Tweet
I have 13000 annual points. I have heard that if I have more points, then my membership fees would be lower per point. Is that true? If it is, would this only be possible only if I buy through Bluegreen. What if I buy extra points from someone I know? I don't really need extra points, but if it would save me membership fees it may be worth it (when you figure many years of fees).
-
-
Yes, if all of your points are in Trust Fund E, your maintenance fees will be lower on a per point basis the more points you have above about 13,000 points. (Of course your total fees will go up.) You do not need to purchase from BG for this to happen. I should point out that in the interest of fairness, the Trustee has been diddling with the formulas for calculating fees to make the fees in the various Trusts as close as possible. There are some Trust Funds where diddling is not permitted in that it's just a straight pass thru from the resort. Only you can know if it would be worth it.Originally posted by dckit View Post
Charles -
lowering point
How do I find out if my points are in Trust Fund E. I have looked through my original paperwork, but can't find anything yet.Comment
-
This is difficult. If you have the maintenance bill from last year you can calculate it for all 5 trust funds to see which one fits. If you call BG, they probably can't help you since they never work with Trust Funds, the Trustee does. Another way is to determine when that unit/week was originally purchased from BG. Trust Fund E started in late 2002 or early 2003 I believe.Originally posted by dckit
CharlesComment
-
When did you purchase your points? And, what were you billed last year?Originally posted by dckit View PostComment
-
Points were bought 10-2006. Paid $931.30 fees and dues 11/08.. This included 129.00 dues and 10.00 voluntary ARDA. My statement said:
13K points X .03030 + $310.00
13K points X .00680
What does all of this mean? Any suggestions about lowering fees, even if I need to get more points?Comment
-
I am not an expert on this, but:
It looks like you have two accounts. ARDA is normally $5 per account, that is why I believe you have the two accounts.
The ARDA is one I would not pay. That saves you $10, not much, but it is a savings.
The $310 is a base fee. I believe everyone pays that amount.
The .0068 per point is the amount that would be different depending on which account you have.
I do not know which fees are for which accounts, but BocaBum Jim is very experienced in this. He or others will have an answer on which trust you have.DonComment
-
two unit/weeks
By two accounts I think he means two unit/weeks which could come from one purchase or two purchases.Originally posted by vintner
A one purchase example: Let's say resort X does not have any unit/week that is valued at 13,000 points. But the purchaser wants 13,000 points. So the sale is made for two weeks, one worth 6,000 points and one worth 7,000 points. Using this technique, BG can find in their inventory just about any number of points that any purchaser wants.
CharlesComment
-
Your polite persistence motivates me to dig further for you. I went to the Yahoo group messages and pulled up an email I sent out in late winter which has the information. It has more than you asked for but it might answer others questions.Originally posted by dckit
Quote:
"This is what I have for Trust Funds B, D, and E. I understand that Trust Funds A and C are a pass through as determined by what the Home Owners Association at each individual resort decides. As such, 9,000 points for resort X in Trust Fund A might be different than 9,000 points for resort Y in Trust Fund A. It is possible that one of them is a straight pass through and the other has a percent added on.
"Trust Fund B:
- 2008/2009: $170 + $.058/point
- 2007/2008: $170 + $.051/point
Trust Fund D:
- 2008/2009: $.064/point
- 2007/2008: $.058/point
Trust Fund E:
- 2008/2009: $310 + $.0371/point
- 2007/2008: $290 + $.0335/point"
:End Quote
Now if you add together your 0.03030 and 0.00680 you get 0.0371 which is $0.0371 per point. As Don pointed out, $310 is the base fee which you pay if you have 3,000 points or 300,000 points. The $0.03030 per point is your basic maintenance fee (cleaning, painting, water, heat, insurance, pool, flower beds, etc., etc.) and the $0.00680 per point is your Real Estate Taxes. (By making RE Taxes a line item, you can, so I have been told, deduct them on your Income Taxes (Proviso: consult your tax consultant for such legal advice).
Conclusion, you are in Trust Fund E since your numbers match Trust Fund E's formula. (As an exercise, you might try your number of points for the other Trust Funds. You might also want to calculate the cost per point for 20,000 points or whatever your goal might be. Just remember that the $129.00 dues and $310 base fee is paid only once. The only thing that varies cost for the number of points you have.) Caution: if you pick up a resale bargain that is in Trust B, you will then pay TWO base fees each and every year. 99+% of the owners and Real Estate Agents do not understand this and won't be able to tell you which Trust Fund a unit/week is in. Jim (BocaBum) will always look at that for his customers. (He understands it better than most BG employees. The Trustee also understands it.)
CharlesComment
-
So if I did my math correctly....
35,000points equals $1608.50 per year maint. Or .046 per point
5,000 points equals $495.50 per year maint. Or .099 per point
Basically pay twice as much per point for 5k then 35k.... But its 3X more per year in maint fees to own
Your not gonna save $ just get a better $/point ratio....
SeanComment
-
-
You have trust fund E points.Originally posted by dckit
When making a purchase of a resale package, just make sure you buy points of this type. Then, you will only be assessed the variable part of the maintenance fees. For 2009, the was $371 per 10000 points. That's really cheap for incremental points.Comment
-
One trust does not fit all
Jim's advice is for the person with 13,000 points who wants to buy more points eventually. Then Trust Fund E is what he wants. However, if your goal is to acquire only 9,000 points so that you get a 2 bedroom Christmas Mountain in the summer or an older beach resort in red time, and 9000 points is all you will ever want, then Trust Fund E is a more expensive way to go. And that will have to be a resale purchase. You have the 2009 equations. You can calculate what is best for what your eventual goal is.Originally posted by BocaBum99
A word of caution. Once one has used 9000 points for a year or two, most of us will want more. I should also point out that the Trustee is trying to make the various Trusts as equal as possible so the equations might be different next year.
To further complicate things, I do not know which Trust Funds have a straight pass through of Special Assessments. Trust Fund E smooths them out.
CharlesComment
-
Thank you for all of your help. This is my first time to ask questions on Bluegreen timeshare forum. I can see it is going to be a really big help.
Next question-we are going to Kauai Coast Resort at the the Beachboy (Kauai, Hawaii) in October. We are doing this through Shell Vacation Clubs and Bluegreen. Any suggestions or tips on that resort or good activities to try in Kauai? Thanks again fellow Bluegreen owners.Comment
-
Wow! That is fantastic to hear. The Beachboy is a really nice resort and it's walking distance to Pono Kai. Congrats on a great booking.Originally posted by dckit
There are so many things to do. What I would recommend is buying a Kauai Revealed book at costco or a local book store. It will give you the best information on what to do in Kauai.Comment
Comment