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Thread: what is benefit to owning time share?

  1. #1
    Member buckeyetodd's Avatar
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    what is benefit to owning time share?

    I love aruba. we have stayed a couple different places on our trips. would like to come more but it seems our vacation schedule is now being determined by our grandkids and their parents schedules.

    I think if I had a certain date I needed to vacation each year, I could get it through my wifes head that she needs to tell our kids to make other arrangements.

    I don't really understand how a timeshare works and what fees are involved so I'm going to throw a couple questions out there and hope some of you can help me figure this out.

    1-when you buy a timeshare, do you still have to pay a fee to use it each year? for example, say the timeshare costs 20k up front, when I come to use my week, are there other fees?

    2-what are the difference between owning a timeshare at say the renaissance as opposed to Marriott surf club other than facilities? do they all work alike?

    3-is a time share like a mortgage or do you just pay for it?

    we've been all over the Caribbean but I would like to make my home base aruba, we love it there.

    thanks in advance for any answers you might be able to provide.

    Todd

  2. #2
    Aruba since 1979
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    Andrea J.'s Avatar
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    welcome to your first posting!

    1.........yes. typically there are maintenance fees due on it annually. Can be as low as $400 to much higher depending on the size and the location and resort.
    There are also daily and per stay taxes which can be about $25 per day.

    (If you do buy one, there are 2 types...."right to use" and "deeded in perpetuity"
    Right to use is X amount of uses/weeks during X amount of years
    and

    Perpetuity..you own it forever and can pass the deed along in your will)

    2. Marriott Surf vs Renaissance
    Will let Cindy or Rob answer as they own both

    3. Yes and yes. One can either finance it or buy it outright.


    In hindsight........the monies that we put into timeshares in aruba, could have purchased a nice condo or villa in aruba years ago... (1999)
    It was a POOR monetary investment for us but a good vacation investment for us.
    We are very fortunate that we are able to rent most of our units to cover the annual maintenance fees.

  3. #3
    Senior Member AndyM's Avatar
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    Timeshares are not all the same. Some are for a fixed week, such as week #4 every year. Others allow you to use points you've bought to bid on weeks. This second type doesn't suit your need for a locked in date.

    An advantage of a timeshare is that it comes with a kitchen so you can cook in if you like. Maybe that's not an advantage. Also, you are usually with the same group of people every year. That can be good or bad. It's not difficult to manage. Choose your resort wisely as they cater to different types of people.

  4. #4
    Senior Member cindyo's Avatar
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    I will let Rob answer more on the money differences

    Surf Club- we own a 2 bed room unit and points. We convert all to points. Points = units. We own enuf points to stay 4 wks in a 1 bedroom. Our home base is Aruba.
    Rennaissance is a fixed week. We own week 52, 2, 3 and 15. There is a timeshare calendar. For ex week 2 is 2nd wk of January and so on.
    Each are very different. Peach have their pluses and negatives. Maintainance fees are very different.

    i have my favorite.

    We easily rent out Rennnaissance which covers our maint. Fees.

    see Robs comments.

  5. #5
    Senior Member rob o's Avatar
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    There are so many things to consider I wouldn't try to cover everything tonight (can't, too many things to do). I'll give you my own "quickie".

    Renaissance, a Marriott in name only. The timeshares actually an Aruba company ownership.

    25 years old and on it's third name, it is strictly one bedroom suite timeshares. Fixed Friday to Friday weeks, owners "own" a specific room and week. Weeks51, 52 and 1-15 are high season and 16-50 are low. Only re sales are available from current owners; the resort does not sell. Low seasons run, roughly, from $1,500 to $4,500. High seasons run from $5,000 to $10,000. You can switch rooms if you can't make your week in a given year, but it is only as available. If you switch from a low to a high week, there is a $750 up charge. Maintenance fees $664/year.
    Please contact via e-mail at arubarennowner@gmail.com



  6. #6
    Senior Member rob o's Avatar
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    Quote Originally Posted by rob o View Post
    There are so many things to consider I wouldn't try to cover everything tonight (can't, too many things to do). I'll give you my own "quickie".

    Renaissance, a Marriott in name only. The timeshares actually an Aruba company ownership.

