Marriott TimeShare Worth It?

[Leeyoo]

Hello everyone - I'm still processing on what timeshare I want to purchase. I do know the location Miami/Ft. Lauderdale area close to the beach. My questions:

Are they worth the price and MF? (Around $1500)
Do they have a good trading power because of their name?
Will I'll be able to sell them a lot quicker if I ever want to get rid of it?
Why not Ft. Lauderdale Beach Resort or other TS with lower MF close to the beach?


Thank you all for input.

Leo

 

[ljmiii]

First off take this advice with a grain of salt since I don't own at Marriott's BeachPlace Towers and have never stayed there - I just researched it when looking at places to stay last year.

The people who know what they are getting into LOVE it. Nice rooms in a modern tower with good views of the ocean or Ft. Lauderdale (particularly for owners). The beach is right across the street and there is plenty of 'Ft. Lauderdale' food and shopping all around. The complaints are that there isn't a nice lobby/entrance facing the Boulevard, the parking is wonky, that they didn't get a nice ocean view (those usually go to weeks owners), and most of all that Ft. Lauderdale isn't Miami Beach (or Waikiki).

As for the rest of your questions, I'm a 'buy where you want to stay' kind of guy. I can tell you that BeachPlace Towers is one of the 'Florida Club' properties (Grande Vista – Orlando, Legends Edge – Panama City, Villas at Doral – Miami, Beach Place Towers – Ft Lauderdale, and Ocean Point – Palm Beach Shores) and that you'll be able to book into those resorts rather than trade at 6 months out (subject to availability).

 

[Hi I'm new here]

Before you buy check out the timeshare and condo rental market on Redweek, TUGG, EBay, AirBB, etc. Many timeshares rent for the equivalent of maintenance fees, or even less than maintenance fees.
Consider maintenance fees go up and up and up. We are former Marriott owners, the yearly fees that started at $300 are now $1600 and rising every year. Special assessments can be levied. You have to pay additional fees to belong to the trading entities like II. You pay the fees whether you use it or not.

Selling a timeshare?? Values rise and fall with the economy. During the Great Recession a friend of mine was buying Marriott platinum for $500,$1000. Few people recover their initial investment plus yearly fees.

Do some simple math in your head, add your upfront costs plus yearly fees over a ten year period. Divide the cost and analyze. Anticipate your interests will change over time and you may get bored with It. You will get interested in other vacation options.

 

[JIMinNC]

Before you buy check out the timeshare and condo rental market on Redweek, TUGG, EBay, AirBB, etc. Many timeshares rent for the equivalent of maintenance fees, or even less than maintenance fees.
Consider maintenance fees go up and up and up. We are former Marriott owners, the yearly fees that started at $300 are now $1600 and rising every year. Special assessments can be levied. You have to pay additional fees to belong to the trading entities like II. You pay the fees whether you use it or not.

Selling a timeshare?? Values rise and fall with the economy. During the Great Recession a friend of mine was buying Marriott platinum for $500,$1000. Few people recover their initial investment plus yearly fees.

Do some simple math in your head, add your upfront costs plus yearly fees over a ten year period. Divide the cost and analyze. Anticipate your interests will change over time and you may get bored with It. You will get interested in other vacation options.

This is generally very good advice in that you should be sure you've done your homework on your needs and wants and the alternatives before committing to any purchase. I'll just point out a few caveats:

1.) Direct-from-owner rentals from Redweek, TUG, eBay, AirB&B, etc. can indeed often be rented for maintenance fee costs or less. (But not always in high demand locations/high seasons, those sometimes go for double the maintenance fee.) But these owner-based rentals come with limited to no cancellation rights and additional risk because you are dealing direct with an owner not a large company with many resources behind them. There are scammers out there in the owner rental market. But if you are willing to live with those limitations and risks, these kinds of rentals can offer great savings over rentals from mainstream rental markets like Marriott.com, Expedia, Orbitz, etc., and may be an alternative to ownership for some people.

