We are staying in our first timeshare for the first time. It is a triannual that we purchased with a Charter Package. We have used the charter packge for 2 hot weeks already (great deals). We purchased a 3/2 for 10K. Stormy Point is now in their 4th phase of construction with 4 bedroom units. When we went to the owner's update, they are offering an annual 4 bedroom with a "concierge" package. The MF's would be 10 more and would be every other year vs. every third year we are paying now. They say there is a waiting list for the 4 bedrooms and they have to offer the current owners the upgrade before they can sell to non-owners.
We are now in a positions where we would like to take one or two vacations a year and not have to wait 3 years and rely on just the hot weeks. With the 4BR, we could split it and get 2- 2BR weeks. This option would also allow 3 and 4 night stays. They also said that since we bought before the big amenities were built, they can't charge us for those, but, it allows them to give us an "equity' position that is about 2 1/2 times what we paid.
This scenario seems to fit everything we want. The 3 bedroom sleeps 8. The 4 bedroom doubles the size of the first floor and sleeps 16 (2 kings, 1 queen, 2 twins and 4 sofas) I was only able to find one 4 bedroom on sale for $20K (about 4K less than what they are asking from us). From what little I've read so far, resales are the way to go. But, in this case, I don't see many/any for sale. I'm not sure I would get all the benefits the company is offering. And, since they are newer construction, how long would it be before we could find a good resale?
I am very new to TS's, but, everything that I see makes me think this is something we shouldn't pass up. What do you all (the experts) think?
He does want us to sign a paper tomorrow either taking it, or not. He is a salaried worker and didn't seem bothered by us not taking it. It appears that many others are. If we have a right of refusal being owners, how long can we extend our decision?
Sorry this is so long, I wanted to make sure I included some of the pertinent details. So glad I found this site.
Thanks!
Deb
We are now in a positions where we would like to take one or two vacations a year and not have to wait 3 years and rely on just the hot weeks. With the 4BR, we could split it and get 2- 2BR weeks. This option would also allow 3 and 4 night stays. They also said that since we bought before the big amenities were built, they can't charge us for those, but, it allows them to give us an "equity' position that is about 2 1/2 times what we paid.
This scenario seems to fit everything we want. The 3 bedroom sleeps 8. The 4 bedroom doubles the size of the first floor and sleeps 16 (2 kings, 1 queen, 2 twins and 4 sofas) I was only able to find one 4 bedroom on sale for $20K (about 4K less than what they are asking from us). From what little I've read so far, resales are the way to go. But, in this case, I don't see many/any for sale. I'm not sure I would get all the benefits the company is offering. And, since they are newer construction, how long would it be before we could find a good resale?
I am very new to TS's, but, everything that I see makes me think this is something we shouldn't pass up. What do you all (the experts) think?
He does want us to sign a paper tomorrow either taking it, or not. He is a salaried worker and didn't seem bothered by us not taking it. It appears that many others are. If we have a right of refusal being owners, how long can we extend our decision?
Sorry this is so long, I wanted to make sure I included some of the pertinent details. So glad I found this site.
Thanks!
Deb
Need quick advice on upgrade.
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