I have attended the sales presentations. the yearly fee in everything I saw was excessive. Why invest 15-40K in a time share and pay 1K to 2 K per year for a week or so. I can get the same rented as a hotel for the same or less as the yearly fee and invest the 40K. Look on Ebay for time share resales at 10%-50% of sales pricing, but still the huge yearly fee.
I feel the same way. I love Maui and have been a few times. I always passed when the person at the kiosk in front of Whaler's Village tries to get you to go to a presentation. I did recently become more interested in simply how it works and what the costs were just for my own knowledge. I poked around online and found that not only is it expensive to purchase but that the fees are high as you mentioned. I can't imagine spending 2K a year for fees. The problem with Hawaii is that even if you had a timeshare, between a yearly fee of 2K and plane tickets from the East Coast where I live often in the $1000 range, to have a couple go there is 4K just for fees and plane tix. A timeshare is just something I will never invest in but that is because of my situation and it may be perfect for others. I would advise those looking into timeshares to check the resale market. You can save a lot of $$$ by buying on the resale market. Yes, the fees are always going to be there but if you save $5-10K on the property, that could be your fees for several years.
Please remember that lots of those sold on eBay and other sites are red weeks. Check your limitations etc. I would not buy a red week personally. It works for some. I am Platinum and I have lock offs as well as destination points. I do not want to go to the Caribbean in the middle of summer. I would prefer going in the winter since I live in a cold climate. Just make sure you are comparing apples to apples. This is not to say that a red week would not work for others.
I suggest you visit the Timeshare User Group forum (TUG). There is a Marriott members section and you will find helpful information regarding the pluses and minuses of Marriott timeshare ownership. There are also other option rather than to purchase Marriott timeshare weeks and Destination Club points via resale market rather than directly from Marriott (as well as rentals) . I currently own multiple weeks under the old system, as well as DC points and am happy with my experiences. However, I don't think I would buy at today's prices. Good luck with your decision.
Appreciate your question, as we did also initially, but after investigating we purchased MVC points in 2012, and mostly use these at East Coast facilities, such as Hilton Head, SC (above photo). I too generate Marriott Reward points, but even with these, we have benefitted from the MVC Destination program, and would recommend this over
the earlier, companion time share, where you have to return each time. MVC points prices have escalated nearly 30% since we bought them, and we can either leave these to our children, or sell them back to Marriott for a profit at later date.
It likely depends on how many people will be traveling with you. You can quite easily find a week in hotel for equal to or less than the annual maintenance fees, but if you have family/friends who would be using the extra bedrooms of a vacation villa, then it might be worthwhile. Just don't think of it as an investment, because it's not (or if it is it's a lousy one). What it did for me was make me take time off each year because I'd already paid for it, and I get some good deals on more weeks (getaways) through Interval International.
I Agree. But, at least I can deduct from taxes which I cam t all the vacations I take. I have no clue why I like it so much. I do love earning points on cruises and vacations which really add up so if you factor everything in how bad a deal is it? I am gold so I do earn a great deal of points. Right now I have close to 700,000 to use. They are just a bonus.
We own at Surf Club and Phuket Beach Club. Agree about MF's. However, you are eligible for nights credit at home resort and exchanges to other MVCI properties. You have to have Marriott attach your MR number to the II reservation number. We do it all of the time-as do many other MVCI members.
We own two weeks and like them very much. MF"s have grown a lot. We would not buy again from the developer. The Destination Club Points are not a good system/deal IMHO. We do love the weeks plan. I would buy on the resale market. MUCH better pricing. You do give up a few benefits.
Plenty of good advice here:
Hello-We own at the Aruba Surf Club; we did not buy as an investment; we bought in 2008; if I knew then what I know now I am not sure we would have purchased; the maintenance goes up each year (currently for a 2 bedroom platinum MF are almost $1700-; the TS forces us to take a vacation (we lockoff so we are there for two weeks); we did not buy into the Destination Points program (I truly believe this is only worth it to those that own at least two timeshares and bought when the program started several yrs ago)
You are also to purchase on the secondary market at a fraction of what MVCI charges; check Redweek, TUG, eBay, etc.
