Marriot Timeshare

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rookiebookie

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Hi, I'm looking at the possibility of a marriot timeshare. Anyone got any experience of them and how it works. cost is 20k for 1 week per year plus annual maintenance of €750. Running a little blind on it, but they appear to be a good outfit
 
That sounds way over the top for timeshare.Check out ebay as alot of timeshares are for sale on that,at prices under 1,000 dollars.
 
Let's assume that you get 20 years out of this. €20K + (20 * €750) = €35K or €1,750 p.a. What do you get for that? A week in a hotel or resort? On what basis (self catering, half board, full board)? What facilities all-in? For one person or as many as you want? Is the annual maintenance charge subject to review? On what basis? Etc. etc... Presumably you still have to pay for flights and other expenses to get there in the first place? What happens if/when you want to terminate the deal - can you sell it on or what?
 
I know nothing about timeshare but E750 pa plus an initial investment of E20k for 1 week looks like crazy money to me. I assume that there are 51 other owners, each paying the same maintenance. Would that mean that the annual maintenance fees would be E39k. Must be some property.

The other thing that would worry me with a timeshare is that your dates are fixed. Would you not get bored out of your brain going back to the same place each year, imagine 10 years time, when your circumstances may have changed.

Also, what happens if you cannot go on holiday next year because of sickness, work, family problems or something else unexpected. I assume you are still going to have to pay the maintenance and your holiday insurance is not going to cover maintenance fees.

Finally, what happens when you want to sell. What level of commission will the EA and the lawyers charge. % wise it's going to have to be very high to make it worthwhile for them to do anything.

Have a look at what you can rent directly from the owner. Let him worry about maintenance etc

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Murt
 
I had a look at this as well and it seems good to me. it is not the traditioanl timeshare...you do actually own 1/52nd of the property for perpetuity. Admittedly the mgmt charge is a little high. You are not tied in to any week of the year nor are you tied in to the particualr destination, for e.g you coudl take your week at the Marriott in druids Glen or a marriott in Buenos Aries, whereever they happen to have a marriott vacation club.

I looked at it 2 years ago an dit was $12,500 which, given that it is yours, you can sel lon so it is a proper investment (albeit with an annual mgmt charge) I say go for it if you have the spare cash
 
I own timeshare. All bought re-sale.

Marriot is out of my class, I'm afraid.

The only question to sort out is, what to do if you want to get rid of it.

Maintenance is for ever.

A lot of timeshare is almost worthless, if you want to sell it. Some people give up paying the maintenance hoping that the resort will confiscate the week back! Some people in America give their timeshare away to a charitable organisation, for free, because they can't get shut of it.

Some folk claim that it costs 50% of the origional price of timeshare to sell it in the first place. This means that overnight it could drop 50% in value.

When you see the value of property in Ireland, timeshare is going the other way,

Look up some of the re-sale agencies and see what the re-sale price of your Marriot resort is.

Proceed very slowly,

Regards,

Liamog
 
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