Sep 03 2008
Timeshares vs. Travel Memberships – What’s Right For You?
There’s a lot of talk in the travel industry about timeshares and discount travel memberships. Like the real estate problems people are having the same issues with their timeshares. If people can no longer pay their maintenance fees they are simply letting their timeshares go. What once seem a great affordable vacation package is turning into a nightmare for some!
So it makes me wonder if people really understand the difference between these two options.
Timeshares:
When people purchase a timeshare they are purchasing it as a single vacation destination; owning the right to use the property for one week once a year. Along with this ownership comes a purchase price. First the price depends on the size of the unit, number of bedrooms, location and week. With these purchase factors you can pay between $10,000 and $35,000. As the owner you are also responsible for a yearly maintenance fee ranging from $300 to $1,000.
Because this is real property you have a partial ownership in you are also responsible for property taxes on your share of the property.
If you decide over time you are tired of this location and want to see other sites, you do have the option of trading weeks with other members. Depending on where you want to go you could wait up to 2 years for access to prime resorts.
Discount Travel Memberships:
These on the other hand are much less complicated. They are often sold by Network Marketing companies so many of the members are not only users of the product they sell the product as a business.
Some memberships are based strictly on planned affordable vacation locations. The company sets up a week in prime locations and offers them to their members at substantially discount prices. One company offered an all inclusive 5 day cruise to the Caribbean for $60. This is not a typo. To get this price you are required to go when they plan it. Fee for joining this network marketing company is less than $700.
Another discount membership offers an 8 day 7 night stay to many of the same timeshare locations worldwide for $298 to $699. Members will never pay more than that for these 4 and 5 star resorts. Fee for joining this network marketing company is a one time lifetime membership of $3,000. And as with any timeshare this memberships are willable.
So depending on your vacation desires will determine your choice of a timeshare or a discount travel membership. Whichever you chose; enjoy your time off it is well deserved.
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