Adding on at Vero

[realpatt]

We are considering adding on 100 points at Vero - but once I got the info on maintenance fees $642.00 per year - I can't see where it would really be worth it. We have been members since 2000 and the price to rent points has stayed about $10.00 since that time - so we'd save 358.00 a year by purchasing rather than renting points (not counting the original layout.) Am I missing something here? So far we have always been able to get into Vero at the 7 month window or through the waiting list. We really love it and have concerns that as DVC grows it will become harder to get in.

Would appreciate any feedback.

 

[Cap]

Well, 100 points at Vero, if you buy resale, will likely cost you at least $50 / point, plus closing costs of about $400. That's $5,400. If you can invest that $5,400 at 5% interest, you'd get $270 / year.

Dues $642 + Forgone Interest of $270 = $912

Rental of 100 points @ $10 / point = $1,000

Financial savings = $88 / year.

However, I would also consider:

Can you get the rental you want at $10 / point?

What is the increased "cost" to you in terms of your time to deal on a rental versus just making the reservation during the 11 - 7 month window with Member Services?

What if you have to cancel or reschedule? It's much easier if you own the points than if you have to deal with a rental.

Would you really be able to get 5% interest / year in today's environment?

Do you have the $5,400 to pay up front? If you would be doing a loan, then the interest rate on a loan has to be considerd.

Will dues at Vero increase at a greater $ amount / year / point than rental costs / point.

There are lots of things to consider.

 

[littlestar]

Well, 100 points at Vero, if you buy resale, will likely cost you at least $50 / point, plus closing costs of about $400. That's $5,400. If you can invest that $5,400 at 5% interest, you'd get $270 / year.

Dues $642 + Forgone Interest of $270 = $912

Rental of 100 points @ $10 / point = $1,000

Financial savings = $88 / year.

However, I would also consider:

Can you get the rental you want at $10 / point?

What is the increased "cost" to you in terms of your time to deal on a rental versus just making the reservation during the 11 - 7 month window with Member Services?

What if you have to cancel or reschedule? It's much easier if you own the points than if you have to deal with a rental.

Would you really be able to get 5% interest / year in today's environment?

Do you have the $5,400 to pay up front? If you would be doing a loan, then the interest rate on a loan has to be considerd.

Will dues at Vero increase at a greater $ amount / year / point than rental costs / point.

There are lots of things to consider.

Nice breakdown of the costs. I'm printing your post to keep -

 

[senecabeach]

IMHO.....

VB & HH are in "Hurricane Alley" and as I wouldn't have a residence in it...I wouldn't want a timeshare there either.

Ergo...the mtc fees...and they're up because VB closed for a few months after a small hurricane hit a few yers. ago. Keep renting !!