When we think about timeshares, most of us think one week in the sun at a specific location. Worldmark Timeshare offer a variation on that concept, commonly known as a vacation club, which may be a lot more attractive especially for younger people who want to see the world. Those of us who don’t have set annual vacation dates would also benefit from this more flexible arrangement.
How does a vacation club differ to a timeshare, You buy a club membership when you join a vacation club. The club has access to timeshare properties in various resorts and as a club member you can use these units. There are various rules involved but basically you can reserve space at different resorts depending on your needs and the availability. The advantage being that you do not have to spend your week’s holiday in the same location year on year.
The club is set up similar to a timeshare in that you pay an initial fee to join and then annual fees. We all know that you should do your homework when entering into any contract involving the transfer of your money. You especially need to exercise caution when dealing with a vacation club arrangement as you could end up paying over money but owning nothing.
There is a common misconception that the vacation club owns the various timeshare properties. It may do but often it doesn’t. The property developer can retain ownership of the property, but confer right of access to the vacation club. In other cases, the developer will sell the property to the club, but even then you as a club member may not own any property.
People may advise you to buy a deeded membership as that offers you some protection. Well it can do but only if you are buying a deed which gives you ownership of a specific unit for a specific period. If the club ceases to operate, you will still own something. A lot of vacation clubs use deeded memberships but their owners buy a fractional ownership in the club. If the club ceases then you may not own anything unless the clubs assets were placed in some sort of trust.
Knowing the different issues involved will help you to make the best decision with regard to your purchase. Despite the tarnished image attached to the timeshare industry as a whole, these larger companies are trying to provide value for their members. There are a lot of very happy timeshare owners who are quietly enjoying their purchase. They love the flexibility of choosing different holidays according to their mood. They can go skiing or to the desert. Holiday in the US or further afield and all via the Worldmark network. The advantage of being a member of a large well known organisation is that you can expect consistency of standards, fantastic locations and amenities at your holiday destinations.
Another benefit of membership of Worldmark Timeshares is that you can exchange your timeshare credits for a similar one in over 3000 of the Resort Condominiums International (RCI) resorts worldwide. The world becomes your oyster – all that you have left to do is negotiate that time off with your boss!