2.) The financial losses on selling a timeshare are primarily realized when you've bought your ownership directly from the developer at their much higher prices. If you buy resale and don't overpay, your "losses" can be minimized. But I've always thought this to be somewhat of an illusory argument. Most things you buy are worth less than what you paid when you try to sell. Cars, even used cars, can rarely be sold for what you paid. Look at all the resale items on eBay, Craigslist, etc. - all are being sold at a "loss". So why should people be concerned about recovering their initial investment on a timeshare when that doesn't concern them when buying a car? The value of a timeshare - like a car - is in the use. A TIMESHARE IS NOT INVESTMENT PROPERTY. It is something to use and enjoy and then when you sell, get whatever you can based on the market value. I really don't understand the logic of why someone would ever expect to buy a timeshare and then expect to be able to "recover their initial investment plus yearly fees." A timeshare is not the same as regular real estate.

3.) Yes, it is correct to consider that your interests may change over time, but that doesn't mean you shouldn't buy. We've owned timeshares of one kind or another since 1999. Back then we had an infant and a pre-schooler. Now we have two college students. And just because you own a timeshare doesn't mean that restricts you to only timeshare vacations. The first timeshare we bought in 1999 worked well for 10-15 years, but when we decided we needed more flexibility than a traditional weeks-based ownership offered, we sold it and bought into Marriott's new points product. Now we are no longer locked in to 7-night stays and can use our ownership for long weekends and other shorter stays. And throughout our 18 years of ownership, we've taken other trips not involving our ownership - things like a multi-city trip to California using hotels, a Disney Caribbean cruise, etc. My wife and I are planning a Mediterranean Cruise for next year. Timeshare can function well as one piece of a travel strategy, but rarely can it serve 100%.

The most important thing is to do your homework and figure out what works for YOU.

 

[JIMinNC]

Hello everyone - I'm still processing on what timeshare I want to purchase. I do know the location Miami/Ft. Lauderdale area close to the beach. My questions:

Are they worth the price and MF? (Around $1500)
Do they have a good trading power because of their name?
Will I'll be able to sell them a lot quicker if I ever want to get rid of it?
Why not Ft. Lauderdale Beach Resort or other TS with lower MF close to the beach?


Thank you all for input.

Leo

I'll try to address your questions specifically as best as I can:

1.) Are they worth it? Value is in the eye of the beholder. If it meets your needs, it is worth it for you. You have to analyze your specific case. There are ways to vacation that cost more and ways that cost less, but each comes with its own advantages, risks, disadvantages, etc. You can visit Miami/Ft. Lauderdale and stay in Ritz Carlton hotels or you can stay at Motel 6. You can rent a luxury beachfront condo, or a cheap apartment behind a shopping center. Same with timeshares. It's all in what you want. Understand your options before buying. In a simplistic form, take your purchase cost, net out what you think you might be able to sell it for in the future, and then spread this net cost over 10, 15, 20 years - however long you think is a reasonable use window. Add in the annual maintenance fee and then divide that total annual cost by 7 nights to arrive at a nightly cost. Does that seem like a good value for what you are getting?

2.) Generally, Marriott timeshares hold their value a little better than most timeshares because of the Marriott brand. If you buy at a good price resale, whenever you sell, you should find it easier to sell a Marriott than a non-branded timeshare. The trading power has more to do with season and location than just the brand, but I think because of the brand, you'll find that Marriott's probably have better trade power than other non-branded properties in the same location and the same season.

3.) As far as why not to pick another property with a lower MF? Is the quality equal to Marriott? Do their brand standards require that they maintain the property in the same way that Marriott brand standards dictate. Does this even matter to you? Some people care more about price and are willing to accept fewer amenities and less luxurious furnishings in order to get that lower price. Other people value the quality and amenities of Marriotts. Still others consider Marriott to be too mass market and prefer higher end properties like Ritz Carlton and Four Seasons.

Analyze your own personal needs.

 

[AlmostRetired]

Why not Ft. Lauderdale Beach Resort or other TS with lower MF close to the beach?

In 1995 I purchased a resale Summer Marriott Monarch and a Summer Resort World of Orlando (via Auction). The Resort Word was purchased site unseen to be used for trading. It was a 5 star II timeshare on par with the Monarch. I actually traded into the Monarch and Grand Ocean a few summer electing for reward points with the Monarch. Both MF fees at the time were about 400. I have never stayed at the Resort World even though I owned it 20 years. in 2015, I gave the Resort World away for free. The MF was about 750 while the Monarch was about 1100. Over the years, Resort World changed management and name twice. It lost the Marriott equivalent status. From the person I gave it to it is a nice resort but it is no Marriott. I do not know the resort you are comparing it to. Learn about the management company.