Good luck in your quest
We enjoy our timeshare vacations and consider the annual MF fees to be reasonable when compared to what it would cost to stay at a resort in a similar locations. For $1000-1500 per year, we get 7 nights in a 2BR condo with full kitchen, laundry, free parking, and no resort fees. Try staying in a regular hotel room at any Marriott resort for that amount. We also prefer having several timeshare weeks to owning a vacation home/ condo. I don't think that MF fees have gone up as much as hotel rates or MR point costs. However, I think the initial purchase price is exhorbitant and I would not purchase DC points or weeks directly from developer today. You will never be able to sell the DC points or week ownership for a profit unless you purchased them resale at a very low price. MVC also makes it very difficult to sell DC points because they charge extremely high transfer fees.
We are strongly considering buying in to MVC. We've done 2 of "offers" to go and stay and do the sales presentation and after this last time purchased an encore package. We're very tempted to purchase when we go back b/c there are so many places you can use it and in comparison to other Vacation Clubs its not a bad deal. We bought into DVC years ago and while I love it, I feel that Disney is out-pricing themselves for new buyers.
Timeshares are not for everyone. It isn't the best financial investment - since the value depreciates as soon as you purchase and the typical break even (Initial investment + yearly maintenance) vs simply reserving a week every year is about 15-20 years... That being said - I started with a week in Aruba in 2007 and have slowly added points to my portfolio for the last 8 years and I am now a Platinum Elite/ Chairman's club member - so I do find value in the program.
Part of the benefit of of timeshare is it really gives you an incentive to plan and take vacations - which I had always struggled with in the past. Another benefit is Marriott continues to add new properties (Big Island soon) and other options to use points on like guided tours, sporting events, cruises and adventure travel. Though I don't have the availability to 16 day tour of Europe now - I will when I retire. So I am basically paying for much of my retirement travel now - while I have the income to support it. Finally you are creating a legacy of travel for your family and friends. There is nothing like getting a 3 room villa in Kauai and being able to invite your family or friends on a week vacation or sending your parents on an anniversary trip to Hilton Head. There is a lot of possibilities once you get used to the program.
Again - Timeshare is not for everyone but it does have its place. Just remember the break even is 10-15 years -so it does take a commitment to get value from the program. If you can justify that value and have the income to support it - I do think it is a worthwhile investment for the long term...
I agree that one benefit is my timeshare ownership 'forces' me to take my vacations, and the planning is part of the fun. I work in corporate America and my only true free time is on vacation. I probably would skip vacation when I'm busy if I hadn't already paid for it, but I have never regretted taking it (and usually really need the time away from work). I also like the fact that my lodging expenses are basically prepaid, so the total vacation cost for other items is easier to manage when the credit card bills arrive. The food cost savings for a family of four are dramatic because of full kitchens in the timeshare villas. We primarily only eat dinner out, and now frequently order carryout to enjoy with a glass of good wine (at 20% of restaurant cost) on our villa balcony.
My advice, do not purchase the points through Marriott and instead purchase a deeded or RTU property through a resale web site. I purchased a week at the Ocean Club in Aruba for a fraction (and I mean a small fraction) of what it would have cost directly from Marriott and I could not be happier. In fact, I just signed a contract to buy another week there through Red Week. Yes, the maintenance fees can be high but you have to remember your paying for a week with a large room complete with kitchen etc.. That same hotel room would cost me $350 - 450 a night so my maintenance fees are well worth it as long as I only put a small investment into the property to begin with. Personally, if you can purchase on the resale market for a small amount, I think it is a great deal! I may look for another week soon.
I have sat through the new point system and researched it and in my opinion, just not worth it. I would only want to purchase a deed or RTU and only through a resale market. I do not regret my purchase at all and I love Aruba so much I have not traded my week yet but may in the future.
I personnaly would not be interested in a red week. I am not interested in going to the islands in the summer. So, I think that people do need to compare apples with apples. Or the fall. It is probably busy in summer. You can go really cheap to Aruba in the fall anyway. I went with friend to Curacao (spelling) for less than 1000 each and that included air. I personally don twant to keep goong back to same place. others enjoy it. I own in Ft. Lauderdale. I have not been back since 2000 when I purchased.
i am platinum which really gives you choices and I own a lock off.
