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my travel website: Vacation-Times.org.
"A vacation is what you take when you can no longer take what you’ve been taking."
~Earl Wilson -
I never can figure out which I hate most, ever increasing MF's or an HOA/BOD that didn't have the forsight to put enough money aside in cash reserves to avoid a large special assessment. $614 in addition to their MF's, which can't be all that cheap since it's a Hawaiian timeshare, isn't going to sit well with owners at this resort. Especially in this economic climate.
All I can say is I'm glad I'm not an owner at this resort. I don't like large MF's but, I do want adaquate amounts of funding going into the cash reserve. I'd prefer to sacrafice other amenities or services if it means being able to fund the cash reserve with enough funds to avoid a large special assessment.
Looking at the pictures of the model against what they have now, it will be a big improvement in design. But I still believe that refurbishment costs MUST be considered when calculating reserve funding. Over time, I don't think there is any design that's not going to become dated and need refurbishment rather than just a touch up here and there. Eventually all buildings need to be remodled or they become dated and their value drops. This can't be any different with timeshares and a good HOA/BOD should be taking this into consideration when reserve funding is calculated.Our timeshare and other photo's at http://dougp26364.smugmug.com/ -
I agree, but I doubt it will ever change.. Lower fees always mean more initial sales for developers- so limiting reserve funding and delaying preventive maintenance are the easy way to keep the appearance of low fees.
Then as the ownership level progresses away from the developer, owners themselves put pressure on the board to try to keep fees consistent with past levels- which again has a tendency to result in underfunding for maintainence and reserves..
I once proposed to a local TOA a contract with a furniture repair company to maintain both the furniture and cabinetry on a weekly schedule. Two techs would be onsite one day a week to perform repairs and touch ups on any vacant villas. The cost was only $240. per year per villa ($4.80 per interval) and it was expected to increase the effective life of the furnishings by 3 or 4 years- as well as increase the consistent appearance of each villa.
The proposal didn't even earn more than a passing glance! The benefits were too long term to have any real appeal to the board.
For Bay Club, it's actually probably a good stategy on timing. Since so many Hawaiian properties are expecting special assessments next year- it'll be easy to "blend in" with the industry.......my travel website: Vacation-Times.org.
"A vacation is what you take when you can no longer take what you’ve been taking."
~Earl WilsonComment
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I was looking into buying at this resort because it seems the resale market is softer at this resort. Do you think it is a bad idea to own here?Comment
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The resale market is soft everywhere. I wouldn't use that as a metric for where to purchase.Originally posted by fikeies View PostTrying to tax a nation into prosperity is like standing in a bucket and trying to lift yourself by the handles.
- Winston ChurchillComment
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I realize the timeshare market is soft everywhere, but I have seen ts at this resort sell for a bit cheaper than other Hilton resorts in Hawaii. I read somewhere that the Bay Club is an affiliate resort and not Gold Crown status. Im just wondering if anyone know if the annual points at the Bay Club hold any less value when trading within the Hilton System. I am currently a Hilton owner and looking for a source for some extra points. Thanks...Comment
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First off, Gold Crown status means absolutely nothing when you are buying a HGVC property. Think about it -- you get the exact same number of points no matter the RCI rating, right? You don't use your week to exchange in RCI -- you use your points. And points are points in HGVC.Originally posted by fikeies View Post
Second, all resales are going down, and have been going down fast. If you are looking for extra HGVC points, why not buy the cheapest possible? Don't get lulled into the "it's an investment" mentality that the sales-slime always tout. Buying a timeshare is an expense. If you happen to be able to sell it for some $$ after you are done with it, that is a bonus.
If the price is good, go for it. JMHO.
KurtComment
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Two really good items to consider before buying.
Every year increasing maintenance fees !
Knowing they can play the " SA " card anytime for extra money and owners can do nothing about it !
Look for new fees to come !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Comment
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I stayed at the Bay Club several years ago and loved the property and location. So much so that we ended up purchasing the new HGVC property which was being built next door. I've learned over the years about the TS resale market, and have since purchased another HGVC property and recently a Marriott property. I would ignor the Gold Crown designation when it comes to HGVC properties as it has nothing to do with trading power. Trading with RCI is really nothing more than moving your points to RCI and using their reservation system. Your MFs will be based on the property you purchase, but the points can be used throughout the HGVC system. The only benefit to owning the Bay Club vs another HGVC property is the ability to reserve as early as 12 months out at the Bay Club vs 9 months. Your home property allows early reservation. So if you are looking for 5,000 points with HGVC and don't wish to go to Hawaii on an annual basis, you might want to also consider other locations which might have lower MFs. Just something to think about.Comment
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