Are you considering becoming a Marriott Vacation Club owner? It’s a great way to secure your vacation accommodations for years to come. But, you may be wondering, how much does it cost to become a Marriott Vacation Club owner?
Initial Purchase Price
The initial purchase price of a Marriott Vacation Club ownership varies based on the resort and unit size you choose. Prices can range from around $20,000 for a studio villa at a lower-tier resort to over $100,000 for larger villas at more luxurious destinations. It’s important to note that these prices are not set in stone and can fluctuate based on market demand and availability.
Financing Options
If the upfront cost of ownership is too steep for your budget, Marriott Vacation Club offers financing options through its lending partner, U.S. Bank. This allows you to spread out the cost of ownership over several years with competitive interest rates. Keep in mind that financing will add additional costs in the form of interest payments.
Maintenance Fees
In addition to the initial purchase price, Marriott Vacation Club owners must also pay annual maintenance fees. These fees cover the cost of property taxes, utilities, upkeep of common areas and amenities, and other expenses associated with owning and maintaining a vacation property.
The amount of maintenance fees varies depending on the resort and unit size you own but usually ranges from around $800 to over $3,000 per year. It’s important to factor in these ongoing costs when considering whether owning a timeshare is right for you.
Exchange Fees
One of the benefits of owning a timeshare is the ability to exchange your week or points for stays at other resorts within your vacation club network or with external exchange companies like RCI or Interval International. However, there are fees associated with exchanging your vacation time.
Marriott Vacation Club charges an exchange fee starting at $149 per exchange transaction, plus any additional fees charged by the external exchange company. Keep in mind that exchange availability is not guaranteed and can be impacted by factors such as high demand or resort renovations.
Resale Market
If you decide to sell your Marriott Vacation Club ownership in the future, it’s important to understand that resale prices can vary widely. While some owners may be able to sell their ownership for a profit, others may have difficulty finding a buyer willing to pay the original purchase price.
It’s also worth noting that Marriott Vacation Club has a right of first refusal policy, which means they have the option to purchase your ownership before you can sell it on the open market. This can impact your ability to sell and may affect the resale value of your ownership.
Final Thoughts
Becoming a Marriott Vacation Club owner comes with an upfront cost as well as ongoing maintenance and exchange fees. However, for those who prioritize vacationing at luxurious resorts with top-notch amenities, owning a timeshare can provide significant savings over traditional hotel stays.
As with any major financial decision, it’s important to do your research and carefully consider all costs before committing to a timeshare ownership. By understanding the costs associated with becoming a Marriott Vacation Club owner, you can make an informed decision about whether this is the right choice for you and your family.