Some people buy a cabin in the mountains and take all their vacations at their mountain cabin. For me, I want to visit a variety of places. Also, I suspect that many of the trips to the cabin are not to relax, but to maintain it. I am a very happy MVCI owner. My wife and I are still working and we specifically purchased MVCI because of the flexibility of the program, and we first purchased back in the days when they sold weeks and not points. With the points they are even more flexible. Do the maintenance fees go up every year, more than I would like? Yes, but the alternative is worse - a property that is not being maintained properly. One of the reasons I went with a timeshare associated with a major hotel chain was that I knew that they would understand the need to create/maintain proper reserve accounts. Because I still work, I can not yet take the long vacations that I hope to in the future. For now we convert most of our time shares to Marriott Reward points and we do a long weekend each month, staying at Marriott hotels and flying free on Southwest. All thanks to Marriott reward points. We have made multiple purchases over about 10 years and are "Premier Plus" so come January we see a pretty hefty maintenance fee bill come due. I used to dread it, but I have come to realize that I am just "prepaying" for my vacation for the next 12 months. I have never considered my time shares a financial investment, I consider them an investment in a life style. Time shares are not for everybody, but then neither are mountain cabins.
I Agree. I want to get rid of my house! People are sold a bill of goods thinking a house is an investment! It is not by any stretch. You are lucky if you make 1 %over your ownership period. Vacation home? No rhanks unless I intend pn retiring ther maybe. But, I will wait. I have stayed in some tomeshares that were downright disgusting! With Interval it pays because I travel so much. I travel so much that I have to hurry to use vacations! At times I loose them,
sad but true. Whoa is me!
Awesome thread you've started Scotia. Everyone has contributed some invaluable insight to the topic, which I imagine other users will find very useful in the future. Great comments, everyone!
Just returned from celebrating spring break holiday with our children and grandchildren at Marriott Grand Ocean Villas at Hilton Head. We had three others staying in villa with us and some 10 other family members and friends, who were staying nearby, joined us for dinner on three evenings. We could not have done this in a hotel room(s), much less enjoyed the many amenities provided by the MVCV.
Well, the answers are quite diverse. We are 'legacy' owners...meaning we had 'deeded' property at our locations.
First bought in 1999. In 2000, not fully understanding how things worked...we almost threw in the towel.
But over the years, we've learned more from going to 'presentations' and talking with other owners at group 'cocktail hour'.
Yes, owning a timeshare "makes" you take a vacation. And with proper planning, budgeting, etc. it is a truly amazing experience. (The grown 'kids' and grandkids love it too.)
We have enrolled our weeks into the Destination Program. That has worked out just fine. Keyword=planning.
And yes, the annual maintenance fees go up each year. But realistically, so does everything else.
If your a homeowner-your real estate taxes, your insurance, the maintenance on the home have gone up over the last 10-15 years, no?
We would not buy now. The 'points' purchase into the Marriott Trust is quite expensive if you want enough points to get to where you want to go.
pointjunkie I agree with decision about additional destination points. We recently sat through another presentation at Hilton Head Surf Watch and were considering an additional purchase, but after comparing the price/point we paid earlier and today's market price, we decided against additional points. As I've mentioned before, we typically try to maximize the use of our points by booking reservations especially in coastal properties in the "off season". For instance, we stayed at the popular Hilton Head Harbour Club this January for five nights for a total of 250 points! At the nightly rate of some $500, this was quite a savings!
All new sales are points at about $12.47 per point, or 3,000 points for about 33K OTD. They give you a 3K bonus points. You can book through Interval too at NO COST.
Remember most of these locations are 5 Star, like Taliand Tuscany, Paris, the greater savings are in Europe etc. as hotels are $$ in these areas. Off season in Colorado Springs at a 1,600 sq foot place is like 100 points per night, so the points can go far. In addition they have yearly packages that include air fare for 2, 7 nights, food, tours, etc at about half price as they book flight seats 1 year out.
Whether for weeks owner with attractive location or points owner the recent lack of inflation could hide a potential value of what you purchased. You are exposed to MF inflation but not on the property value. For weeks owner pick an over built location or declining popularity you lose all around. No recommendation but destination points reduces location risk.
If you bought preconstruction HI years ago your maintenance is much higher but the hotel or resort cost is significantly more. Note: bought weeks long ago to force vacation planning and make it easier to have a family or friends crew in one place with all else secondary. It worked.
