A timeshare is a vacation property that you share with other people. You are granted a certain time period in the timeshare for a fraction of the cost of owning a vacation home. Vacation clubs, on the other hand, offer you access to more than one resort property location, as well as other vacation and travel services. Although they're similar in nature, there are some slight differences between the two.
In a timeshare, you have partial rights to visit one property in a single location within a specified time period throughout the year. Timeshares are good options for people who have one favorite vacation spot they enjoy visiting over and over.
Vacation clubs offer access to several different properties you can visit at specified times throughout the year. Vacation clubs are good choices for people who don't want to be confined to a single location when traveling.
For a timeshare, you can choose to own a share of the property for a predetermined number of years for the dates specified in your contract. Or you can choose a "right to use" option, which allows you to use the property within your contractual dates without technically owning the property.
If you elect to own a timeshare, you can choose to sell your timeshare, or rent out the timeshare for the days in your time period.
With a vacation club, you don't technically "own" any of the properties that you visit, and you can't collect rental income like you can with a timeshare.
For a timeshare, you can expect to pay a one-time purchase price in addition to an annual maintenance fee. Costs vary depending on whether you choose an ownership or right to use option when purchasing a timeshare.
In a vacation club, there is also an initial purchase price and an annual maintenance fee, but you can normally choose between several packages. This means the maintenance fees may fluctuate if you choose to upgrade to another package. Vacation clubs also may have amenities like golf that require extra costs.
