ktroncroz
newbie
Hi all,
My family was in Hawaii last week on vacation. While my wife and were taking a nap and a break from our 2.5 year old twin boys we saw an ad for the Maui Ocean Club on TV. Later that evening we stopped into the marketing center on Front Street and arranged a presentation for the following day (Tuesday). We like the story and a time share seemed to make a lot of sense for my family, so at the end of the presentation we ended up with a:
* EOY (odd years) floating access to a 2 Bedroom/2 Batg Villa with lockoff in the Napili tower (to be completed in Feb '09) at a cost of $25k.
* 100,000 Marriott Reward points
* We financed through Marriott but plan to pay off the note in just a short period of time (2 to 3 months).
* 18 months to buy another EOY for even years at same price and another 100,000 MRP.
* II membership.
We plan to most likely use the timeshare in hawaii for the next few years. We will then probably pick up the other half and trade that for places like Disneyworld and fun locations for the kids. As a family we like to travel off season and avoid the crowds - hopefully this works in our favor when we trade, etc.
As soon as we made the purchase I began scouring the internet to determine if we did right thing and I ended up here. I have been reading the threads here and all information that I can find as quickly as I can to try and understand all the details.
Today is Sunday, I believe tomorrow is the last day I can rescind so I am trying to confirm that I made right decision and also make sure I can get the most from my purchase.
So the following questions come to mind:
1) Did I do the right thing buying from the developer? Looking around I don't see many MOC units available for resale and the ones I do see are mostly in the original building (no full kitchen). That being said would patience serve me well and get the same unit (or an every year unit) at the same cost or cheaper in our bad economy?
2) I have seen people mention paying for the TS with the Marriott card for additional MRPs (75k in this case). Is this a good idea given what I have seen about some of the devaluing MRP? I saw something about need to convert the transaction to cash instead of marriott financing.
3) Is there anything else I should know, double check or otherwise read to get the most of out our time share? Any advise you can provide would be much appreciated as we finalize this deal in the next day or so.
I will be re-reading the paperwork today to make sure I hopefully understand what we have gotten ourselves into.
This is great resource and I am sure if stay in the TS world I will be a tug member soon.
Thanks,
Kevin
My family was in Hawaii last week on vacation. While my wife and were taking a nap and a break from our 2.5 year old twin boys we saw an ad for the Maui Ocean Club on TV. Later that evening we stopped into the marketing center on Front Street and arranged a presentation for the following day (Tuesday). We like the story and a time share seemed to make a lot of sense for my family, so at the end of the presentation we ended up with a:
* EOY (odd years) floating access to a 2 Bedroom/2 Batg Villa with lockoff in the Napili tower (to be completed in Feb '09) at a cost of $25k.
* 100,000 Marriott Reward points
* We financed through Marriott but plan to pay off the note in just a short period of time (2 to 3 months).
* 18 months to buy another EOY for even years at same price and another 100,000 MRP.
* II membership.
We plan to most likely use the timeshare in hawaii for the next few years. We will then probably pick up the other half and trade that for places like Disneyworld and fun locations for the kids. As a family we like to travel off season and avoid the crowds - hopefully this works in our favor when we trade, etc.
As soon as we made the purchase I began scouring the internet to determine if we did right thing and I ended up here. I have been reading the threads here and all information that I can find as quickly as I can to try and understand all the details.
Today is Sunday, I believe tomorrow is the last day I can rescind so I am trying to confirm that I made right decision and also make sure I can get the most from my purchase.
So the following questions come to mind:
1) Did I do the right thing buying from the developer? Looking around I don't see many MOC units available for resale and the ones I do see are mostly in the original building (no full kitchen). That being said would patience serve me well and get the same unit (or an every year unit) at the same cost or cheaper in our bad economy?
2) I have seen people mention paying for the TS with the Marriott card for additional MRPs (75k in this case). Is this a good idea given what I have seen about some of the devaluing MRP? I saw something about need to convert the transaction to cash instead of marriott financing.
3) Is there anything else I should know, double check or otherwise read to get the most of out our time share? Any advise you can provide would be much appreciated as we finalize this deal in the next day or so.
I will be re-reading the paperwork today to make sure I hopefully understand what we have gotten ourselves into.
This is great resource and I am sure if stay in the TS world I will be a tug member soon.
Thanks,
Kevin