I don't think I have wasted any money. Here is how I rationalize what I paid:
15,000 Starting Cost
+ 895 MF
-------
15,895
- 3,504 1 Bedroom Rack Rate equivalent for 1 week at SSR (Our Home.) If I stay somewhere else, then I get the equivalent rack rate.
-------
12,391 End of First year total.
+ 895 MF
-------
13,286
- 3,504 1 Bedroom Rack Rate equivalent for 1 week at SSR (Our Home.)
-------
9,782 End of second year total.
+ 895 MF
-------
10,677
-1,200 Rental year at $10/point renting 120 points.
-------
=9,477
What I am not taking into account is whether you financed it our not. We did not finance it. As a result we do not need to add interest into this equation. If you did finance it, then you would add interest paid for each year into it. The end result will be at some point you are making out on the deal. I aslo added a year of renting points. This demonstrates that you get the most value out of using your points.
15,000 Starting Cost
+ 895 MF
-------
15,895
- 3,504 1 Bedroom Rack Rate equivalent for 1 week at SSR (Our Home.) If I stay somewhere else, then I get the equivalent rack rate.
-------
12,391 End of First year total.
+ 895 MF
-------
13,286
- 3,504 1 Bedroom Rack Rate equivalent for 1 week at SSR (Our Home.)
-------
9,782 End of second year total.
+ 895 MF
-------
10,677
-1,200 Rental year at $10/point renting 120 points.
-------
=9,477
What I am not taking into account is whether you financed it our not. We did not finance it. As a result we do not need to add interest into this equation. If you did finance it, then you would add interest paid for each year into it. The end result will be at some point you are making out on the deal. I aslo added a year of renting points. This demonstrates that you get the most value out of using your points.