    25 years old and on it's third name, it is strictly one bedroom suite timeshares. Fixed Friday to Friday weeks, owners "own" a specific room and week. Weeks51, 52 and 1-15 are high season and 16-50 are low. Only re sales are available from current owners; the resort does not sell. Low seasons run, roughly, from $1,500 to $4,500. High seasons run from $5,000 to $10,000. You can switch rooms if you can't make your week in a given year, but it is only as available. If you switch from a low to a high week, there is a $750 up charge. Maintenance fees $664/year.
    As for the Marriott Surf, you don't buy a specific week, you now buy points (more on that later). If you want a week you have to buy a resale, but that's complicated by Marriotts right of refusal resale policy. Weeks fall in three seasons: platinum plus, platinum, and gold. The plus Is Christmas, New Year, Presidents week. platinum is January to May. Gold is the rest. Annual fee, about $1,750 for a two-bedroom suite. You can break up as a one bedroom with a lock out suite. You can't buy a specific week unless it is platinum, but be prepared to pay what you would for a condo!

    Marriott now sells points. To reserve with points you go to their website and there is a matrix of points for each of 50+ resorts. At the Surf, the number of points varies by the size of unit, the view, the week and the days. One great thing, you can reserve for any number of days starting on any given day. Rough example.....a one bedroom might cost 1900 points in September, 2,500 in February, or 3,500 at New Year. Maintenance fee. $0.47/point/year. Purchase cost? About $10 per point from Marriott. Secondary market on points is really limited by Marriott restrictions.

    Search the internet, there is a lot of info on Marriott Vacation Club there.

    The web has essentially nothing on the Renaissance beyond whey I've told you.
    Please contact via e-mail at arubarennowner@gmail.com



  7. #7
    Member Bosox824's Avatar
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    We also own at the Renaissance and this decision was made after staying three stays at the Marriott Ocean Club. It is just my wife and myself so we did not need the two bedroom villa and not knowing what room was ours till we checked in. It is a beautiful property and miss the walks down the beach towards the Pelican and other places. We enjoy staying in the downtown area, the private island, two pools and the late hour pool bar. Everyone we have met there is very nice and it seems more personal than the Ocean Club. For the annual maintenance fee, knowing the week, day and unit we are staying makes it easy to plan. Also if we have guests like lasts year they were able to rent a unit in the same wing. I think it is worth trying and if you go low season it should be a fairly reasonable costs to become an owner in Aruba.

    Dave

  8. #8
    Aruba since 1979
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    Andrea J.'s Avatar
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    check out this rent or own timeshare?

  9. #9
    Senior Member act1966's Avatar
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    Quote Originally Posted by Andrea J. View Post
    welcome to your first posting!

    1.........yes. typically there are maintenance fees due on it annually. Can be as low as $400 to much higher depending on the size and the location and resort.
    There are also daily and per stay taxes which can be about $25 per day.

    (If you do buy one, there are 2 types...."right to use" and "deeded in perpetuity"
    Right to use is X amount of uses/weeks during X amount of years
    and

    Perpetuity..you own it forever and can pass the deed along in your will)

    2. Marriott Surf vs Renaissance
    Will let Cindy or Rob answer as they own both

    3. Yes and yes. One can either finance it or buy it outright.


    In hindsight........the monies that we put into timeshares in aruba, could have purchased a nice condo or villa in aruba years ago... (1999)
    It was a POOR monetary investment for us but a good vacation investment for us.
    We are very fortunate that we are able to rent most of our units to cover the annual maintenance fees.
    Thanks, Andrea. Very informative.

    Some questions:

    Are timeshares like condos in that they have "special assessments" (e.g. the roof needs replacement) and how are those costs distributed? Evenly among owners or by square footage of the unit and then by owners? Or are the maintenance fees enough to cover everything over time?

    Is there an elected board of directors selected from the owners? Who decides when special assessments should be enacted?

    Is there a reserve fund (i.e. a certain portion of maintenance fees are put into a savings vehicle for emergency assessments)?

    S.

  10. #10
    Senior Member AndyM's Avatar
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    Quote Originally Posted by act1966 View Post
    Thanks, Andrea. Very informative.

    Some questions:

    Are timeshares like condos in that they have "special assessments" (e.g. the roof needs replacement) and how are those costs distributed? Evenly among owners or by square footage of the unit and then by owners? Or are the maintenance fees enough to cover everything over time?

    Is there an elected board of directors selected from the owners? Who decides when special assessments should be enacted?

    Is there a reserve fund (i.e. a certain portion of maintenance fees are put into a savings vehicle for emergency assessments)?

    S.

    There are similarities with condos. A timeshare can have a special assessment in addition to the annual maintenance fee. How it is distributed is up to the governing board. The intent of the maintenance fee is to set aside a portion (reserve account) for major projects but unexpected problems or poor management can make that inadequate. There is often a board that is the decision-making body for the timeshare. I don't know if that's the case everywhere.

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