The Differences Between Timeshares and Travel Club Ownership
There are so many ways to vacation these days. Sea lovers can go on a luxurious cruise with their family. Or trendy vacationers can book an Airbnb in their favorite city. Other options include timeshares or becoming a member of a travel club. This guide will overview the differences between timeshares and travel club ownership.
What is a Timeshare?
Thousands of people purchase timeshares every year. A timeshare is when a group of people collectively own a vacation property. These properties usually reside on specific resorts, as the resort companies are the ones who sell the packages. Timeshares can operate on either a fixed or a floating schedule. A fixed schedule means you can’t change your vacation days at any point throughout your contract. If you signed up to use your timeshare March 1st-8th, that’d be your fixed schedule throughout the entirety of your agreement. A floating schedule, on the other hand, is more flexible. Here, the timeframe you can use your timeshare changes every year. On the surface, timeshares seem like a fantastic way to vacation. Yet, the reality is more like a nightmare. Timeshare owners must pay insane interest rates and incredibly high maintenance fees. These fees, coupled with the frustrating schedule options, make timeshares a headache for everyone involved. If you’re currently under contract, please call Preferred Cancellation Services to cancel your timeshare immediately. You’ll feel so relieved once you pick up the phone.
What is a Travel Club Ownership?
A travel club membership is another way people can vacation. Travel club memberships are like timeshares in that you only stay at the property for a short length of time. You can’t just cash in your travel club membership and stay however long you like. Much like timeshares, certain rules apply to these memberships. Yet, there are striking differences between these two options, as well. Timeshare owners typically sign a deed to the vacation property they’ll be staying at—they own part of the land. Travel club members don’t own anything. Instead, these people buy a certain amount of “points” through a resort. Then, these members can cash in their points whenever they see fit and go on vacation. However, it’s vital to keep in mind that more luxurious packages cost more points. Popularity plays a factor, as well. Members will have to cash in a ton of points if they want to stay at a Disney World resort during peak season. One benefit of this option is that members have a plethora of different vacationing options. Members aren’t stuck with staying at one property. Instead, they can choose to cash in their points at different locations that are compliant with their current package. Since travel club memberships present a variety of different options, they’re definitely a better choice than timeshares. Also, travel club memberships are much easier to get out of. You don’t have to jump through multiple loops and legalities to get out of the agreement. All these reasons are why you should cancel your timeshare and purchase a travel club membership instead.