Are they worth the price and MF? (Around $1500)
What makes my ownership worth it is I own where I enjoy going (HHI), I purchased resale, it trades when I need to but as my kids got older, the ability to rent from 50 to 100% about my MF is a big plus. I have rented at least one unit the last 5 years and used the money to vacation to Punta Cana, Barcelona, New Mexico to name a few. As long as I can turn my unit to cash above MF, I have some independence from Marriott changes. My last point is you being flexible is important.

So is it worth it for you... maybe ... maybe not.

 

[Leeyoo]

I'll try to address your questions specifically as best as I can:

1.) Are they worth it? Value is in the eye of the beholder. If it meets your needs, it is worth it for you. You have to analyze your specific case. There are ways to vacation that cost more and ways that cost less, but each comes with its own advantages, risks, disadvantages, etc. You can visit Miami/Ft. Lauderdale and stay in Ritz Carlton hotels or you can stay at Motel 6. You can rent a luxury beachfront condo, or a cheap apartment behind a shopping center. Same with timeshares. It's all in what you want. Understand your options before buying. In a simplistic form, take your purchase cost, net out what you think you might be able to sell it for in the future, and then spread this net cost over 10, 15, 20 years - however long you think is a reasonable use window. Add in the annual maintenance fee and then divide that total annual cost by 7 nights to arrive at a nightly cost. Does that seem like a good value for what you are getting?

2.) Generally, Marriott timeshares hold their value a little better than most timeshares because of the Marriott brand. If you buy at a good price resale, whenever you sell, you should find it easier to sell a Marriott than a non-branded timeshare. The trading power has more to do with season and location than just the brand, but I think because of the brand, you'll find that Marriott's probably have better trade power than other non-branded properties in the same location and the same season.

3.) As far as why not to pick another property with a lower MF? Is the quality equal to Marriott? Do their brand standards require that they maintain the property in the same way that Marriott brand standards dictate. Does this even matter to you? Some people care more about price and are willing to accept fewer amenities and less luxurious furnishings in order to get that lower price. Other people value the quality and amenities of Marriotts. Still others consider Marriott to be too mass market and prefer higher end properties like Ritz Carlton and Four Seasons.

Analyze your own personal needs.

Great point. Thank you!

 

[Leeyoo]

This is generally very good advice in that you should be sure you've done your homework on your needs and wants and the alternatives before committing to any purchase. I'll just point out a few caveats:

1.) Direct-from-owner rentals from Redweek, TUG, eBay, AirB&B, etc. can indeed often be rented for maintenance fee costs or less. (But not always in high demand locations/high seasons, those sometimes go for double the maintenance fee.) But these owner-based rentals come with limited to no cancellation rights and additional risk because you are dealing direct with an owner not a large company with many resources behind them. There are scammers out there in the owner rental market. But if you are willing to live with those limitations and risks, these kinds of rentals can offer great savings over rentals from mainstream rental markets like Marriott.com, Expedia, Orbitz, etc., and may be an alternative to ownership for some people.

2.) The financial losses on selling a timeshare are primarily realized when you've bought your ownership directly from the developer at their much higher prices. If you buy resale and don't overpay, your "losses" can be minimized. But I've always thought this to be somewhat of an illusory argument. Most things you buy are worth less than what you paid when you try to sell. Cars, even used cars, can rarely be sold for what you paid. Look at all the resale items on eBay, Craigslist, etc. - all are being sold at a "loss". So why should people be concerned about recovering their initial investment on a timeshare when that doesn't concern them when buying a car? The value of a timeshare - like a car - is in the use. A TIMESHARE IS NOT INVESTMENT PROPERTY. It is something to use and enjoy and then when you sell, get whatever you can based on the market value. I really don't understand the logic of why someone would ever expect to buy a timeshare and then expect to be able to "recover their initial investment plus yearly fees." A timeshare is not the same as regular real estate.

