Own vs. rent timeshares on TUG

[edwinj]

First, just want to say , from reading various forum posts that I am very glad to have found this TUG. Many folks on this forum are very helpful with information. I have learned a lot in a short time just reading some of the threads.

My brother has a Marriott timeshare that he wants to unload. Its for a week in a range of January to February at the LEgends Edge in Panama City FL. He has never actually stayed there, has always traded it for other locations and times on InTerval. He has traded it for Orlando usually. he has always traded for other marriott properties only.

I'm aware of the MF going up every year. (about 1,400 now) He raves about the quality of Marriott properties.

But in deciding whether to take it off his hands: other factors are we have 2 teenage kids that causes our summers to be unpredictable with band camps and various other family events. So I'm thinking why not just rent timeshares using this website and others like Redweek.

Probably in another 5 years is when we'll have a consistent budget, clearer schedule to plan ahead, and more available vacation time. So timeshare ownership might make more sense then. But ---I hate to pass up getting this Marriott property from my brother at a bargain now, with minimal stress, because I don't have to vet the owner and location - when I know that if I want to buy 5 years from now, it will be more of a hassle to buy from a stranger.

Any thoughts on what y'all would do?
By the way, I'm 9 years away from retirement - and my wife is probably 14 years away from retirement.
Thanks in advance!

 

[Shankilicious]

From what I've seen of Marriott resale and staying at a few of their properties and seeing how well they trade, I think it's mostly a question of your finances. I'm not sure if their are extra fees or tiers for internal trades in Marriott but if all he's asking for you to pay is transfer fees, I would take it

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[DaveNV]

I’d say rent, until you know your life is stable enough to buy something. It’s easy to get into a timeshare, and a lot harder to get out of one. There are a lot of reliable resellers out there, so getting a good deal isn’t all that hard.

Dave

 

[VacationForever]

If you think you can use this timeshare at least half the time instead of trading, then take it. If you want to use it solely for trading, don't. Exchange fees go up more than inflation each year and you will be stuck with more than just the MF on the timeshare. Trading power should not be a problem with this timeshare and as you have said it, it is hard to plan ahead because of unknown schedule of your kids' activities.

 

[jjking42]

I would pass if its only good in January and February. At one time I owned a prime summer week at Legends Edge. Marriott actually bought it back from me. Luckily I purchased it on the resale market so I did not take the 80% loss that I would have incurred if I bought direct from Marriott.

Legends Edge is part of the Florida Club so you can book any of the 5 resorts without using an external exchange company. The 5 Florida club resorts are Grand Vista (Orlando). Legend Edge (Panama City), Villas At Doral (Miami), Beach Place Towers (Ft Lauderdale), Ocean point (Palm beach Shores). Marriott introduced a points based system a few years ago and I considered enrolling into the points system but the points per dollar spent on MF were not good. Your brothers week is probably not converted to points but you could ask him.

Legends Edge is not on the beach so I never stayed there. Most years I ended up reserving weeks at Beach Place Towers (Ft Lauderdale) via the Florida club and then renting them out. When the MF went over 1200.00 I decided to sell my week.

If you like the idea of using the Florida club resorts and the season he owns work for you then it might be a good idea. With kids I bet you need prime summer weeks and he probably cant reserve those. I would rent for a while before you buy anything. My youngest just went to college so now we can be more flexible but time-sharing with busy band kids can be difficult.

 

[edwinj]

jjking, thanks for the info on the Florida Club. ....there is also the annual fee to be a member on the Interval website that I almost forgot about.

DaveNW, if its relatively easy to purchase from resellers and folks on TUG, then I'm probably going to go that route in the future. Thanks again

 

[jmhpsu93]

Yes- there's an annual fee for Interval. And for the Florida Club I'm not sure how well you could use the other resorts. With Jan/Feb weeks at Legends Edge, that sounds like their Silver season. As you have to trade like for like seasons in FC, you won't be able to trade into Grande Vista or Beachplace as they don't have a Silver season. Someone correct me if I'm wrong.

 

[Shankilicious]

Yes- there's an annual fee for Interval. And for the Florida Club I'm not sure how well you could use the other resorts. With Jan/Feb weeks at Legends Edge, that sounds like their Silver season. As you have to trade like for like seasons in FC, you won't be able to trade into Grande Vista or Beachplace as they don't have a Silver season. Someone correct me if I'm wrong.

That's the kind of stuff that would piss me off in that kind of system..... Even though you own Marriott you can't go to any Marriott.....

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[MOXJO7282]

There are a number of free or very low cost Marriotts LOs that would be better choices if you wanted to get into the Marriott system but it sounds to me that your travel profile is such that ownership is not right for you. There is always a lot of last minute Marriott rentals on Redweek, TUG and a few others that I think you could find good deals on that you can rent without the burden of ownership.

 

[brianfox]

There are 5 Legends End weeks for sale on Redweek right now, and all are asking < $1000. One may be your brother's... One is an annual Platinum Ocean View week asking $950. That is a far cry from a Silver week - a better trader.

So if you rented now and later purchased, expect the cost to be at or less than what it is now. In other words, don't rush into this. Even if the Silver week is free, there are probably better deals.

In parallel, see how long it takes your brother to unload it. You may find no quick decision was necessary.

 

[jme]

First, just want to say , from reading various forum posts that I am very glad to have found this TUG. Many folks on this forum are very helpful with information. I have learned a lot in a short time just reading some of the threads.

My brother has a Marriott timeshare that he wants to unload. Its for a week in a range of January to February at the LEgends Edge in Panama City FL. He has never actually stayed there, has always traded it for other locations and times on InTerval. He has traded it for Orlando usually. he has always traded for other marriott properties only.

I'm aware of the MF going up every year. (about 1,400 now) He raves about the quality of Marriott properties.

But in deciding whether to take it off his hands: other factors are we have 2 teenage kids that causes our summers to be unpredictable with band camps and various other family events. So I'm thinking why not just rent timeshares using this website and others like Redweek.

Probably in another 5 years is when we'll have a consistent budget, clearer schedule to plan ahead, and more available vacation time. So timeshare ownership might make more sense then. But ---I hate to pass up getting this Marriott property from my brother at a bargain now, with minimal stress, because I don't have to vet the owner and location - when I know that if I want to buy 5 years from now, it will be more of a hassle to buy from a stranger.
Any thoughts on what y'all would do?
By the way, I'm 9 years away from retirement - and my wife is probably 14 years away from retirement.
Thanks in advance!

DON'T get that timeshare...no way!!!....terrible time frame for taking trips (Jan/Feb), less than average trader....
basically no good reason to get it.
Not to mention it's most likely a long trip if you ever plan on staying there. Bottom line you can do better.

You can find better resorts and better seasons with a more reasonable maintenance fee. If you take it over, you'll be stuck with the maintenance fee and will regret it, and then not be able to sell it.

The fact that it might be free up front will wear off fast, and be of no good value to you thereafter.

Take your time, rent or do whatever you can to test the waters, and of course read on TUG daily or at least weekly to learn.

Good luck.

 

[DaveNV]

DaveNW, if its relatively easy to purchase from resellers and folks on TUG, then I'm probably going to go that route in the future. Thanks again

There are also other places than Tug to get great deals. There is no monopoly here. Come back and ask questions when you're ready to buy, and people will offer directions of where to look.

Dave