We own a week at the Marriott Aruba Surf Club, as well as some extra Destination Points. The flexibility it offers us is very good. We travel with the entire family, (son daughter, their spouses and 2 grandchildren). To get three hotel rooms for a week at a 4 or 5 star resort would be cost prohibitive. We love the timeshare, we all fit into a 3 br unit and get to spend quality time together away on vacation. It is not an investment in real estate by any means, it does provide a guaranteed fantastic family vacation experience for us. I have no problem getting my first or second choice when we exchange for other Marriott properties. Next trip is to St. Thomas coming up soon.
I have always been against timeshares. I feel that hotels are nicer and you get more service. And I still do. I always felt that when I'm on vacation I don't want to cook or do laundry. A few years ago I gave in and we bought a resale at the Aruba Surf Club.
I love it. We have gone down with our children and grandchildren. We have taken friends. It is definitely worth it having the lock off. If we split I am able to get 2 vacations a year from the one unit. Having a timeshare does "force" us to go somewhere. Of course we are at a time in our lives that we are available to take the vacation time. We split the unit this year and are going to St Kitts in July and Kauai in January.
Still don't want to cook, but it is nice to be able to have hot leftovers rather than eating them cold. With the extra costs for luggage, having that washer is great. Especially at resorts with the swimsuits. It's also nice not having that big load to do when get home.
Funny thing, my husband wants to sell and I won't let him!
You get the nights credit, but unfortunately stays do not count towards the mega bonus promotions.
Great choices on your split this year. The Marriott on St Kitts is great, the property is clean, has a huge pool and the beach is plenty big with lots of cabanas. As far as Kauai that sounds amazing, that is the next Hawaiian island my wife and I want to visit. We absolutely love Maui and have been to O'ahu and have seen a tiny bit of the Big Island. I am sure you will love Kauai.
Uunfortunately due to unforeseen circumstances we had to cancel. Very disappointed as first time since resort opened we missed a year. Making up for it next year as we have 2 trips scheduled.
We love St Kitts. Even though we like Aruba, we find it much more relaxing In St Kitts. Grandkids love it too.
I am a little worried that Aruba will be too commercialized and crowded. I am sure the kids will love it, but I have a feeling I'm going to like St. Kitts better. St. Kitts is so calm and relaxing and not overcrowded at all. I really would go back there anytime, and the villas can't be beat.
The St Kitts Marriott is a very nice property. I liked the huge pool and there were plenty of chairs. The beach was decent, plenty of room to stretch out and the little permanent huts they put in are a nice way to enjoy the beach without getting burned by the sun. The restaurants aren't amazing but were decent enough.
Yes Aruba is overcrowded and commercialized but there are more things to do. What I find most appealing is the ability to walk to all the different hotels and restaurants. We do enjoy our daily stroll along the beach.
However i ever I do like the appeal of the quiet calm of St Kitts. Let me know how your trip went and which island you prefer. Either way I know you will have a great vacation.
We've owned 2 weeks Ko Olina since 2003, paid $35k per week. Great when the kids were young, and we traded points and Interval etc but the past years, don't need them anymore. There's serious points devaluation in the MR program while I'm not getting any more for my traded week than 13 years ago; you can only trade a week for MR points every 2 years - the new points system is worse, because those points expire too soon - and the maintenance fees have exploded, way more than doubled in 13 years, from about $800 to over $2,000! Per week! I tried renting out a week this year and Marriott's offer was a measly $1,760, taxable income, so I'd net about $1,400, not even close to the maintenance fee! Why would I give Marriott $600? Per week?
Been trying to sell these weeks for over a year now, via Marriott. They offered $10k for one week last year, while they say they're selling these for $60k now. Didn't fall for that; what a slap in the face. Note that I'm a lifelong Marriott fan, platinum lifetime status but these MVCI weeks are terrible to get rid of.
I would not do this again - as my wife keeps reminding me, this was not my brightest idea!
Anybody have a suggestion for how to sell these puppies?!?
What hasn't doubled in 13 years (except my salary and the price of gas)? If they were not increasing the maintenance fees every year they would not be maintaining the property properly. As the owner of a condo where they failed to properly increase the monthly maintenance fees, I know what happens: huge special assessments to make up for what was not properly maintained. One of the reasons I elected to purchase time share from a company associated with a major hotel chain was that I knew they would understand then need to keep the property maintained, just like a hotel. MVCI is much more than just time share units. Converting them to MR Points has allowed my wife and I to take monthly 3 - 5 day weekends at Marriott hotels in LA, Seattle, Denver, Austin and New York this year while flying free on SWA.
