Vacation Clubs

are another form of timeshare that can combine a variety of different options into a single package. Here's how they work.

Vacation Club developers will normally purchase a few units in several resort condominiums and pool the units into their vacation club program. The club retains ownership of the property and then use rights are assigned to the club members according to the club rules.

Clubs can own units in resort condominiums in several different areas such as Colorado, Hawaii, Mexico and Europe. This gives the club members several options when choosing a vacation destination. Like all timeshare programs, there are pluses and minuses to consider when purchasing club memberships.

The biggest plus is price. Club memberships normally sell for less than regular timeshare weeks or points program. Developers of these types of programs look for bargains when acquiring properties so development costs are kept to a minimum. The saving are passed on to the membership. Management fees, however can be greater in these types of programs and these fees are of course passed on to the membership in the form of maintenance fees.

Some other negatives to consider are the quality of the resorts and units. Some club programs leave a lot to be desired in this area. Many of the properties in vacation clubs are older and have a lot of deferred maintenance issues. This could mean special assessments on the membership at some point. Memberships can have restrictive rules of use and these should be understood thoroughly prior to purchasing.

If you are not concerned with owning the property and like to vacation in a lot different areas at different times and are somewhat flexible with travel plans, a vacation club could offer good opportunity in the value arena. Many clubs offer exchanges through RCI further expanding use options. Some clubs include the RCI option in the annual maintenance fee and some don't. This is a pass through charge so if you're not planning on exchanging look for a club that fits your vacation style without the RCI inclusion. There's no point in having options that add to the cost of membership when you have no use for them.

Many clubs concentrate their properties in popular vacation destinations, so if you like to vacation for example in Hawaii, look for a vacation club that concentrates in Hawaii properties.

For more information on specific vacation club programs contact us at Red Time Realty. We are always happy to answer your questions and address any concerns.

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