3.) Yes, it is correct to consider that your interests may change over time, but that doesn't mean you shouldn't buy. We've owned timeshares of one kind or another since 1999. Back then we had an infant and a pre-schooler. Now we have two college students. And just because you own a timeshare doesn't mean that restricts you to only timeshare vacations. The first timeshare we bought in 1999 worked well for 10-15 years, but when we decided we needed more flexibility than a traditional weeks-based ownership offered, we sold it and bought into Marriott's new points product. Now we are no longer locked in to 7-night stays and can use our ownership for long weekends and other shorter stays. And throughout our 18 years of ownership, we've taken other trips not involving our ownership - things like a multi-city trip to California using hotels, a Disney Caribbean cruise, etc. My wife and I are planning a Mediterranean Cruise for next year. Timeshare can function well as one piece of a travel strategy, but rarely can it serve 100%.

The most important thing is to do your homework and figure out what works for YOU.

Well said!

 

[StevenTing]

Others have made good points.

I don't look at Timeshare weeks as investments. They are sunk costs. If I'm able to get something out of it when I sell it, that's a bonus. We have an emotional attachment to what we paid but when it comes down to it, we'll sell it for whatever we can get out of it. Buy a week where you will enjoy going. I like Marriott because there's a certain quality expectation.

 

[Vacation fun]

I own Marriott and have a week which is enrolled into the destination program. I have many times looked at adding more destination points however we do better and get more value out of splitting our week and trading it in II. The value and cost of the destination points do not add up mathematical as a value to us. Besides if I want point I could rent them.
Instead we have added more Marriotts at a fraction of the cost via reseale instead. We are both retired and find this a great way to get out of winters. Another words we do not see the value in buying destination points but do see value in the Resale of Marriott's.

 

[vacationtime1]

I own Marriott and have a week which is enrolled into the destination program. I have many times looked at adding more destination points however we do better and get more value out of splitting our week and trading it in II. The value and cost of the destination points do not add up mathematical as a value to us. Besides if I want point I could rent them.
Instead we have added more Marriotts at a fraction of the cost via reseale instead. We are both retired and find this a great way to get out of winters. Another words we do not see the value in buying destination points but do see value in the Resale of Marriott's.

+1

I calculate that buying and using destination points would cost me about $1.73 per point per use. I get this by assuming an $11/point purchase price (after discounts), a $3/point sales price in ten years, a 5% interest rate (which is too low, imo), and MF's of $0.53/point/year (and ignoring that MF's will increase).

That means a week in a one bedroom OF unit at the Maui Ocean Club during low season would cost me slightly over $7,000.

Absurd.

 

[Leeyoo]

If I do end up purchasing Marriotts TS (more than likely Marriotts BeachTower Place Ft Lauderdale).
Will I be able to trade it into other Marriotts location (Hawaii, Vegas, Europe, etc.)?

If I do end up with a Platinum week, how far in advance can I book holiday weeks or spring break?

This can be exchange to II right? My wife and I love to go to Mexico.

Thank you again everyone and Happy 4th!

 

[Vacation fun]

If I do end up purchasing Marriotts TS (more than likely Marriotts BeachTower Place Ft Lauderdale).
Will I be able to trade it into other Marriotts location (Hawaii, Vegas, Europe, etc.)?

If I do end up with a Platinum week, how far in advance can I book holiday weeks or spring break?

This can be exchange to II right? My wife and I love to go to Mexico.

Thank you again everyone and Happy 4th!

Yes, you will have all the rights of a Marriott owner with the exception of not having the ability to trade the week for Marriott Rewards points. You will need to add it to your II account. You have 12 months ahead to book the week you want.

 

[Leeyoo]

Yes, you will have all the rights of a Marriott owner with the exception of not having the ability to trade the week for Marriott Rewards points. You will need to add it to your II account. You have 12 months ahead to book the week you want.

Ok even if I purchase as a resale? I will still have same rights as original owner? Will I be guaranteed holiday weeks 12 months in advance as I will be competing with others?

 

[Vacation fun]

Yes. Concerning holiday weeks yes you will be competing with all the same rules as anyone that owns one week there. Be sure to call right at the 12 month mark.

 

[ljmiii]

There is never a guaranteed week for a floating timeshare - if you want to guarantee you'll be able to stay at a given week (e.g. Christmas) you need to buy a 'fixed' week. The good news for Christmas and New Years at BeachPlace Towers (weeks 51 & 52) is that week 50 is Gold - so the only way someone can get Christmas week at 13 months is to own gold & platinum or reserve at some other resort during week 50. And yes, aside from not having the ability to trade your week for Marriott Rewards Points or elect to convert your week into Vacation Club points you will have the same rights as the original owner.