Your point is well taken and valid except for one thing that has not doubled in 13 years: the amount of MR you get for your week when trading it in. We still get the 110k per week from 2003, whereas everything else related to using MR points has gone up dramatically, adding new and higher categories and inflation in how many points per night.
Another limitation of the program is that you can only trade for MR points every other year. The new destinations points program has too many limitations and expiration, even with banking, occurs too soon.
If we'd see an increase in points per week and the program allowed yearly trade, I'd be happier. At this point, after some 13 years, I'm having a very hard time selling the weeks except at a huge week. My own fault: I did not look this far into the future when buying. Don't get me wrong though: love Ko Olina, love Marriott: I'm a Lifetime Platinum. Just not satisfied with the decreasing points value and how hard it is to sell except at a projected 50-80% loss.....
We bought because we love the MVCI units. With kids, it's nice to have the separate bedrooms, washer/dryer and full kitchen. We use the kitchen and bring less clothing because of the washer and dryer. We are spoiled now and find regular hotel rooms too constricting! We bought as a way to ensure family vacations get taken every year at places we would otherwise not visit - in other words, we thought MVCI ownership would help expand our horizons. So far we have stayed at Ko Olina, Royal Palms, Sabal Palms, BeachPlace Tower, St. Kitts, and Crystal Shores. And we have Aruba Surf Club booked for Feb. So we are happy with our purchase.
I forgot to mention that you can purchase the MVCI points on your MR Visa which will get you lots of MR points, so that is a plus as long as you can pay off the Visa the next month and don't incur ongoing interest charges. We did that and got about 150,000 MR points and a bunch of nights credited to our annual elite qualification. Make sure you get the best possible offer/bonus. They will negotiate. They offered us 4 nights in Florida as our incentive to do the presentation, and I said I'd rather have Hawaii so they then changed the offer to Hawaii but only because we asked. Then when you go and do the 4 night stay for your promo, add a couple nights and ask them to comp those when you buy. We did that, and they comped our whole week in HI even though the original offer was 4 nights in FL for a discounted cost.
I would recommend buying into the MVCI if you want to take an annual vacation and like to book well in advance to ensure prime location and room type. We have owned for 5 years and have visited Maui 3x's, St. Thomas, Aruba, Myrtle Beach, Las Vegas, Arizona and Florida 2x's. My children are now in high school and college and we are contemplating buying a vacation home and are considering selling our points. Does anyone have experience selling points? We paid a very low price back in 2010 so selling at a discount to today's price seem OK to us. Any thoughts?
coupons, thanks! Very helpful. Glad I was wrong about the transfer fee! Did you purchase a deeded week at a particular property or land trust points, or what? Who did you go through? We would like to buy more land trust points one of these days.
our two timeshares are both in Aruba; Aruba properties are not "deeded"; depending upon where you want to purchase will determine deeded or RTU (right to use); different properties may charge different transfer fees; as superchief1 stated start by looking at Timeshare User Group forum; use the web to search for info about Ts you will find a wealth of information
coupons, thanks for the info. Very interesting. RTU must be a lease of some kind which might explain why it was perhaps a bit easier to assign than a deeded interest might be. I learn something new every day on this site.
I suggest you start with the Timeshare User Group forum. This is a great resource for advice regarding timeshare purchases and usage for Marriott Vacationclub and other timeshare companies. There are several suggestions regarding where to find the best deals for timeshare purchases or rentals, as well as how to avoid scams. It is also a great resource for travel planning for the specific resorts and surrounding areas.
I purchased point this year. They tell you that 98% of the time you can get your request honored, B.S. In what time period. I tried in two week time period to book, Spain, 3 locations, Kauai., and no luck. Now I was trying to book two months out.
HERE IS WHAT THEY DO NOT TELL YOU!!!!!!!!!!!!!!!
Resorts have limits so a point owner may not be able to book 1 year out as the old "property" owners have filled the place up along with points owners. And get this, you can still pay online via Marriott hotel website for a room. Yes, they will sell you a room by the night yet deny an owner their rights to a booking. This burns my *** big time. I would imagine buried in the 100 pages of Harvard lawyer contract they give you they can do this.
Aside from that they are very nice places and can be exchanged of used for cruises.
I just booked a Med cruise from Venice on points for just over 1 years value. I would pay the equal of $2,000 for the points and the cruise is a $3,300 deal if I paid ca$h.. Not bad and not terrific.