Purchasing a vacation club timeshare isn't something you should do lightly. You'll need to ask smart questions about the specifics of your agreement and what exactly you're buying when you sign up for a vacation club. A relatively new concept, vacation club timeshares operate differently than traditional timeshares, so it's very important to know what you're getting into.
Ask exactly how the program works. Each vacation club operates differently. If you're used to owning a traditional timeshare based on a system of points, you might need to get accustomed to a whole new set of rules. Some vacation clubs, like Disney, do use points, which is why it's important to get the rules down pat.
Find out whether you're buying fractional ownership of a facility or simply the right to use. You might want to discuss these two different types of vacation club agreements with an accountant; the real estate tax benefits could vary.
Get a list of all costs you'll be responsible for before you sign on the dotted line. Vacation clubs typically have one upfront cost, which could be payable over time like a mortgage, and also yearly upkeep fees. Make sure you know whether you'll be responsible for any other charges. Also find out the rules of using points outside your network and whether that would cost extra.
Investigate what this particular vacation club's timeshares typically resell for. Timeshares rarely have good resell rates, but there are exceptions. While you're looking into this, you might actually decide to buy someone else's resale rather than pay the vacation club directly, as this can be a better bargain.
Find out whether there's an escape clause or a time period where you can change your mind and get out of the sales contract at no charge.
