If you’re planning to invest in a vacation club, Marriott Vacation Club could be a great option. However, before taking the plunge, it’s important to understand what costs are associated with ownership.
Initial Costs
To become a Marriott Vacation Club owner, you’ll need to make an initial purchase of a specific number of points. The cost per point varies depending on the resort and the time of year. Generally speaking, the more desirable the resort and the time of year, the higher the cost per point.
Financing Options
Marriott Vacation Club offers financing options for those who cannot pay for their purchase in full. These options vary depending on your credit score and financial situation.
Annual Fees
Once you become an owner, you’ll be responsible for annual maintenance fees. These fees cover things like property taxes, insurance, and upkeep of common areas. The amount varies depending on how many points you own and which resort(s) you choose.
Special Assessments
In addition to annual fees, owners may also be charged special assessments from time to time. These are one-time charges that cover unexpected expenses like repairs or renovations.
Exchange Fees
If you want to exchange your Marriott Vacation Club points for stays at other resorts or hotels within the Marriott network, you’ll need to pay exchange fees. These fees vary depending on the specific property and time of year.
Selling Your Ownership
If at some point in the future you decide to sell your Marriott Vacation Club ownership, there may be additional costs involved. For example, if you choose to sell through Marriott’s resale program, there will be a commission fee that is deducted from the sale price.
So How Much Does It All Cost?
It’s difficult to provide a specific answer since costs vary so widely depending on factors like resort location and time of year. However, as a general rule of thumb, you can expect to pay anywhere from several thousand to tens of thousands of dollars for your initial purchase.
Annual fees
Annual maintenance fees typically range from $700 to $2,000 per year.
Special assessments
These charges are unpredictable and can vary widely depending on the specific resort and the nature of the expense. As an owner, it’s important to be aware that these charges can arise at any time.
Exchange fees
Exchange fees typically range from $100 to $300 per exchange.
Selling your ownership
If you choose to sell your ownership through Marriott’s resale program, be prepared to pay a commission fee of up to 25% of the sale price.
Final Thoughts
While Marriott Vacation Club ownership can be a great investment for some travelers, it’s important to carefully consider all associated costs before making a purchase. Be sure to factor in not only the initial purchase price but also ongoing maintenance and exchange fees as well as the potential for unexpected expenses like special assessments. With careful planning and budgeting, though, becoming a Marriott Vacation Club owner could be a great way to enjoy luxurious vacations for years to come.