Are you considering becoming a Marriott Vacation Club owner? If so, one of the most important things to consider is the cost.
As with any major purchase, it’s essential to understand what you’re getting into and how much it will cost you. In this article, we’ll break down the costs associated with becoming a Marriott Vacation Club owner.
Initial Purchase
The first thing to consider when becoming a Marriott Vacation Club owner is the initial purchase price. The cost varies depending on which resort and room type you choose. Marriott Vacation Club offers different levels of ownership – from weeks-based ownership to points-based ownership.
Points-based ownership is the most popular option and allows for more flexibility when booking vacations. The initial purchase price for points-based ownership at Marriott Vacation Club starts at around $20,000 and can go up to $100,000 or more depending on the resort and room type.
Maintenance Fees
Once you become a Marriott Vacation Club owner, there are ongoing maintenance fees that you’ll need to pay annually. These fees cover things like property taxes, utilities, repairs, and upkeep of the resort. Maintenance fees vary depending on your level of ownership and the specific resort that you own at.
For points-based owners, maintenance fees typically range from $800 to $2,000 per year. However, some resorts may have higher or lower fees depending on their location and amenities.
Financing Options
If you’re not able to pay for your Marriott Vacation Club ownership outright, there are financing options available. Marriott offers financing through their preferred provider – U.S Bank – which can help spread out the cost over time.
Interest rates on financing vary but can range from 10% to 15%. It’s essential to carefully consider financing options before committing as they can add significant costs over time.
Resale Market
If you’re interested in becoming a Marriott Vacation Club owner but are concerned about the initial purchase price, you may want to consider purchasing on the resale market. The resale market allows you to purchase an existing ownership from someone who no longer wants it. This can be a less expensive way to become an owner.
Resale prices for Marriott Vacation Club ownerships vary depending on the resort and room type, but they often sell for 30% to 50% less than the original purchase price. However, it’s essential to do your research and work with reputable resale brokers to ensure a smooth transaction.
The Bottom Line
Becoming a Marriott Vacation Club owner can be a great way to enjoy luxurious vacations year after year. However, it’s important to understand the costs associated with ownership before making a commitment.
The initial purchase price for Marriott Vacation Club ownership varies depending on the resort and room type, but it typically starts at around $20,000 for points-based ownership. There are also ongoing maintenance fees that range from $800 to $2,000 per year.
Financing options and the resale market can help make ownership more affordable, but it’s essential to carefully consider all options before committing. By understanding the costs associated with becoming a Marriott Vacation Club owner, you can make an informed decision that fits your budget and lifestyle.