loan on the original purchase so that is good part though.
I will look around, do my homework and exercise one of your options. I know the key is patience when saving money - I think I will end up talking to one of those recommended agent to do sell and buy deal.

Thank you again!!
 
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