Difference between Timeshare and Vacation Clubs
Timeshare is unique form of ownership or the privilege to use one property for a specific duration. This term also used to explain a type of property also. This type of lodging is mainly seen in the tourism industry, there are some resorts which allow multiple parties to use the same property; where each party uses it at specific times during the year. During this time they own the right to use that property exclusively. On the other hand, vacation clubs also provides the right to use the resort, but here the style is different. Vacation Clubs provide ownership to the parties without any specific time duration. One can stay for one day or they can extend it two or three weeks.
A timeshare can be termed as possession or the privilege to utilize assets, or used to describe such properties. There are typically resort units, in which the ownership is shared by multiple parties. The units are only shared on the basis of part-time ownership or a kind of lease which offers privileged use the property; it does not provide any ownership of the property. The price of the property is shared amongst the owners. This is basically of two types, deeded and non-deeded. In a deeded plan the owner acquires the timeshare unit and the unit for 30-40 years. It can again be categorize into fixed use and floating use. A fixed use allows only a precise time and precise amount of years where as a floating use timeshare allows you to choose vacation any time of the year but here the preference goes to the first come first. The next types of plan called non-deeded plan is likewise called right to exploit plan similar to lease, the facilities provided will be alike, the difference will that this is only for a specific period and you lose all the privileges after the lease expires.
Vacation clubs are fundamentally a deviation on the timeshare theme. They also offer vacation stays in participating accommodations. As with timeshares, you buy into the program for an initial price and once enrolled, you have to choose the resorts where you want to stay and you have to pay every time you occupy it. There will be an annual maintenance charge also. With a vacation club membership you will be able to explore the unequaled vacation-planning flexibility, unbelievable value and the obligation to quality that you wanted and expected.
The Pros and Cons
In one sense timeshare are economical as it allows you to use the property for a couple of weeks out of the year. A time share proves to be guaranteed vacation. Timeshares are a vacation destination that is guaranteed to be there one week a year. This will help you to plan your vacation. With a vacation club, you may have no base interval location or time, irrespective of how long your vacation; it depends on how much occupancy you buy. Stay options are not restricted. In vacation clubs accommodations are generally larger than individual hotel/resort accommodations, with kitchen facilities; many are in excellent locations. This is profitable because the annual occupancy costs can be less than that comparable to hotel/resort accommodations. Timeshares can be bad investments. If you invest in a timeshare that is knocked by a gale then of course it will deflate in value. You might be locked into a limiting time share contract.
Similarities and Differences
- Timeshares are method of owning a property in a shared manner.
- Vacation clubs also provide a method of owning a property in flexible manner. There is no specific time duration or restriction on occupancy.
- Timeshares provide a restricted vacation schedule.
- Vacation Clubs ensure complete satisfaction and maintenance.
- Clubs are more suitable for a huge family.