 

[Leeyoo]

There is never a guaranteed week for a floating timeshare - if you want to guarantee you'll be able to stay at a given week (e.g. Christmas) you need to buy a 'fixed' week. The good news for Christmas and New Years at BeachPlace Towers (weeks 51 & 52) is that week 50 is Gold - so the only way someone can get Christmas week at 13 months is to own gold & platinum or reserve at some other resort during week 50. And yes, aside from not having the ability to trade your week for Marriott Rewards Points or elect to convert your week into Vacation Club points you will have the same rights as the original owner.

Ok I see. I will be purchasing a Platinum week. Is it 12 or 13 months in advance to call? I will be trying to reserve New Years next year and I'll make sure to call in advance. Thanks!

 

[skyequeen]

Having been to Ocean Point a couple of times I want to mention that Ocean Point and Oceana Palms are on the beach vs. across the highway from it at Beach Place Towers. Think hard about whether this is important to you. It is to me. Also, if O Point and the Palms have higher demand and you think you will be trading, then it might be better to buy one of them resale and trade into Beach Place. When I was in OP last time I believe I was told it is easier to get into. Of course, the most important thing is to own where you want to go - trading is getting harder for prime dates, and we own at two of the most valued resorts.

 

[Leeyoo]

Having been to Ocean Point a couple of times I want to mention that Ocean Point and Oceana Palms are on the beach vs. across the highway from it at Beach Place Towers. Think hard about whether this is important to you. It is to me. Also, if O Point and the Palms have higher demand and you think you will be trading, then it might be better to buy one of them resale and trade into Beach Place. When I was in OP last time I believe I was told it is easier to get into. Of course, the most important thing is to own where you want to go - trading is getting harder for prime dates, and we own at two of the most valued resorts.

Interesting point. I'll look into other resorts on the beach.

 

[Leeyoo]

I was looking into a 2 bedroom lockoff. Anybody familiar with this? I heard you can rent/trade one of the room and keep the other one for yourself. Is this true? If not, how does 2 bedroom lockoff work?

 

[ACE1]

I don't think Beachplace Towers is across the highway from the beach, more like across the street. If you think you would like to buy you might want to visit the property first. I'm a strong believer in buy where you want to go, even tho you might not go there every year.

Sent from my SM-N920V using Tapatalk

 

[Leeyoo]

Yes you're correct literally across the street. I've been around that area but not that particular Marriott. My thought is even if I can't go in a particular year/exchange it, I can see if I can rent it to break even with the MF or come up ahead. I do like Ft. Lauderdale area and also I maybe able resale it much quicker in the market in the future.

 

[jme]

I don't think Beachplace Towers is across the highway from the beach, more like across the street. If you think you would like to buy you might want to visit the property first. I'm a strong believer in buy where you want to go, even tho you might not go there every year.

Sent from my SM-N920V using Tapatalk

Exactly right, and very good description---it's a street. And I totally agree that a visit is necessary.
We didn't care for the property at all, but everybody is different.
In our case, we're glad we visited, but ruled out ownership and further visits.

But.......for anyone searching anything, or just "wondering"...

Anyone can use Googlemaps to look at the actual street and see what it is.
I'm continually surprised that people don't use the tools that are available to them instead of
relying on vague, subjective, and
sometimes conflicting descriptions by others.

aerial photo:
(can ZOOM in/out as needed, or click & drag)
https://goo.gl/maps/iR1NrhWZUP42

street-level photo:
(BeachPlace Towers is the tallest "yellow with orange-stripe" building on LEFT, above and behind the
white building on corner, so it's 2nd row & across street)
(Click & drag to adjust the view)
https://goo.gl/maps/m8ASvxkNWTx

 

[ACE1]

jme you are correct that is designated a "highway" I was referring to the actual size. We have stayed there 3 times and enjoyed our Ocean view and intercoastal views. Not sure which one I prefer, as we've been happy with both.

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[jme]

jme you are correct that is designated a "highway" I was referring to the actual size. We have stayed there 3 times and enjoyed our Ocean view and intercoastal views. Not sure which one I prefer, as we've been happy with both.

Sent from my SM-N920V using Tapatalk

We actually liked the intracoastal views---very interesting, and lots of action with boats coming and going, not to mention the amazing homes along the waterway. Wow. Beach view was nice, too, but after a while became slightly boring. (We had two units, one with friends using.)